According to a new research report published by MarketsandMarkets, the global patient engagement solutions market is expected to reach $13.7 billion by 2019 from $5.5 billion in 2014, at a CAGR of 20% from 2014 to 2019.
Major factors driving the patient engagement solutions market are legislative reforms of the Affordable Care Act (ACA) in the United States, demand for improved quality of care, rise in aging population, and incentives by various governments for adoption of HCIT and patient engagement solutions. Benefits provided by patient engagement solutions such as reduced hospital readmission rates, enhanced labor productivity, and improved quality of healthcare are resulting in an increase in the deployment of these solutions. However, in spite of numerous benefits of patient engagement solutions, certain barriers such as huge investments, fragmented end-user market, and security of patient data are restraining growth of this market.
North America accounted for the largest share of the global patient engagement solutions market in 2014, followed by Europe. However, Asia is expected to be the fastest-growing market owing to the increasing HCIT adoption, proficiency of IT skills, and growing medical tourism industry in this region.
Patient engagement solutions are a highly fragmented market with major players such as McKesson Corporation (US), Medecision Inc (US), Allscripts Inc (US), Phytel Inc (US), Cerner Corporation (US), Orion Health (New Zealand), Aetna Inc (US), Athenahealth Inc (US), Emmi Solutions LLC (US), and GetWellNetwork Inc (US).
The report is titled “Patient Engagement Solutions Market by Component (Hardware, Software & Services), Delivery Mode (On-premise, Web, & Cloud), End-user (Payer, Provider, Patients, & Others) – Trends & Global Forecasts to 2019.”