Patient Engagement Solutions Market Size, Share and Major Industry Players and Forecast to 2035

Patient Engagement Solutions Market Overview

Driven by the rising demand for enhanced patient involvement, patient engagement solutions are capturing substantial interest from healthcare stakeholders. The global Patient Engagement Solutions Market size is estimated to grow from USD 11.4 billion in 2023 to USD 96 billion by 2035, representing a CAGR of 19.44% during the forecast period 2023-2035.

Patient engagement solutions are innovative tools and strategies designed to actively involve patients to access, manage, and participate in their health and well-being. By leveraging technology and digital platforms, patient engagement solutions enhance communication, information sharing, and collaboration between patients and healthcare providers.

Patient Engagement Solutions Market Segmentation

Key segments of Patient Engagement Solutions Market are Distribution by Deployment Option (Cloud-based Solutions, On-Premise Solutions and Web-based Solutions), Type of Solution Offered (Appointment Management Solutions, Electronic Health Record Integration Solutions, Patient Education Solutions, Remote Patient Monitoring Solutions and Other Solutions), Application Area (Financial Health Management, Fitness and Wellbeing, Home Health Management, Research and Development and Social Health Management), End-user (Healthcare Providers, Individuals, Payers and Other End-users), and Key Geographical Regions (North America, Europe, Asia, Middle East and North Africa, and Rest of the World).

Additionally, through secure messaging systems, virtual consultations, and telehealth services, patients can communicate with their providers, seek guidance, and receive necessary support, irrespective of geographical barriers.

Patient Engagement Solutions Market Key Players

In order to build a sustainable competitive edge in the market, companies are actively focusing on offering wide range of features in their patient engagement solutions. Key players in this domain are athenahealth, Coviu, GetWellNetwork, Health Catalyst, MediBuddy, Mocero Health, Orion Health, Physitrack, SolvEdge, Veradigm, Well-Beat and Wolters Kluwer.

Based on supplier strength, McKesson and Wolters Kluwer emerged as the leading players, having 190 and 187 years of experience in this industry, respectively. The Increasing Traction in the Field of Patient Engagement Solutions is Evident From amount of funding received by companies in the recent past. The maximum funding amount was invested in 2021 30%, followed by 25% invested in 2022.

This rise in funding activity in the past few years can be attributed to the increasing demand for patient engagement solutions and growing drawbacks of conventional healthcare methods. Venture series (55%) emerged as the most common types of funding adopted by investors in this domain indicative of the potential for growth and profitability within the domain, followed by seed funding 16%, other equity 15% and 8.3% debt financing. The overall trend represents a favorable growth in the number of funding instances, indicating a growing interest of various stakeholders in patient engagement solutions. As per the base case forecast scenario, the market for patient engagement solutions is estimated to grow at an annualized rate of 18.2%, in the given time period.

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