New Market Research Report: Patient Engagement Solutions Market - Global Forecast to 2020

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[USPRwire, Tue Apr 19 2016] Patient Engagement Solutions Market by Component (Hardware, Software & Services), Delivery mode (On-Premise, Web & Cloud), End User (Provider & Payer), Applications (Home Health, Financial Health), Therapeutic Area - Global Forecast to 2020

Factors such as government regulations and initiatives, growing popularity of patient engagement solutions among the aging population, significant investments by stakeholders, and rising number of collaborations and partnerships between vendors and end users are some of the factors driving the growth of the patient engagement solutions market. Patient engagement solutions are gaining popularity across the globe; the use of health information technologies and online resources in healthcare boosts care quality by improving care access, efficiency, chronic disease management, and patient & family involvement. Patient engagement solutions offer various features that enhance patient-provider communication and involve patients in their own care. The benefits of patient engagement solutions have fueled their adoption globally. However, reluctance among providers towards the adoption of patient engagement solutions, requirement of infrastructural investments, and lack of interoperability are some of the factors expected to restrain the growth of this market. On the other hand, emerging economies in the Asian region, growing medical tourism, and growing use of cloud-based models offer growth opportunities for players in the market.

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The software component segment is estimated to account for the largest share of the global patient engagement solutions market in 2015. Software is a non-tangible component used as an application to run a system or to perform primary tasks, which include maintaining patient records, analyzing databases, and performing administrative tasks in any healthcare organization or hospital.

Geographically, North America is expected to account for the largest share of the global patient engagement solutions market in 2015, followed by Europe, Asia, and the Rest of the World (RoW). The large share of North American is attributed to the federal mandates in the U.S., rising number of ACOs as end users for patient engagement solutions, rising aging population in the U.S, Canada's efforts to enhance healthcare delivery, and digital health measures in Canada.

Major players in the market are focusing on various strategies, such as product deployments; agreements, alliances, collaborations, and partnerships; new product launches (including product enhancements); acquisitions; expansions; and other strategies (divestment, funding, and product integration), to establish a strong foothold in the global patient engagement solutions market.

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