Published: August 2023
Given the potential of patient engagement solutions to improve patient satisfaction and health outcomes, such solutions have emerged as indispensable tools and generated significant interest within the healthcare domain.
Roots Analysis has announced the addition of Patient Engagement Solutions Market report to its list of offerings.
The increasing adoption of patient engagement solutions is driven by their ability to facilitate active participation of patients in their own healthcare journey. Further, owing to better communication, shared decision-making, and personalized care, the patient engagement solutions market is anticipated to witness a healthy growth in the forecast period.
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Majority (43%) of such players are small firms, followed by mid-sized (39%), large (14%), and very large companies (4%). Further, over 75% of these solution providers are based in North America, with the remaining headquartered across Asia and Europe.
Majority (85%) of the service providers offer software-based patient engagement solutions. It is interesting to note that close to 90% of the companies provide more than five types of solutions, catering to the needs of different types of end users. In addition, over 70% of the solutions offer customization features.
Specifically, in 2021, industry players raised close to USD 1.7 billion. Around 55% of the organizations engaged in this domain primarily raised funding through venture capital rounds. Further, more than 80% of the total funding amount was received by players headquartered in the US.
A comprehensive fine-grained sentiment analysis of patients’ experiences with different patient engagement solutions provides valuable insights on the key pain points reported by patients, features they find the most beneficial and suggestions for improvement.
The market in Asia is likely to grow at a healthy CAGR (20.85%) in the long term. In terms of deployment option, majority (57%) of the revenues are likely to be generated by cloud-based solutions, in 2035. Further, based on end-user, healthcare providers currently hold the largest share (41%) of the market.
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The financial opportunity within the patient engagement solutions market has been analyzed across the following segments:
The report features inputs from eminent industry stakeholders, according to whom patient engagement solutions are likely to witness enhanced adoption due to their secure communication, remote patient monitoring options and other advanced features. It includes detailed transcripts of the discussions held with the following industry experts:
The research also includes detailed profiles of key players (listed below), featuring a brief overview of the company, details related to recent developments and an informed future outlook.
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