Patient Engagement Solution Market, By Service (On Premise, Software as a Service, Application Managed Service), By End User (Public/Private healthcare institutions, Hospitals, Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Oct 2020

Code : CMI2058

Pages :183

Formats :

Excel and PDF

Industry : Healthcare IT

Market Challenges And Opportunities

Global Patient Engagement Solutions Market: Drivers

High prevalence of chronic diseases is expected to propel growth of the global patient engagement solutions market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Moreover, increasing geriatric population is also expected to aid in growth of the global patient engagement solutions market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.

Global Patient Engagement Solutions Market: Restraints

Risk regarding data security is expected to hinder growth of the global patient engagement solutions market. Cloud computing faces the risk data breach. Virtual cloud systems also face security concerns because of their hypervisor.

Moreover, lack of IT expertise, especially in emerging economies, is also expected to hinder growth of the global patient engagement solutions market.

Global Patient Engagement Solutions Market: Opportunities

Increasing investment in digital patient engagement is expected to offer lucrative growth opportunities for players in the global patient engagement solutions market. For instance, in August 2020, SeamlessMD raised US$ 4 million in a Series A financing round led by MEDTEQ+, bringing the company’s total funding to US$ 7.4 million.

Moreover, increasing adoption of patient engagement solutions is also expected to aid in growth of the market. For instance, in August 2020, InteliChart announced that Nova Southeastern University has selected Healthy Outcomes to orchestrate engagement across their medical enterprise.