Patient Engagement Technology Market Demand and Scope with Outlook, Challenges and Forecasts to 2026
Patient Engagement Technology Market Overview:
In 2019, the Patient Engagement Technology Market was estimated at USD 11.7 billion, with a CAGR of 17.5 percent predicted. The expansion of this market is fueled by technological advancements, government efforts, improved awareness, and the expanding benefits of integrating these technologies.
Healthcare organizations/providers must choose the right patient engagement technology based on a number of factors, including ease of use, data security, integration with value-based care programmes, cost of the patient engagement solution, integration capabilities, aligned functionality, and vendor reputation. The decision to install a patient engagement technology should be based on the organization's strategic plan and execution objectives.
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Driver: Benefits to patients/patient empowerment
Patients will adopt patient engagement solutions if they benefit from their use. In most cases, these benefits are direct monetary benefits. A white paper published by UbiCare stated that due to the use of PES, there is a 25% per day reduction in LOS (length of stay) for hip replacement patients and 13% for knee replacement patients.
Other benefits of these solutions include patient empowerment with higher levels of health literacy, timely appointment scheduling with doctors/caregivers, increased adherence to prescribed medical treatments, and consultation with providers through online tools. The adoption of patient engagement solutions depends on the degree of empowerment they offer to patients. Patients become more active in their care when they have access to their health records and can monitor their health status
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Market Segmentation:
End-User Market Potential Analysis (Qualitative Assessment)
Hospitals Buying Behavior Assessment
Purchase intention, by Hospital Size
Purchase intention, by Role
Pricing Analysis of Patient Engagement Technology
Licensing fees
Implementation fees
Annual license maintenance fees
Up-gradation and integration fees
Consulting fees
Patient Engagement Technology Market: Patient Engagement Technology Replacement Trends (Qualitative Assessment)
Factors triggering the replacement of Patient Engagement Technology
Role of Mobile in Patient Engagement
Importance of mobile and mobile health .applications in the patient engagement market
Implementation status of mobile health technology
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