Patient Engagement Solution Market CAGR to Reach 17.54% by 2031, Increasing Progression in Health Tracking Devices Boost
WESTFORD, MASSACHUSETTS, UNITED STATES, July 26, 2024 /EINPresswire.com/ -- Patient Engagement Solutions Market1 size was valued at USD 16.58 billion in 2022 and is poised to grow from USD 19.49 billion in 2023 to USD 70.00 billion by 2031, growing at a CAGR of 17.54% in the forecast period (2024-2031)
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The increasing usage of smartphones in various sectors and among people is boosting the evolution of the global patient engagement solution market. In the past few years, customers have started using mobile phones to monitor their health by purchasing healthcare-based mobile applications. With these developments in the market there has been an upsurge in the adoption of patient engagement solutions to enhance the usage of IT and control systems among healthcare operators. Patient monitoring solutions are further boosted by the growing emphasize on electronic health record (HER) reports. Patient engagement solutions is playing a crucial role in encouraging patients to take part in their healthcare journey that is introducing better patient outcomes and experiences. These patient engagement software and digital patient engagement platforms allow people to have access to their medical information, interact with medical professionals, and schedule appointments with their doctors. This also helps in remote patient monitoring and encourages a mutual decision-making process that can benefit the patients. Today it has become easy to adopt virtual tools as they are becoming important for healthcare providers.
Technological Developments Boosting Growth
Enhancements in technology are transforming the patient engagement solutions market with patients’ willingness to share data for supporting personalized care, particularly for people suffering with chronic diseases. This type of individualized health monitoring is getting attractive because it is easy to transmit crucial data to achieve better outcomes. Integrated technologies like artificial intelligence, internet of things, and health information technology solutions will present new features and abilities in the point engagement solutions. Such innovative developments in technologies are creating immense opportunities for the growth of the market.
Health Tracking Devices to Drive the Market Growth in the Next 4-5 Years
The following are the key Patient Engagement Solution Trends2 that will shape the growth of the market in the next 5 years
In the last few years, health problems among people have increased massively along with their preference of monitoring health remotely. With the development of technologies healthcare providers can help patients with personalized care and health monitoring. Today, more people have started recording important data related to health with the help of innovative health tracking devices. Now, patients can easily perform blood tests at home for checking blood glucose, cholesterol, triglycerides, inflammation, and other many other conditions. These evaluations are performed by connecting to an application that monitors these factors. These are some of the main reasons for which patient engagement solutions are seeing high demand. The increasing use of mobile applications has also boosted the global patient engagement solutions market growth. The increasing incidences of chronic diseases along with government initiatives to increase awareness about the engagement solution have helped the market growth.
Improving Patient Engagement Strategies in the Life Science
To increase a patient’s loyalty to therapies and health results, organizations in the life science industry are focusing on making their platforms and procedures more engaging to the patients. This will help the patients to interact with the physicians more easily and share their problems about their health. These platforms also guarantee in keeping the health data of the patients secured, which is also increasing its popularity.
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Growing Awareness of Mobile Health to Drive Market Growth in the Next 10 Years
In recent times, the usage of smartphones has increased immensely, and it is driving the market for patient engagement solutions. This is primarily because patients with the assistance of their mobile phone can monitor their health through mobile-optimized websites. People can now download the related health application directly on their phones by using smartphones and internet. The market is growing massively due to such easy accessibility of internet and phones. Medical providers have also started using mobile applications so that they can easily interact with the patients and offer personalized experience.
Latest News about Patient Engagement Solutions
Greenway Health collaborated with Luma Health in February 2024. It will help them to present Greenway Patient Connect driven by Luma.
In October 2023, Elligo Health Research got together with Avallano to unveil myTrailsConnect. This is a clinical trial recruitment platform based on AI.
Zocdoc debuted a complimentary line of tools in September 2023. These tools will help medical professionals to reach and manage patients.
In December 2022, EnlivenHealth presented their Patient Engagement Network. This solution combines the company’s national pharmacy network with innovative data insights and digital engagement technologies.
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Increasing Competition of the Market with Better Technical and Financial Resources
The patient engagement solution market is extremely competitive because of the strong presence of well-known market players. However, patient engagement solutions and service providers who have better technical and financial resources will flourish in the market. The competitive environment will intensify with more innovative technologies, product expansions, and different strategies employed by the players.
Related Report:
Internet Of Things (IoT) Market3
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1 https://www.skyquestt.com/report/patient-engagement-solutions-market
2 https://www.skyquestt.com/report/patient-engagement-solutions-market
3 https://www.skyquestt.com/report/internet-of-things-market
