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Patient Engagement Technology an Innovative Tool for Healthcare Industry, Global End User Market Trends and Analysis - (Price Analysis, Replacement Trends and Factor Analysis, Selection Criteria, Buying Behavior and Mobile health)

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  • 70 Pages
  • September 2022
  • Region: Global
  • Markets and Markets
  • ID: 4876918

The Growing Awareness Among Patients About the Benefits of PES is a Major Factor Driving the Growth of this Market

The global patient engagement technology market is projected to reach USD 27.9 billion by 2027 from USD 17.3 billion in 2022, at a CAGR of 10.0%. Extensive research on the patient engagement technology market has brought to light that when patients are engaged in their health care, it leads to measurable improvements in hospital safety and quality of care. Active patient engagement is a prerequisite to better healthcare delivery. Considering the ongoing and rapid change occurring in the healthcare industry, hospitals are focusing on various ways to engage their patients to improve the care delivery process and allow informed decision making by physicians.

Aligned with this trend, healthcare providers, payers, and patients are increasingly adopting patient engagement technology that provides benefits to them as well as their patients and customers.

Below is the list of some of the benefits of Patient Engagement Technology:

  • Benefits To Clinics And Hospitals (Providers)/Payers
  • Increased patient satisfaction and experience
  • Improved clinical outcomes and quality of care
  • More timely appointments and reduced rate of no-shows
  • Assistance in meeting Meaningful Use (MU) criteria
  • Reduction in hospital readmission rates
  • Increased patient retention
  • Reduce overall cost

Benefits To Patients

  • Easy access to health information - Patients can easily access medical information anytime, anywhere through patient engagement technology or platform
  • Easy communication between patient and provider - E-visits and secure messaging aids patients communicate with providers using their mobile devices.
  • Monitor treatment progress effortlessly - Patients can opinion and share their medical records and obtain test results on their mobile devices
  • Increased patient satisfaction: Greater understanding of care through PES; the inbuilt value-based care program feature in PES enables patients to pay mainly for the value care received.

Reasons to Buy the Report:

The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market. Insights cited in the report will help these firms stay competitive and garner a greater market share. It will enlighten the stakeholders about the benefits of embracing patient engagement technology. The study analyzes the total economic impact (TEI) of patient engagement technology on organizations and highlights the enabling value of a technology in increasing the effectiveness of overall business processes.

Firms purchasing the report could use the below-mentioned information for strategy development, market penetration, product development/innovation, and strengthening respective market shares.

The report provides insights on the following pointers:

  • Pricing assessment: This section contains comprehensive information on pricing of patient engagement technology with breakdown into various cost components such as licensing fees, implementation fees, annual license maintenance fees, up-gradation and integration fees, and consulting fees
  • Hospitals buying behavior assessment: This section provides insights into the adoption trend of patient engagement technology in the hospital setting. The section analyses hospital buying behavior taking into account the size of the hospital and considering the role of key stakeholders in the hospital. It provides insights on major use cases of physicians and patients.
  • End-user market potential analysis: This section dissects the potential of various end-user segments and provides insights to stakeholders as to which end-user segments are most lucrative for investment
  • Vendor replacement trends: This section provides exhaustive information on vendor replacement trends for patient engagement technology
  • Factors triggering replacement trends: Several factors are responsible for the replacement of vendor of patient engagement technology. This section provides a deep dive into such factors.
  • Role of mobile in patient engagement: This section provides detailed information on current implementation status (2021) of mobile technology used for patient engagement against various applications.
  • Selection criteria for patient engagement technology (provider perspective): This section provides an in-depth assessment of critical factors that providers perceive as most important or less important while purchasing a patient engagement technology.
Frequently Asked Questions about the Global Patient Engagement Technology Market

What is the estimated value of the Global Patient Engagement Technology Market?

The Global Patient Engagement Technology Market was estimated to be valued at $17.3 Billion in 2022.

What is the growth rate of the Global Patient Engagement Technology Market?

The growth rate of the Global Patient Engagement Technology Market is 10.0%, with an estimated value of $27.9 Billion by 2027.

What is the forecasted size of the Global Patient Engagement Technology Market?

The Global Patient Engagement Technology Market is estimated to be worth $27.9 Billion by 2027.

Table of Contents

1 Introduction
1.1 Market Definition
1.2 Rationale for Adoption of Patient Engagement Solutions

2 Research Methodology
2.1 Research Methodology Steps
2.2 Data Triangulation Methodology
Table 1 Primary Research (Interviews) Sampling Frame

3 Executive Summary
4 Force-Field Analysis
4.1 Introduction
4.2 Driving Forces
4.3 Restraining Forces
Table 2 Calculation for Drivers
Table 3 Calculation for Restraints
Figure 1 Force-Field Analysis

5 Market Overview
5.1 Introduction
Table 4 Patient Engagement Technology Market, by Component, 2022-2027 (USD Million)
Table 5 Patient Engagement Technology Software Market, by Type, 2022-2027 (USD Million)
Table 6 Patient Engagement Technology Market, by Application, 2022-2027 (USD Million)
Table 7 Patient Engagement Technology Market, by Therapeutic Area, 2022-2027 (USD Million)
Table 8 Patient Engagement Technology Market, by Delivery Mode, 2022-2027 (USD Million)

6 End-user Market Potential Analysis
6.1 Major Use Cases of Patient Engagement Solutions (Physician Perspective)
6.1.1 Major Use Cases of Patient Engagement Solutions (Patient Perspective)
Figure 2 End-user Market Potential Analysis
Table 9 Major Use Cases of Pes for Physicians
Table 10 Major Use Cases of Pes for Patients

7 Hospital Buying Behavior Assessment
7.1 Introduction
7.1.1 By Hospital Size
7.1.2 By Role
Figure 3 Purchase Intention, by Hospital Size
Figure 4 Purchase Intention, by Role

8 Pricing Analysis of Patient Engagement Solutions
8.1 Introduction
8.1.1 Licensing Fees
8.1.2 Implementation Fees
8.1.3 Annual License Maintenance Fees
8.1.4 Upgrade and Integration Fees
8.1.5 Consulting Fees
Figure 5 Pricing Components
Table 11 Pricing Analysis of Patient Engagement Solutions

9 Replacement Trends for Patient Engagement Solutions (Qualitative Assessment)
9.1 Introduction
9.1.1 Replacement Trends
9.1.2 Factors Affecting Replacement Trends
Figure 6 Replacement Trends
Figure 7 Factors Affecting Replacement Trends

10 Role of Mhealth in Patient Engagement
10.1 Introduction
10.1.2 Importance of Mhealth in Patient Engagement Market
10.1.2 Implementation Status of Mobile Health Solutions
Table 12 Factors Supporting Mobile Health Market Growth
Figure 8 Implementation Status of Mobile Health Solutions for Patient Engagement

11 Selection Criteria for Patient Engagement Solutions (Provider Perspective)
11.1 Introduction
11.1.1 Cost of Software
11.1.2 Integration Capabilities
11.1.3 Vendor Reputation
11.1.4 Accessibility and Ease of Use
11.1.5 Aligned Functionality
11.1.6 Security
11.1.7 Integrated Value-based Care Programs
Figure 9 Selection Criteria for Patient Engagement Technology

12 Recent Developments
Table 13 Deployments
Table 14 Product Launches
Table 15 Collaborations/Partnerships
Table 16 Acquisitions

13 Recent Developments
13.1 The Knowledgestore Snapshot
13.2 Knowledgestore

Executive Summary