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U.S. Dominates the Patient Engagement Solutions Market
The patient engagement solutions market exhibits lucrative growth opportunities due to its advantages such as reduction of hospital readmissions and hospitals stays, optimized management of chronic diseases, enhanced staff productivity, quality care, and cost management. There has been an increase in the adoption of patient engagement solutions in order to leverage these benefits and reduce the healthcare costs.
Increasing demand for better clinical outcomes, rising incidence of chronic diseases, increasing efficiency of healthcare processes, and reducing healthcare costs are some of the major drivers of the patient engagement solutions market. However, the biggest driver of this market is the increasing number of federal healthcare mandates such as the American Recovery and Reinvestment Act of 2009 (ARRA) and the Affordable Care Act of 2010 (ACA) that stress on value-based reimbursement and the quality of treatment, rather than the traditional volume-based fee for reimbursement systems. The acts also offer incentives for healthcare stakeholders who adopt patient engagement solutions, resulting in increased adoption of patient engagement solutions. The U.S. currently dominates the patient engagement solutions market, and a strong growth in this region will further increase the global patient engagement solutions market.
The providersí end-user segment is expected to account for the largest market share of the patient engagement solutions market during the forecast period. However, payers and patients in Europe and the Pacific region are lucrative revenue pockets for this market in terms of end-user solutions.
The U.S. dominates the patient engagement solutions market, followed by Europe. The Asian market is relatively new to healthcare analytics; however, increasing HCIT adoption and growth of medical tourism in this region will drive the growth of the Asian market.
Patient Engagement Solutions Market by Component (Hardware, Software & Services), Delivery Mode (On-premise, Web, & Cloud) & by End-user (Payer, Provider, Patients,& Others) - Trends & Global Forecasts to 2019
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