Patient Engagement Technology an Innovative Tool for Healthcare Industry, Global End User Market

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)

Report Code: HIT 4059 Sep, 2022, by marketsandmarkets.com

[70 Pages Report] 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%. Patient engagement technology is increasingly being adopted by healthcare providers, payers, and patients across the globe, particularly in the U.S. This report delivers a qualitative assessment of the patient engagement technology in terms of pricing, vendor replacement trends, and selection criteria of adopting patient engagement technology from the providers’ perspective.

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The patient engagement technology market is projected to rapidly grow as the healthcare industry witnesses a change to a value-based reimbursement system from the traditional volume-based fee for reimbursement system. Adoption of patient engagement technology allows the healthcare industry to decrease costs while improving the quality of healthcare. The technology also delivers positive returns on investment.

Additionally, implementation of government regulations such as the Affordable Care Act (ACA) in the U.S., government incentives, and growing aging population has encouraged the adoption of patient engagement technology in the healthcare industry. However huge investment requirement, fragmented end-user market, and security of patient data are restraining the growth of this market.

The cost of patient engagement technology depends on number of parameters that determine the price of patient engagement technology. These factors are categorized into “Up-front Costs” and “On-going Costs.” The report delivers a generalized trend of pricing of patient engagement technology.

Mobile health technologies have also appeared as potentially powerful tools to engage patients in healthcare. The adoption of mHealth apps is on the rise due to the growing focus on the continuous monitoring of vital signs to control various chronic diseases, such as cardiovascular diseases, obesity, and diabetes. Mobile health technology can strengthen care delivery process by enhancing providers’ capacity to reach vulnerable populations and actively engage them in their care. Majority healthcare organizations are offering mobile health technology to their patients.

As the market for patient engagement technology is patient-driven, favorable patient experience plays a crucial role in successful patient engagement. However, the majority of patient engagement technology fails to provide a positive patient experience, and there have been several complaints from patient population regarding the same, which in turn has triggered providers to replace their current vendors. Thus, the replacement market for patient engagement technology offers important opportunities for vendors in the market due to poor usability of current patient engagement technology.

To know about the assumptions considered for the study, download the pdf brochure

The selection of a patient engagement technology must be made based on the organization’s strategic plan and goals for implementation. Goals and desired outcomes of patient engagement technology will differ among organizations, from meeting the “Meaningful Use” incentive to increasing patient engagement. The report enlightens the vendors offering patient engagement technology about the vital factors that providers perceive as most valuable and which factors are relatively less vital from them.

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Scope of the Report

This report provides a qualitative assessment of the patient engagement technology in terms of pricing, vendor replacement trends, factors affecting replacement trends, and selection criteria of adopting patient engagement technology from providers’ perspective.

Patient Engagement Technology’s Market: Force Field Analysis

  • Driving Forces
  • Restraining Forces

Patient Engagement Technology Market: End-User Market Potential Analysis (Qualitative Assessment)

Patient Engagement Technology Market: Hospitals Buying Behaviour Assessment: U.S. Patient Engagement Technology Market

  • Purchase intention, by Hospital Size
  • Purchase intention, by Role
  • Use case of patient engagement technology (Physician Perspective)
  • Use case of patient engagement technology (Patient Perspective)

Patient Engagement Technology Market: 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

Patient Engagement Technology Market: Role of Mobile in Patient Engagement

  • Factors supporting mobile health market growth 
  • Implementation status of mobile health technology

Patient Engagement Technology Market: Selection Criteria for Patient Engagement Technology (Provider Perspective)

  • Accessibility and ease of use
  • Data security
  • Integrated Value-based Care programs
  • Cost-efficient software
  • Integration capability
  • Aligned functionality
  • Vendor reputation

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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 MARKETSANDMARKETS’ KNOWLEDGESTORE SNAPSHOT 
     13.2 KNOWLEDGESTORE
     13.3 RELATED REPORTS
     13.4 AUTHOR DETAILS

Patient engagement has taken center stage in healthcare and is dominating nearly every conversation and headlining numerous conferences in the field of healthcare. It is igniting interest of all the stakeholders in the healthcare industry such as providers, payers,physicians, health care professionals, technologists, planners, and even the government. Getting patients engaged in their healthcare process electronically is a important task and can be achieved by using patient engagement technology. Patient engagement technology (hardware, software, and services) allows patients and their representatives to be engaged in their self-care. Engaging patients in their self-care meaningfully enhances the understanding of their health conditions and enables patients to make informed healthcare-related decisions. These technologies promote patients to moderate their behavior in alignment with their agreed care plan and encourage self-care behavior. Patient engagement combines a patient’s knowledge, skills, ability, and willingness to manage individual health with the help of engagement solutions to increase activation & promote positive patient behavior. Implementation of patient engagement technology enables organizations to securely and quickly share accurate time-sensitive information with all the participants in the healthcare delivery process regardless of their role.

To know about the assumptions considered for the study, download the pdf brochure

Factors such as legislative reforms of the Meaningful Use (MU) program of federal government’s Office of the National Coordinator’s (ONC), increased security on mobile health apps by ORCHA (Organisation for Review of Care and Health Apps) and HIPAA (Health Insurance Portability and Accountability Act) to safeguard sensitive data from security breaches,Affordable Care Act (ACA) in the U.S., demand for improved quality of care, enhanced worker productivity, growing awareness among population, and incentives by various governments for the adoption of patient engagement technology, increasing demand for patient engagement solutions, and the increasing utilization of mobile health apps are driving the growth of the patient engagement technology market. The benefits provided by patient engagement technology such as cost reduction, decrease in hospital readmission rates, high patient outreach, and enhanced quality of healthcare are increasing the deployment of these technologies. Furthermore, favorable government initiatives and regulations, increasing focus on value-based medicine due to peer pressure and shifting focus towards patient-centric systems and technology with better interoperability with other software is expected to drive the global patient engagement technology market in the coming years.

However, in spite of numerous benefits of patient engagement technology, certain barriers such as shortage of skilled IT professionals, necessity sophisticated tools and infrastructure, shortageof health literacy in a large portion of the population, fragmented end-user market, poor access to healthcare, and breaches of patient data are hindering growth of this market.

Patient Engagement Technology an Innovative Tool for Healthcare Industry, Global End User Market Size,  Share & Growth Report
Report Code
HIT 4059
Published ON
Sep, 2022
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