The patient engagement solutions market is projected to reach USD 27.9 billion by 2027 from USD 17.3 billion in 2022, at a CAGR of 10.0% during the forecast period. The growth of this market is driven by the adoption of government regulations to promote patient-centric care, Rising demand for patient engagement solutions, and the growing utilization of m-health apps. However, interoperability issues for patient engagement solutions and a dreadth of skilled IT professionals in the healthcare industry are expected to restrain the growth of this market during the forecast period.
The Prominent players in this market are IBM (US), McKesson Corporation (US), Allscripts (US), Cerner Corporation (US), Epic Systems Corporation (US), Orion Health (New Zealand), GetWellNetwork (US), athenahealth (US), Oneview Healthcare (Ireland), MEDITECH (US), IQVIA (US), Get Real Health (US), Cognizant (US), Symphony Care (US), Harris Healthcare (US), Kareo (US), CureMD Healthcare (US), eClinicalWorks (US), and Lincor Solutions (US), AdvancedMD (US), WellStack(US), IQVIA (US), Vivify Health (US), Medhost (US), Validic (US) MEDISYSINC (US), and Patient point LLC (US). These players are increasingly focusing on new product launches and partnerships to expand their product offerings in the patient engagement solutions market.
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IBM (US) is the leading player in the patient engagement solutions market. The company has developed many cloud-based solutions and is a pioneer in cloud software. It invests a significant share of its revenue into research and development. The company generates its revenue from four business segments, namely, Software, Consulting, Infrastructure, and Financing. The Software segment comprises two business areas: Hybrid Platform & Solutions and Transaction Processing. IBM has licensed software to more than 6,000 clinics & labs, 1,500 hospitals, 250 medical device manufacturers, and leading pharmaceutical companies globally.
McKesson Corporation (US) held the second position in the patient engagement solutions market in 2021. It is one of the leading providers of healthcare IT solutions. The company is known for the latest technological solutions for business intelligence, workflow management, claims and disease management, and predictive modeling. McKesson provides solutions for better patient management and care. The company mainly focuses on developing existing products and launching new and technologically advanced products, collaborating with providers, and undertaking acquisitions to boost its product portfolio and strengthen its market position.
Allscripts (US) held the third position in the patient engagement solutions market in 2021. The company offers a wide range of products and services in the patient engagement solutions market. It is engaged in developing and designing integrated clinical software applications for physicians, hospitals, governments, health systems, health plans, life sciences companies, retail clinics, retail pharmacies, pharmacy benefit managers, insurance companies, employer wellness clinics, and post-acute organizations. Allscripts initially focused on medication management systems and later shifted its focus to information technology. The company has a strong geographic presence worldwide.
Patient Engagement Solutions Market by Component (Software, Services), Delivery (On-Premise, Cloud), Therapy Area (CVD, Diabetes, Obesity, Fitness), Functionality (E-prescribing, Virtual care), End User (Provider, Payer, Patients) - Global Forecast to 2027
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