Patient Engagement Solutions Market Expected To Reach $27.9 Billion By 2027
Rising government expenditure on healthcare facilities, and the presence of skilled IT experts in emerging Asian countries, such as China and India, are expected to support the growth of the global market in the APAC region.
Technological advancements play a key role in reforming the country& healthcare management sector. China is currently facing challenges such as underfunded rural health centers, overburdened city hospitals, and a nationwide shortage of doctors.
The growth of this market is driven by the implementation of government regulations to promote patient-centric care and patient engagement, high demand for patient engagement solutions, and the utilization of mobile health apps.
However, inadequate interoperability issues for patient engagement solutions and a crunch of skilled IT professionals in the healthcare industry are expected to restrain the growth of this market during the mentioned forecast period.
According to the new market research report "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", The global 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.
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Moving or integrating these systems with patient engagement solutions will pose various challenges to these organizations in terms of cost. It will also require changes to their current systems that are optimized to handle only their current requirements.
Also, the move to cloud-based patient engagement solutions would involve changing the current IT architecture, especially in hospitals that already serve as hubs connecting multiple physicians, labs, and pharmacists.
Hence, finding the resources to achieve large-scale interoperability and interconnectivity could hamper the transition to cloud-based patient engagement solutions for such healthcare institutions.
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The global patient engagement solutions market is segmented into four major regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America accounted for the largest share of the global patient engagement solutions market. Favorable government initiatives , the reduced healthcare costs, the rising prevalence of chronic diseases and geriatric population , key market players operating in the region are the key factors driving the growth of the patient engagement solutions market in North America.
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