Global Patient Engagement Solutions Market to Reach $51.65 Billion by 2028, BIS Research Says

The global patient engagement solution market generated a revenue of $11.84 billion in 2018 and is estimated to grow over $51.65 billion by the end of 2028, according to a new intelligence report from BIS Research. That translates into a compound annual growth rate (CAGR) of 14.09%, during the forecast period from 2019 to 2028.

There are multiple factors that drive this market, such as increase in the geriatric population, growing prevalence of chronic diseases, growing adoption of mobile phone-based healthcare services, and rising cloud-based networking models.

"North America is the leading contributor to the global patient engagement solution market,”according to Abdul Wahid, Principal Analyst at BIS Research. “In 2018, in terms of revenue, the North America patient engagement solution market was valued $6.85 billion which is anticipated to grow at a significant CAGR during the forecast period.”

This double-digit growth can be attributed to the increasing number of government initiatives and regulations promoting delivery of better healthcare services and rising electronic health record (EHR) and electronic medical record (EMR) companies in North America.

However, Asia-Pacific is the fastest-growing region during the forecast period, because of the rising prevalence of chronic diseases such as diabetes and hypertension and increasing usage of mobile health solutions.

Research Highlights

North America dominated the patient engagement solution market and accounted for 57.86% of the market share in 2018.

Factors contributing to the growth of North America region are an increasing number of ACOs (accountable care organizations), increasing focus, and a number of government initiatives to promote the use of better healthcare IT technology and solutions.

At present, Asia-Pacific is the second largest contributor to the patient engagement solution market, due to the increasing prevalence of chronic conditions such as diabetes and hypertension and increasing demand for patient-centric care.

(For more information visit https://bisresearch.com/).