Patient Engagement Solutions Market

Company competitiveness analysis - attaining a competitive edge over other companies by offering advanced features.The global patient engagement solutions marketsize is estimated to grow from USD 11.4 billion in 2023 to USD 96 billion by 2035, representing a CAGR of 19.44% during the forecast period 2023-2035. In order to build a sustainable competitive edge in the market, companies are actively focusing on offering wide range of features in their patient engagement solutions. The companies considered in this analysis have been scored based on several relevant parameters, such as supplier strength (based on number of years of experience) and company competitiveness taking into consideration product portfolio (type of platform offered, deployment option, type of component offered, type of solution offered, application area, end-user and customization feature) and funding strength (funding instances, amount invested and type of funding).Companies that have received higher scores as per our proprietary scoring criteria, include (arranged in decreasing order of competitiveness score) Health Catalyst, Medable, AlayaCare, Cedar and Digiteum.Companies that have received higher scores in benchmarking of portfolio strength (arranged in decreasing order of portfolio strength) Digiteum, Wolters Kluwer, GetWellNetwork and MEDITECH. Further, companies that have received higher scores in benchmarking of funding strength (arranged in decreasing order of funding strength) Health Catalyst, AlayaCare and Medable. Based on supplier strength, McKesson and Wolters Kluwer emerged as the leading players, having 190 and 187 years of experience in this industry, respectively. During our research, we estimated the market under conservative, base and optimistic scenarios. As per the base case forecast scenario, the market for patient engagement solutions is estimated to grow at an annualized rate of 18.2 %, in the given time period. The opportunity is likely to be well distributed across deployment option, type of solution offered, application area, end-user and geographies. Cloud-based solutions presently captures the largest market share, followed by web-based solutions and on-premise. In addition, EHR integration is expected to capture highest market share based on type of solutions, followed by appointment management, till 2035. Fine-grained sentiment analysis helps shaping patient engagement solutions by decoding emotions, enabling personalized care, and reforming the future of healthcare. Fine-grained sentiment analysis of patients' experience with patient engagement solution apps highlights valuable insights on the key pain points, features, and suggestions for improvement. Most common pain points among android and iOS apps are usability issues, followed by app performance and technical issues. Ease and use of accessibility has emerged as the most common key feature offered by android and iOS apps, followed by messaging and communication. The majority (75%) of patients have provided suggestions regarding technical issues and glitches for both android and iOS apps, followed by features and functionality 58%.Patient engagement solutions are innovative tools and strategies designed to actively involve patients to access, manage, and participate in their health and well-being. By leveraging technology and digital platforms, patient engagement solutions enhance communication, information sharing, and collaboration between patients and healthcare providers. Additionally, through secure messaging systems, virtual consultations, and telehealth services, patients can communicate with their providers, seek guidance, and receive necessary support, irrespective of geographical barriers. Further, by promoting patient education, adherence to treatment plans, and self -management, patient engagement solutions help reduce hospital readmissions, improve health outcomes, and optimize resource utilization. Patient engagement solutions have revolutionized the healthcare industry, empowering a new healthcare method for both healthcare providers and patients. Driven by the growing technological innovation and rising demand for virtual healthcare, the patient engagement solutions market is anticipated to witness a healthy growth in the foreseen future.Thank you for reading our report. Kindly get in touch with us to know more about the report or to receive a customized copy of it. Our team will ensure the report is tailored according to your needs. To view more details on this report, click on the link

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