Patient Engagement Solutions Market to Reach $50.5 Billion, by 2032 at 11.5% CAGR: Allied Market Research
NEW CASTLE, Del., Jan. 8, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Patient Engagement Solutions Market by Component (Hardware, Software, and Service), by Deployment Mode (On-premise and Cloud) by Functionality (Communication, Health Tracking, and Insight, Billing, and Payments, Administrative, and Others), and End User (Providers, Payers, and Patients): Global Opportunity Analysis and Industry Forecast, 2022–2032". According to the report, the patient engagement solutions industry generated $17 billion in 2022 and is anticipated to generate $50.5 billion by 2032, witnessing a CAGR of 11.5% from 2023 to 2032.
- The patient engagement solutions market witnessed stable growth during the COVID-19 pandemic, owing to the dramatically increased dependence on digital devices.
- The surge in the online presence of people during the period of COVID-19-induced lockdowns and social distancing policies fueled the need for patient engagement solutions.
- This is attributed to the growth in need for a high level of personalization one of the primary reasons enterprises have increased their investment in the patient engagement solutions market.
- On the basis of end user, the providers segment accounted for the largest share in 2022, contributing to more than two-fifths of the patient engagement solutions market revenue, owing to the development of digital technologies in the patient engagement solutions providers.