DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/thmn6x/patient) has announced the addition of the "Patient Engagement Solutions Market by Component, Delivery Mode & by End-user - Trends & Global Forecasts to 2019" report to their offering.
This market is expected to reach $13.7 billion by 2019 from $5.5 billion in 2014, at a CAGR of 20%
The patient engagement solutions market is categorized into six broad segments, namely, components, applications, delivery modes, endusers, therapeutic areas, and geographies. The market by component comprises hardware, software, and services. In 2014, the software segment accounted for the major share of the global market by component, while web-based solutions accounted for the largest share of the global market by delivery mode.
Adoption of patient engagement solutions enables the healthcare industry to reduce costs while improving the quality of healthcare. The solutions also provide positive returns on investment. Furthermore, legislative reforms of the Affordable Care Act (ACA) in the U.S., government incentives, and rising aging population has stimulated the adoption of patient engagement in the healthcare industry. However, in spite of numerous benefits, certain barriers such as huge investments, fragmented end-user market, and security of patient data are restraining the growth of this market.
On the basis of endusers, the patient engagement solutions market is segmented into providers, payers, patients, and others. The providers market accounted for the largest share of 64% of the global market. This market is expected to reach $9.0 billion from $3.5 billion in 2014,at CAGR of 20.7% from 2014 to 2019. Based on geography, the market is divided into North America, Europe, Asia, and Rest of the World (Pacific countries, Africa, and Latin America)
North America accounted for the largest share of the market, followed by Europe. The large share of the North American market can be attributed to various federal mandates and initiatives that encourage adoption of patient engagement, reducing healthcare costs, and focus on improving the quality of care. The Asian market is relatively new to healthcare analytics; however, the increasing HCIT adoption and growing medical tourism industry in this region will drive the growth of the Asian market.
The patient engagement solutions market is highly fragmented with players such as McKesson Corporation (U.S.), Medecision, Inc. (U.S.), Allscripts, Inc. (U.S.), Phytel Inc. (U.S.), Cerner Corporation (U.S.), Orion Health (New Zealand), Aetna, Inc. (U.S.), Athenahealth, Inc. (U.S.), Emmi Solutions LLC (U.S.), and GetWellNetwork, Inc. (U.S.).
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