Patient Engagement Solutions Market Size, Share, Growth Analysis, By Component(Software (Standalone Software, and Services), By Therapeutic Area(Chronic Diseases, Fitness, and Others), By Functionality(Telehealth, E-Prescribing, and Billing & Payments), By End Users(Providers and Payers), By Region - Industry Forecast 2024-2031

Global Patient Engagement Solutions Market size was valued at USD 16.58 billion in 2022 and is poised to grow from USD 19.49 billion in 2023 to USD 70.00 billion by 2031, growing at a CAGR of 17.54% in the forecast period (2024-2031)

Numerous businesses are actively working to increase their market share and diversify their product offerings on the worldwide market. In order to maintain their lead in the market, these competitors invest in research and development while emulating what is happening in technology in producing the latest goods for customers. To achieve a competitive advantage and at the same time solidify their market position, they are looking at various inorganic strategies that can enhance their growth. 'IBM (US) ', 'McKesson Corporation (US) ', 'Allscripts (US) ', 'ResMed (US) ', 'Epic Systems Corporation (US) ', 'Orion Health (New Zealand) ', 'GetWellNetwork (US) ', 'Athenahealth (US) ', 'Oneview Healthcare (Ireland) ', 'MEDITECH (US) ', 'Cognizant (US) ', 'Symphony Care (US) ', 'Harris Healthcare (US) ', 'Kareo (US) ', 'CureMD Healthcare (US) ', 'eClinicalWorks (US) ', 'Lincor Solutions (US) ', 'AdvancedMD (US) ', 'WellStack(US) ', 'IQVIA (US) ', 'Vivify Health (US)'

The latest advancements in technologies in medical care like the development of mobile apps are helping patients to connect with their physicians easily and smoothly. Moreover, innovations like wearable devices and telemedicine are used for tracking and monitoring patients and their health. These solutions are increasing the use of patient engagement solutions, boosting market growth.  

Evolving Patient Engagement Strategies in the Life Sciences Sector: In order to improve patient adherence to therapy and health outcomes, businesses in the life sciences sector are concentrating on making their organisations, people, processes, and platforms more engaging for patients. Although this aim is unwavering, patient engagement tactics are constantly changing due to the addition of issues like patient data and security, patient marketing, worldwide operations, and organisational implications.

North America dominated the market in 2023 with a major share due to prominent major players, uptake of medical and electronic health records, and large-scale investments by prominent corporations. Also, increased government funding in the sector of healthcare, along with advancements occurring in modern technology, is further expected to bolster the revenue of the market in the region.