Patient Engagement Solutions Market: Growth, Size, Share, and Trends

This market research study involved the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the Patient Engagement Solutions market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess market prospects. The size of the patient engagement solutions market was estimated through various secondary research approaches and triangulated with inputs from primary research to arrive at the final market size.

Secondary Research

The secondary sources referred to for this research study include publications from government sources, such as WHO, ATA, AHA and AAHM. Secondary sources also include corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements); business magazines and research journals; press releases; and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall size of the global patient engagement solutions market, which was validated through primary research.

Primary Research

Extensive primary research was conducted after acquiring basic knowledge about the global patient engagement solutions market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side (such as Individual Physicians, Physician Groups, Hospitals, Clinics and Other Healthcare Facilities, Payers- Private and Public Insurance Bodies, Other End Users- Employer Groups and Government Bodies) and supply-side (such as C-level and D-level executives, product managers, marketing and sales managers of key manufacturers, distributors, and channel partners, among others) across five major regions—North America, Europe, the Asia Pacific, Latin America, Middle East and the Africa. Approximately 70% and 30% of primary interviews were conducted with supply-side and demand-side participants, respectively. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.

A breakdown of the primary respondents is provided below:

Note: The tier of companies is defined based on their total revenues. As of 2022, Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.

Note 2: C-level executives include CEOs, COOs, CTOs, and VPs.

Note 3: Other primaries include sales managers, marketing managers, and product managers.

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Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the global patient engagement solutions market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

• The key players in the industry and markets have been identified through extensive secondary research.
• The revenue generated from the sale of patient engagement solutions products by leading players has been determined through primary and secondary research.
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Market Size Estimation- Top-Down Approach

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Market Size Estimation- Bottom-Up Approach

Data Triangulation

After arriving at the overall market size, from the market size estimation process explained above, the patient engagement solutions market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the remote patient monitoring market.

Market Definition

Patient engagement is a key component of value-based healthcare, which focuses on improving the quality of care while reducing costs. It combines the patient’s knowledge, skills, ability, and willingness to manage individual health with the help of engagement solutions to increase activation & promote positive patient behavior. Patient Engagement solutions promote effective care coordination by facilitating seamless communication between patients and healthcare providers.

Key Stakeholders

• Healthcare institutes/providers (hospitals, medical groups, physician practices, diagnostic centers, pharmacies, ambulatory centers, and outpatient clinics)
• Healthcare insurance companies/payers
• Healthcare IT service providers
• Venture capitalists
• Government bodies
• Corporate healthcare entities
• Accountable care organizations

Report Objectives

• To define, describe, and forecast the global patient engagement solutions market based on component, delivery mode, application, therapeutic area, functionality, end user, and region
• To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
• To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall patient engagement solutions market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To strategically analyze the market structure and profile the key players of the patient engagement solutions market and comprehensively analyze their core competencies
• To forecast the size of the market segments with respect to five regions, namely, North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
• To track and analyze competitive developments such as product launches, acquisitions, partnerships, agreements, and collaborations in the patient engagement solutions market during the forecast period

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Company information

• Detailed analysis and profiling of additional market players (up to 20)