High Prevalence of Chronic Diseases and Emergence of Covid-19 to Augment Growth of Patient Engagement Solution Market

 


High prevalence of chronic diseases is expected to propel growth of the global patient engagement solution market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045. Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to United Nations Population Fund, geriatric population in Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.        

Emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the global patient engagement solution market. For instance, globally, as of 5:15pm CET, 14 February 2021, there have been 108,153,741 confirmed cases of COVID-19, including 2,381,295 deaths, as reported to the World Health Organization. Moreover, increasing adoption of cloud communications solutions is also expected to aid in growth of the market. For instance, in September 2020, ENT and Allergy Associates, LLP, a healthcare facility that provides adult and pediatric ENT services, partnered with RingCentral to utilize its cloud communications solution.

However, risk regarding data security and lack of IT expertise, especially in emerging economies, is o expected to hinder growth of the global patient engagement solutions market.

Among regions, North America is expected to witness significant growth in the patient engagement solution market, owing to increasing adoption of patient engagement solutions in the region. For instance, in August 2020, Continuing Care Center of Ojai Valley Community Hospital, U.S. implemented eVideon’s patient experience platform and digital signage solutions.

Competitive Analysis

Major players operating in the global patient engagement solution market include, Medecision, Inc., Cerner Corporation, Phytel, Inc., iMD Health Global Corp., Axial Exchange, Orion Health, Emmi Solutions LLC, Athenahealth, Inc., RingCentral, InteliChart, Radix Health, GetWellNetwork, Inc., Pomelo Health, eVideon, Caravan Health, and SeamlessMD.

Major players operating in the global patient engagement solution market are focused on launching new products to expand their product portfolio. For instance, in April 2020, Caravan Health launched a COVID-19 patient engagement application in the U.S.

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