The Latest Patient Engagement Solutions Industry Statistics Explained
The global patient engagement solutions market size was valued at USD 13.49 billion in 2020.
The statistic states that the global patient engagement solutions market was worth $13.49 billion in 2020. Patient engagement solutions refer to technologies and strategies that help healthcare providers and patients to effectively communicate and collaborate in managing health and wellness. This market size figure reflects the significant demand for innovative solutions aimed at improving patient outcomes, enhancing communication between healthcare professionals and patients, and ultimately reducing costs within the healthcare industry. The market’s size indicates a growing recognition of the importance of patient engagement in healthcare delivery and the increasing adoption of digital health technologies to support patient-centric care.
The CAGR for the market is expected to be around 19.2% over the forecast period (2021-2026).
The Compound Annual Growth Rate (CAGR) of 19.2% for the market over the forecast period from 2021 to 2026 indicates the average annual growth rate at which we expect the market to expand during this period. This statistic is useful for understanding the year-over-year growth rate in a way that smoothens out fluctuations and provides a simple measure of growth over multiple years. A CAGR of 19.2% suggests significant growth prospects for the market, indicating a potentially strong and lucrative investment opportunity or business environment over the forecast horizon.
The cloud-based patient engagement solutions accounted for the larger market share of 70.5% in 2019.
The statistic indicating that cloud-based patient engagement solutions accounted for a larger market share of 70.5% in 2019 suggests that the majority of patient engagement solutions adopted by healthcare providers and organizations were cloud-based rather than on-premises solutions. This trend signifies a shift towards more modern and scalable technologies in the healthcare industry, driven by the benefits of cloud computing such as improved accessibility, scalability, and cost-efficiency. The higher market share of cloud-based solutions implies that healthcare providers are increasingly leveraging the cloud to enhance patient engagement, streamline operations, and improve overall efficiency and effectiveness in delivering healthcare services.
In 2020, about 44% of the market revenue came from the health management segment.
In 2020, approximately 44% of the total market revenue was generated from the health management segment. This indicates that a substantial portion of the market’s financial activity was directly related to health management services or products. It suggests a significant demand for health management solutions and products among consumers or businesses in the market during that period. The statistic implies that the health management segment played a crucial role in driving overall market performance and highlights the sector’s importance within the industry landscape in 2020.
North America held the highest market share of more than 40% in the patient engagement solutions industry in 2020.
The statistic indicates that in 2020, North America dominated the patient engagement solutions industry by holding the largest market share of over 40%. This suggests that a significant portion of the global market for patient engagement solutions, which includes technologies and strategies aimed at improving patient-provider interactions and health outcomes, was concentrated in North America. With this high market share, North America likely had a strong presence of companies offering patient engagement solutions, as well as a substantial demand from healthcare providers and patients in the region. This statistic highlights North America as a key player in driving innovation and adoption of patient engagement solutions within the healthcare industry.
Key companies hold up to 60% share of the global patient engagement solutions market.
This statistic indicates that a significant portion of the global patient engagement solutions market is concentrated among a few key companies, collectively holding up to 60% of the market share. This suggests that these particular companies have a notable influence and presence within the industry, potentially dominating competition and setting market trends. Such a high market share held by a small number of key players can also indicate a barrier to entry for new firms trying to enter the market. Additionally, it highlights the importance of these key companies in driving innovation, shaping industry standards, and potentially influencing the overall direction of the patient engagement solutions market.
Around 42.7% of providers currently use patient engagement solutions.
The statistic “Around 42.7% of providers currently use patient engagement solutions” indicates that approximately 42.7% of healthcare providers have implemented tools and strategies to actively involve patients in their care and decision-making processes. Patient engagement solutions can include technologies such as patient portals, secure messaging platforms, telehealth services, and health tracking apps, all aimed at enhancing communication between patients and healthcare providers, improving patient education, increasing patient involvement in their own health management, and ultimately leading to better health outcomes. This statistic highlights a growing trend in the healthcare industry towards prioritizing patient engagement as a key component of high-quality and patient-centered care delivery.
The adoption of patient engagement solutions has resulted in 60% reduction in hospital readmission rates.
The statistic stating that the adoption of patient engagement solutions has led to a 60% reduction in hospital readmission rates implies that implementing strategies to actively involve patients in their healthcare has had a significant positive impact on healthcare outcomes. By utilizing tools and approaches that empower patients to take control of their own health, hospitals are seeing a substantial decrease in the need for patients to be readmitted after discharge. This statistic suggests that patient engagement solutions are effective in improving patient education, compliance with treatment plans, and overall health management, ultimately leading to better health outcomes and reduced healthcare costs.
Around 50% of mobile health app users have downloaded a fitness app, contributing to the growth of patient engagement solution.
The statistic suggests that approximately half of mobile health app users have downloaded a fitness app, indicating a significant trend towards utilizing technology for health monitoring and promotion. This high adoption rate of fitness apps reflects a growing interest in proactive health management among individuals, leading to increased patient engagement in their own health outcomes. By incorporating fitness apps into their routines, users are demonstrating a proactive approach to tracking and improving their fitness levels, which can ultimately contribute to better overall health and well-being. This statistic highlights the potential of mobile health apps to empower users to take control of their health and demonstrates the positive impact these technologies can have on patient engagement and healthcare outcomes.
98.2% of the world’s hospitals have implemented patient engagement technology.
The statistic stating that 98.2% of the world’s hospitals have implemented patient engagement technology indicates a high level of adoption of such technology within healthcare facilities globally. Patient engagement technology refers to tools and systems that enable patients to actively participate in their own healthcare, such as through electronic health records, patient portals, appointment scheduling apps, and remote monitoring devices. This high percentage suggests that hospitals recognize the importance of engaging patients in their care, promoting better communication and collaboration between healthcare providers and patients. The widespread implementation of patient engagement technology may lead to improved health outcomes, increased patient satisfaction, and more efficient healthcare delivery processes across a majority of hospitals worldwide.
Chronic diseases treatment application is projected to grow at a CAGR of 20.1% during 2021 to 2026 period.
The statistic indicates that the application of treatment for chronic diseases is anticipated to experience a compound annual growth rate (CAGR) of 20.1% between the years 2021 and 2026. This projection suggests a substantial and rapid increase in the utilization and adoption of treatments for chronic diseases over the specified time period. The high growth rate indicates a growing demand for effective treatments for chronic illnesses, potentially driven by factors such as an aging population, increased awareness of chronic diseases, advancements in medical technology, and improved access to healthcare services. This trend highlights the importance of addressing and managing chronic conditions and the potential opportunities for healthcare providers, pharmaceutical companies, and other stakeholders in the healthcare industry.
In the Asia-Pacific region, Japan held approximately 30% of the market share of the patient engagement solution industry in 2019.
The statistic indicates that in 2019, Japan accounted for around 30% of the market share in the patient engagement solution industry within the Asia-Pacific region. This suggests that Japan was a significant player in the industry during that time, with a sizeable portion of the market being dominated by Japanese companies or solutions. The high market share held by Japan implies that the country had a strong presence in developing and providing patient engagement solutions compared to other countries in the region. This data is valuable for stakeholders in the industry to understand the competitive landscape and opportunities for growth in the Asia-Pacific region.
References
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