Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 6 Billion | USD 9 Billion | 7.03% | 2022 |
The global patient engagement technology market size was worth around USD 28.18 Billion in 2024 and is predicted to grow to around USD 112.02 Billion by 2034 with a compound annual growth rate (CAGR) of roughly 13.5% between 2025 and 2034. The report analyzes the global patient engagement technology market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the patient engagement technology industry.
Patient engagement technology is making patients well-informed about the problem and motivating them to take care of their own medications. This will help the patient to know all possible treatment, medication & recovery options, and other aspects that will support his choice. It provides a number of ways with which a patient can track his progress/recovery through technologies such as mobile devices, wearables, patient portals, and mobile applications.
Favorable government schemes in emerging and developed countries will favor the growth of the global market
The global patient engagement technology market is expanding at a notable rate and is majorly driven by favorable government initiatives in both developed and developing countries. The global market demand is subject to the rapidly increasing awareness among patients about patient engagement technology. Moreover, a rise in the number of deadly diseases such as chronic and infectious diseases is expected to drive the market demand over the ensuing years. Surging healthcare benefits for individuals are further fueling global market expansion. The patient engagement technology is creating an interest of stakeholders in the healthcare sector encompassing healthcare professionals, physicians, healthcare insurance providers & healthcare insurance subscribers, and technologists. Additionally, the adoption of patient engagement technology in the healthcare sector is predicted in reducing costs, thereby improving healthcare quality and simultaneously creating new growth dimensions for the global market.
Lack of awareness about the new technology can hinder the growth of the global industry
Lack of proper knowledge about the protection of patient information can restrict demand for patient engagement technology, thereby halting the growth of the global patient engagement technology industry.
Supportive government laws & new technology launches will open new growth facets for the global market
Favorable government initiatives and the launching of new healthcare technologies made available to individuals are anticipated to open new growth avenues for the global patient engagement technology market.
Strict regulations associated with the use of the technology can put a huge challenge to the global industry
Strict government laws pertaining to use of the patient engagement technology can prove to be a huge challenge in the expansion of the global patient engagement technology industry.
The global patient engagement technology market is sectored into component, application, and region.
In component terms, the global patient engagement technology market is segregated into services, hardware, and software segments. Furthermore, the software segment, which gathered nearly 61% of the global market revenue share in 2022, is projected to register the fastest CAGR in the ensuing years. The growth of the segment in the estimated timeline can be due to the large-scale use of software in patient engagement technology-based products as the software assists the patients in connecting with healthcare service providers.
Based on the application, the global patient engagement technology industry is sectored into financial health management, health management, social management, and home healthcare management segments. Moreover, the health management segment, which garnered a huge chunk of the global industry revenue share in 2022, is projected to dominate the global industry over the analysis timeframe. The segmental expansion over the assessment timeline can be subject to growing awareness about health management in the patient population base.
Report Attributes | Report Details |
---|---|
Report Name | Patient Engagement Technology Market |
Market Size in 2024 | USD 28.18 Billion |
Market Forecast in 2034 | USD 112.02 Billion |
Growth Rate | CAGR of 13.5% |
Number of Pages | 222 |
Key Companies Covered | YourCareUniverse Inc., Lincor Solutions Ltd., WelVU Inc., McKesson Corporation, Phytel Inc., PatientPoint, Medecision Inc., Oneview Healthcare, Orion Health Ltd., GetWellNetwork Inc., and others., and others. |
Segments Covered | By Component, By Delivery Mode, By Functionality, By Application, By End-user, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, The Middle East and Africa (MEA) |
Base Year | 2024 |
Historical Year | 2020 to 2024 |
Forecast Year | 2025 to 2034 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America is projected to maintain global market domination over the assessment period
North America, which contributed about three-fourths of the global patient engagement technology market revenue in 2022, is likely driven owing to rising concerns for healthcare management by senior citizens in countries such as the U.S. and Canada. According to the survey conducted by Alignment Healthcare Organization, nearly fifty-nine percent of senior patients have concerns related to their health in the near future. This technology has helped senior citizens in effectively managing their health on their own, connecting with healthcare service providers, and addressing their health concerns.
Asia-Pacific patient engagement technology industry is set to register the fastest CAGR in the upcoming years due to the large-scale presence of key players in countries such as India, China, and Japan. An increase in the patient population pool and a rise in medical service costs will prompt the growth of the industry in the region.
The report provides a company market share analysis to give a broader overview of the key market players. In addition, the report also covers key strategic developments of the market, including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the patient engagement technology market on a global and regional basis.
The global patient engagement technology market is dominated by players like:
The global patient engagement technology market is segmented as follows;
By Component
By Delivery Mode
By Functionality
By Application
By End-user
By Region
FrequentlyAsked Questions
Patient engagement technology is making patients well-informed about the problem and motivating them to take care of their own medications.
The global patient engagement technology market is expected to grow due to Shift toward value-based care and rising use of digital health tools are key drivers. Patient-centric healthcare and mobile health apps are boosting adoption.
According to a study, the global patient engagement technology market size was worth around USD 28.18 Billion in 2024 and is expected to reach USD 112.02 Billion by 2034.
The global patient engagement technology market is expected to grow at a CAGR of 13.5% during the forecast period.
North America is expected to dominate the patient engagement technology market over the forecast period.
Leading players in the global patient engagement technology market include YourCareUniverse Inc., Lincor Solutions Ltd., WelVU Inc., McKesson Corporation, Phytel Inc., PatientPoint, Medecision Inc., Oneview Healthcare, Orion Health Ltd., GetWellNetwork Inc., and others., among others.
The report explores crucial aspects of the patient engagement technology market, including a detailed discussion of existing growth factors and restraints, while also examining future growth opportunities and challenges that impact the market.
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