North America Patient Engagement Solutions Industry Size, Share, Growth Drivers and Forecast to 2023
The North America patient engagement solutions market is forecasted to attain a size of $9.4 billion by 2023. The market is mainly driven by improvements in healthcare infrastructure, increasing healthcare spending, surging geriatric population, and growing prevalence of chronic diseases.
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Patient engagement solutions can be delivered through three modes—web based, cloud based, and on-premise. Among these, web-based was the dominant delivery mode in the patient engagement solutions market in the region, during the historical period, with 62.3% contribution in 2017. In the web-based delivery mode, the services can be used over the internet, on the web browser, that requires no additional storage or hardware.
On the basis of application, the patient engagement solutions market in the region has been categorized into health management, home health management, social and behavioral management, and financial health management. Of these, the fastest growth during the forecast period is expected from home health management, at a CAGR of 16.5%. These solutions provide medical care to patients at their home, by integrating homecare services for medication and scheduling appointments with doctors.
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The companies operating in the patient engagement solutions industry in North America are acquiring related businesses of other companies in order to expand their market. For instance, in October 2017, Allscripts Healthcare Solutions Inc. (Allscripts) closed the acquisition of McKesson Corporation’s hospital and health system IT business, known as Enterprise Information Solutions (EIS) business. The transaction was done to expand its solutions portfolio and client base in the U.S. hospitals and health systems. Allscripts purchased the EIS business for $185 million in cash, subjected to an adjustment for net working capital and net debt.
Some of the other key players in the patient engagement solutions industry in North America, include athenahealth Inc., Cerner Corporation, International Business Machines Corporation (IBM), and Lincor Inc.
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