Research Nester’s recent market research analysis on “Interactive Patient Engagement Solutions Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global Interactive Patient Engagement Solutions Market in terms of market segmentation by product, end-user, type, and by region.
Growing Concern for the Prevalence of Chronic Diseases to Drive Growth of Global Interactive Patient Engagement Solutions Market
The global Interactive Patient Engagement Solutions Market are estimated to grow majorly on account of the widespread concern about the rising chronic illness amongst the majority of the global population. Few chronic diseases such as diabetes, heart disease, and cancer, are becoming inevitable and are leading causes of death and disability worldwide. For instance, it was found that chronic disease in the United States was the leading driver of the nation’s USD 4.1 trillion in annual healthcare costs in 2021. Therefore, the growing ubiquity of various chronic illnesses as well as the rising need for constant real-time monitoring, consultation, and treatment of chronic patients along with the development of AI-powered patient engagement solutions that provide first-rate care to patients at every step is estimated to propel the market growth over the forecast period. It is expected that deep learning AI holds a promising position for improving patient outcomes, increasing safety, and reducing costs associated with healthcare delivery as it can be used to help detect diseases faster, provide customized treatment plans, and can even automate certain processes.
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Some of the major growth factors and challenges that are associated with the growth of global Interactive Patient Engagement Solutions Market are:
Growth Drivers:
• Surge in Telehealth Subscribers
• Rising Penetration of Wearables
Challenges:
The need for huge initial investment for employing modern technologies in the healthcare system is a major factor anticipated to hamper the growth of global Interactive Patient Engagement Solutions Market. Moreover, the growing concern about the risks associated with data security along with the rising cyber-attacks is responsible for patients’ reluctance to adopt such engagement solutions, which is also a restraining factor in the market growth.
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By product, the global Interactive Patient Engagement Solutions Market are segmented into in-room television, tablets, and interactive bedside terminals. The tablets segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth is backed by the prospering medical device industry across the world as well as the rising demand for sensor-based medical devices. As per data, the global medical device industry revenue amounted to a little less than USD 400 billion in 2020. The rising incorporation of medical-grade tablets in varied applications to avail real-time patient data, patient edutainment solutions, access to patient-controlled robots, and remote monitoring programs is expected to back the segment’s growth. Moreover, the user-friendly experience provided by tablets helps patients to stay informed and involved with their treatment plans. Hence, the lowering costs of these devices as well as rising patient compliance, proactive interventions, improved communication, and higher-quality care is further projected to enhance the segment growth.
By region, the North American Interactive Patient Engagement Solutions Market are to generate the highest revenue by the end of 2035. The growth of the market in the region over the forecast period can be attributed to the increasing efforts of the government to limit the rapidly hiking healthcare spending in the region with the increasing investment in the development of a sophisticated patient engagement system that uses artificial intelligence to automate, scale, and streamline, the patient engagement efforts of healthcare organizations in the region. As per the revelation of the Commonwealth Fund, the spending of the United States was more on healthcare than any other developed country in 2021 but it ranked last on almost all dimensions of performance. Hence, with the shortages of medical staff as well as the increasing need to maximize patient engagement along with growing spending on innovative digital technology, the market in the North American region is estimated to escalate at a faster pace.
This report also provides the existing competitive scenario of some of the key players of the global Interactive Patient Engagement Solutions Market which includes company profiling of Sonifi Solutions, Inc., Onyx Healthcare, Inc., Hospedia Ltd., i3solutions, Inc., Advantech Co., Ltd., GetWellNetwork, Inc., PDI Communications, Inc., BEWATEC ConnectedCare GmbH, Kommunikationstechnik GmbH, ARBOR Technology Corp., HealthHub Patient Engagement Solutions, and others.
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