North America Patient Engagement Solutions Market Analysis and Future Scope

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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Based on component, the patient engagement solutions market in the region, has been categorized into software, hardware, and services. Of these, the fastest growth during the forecast period is expected from services, with 18.1% CAGR, due to the increasing support provided to patients, caregivers, and healthcare professionals during the management and treatment of diseases in healthcare centers.

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.

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Based on therapeutic area, the regional-level patient engagement solutions market has been categorized into chronic diseases, women health, mental health, fitness, and others. Throughout the forecast period, the chronic diseases category is expected to hold the largest market share and contribute 42.5% revenue in 2023. This can be attributed to the large pool of patients suffering from cardiovascular diseases in North America.

During the forecast period, the patient engagement solutions market is projected to witness the fastest growth in Canada, at a CAGR of 16.3%. This growth is led by the increasing prevalence of non-communicable diseases and government initiatives to spread awareness to alleviate chronic diseases. Moreover, the sedentary lifestyle and unhealthy food habits have led to a rise in the number of lifestyle disorders such as obesity, diabetes, and other comorbid diseases that require clinical intervention and continuous monitoring. These lead to the adoption of various healthcare technologies, including patient engagement solutions, among healthcare providers, care givers, and patients.

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 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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