Here is a look at the possible growth rates and trends impacting the global patient engagement solutions market.
The market is expected to grow at a whopping rate of about 8.6 between 2022 to 2032. By the end of this year, the market will be worth about US$29 billion. (from a study by fact.MR).
Talking about the patient engagement solutions market in the U.S, the expected CAGR is 15.1%, and the market will be worth USD 18.1 billion by 2030 (by GlobeNewswire)
The Growth Drivers
Lately, there have been dedicated efforts toward reducing the severe work stress for professionals involved in the medical field. Therefore, streamlining hospital workflows is perceived as the best option to achieve the desired results. In addition, the industry-wide attempts toward optimizing the workforce have led to the massive demand for improved patient engagement solutions.
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The demand for these solutions may persist in the coming years as well.
However, what served as a basis for the growth of the market was the covid-19 pandemic. The pandemic made us spend life indoors as the best way to curb its development was to avoid direct contact. Such a restrictive situation highlighted the need for efficient, innovative, and faster methods of making healthcare available to all.
Professionals were forced to rely heavily on new technologies such as telemedicine, robotics, etc.,
The need to adapt to a constantly altering market marked by continuous changes in customer lifestyles, technological advancements, and financial requirements.
Also, medical professionals retain an equal focus on getting to know their customers from a relationship-based approach.
All these factors have led to the growth of the patient engagement solutions market. What the present market requires is a patient engagement solution that helps not only in acquisition but also retention.
The other factors shaping the patient engagement solutions market include:
- Increased adoption of digital solutions in the medical world.
- An abundance of critical illnesses.
- Technology-savvy patients.