SaaS Improvements in Patient Engagement Solutions are a Breath of Fresh Air

The design concept of patient engagement solutions revolves around augmenting the outcome for a patient. The overall enhancement of a patient’s health report at the end of their treatment – in this case – is done through the incorporation of electronic and connected medical devices and advanced IT services in a patient’s medical routine. The use of patient engagement solutions can thus help improve a patient’s chances of survival, reduce the overall duration of stay in the hospital, and consequently provide an extremely wanted reduction in costs and time. The global patient engagement solutions market, therefore, stands at an immensely advantageous ground amid a healthcare industry marred by rising healthcare costs and growing patient pools.

The global patient engagement solutions market is being projected at an astounding 23.0% CAGR within a forecast period from 2015 to 2023, with respect to its revenue. It is expected to reach US$34.94 bn by the end of 2023, after being calculated at US$6.66 bn in 2014. There are three key questions that reveal critical data on the global patient engagement solutions market, given below. The questions have been answered by industry experts from Transparency Market Research and each answer is aimed at adding to the data that readers possess.

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What Scope does SaaS Hold in Patient Engagement Solutions?

Self-hosting has been the more popular delivery method in the global patient engagement solutions market till now. In 2014, self-hosted patient engagement solutions took up a total of 43.6% of the global market’s revenue. This puts the segment at a fairly higher advantage than other segments and not without reason. Self-hosting patient engagement solutions allowed a company to avail a much more secure and flexible option and a lot of high-end clients preferred it and still do today.

However, the incoming waves of software as a service (SaaS) patient engagement solutions providers have created a key paradigm shift in the global patient engagement solutions market. SaaS is not only making it a lot easier for companies to avail patient engagement solutions quicker, but also in a highly secure form that is easy to customize, maintain, and update. SaaS patient engagement solutions are expected to progress at a CAGR of 23.6% from 2015 to 2023, allowing it be the leading segment in terms of growth rate.

Will Pharma Companies as Big an Impact on Patient Engagement Solutions as IT Services?

At the moment, the overall demand for patient engagement solutions in pharmaceuticals is low. Meanwhile, the leading revenue share in the global patient engagement solutions market in 2014 was held by hospitals and providers. At 42.4% of the market, they are expected to continue generating a large volume of demand over the coming years. A recent example includes the takeover planned by Wolters Kluwer, a global information services company, on Emmi Solutions. Although Emmi Solutions could not manage to procure significant investments by itself, Wolters Kluwer believes in the potential that they hold in the burgeoning global patient engagement solutions market.

The pharmaceutical sector will, however, take up a much more important role in the global patient engagement solutions market over the coming years. As an end user of patient engagement solutions, this sector is being projected at a massive 24.1% CAGR from 2015 to 2023.

Where Could Patient Engagement Solutions Companies be Looking in the Coming Years?

From a geographical perspective, the global patient engagement solutions market has always been more popular in developed regions. Patient engagement solutions are a part of advanced healthcare services, and therefore fare better in a region where healthcare infrastructure is already modernized and able enough. North America has consistently been the leading region in terms of the demand for patient engagement solutions.

The presence of a highly advanced infrastructure coupled with the presence of a lot of the prominent patient engagement solutions providers hoists North America to the lead in this global market. Moreover, the high rate of evolution of patient engagement solutions has allowed these players to maintain a high growth curve within North America itself.


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