Research Nester assesses the growth and market size of the global patient engagement solutions market which is anticipated to account for the highest revenue due to the increasing automation of industrial and manufacturing facilities.
Research Nester’s recent market research analysis on “Patient Engagement Solutions Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitor’s analysis and a detailed overview of the global photoelectric sensors market in terms of market segmentation by component, application, functionality, end use and by region.
Better Mental Healthcare Outcomes for Implementing Patient-Engaging Solutions
The patient engagement solutions market is playing a pivotal role in improving the mental healthcare infrastructure. With an effective therapeutic and counseling plan, healthcare providers adhere to optimum patient results. According to an NLM report published in September 2023, internet-based CBT has been proven to be most effective for mental health. The study further states, that 80% population of America is now willing to trust AI-powered patient-engaging tools to manage their mental conditions. Thus, [RB1] providers are now seeking companies to build flexible engaging tools to offer tailored experiences.
The tendency to resonate with individual needs and preferences encourages leaders to bring technological advancement to this sector. For instance, in July 2021, Amwell acquired SilverCloud Health to optimize a range of evidence-based digital cognitive behavioral health programs. [RB2] Such developments are also highlighting the importance of mental health for overall well-being. Further, creating opportunities for future management innovations for this health category.
Some of the major growth factors and challenges that are associated with the growth of the global photoelectric sensors market are:
Growth Drivers:
· Governmental policies to promote patient engagement
· Growing prevalence of chronic conditions
Challenges:
Insufficient infrastructure in the patient engagement solutions market can be a major setback in the process of adoption. Many healthcare providers are not equipped with the upgraded systems to support the engaging tools in operation. Moreover, limitations in integrating new technologies with legacy systems may hinder the seamless data flow. Customized and personalized engaging solutions require continuous adaptation of new technologies. This can further result in additional expenses, increasing the distribution cost. Additionally, restricts adoption due to the heightened budget for smaller healthcare organizations.
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In terms of functionality, the patient engagement solutions market consists of several segments. These are distributed as communication, health tracking & insights, billing & payments, document management, patient education, and others. The communication segment is subjected to hold greater growth potential during the forecast period. Leaders are investing in research to elevate multi-channel and real-time communication through technological advancements. In June 2024, MedAdvisor launched Omnichannel for pharmacy. The AI-enabled platform, THRiV allows pharmacies to design customized programs to improve medication outcomes.[RB3]
By region, the Europe patient engagement solutions market is predicted to generate remarkable revenue by the end of 2037. Development in technology-driven countries is heavily contributing to the fast-paced growth of this region. Government initiatives are also participating actively through funding to develop infrastructure. For instance, in June 2024, NHS England announced to raise funding of USD 0.3 billion for a digital patient engagement framework.[RB4] As a result, the research and development speed in Europe is accelerating to foster the potential of leading the global market.
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This report also provides the existing competitive scenario of some of the key players of the market, including American Well Corporation, Athenahealth, Cerner Corporation, Epic Systems, Garmin, Lincor Inc., McKesson, MEDHOST, Oracle, Orion Health, Teladoc Health, Veradigm LLC, and others.
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