Connect with us

Technology

Patient Engagement Technology Market to grow by USD 37.41 Billion from 2024-2028, driven by rising chronic disease cases and AI’s impact on market trends – Technavio

Published

on

NEW YORK, Nov. 27, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global patient engagement technology market size is estimated to grow by USD 37.41 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 20.56%  during the forecast period. Increasing cases of chronic diseases is driving market growth, with a trend towards digitization of healthcare. However, stringent regulations on patient engagement solutions  poses a challenge. Key market players include agilon health Inc., ALLSCRIPTS HEALTHCARE SOLUTIONS INC., athenahealth Inc., CipherHealth, Computer Programs and Systems Inc., DrChrono Inc., eClinicalWorks LLC, Epic Systems Corp., GetWellNetwork Inc., International Business Machines Corp., Lincor Inc., Luma Health Inc., McKesson Corp., Medical Information Technology Inc., Medtronic Plc, Oneview Healthcare Plc, Oracle Corp., Solutionreach Inc., Sonifi Solutions Inc., and Tebra Technologies Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View Free Sample Report PDF

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Delivery Mode (On-premise solution and Web and cloud-based solution), End-user (Providers, Payers, and Individual users), and Geography (North America, Europe, Asia, and Rest of World (ROW))

Region Covered

North America, Europe, Asia, and Rest of World (ROW)

Key companies profiled

agilon health Inc., ALLSCRIPTS HEALTHCARE SOLUTIONS INC., athenahealth Inc., CipherHealth, Computer Programs and Systems Inc., DrChrono Inc., eClinicalWorks LLC, Epic Systems Corp., GetWellNetwork Inc., International Business Machines Corp., Lincor Inc., Luma Health Inc., McKesson Corp., Medical Information Technology Inc., Medtronic Plc, Oneview Healthcare Plc, Oracle Corp., Solutionreach Inc., Sonifi Solutions Inc., and Tebra Technologies Inc.

Key Market Trends Fueling Growth

The Patient Engagement Technology market is experiencing significant growth as payers, providers, and individual users seek to improve healthcare consumerism. Chronic diseases like diabetes and infectious diseases require ongoing management, making telehealth, wearable devices, and healthcare apps essential tools. Women’s health and mental health are also priority areas, with next-gen healthcare focusing on patient engagement, health literacy, and care teams. Technologists and healthcare professionals are developing software and hardware solutions, including patient portals, mobile applications, and web-based, cloud-based, and on-premise systems. Payers and providers are investing in AI technologies for preventive care, arthritis management, and clinical trials. The market caters to various populations, including diabetic patients, geriatric population, and smartphone users. Healthcare benefits are maximized through consulting, support and maintenance, billing and payments, patient education, and health and wellness initiatives. Strict regulations ensure secure patient information management, while virtual consultations and social management tools enhance patient engagement. 

The healthcare industry has been significantly transformed by digitization, with technologies like AI and cloud computing playing a pivotal role. This digital revolution brings numerous advantages, such as improved doctor-patient coordination, communication among multiple physicians, real-time health information access, and enhanced data security. The benefits extend to various sectors, including genomic research, big data analysis, organ-on-chips, genetic engineering, telemedicine, and 3D bioprinting. Healthcare systems must prioritize data-driven and digital strategies to increase patient awareness and education. An informed and engaged patient base is essential for better health outcomes. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The Patient Engagement Technology market is growing rapidly as payers, providers, and individual users seek to improve healthcare experiences and outcomes. Challenges include engaging chronic disease patients, such as diabetics and geriatric population, through fitness apps, women’s health, mental health, and telehealth solutions. NextGen healthcare providers use software and hardware, including patient portals, mobile applications, and wearables, for preventive care and population health management. Healthcare consumerism demands patient education, care teams, and virtual consultations. Strict regulations ensure secure handling of patient information. Technologists develop AI technologies for preventive care, arthritis management, and clinical trials. Billing and payments, consulting, support and maintenance, and healthcare benefits are essential services. Patient engagement is key to managing deadly and infectious diseases, improving healthcare literacy, and enhancing the role of healthcare professionals, including physicians.The Health Insurance Portability and Accountability Act (HIPAA) of 1996 sets strict regulations for safeguarding patient data, known as Protected Health Information (PHI). Healthcare providers must sign a contract with patient engagement software vendors, committing to HIPAA compliance and PHI protection. HIPAA’s stringent rules limit advanced patient portal capabilities, falling short of efficient patient engagement solutions. These solutions should provide quick access to patient data, instant information transfer, and personalized communication. Despite HIPAA-supported patient portals, there is a need for more effective patient engagement technologies that meet these criteria.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This patient engagement technology market report extensively covers market segmentation by

Delivery Mode1.1 On-premise solution1.2 Web and cloud-based solutionEnd-user 2.1 Providers2.2 Payers2.3 Individual usersGeography 3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 On-premise solution-  On-premises patient engagement solutions involve purchasing licenses or software copies for use on a company’s own servers and IT infrastructure. This setup offers enhanced security as healthcare data remains onsite. However, managing and maintaining on-premises infrastructure comes with significant costs, including hardware, software licenses, and IT personnel. The high expenses associated with on-premises solutions may hinder their adoption in the global patient engagement technology market during the forecast period. Additionally, any system malfunctions or downtime can result in substantial repair costs. Despite these challenges, the on-premises segment is predicted to grow moderately due to its ability to integrate with on-premises Electronic Health Records (EHR) systems.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Patient Engagement Technology market is a dynamic and growing sector in the healthcare industry, focusing on enhancing communication and collaboration between Payers, Providers, and Individual Users. This market caters to various health needs, including Chronic Diseases, Fitness, Women’s Health, and Mental Health. It encompasses solutions for Healthcare Consumerism, Virtual Consultations, Clinical Trials, and Preventive Care. Technologies like AI, Cloud-Based, and On-Premise Software, Hardware (including mobile devices and wearables), and Patient Portals are integral to this market. Wearable devices and Healthcare apps enable users to monitor their health in real-time, while mobile applications facilitate virtual consultations and assessment timelines. Moreover, the market caters to specific health concerns, such as Chronic Diseases, Fitness, Women’s Health, and Mental Health, with tailored solutions. AI technologies play a crucial role in analyzing patient data and providing personalized care plans. The market’s growth is driven by the increasing demand for convenient, accessible, and cost-effective healthcare solutions.

Market Research Overview

The Patient Engagement Technology market is a rapidly growing sector in healthcare, focusing on enhancing communication and collaboration between Payers, Providers, and Individual Users. This market caters to various health conditions, including Chronic Diseases such as diabetes and Arthritis, Women’s Health, Mental Health, and Geriatric population. Fitness and Healthcare consumerism are significant drivers, with NextGen Healthcare and other technologists developing innovative solutions like telehealth, wearable devices, patient portals, mobile applications, and healthcare apps. These technologies facilitate assessment timelines, preventive care, and virtual consultations for Deadly and Infectious Diseases. AI technologies and Clinical trials are transforming patient care, offering personalized healthcare benefits to Diabetic Patients and other healthcare consumers. Healthcare professionals, including physicians, utilize these tools for Patient Education, Health and Wellness, Population Health Management, and In-patient Health Management. Despite the numerous advantages, the market faces strict regulations and social management challenges. The market offers various deployment models, including Web-Based, Cloud-Based, On-Premise, Software, and Hardware solutions, catering to mobile devices, wearables, and patient information management. Billing and Payments, Support and Maintenance, and Consulting services are essential components of this dynamic and evolving market.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

Delivery ModeOn-premise SolutionWeb And Cloud-based SolutionEnd-userProvidersPayersIndividual UsersGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/patient-engagement-technology-market-to-grow-by-usd-37-41-billion-from-2024-2028–driven-by-rising-chronic-disease-cases-and-ais-impact-on-market-trends—technavio-302316647.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Dr. Robert Yap Honoured with World Chinese Distinguished Entrepreneur Lifetime Achievement Award at GCET 2024

Published

on

By

PHNOM PENH, Cambodia, Nov. 28, 2024 /PRNewswire/ — Dr Robert Yap, Executive Chairman of YCH Group, has been awarded the 2024 World Chinese Distinguished Entrepreneur Lifetime Achievement Award at the Global Chinese Economic & Technology Summit (GCET 2024) in Phnom Penh, Cambodia. This prestigious award recognises Dr Yap’s enduring contributions to fostering economic collaboration, advancing regional trade efficiency, and strengthening ties within the global Chinese diaspora. His visionary leadership has been instrumental in advancing sustainable economic integration and enhancing ASEAN-China trade relations.

Strengthening Ties Within the Global Chinese Diaspora

Enhancing ASEAN-China Connectivity through ASLN: Dr Yap has been a key proponent of the ASEAN Smart Logistics Network (ASLN), which facilitates hub-to-hub connectivity across ASEAN and China. Under his leadership, YCH Group’s SuperPorts™ network integrates multimodal logistics hubs, streamlining trade flows, reducing transit times, and enhancing regional trade efficiency.

Providing Sustainable Growth Solutions: Through the SGConnect™ Initiative, YCH Group contributes to ASLN’s objectives by providing ASEAN member states with sustainable solutions to “grow without growing pains.” These initiatives combine smart technologies and green logistics to promote efficient and environmentally responsible trade flows.

Driving Collaboration Through Leadership: Dr Yap has been a steadfast advocate for the advancement of the ASEAN Economic Community for over 21 years. In 2007, under his Chairmanship, the ASEAN Business Awards (ABA) were established to celebrate the achievements of ASEAN enterprises and individuals who have excelled within the region. These awards serve as an inspiration for aspiring companies and talents, showcasing exemplary home-grown success stories.

In 2018, during his second Chairmanship term, Dr Yap spearheaded the launch of the Smart Growth Connect (SGConnect™) legacy project, ASEAN-BAC’s fifth legacy initiative. SGConnect™ provides a robust ecosystem designed to foster a resilient and connected ASEAN by addressing challenges and enabling sustainable growth.

Dr Yap’s visionary leadership has laid a strong foundation for an intelligent and resilient supply chain framework across ASEAN. The SGConnect™ model has been brought to life through landmark initiatives such as the Vietnam SuperPort™, with the Cambodia SuperPort™ and others soon to follow. These projects are instrumental in realising the vision of the ASEAN Smart Logistics Network (ASLN) by enhancing intra-ASEAN trade, strengthening ASEAN-China connectivity, and extending trade beyond the region.

Recognised for his remarkable contributions, Dr Yap was recently honoured as an Emeritus Council Member, further cementing his legacy as a champion of regional collaboration and economic integration.

With a distinguished career spanning more than four decades, Dr Yap’s innovative and forward-thinking approach continues to empower ASEAN member states and the global Chinese business community to collaborate, innovate, and drive sustainable progress in global trade.

For media inquiries, please contact: 

Cecil Chua
Head of Corporate Communications, YCH Group
Email: cecil.chua@ych.com

About YCH Group 

YCH Group is Singapore’s leading homegrown, end-to-end supply chain solutions partner to some of the world’s largest companies and favourite brands across more than 100 cities in the Asia Pacific region. YCH focuses on boosting productivity and sustainability for its customers with its proprietary best-in-class suite of award-winning solutions across industries such as fast-moving consumer goods, electronics, chemical and healthcare, cold chain logistics, and e-Commerce. A strong proponent of innovation, YCH is recognised for its 7PL™ approach in seamlessly integrating supply chain strategy with execution. 

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/dr-robert-yap-honoured-with-world-chinese-distinguished-entrepreneur-lifetime-achievement-award-at-gcet-2024-302317975.html

SOURCE YCH Group

Continue Reading

Technology

Sumitomo Corporation and Rikkeisoft Corporation Have Entered Strategic Partnership to Drive Global Digital Transformation

Published

on

By

TOKYO, Nov. 27, 2024 /PRNewswire/ — Sumitomo Corporation and Rikkeisoft Corporation today announced a strategic partnership aimed at mutual business growth and synergy creation. The agreement underscores Sumitomo Corporation’s recognition of Rikkeisoft’s capabilities and promising growth trajectory. Sumitomo Corporation – a Fortune Global 500 company – is confident that Rikkeisoft – a premier technology services provider – will support its business transformation, leveraging strengths to drive growth and accelerating new opportunities through digital and green transformation.

Rikkeisoft, which aspires to become the first Vietnamese technology company listed on the Nasdaq or NYSE, believes this partnership will enable both companies to provide comprehensive, end-to-end IT services on a global scale, accelerating clients’ digital transformation efforts. Together, the companies will deliver a full range of technology solutions, including consultancy, requirement definition, system design, development, quality assurance, implementation, and maintenance for clients worldwide.  

This partnership marks Sumitomo Corporation’s first collaboration with a Vietnamese IT enterprise. The multi-billion-dollar conglomerate has a proven track record of implementing key projects across various sectors, including manufacturing and industrial development.

Outside of Japan, Sumitomo Corporation operates in 65 countries with strong footprints in the U.S. and APAC regions. The strategic partnership from Sumitomo Corporation opens new avenues for Rikkeisoft to collaborate on digital and green transformation initiatives for businesses worldwide.  

Since its establishment in 2012, Rikkeisoft has pursued a “Go Global” strategy, consistently expanding into new markets. In 2023, the company launched its U.S. subsidiary, RKTech America Corporation, headquartered in Plano, Texas. This expansion aims to deliver high-quality, comprehensive IT solutions and services tailored to the needs of American businesses, further strengthening Rikkeisoft’s global presence.

In the APAC region, Rikkeisoft currently serves hundreds of clients across Japan, Singapore, Thailand, South Korea and beyond. To meet the growing demand for service solutions and skilled talent in digital transformation, the company has established multiple representative offices in the region, including its most recent office in South Korea in 2024.

Statement from Shunichi Aramaki, Executive Officer, General Manager of Digital Strategy Division (Sumitomo Corporation):  
“Rikkeisoft’s commitment to building trusted relationships with clients aligns well with Sumitomo Corporation’s values, and Rikkeisoft’s agile and flexible development framework closely meets the DX needs of our clients and group companies.

By combining Sumitomo Corporation’s global network and industry expertise with Rikkeisoft’s cross-border development experience, we aim to create synergies that support growth and innovation for both companies”.

Statement from Tung Ta, Chairman of Rikkeisoft:  
“By leveraging Sumitomo Corporation’s global network and financial resources, we aim to provide our IT solutions to companies worldwide and expand our market. This partnership with Sumitomo Corporation is vital in enhancing IT cooperation between Vietnam and global markets, promoting digital transformation”.  

Statement from Tung Bui, SEVP of Rikkeisoft and CEO of RKTech: 
“Through its U.S. subsidiary RKTech, Rikkeisoft will collaborate with Sumitomo Corporation’s U.S. subsidiaries to deliver greater value to clients across North and Latin America. Combining Japanese management excellence with Rikkeisoft’s technological expertise, abundant resources, competitive pricing, and a network of renowned advisors, this strategic partnership will help clients accelerate digital transformation, bring products to market faster, and reduce costs and investment”.

About Sumitomo Corporation:  
Sumitomo Corporation (TYO: 8053) is an integrated trading and business investment company with a strong global network comprising 128 offices in 65 countries and regions. The Sumitomo Corporation consists of approximately 900 companies and 80,000 employees on a consolidated basis. The Group’s business activities are spread across the following nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemicals Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of “Enriching lives and the world,” based on Sumitomo Corporation’s business philosophy passed down for over 400 years.

About Rikkeisoft Corporation:  
Founded in 2012, Rikkeisoft is one of Vietnam’s leading digital technology services companies. We provide a comprehensive range of IT services, including software development, AI/ML and data engineering, cloud solutions, product development, support and maintenance, and quality assurance. With over 2,200 engineers operating from nine development centers in Vietnam, Japan, Thailand, South Korea and the U.S., Rikkeisoft is recognized globally as a leader in digital transformation technology.  

For media, please contact:
Minh Phi
Marketing Manager
Email: minhpt@rikkeisoft.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/sumitomo-corporation-and-rikkeisoft-corporation-have-entered-strategic-partnership-to-drive-global-digital-transformation-302317979.html

SOURCE Rikkeisoft Corporation

Continue Reading

Technology

CCTV+: Uniting Against the Fall Armyworm: Science, Collaboration, and the Global Fight for Food Security

Published

on

By

BEIJING, Nov. 28, 2024 /PRNewswire/ — In an era of climate change and invasive species threatening global food systems, the fall armyworm has emerged as a relentless adversary. This migratory pest, with its voracious appetite for staple crops like corn and sorghum, has disrupted agriculture across Africa, Asia, and the Americas since its global emergence in 2016. Recognized by the FAO as a “global migratory pest”, it demands constant vigilance and international cooperation.

As a well-established mechanism for addressing global agricultural challenges, the Food and Agriculture Organization(FAO) partnered with the Chinese Academy of Agricultural Sciences (CAAS) to organize an international workshop in Huizhou, China, from November 11 to 15, 2024. Experts from Kenya, Ghana, and China gathered to exchange strategies for sustainable pest management. Organized by the Institute of Plant Protection, CAAS (IPPCAAS), the event showcased how science, innovation, and collaboration transcend borders to protect global food security.

China faced the first threat of fall armyworm was at the end of 2018 when the pest entered Yunnan Province. Swiftly responding, IPPCAAS implemented robust monitoring systems, including pheromone traps and insect radar stations, to curb its spread. These efforts evolved into the “Three Zones, Four Belts” strategy, segmenting the country into regions based on the pest’s behavior and deploying green technologies like biopesticides and genetically modified Bt corn. This innovative framework has saved millions of hectares of farmland and billions of dollars annually.

China has also actively shared its expertise worldwide. The 2019 Kunming Consensus brought together 11 Asian nations to strengthen pest control efforts. IPPCAAS further contributed as a cornerstone of FAO’s Global Action Plan, supporting pest management across Asia, Africa, and Latin America. The Huizhou workshop exemplified this global collaboration, offering practical training, such as drone-based pest control, tailored to participants’ regional needs.

 

All these endeavors in pest management has set China a global benchmark. IPPCAAS’s emphasis on early warning systems, regional cooperation, and green technologies has been lauded by the FAO, culminating in the 2024 FAO Achievement Award, recognizing not only the success of its strategies but also their broader impact: protecting crops, livelihoods, and food security for millions. As workshop participants return home equipped with new tools and knowledge, the collective message is clear—no nation can tackle these threats alone. Through shared expertise and international solidarity, the global community is building a resilient future for agriculture and food security.

Photo – https://mma.prnewswire.com/media/2569008/image_1.jpg

Photo – https://mma.prnewswire.com/media/2569009/image_2.jpg

View original content:https://www.prnewswire.co.uk/news-releases/cctv-uniting-against-the-fall-armyworm-science-collaboration-and-the-global-fight-for-food-security-302317980.html

Continue Reading

Trending