Interactive Patient Engagement Solutions Market Analysis by Product (In Room Television, Tablets, and Interactive Bedside Terminals); by End User (Hospitals, Clinics, and Others) and by Type (In-Patient, and Out-Patient) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035
Buy Now Report ID: 3672 | Published Date: Apr 01, 2023
The global interactive patient engagement solutions market is estimated to garner a revenue of USD 80 Billion by the end of 2035 by growing at a CAGR of ~17% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 15 Billion in the year 2022. The growth of the market over the forecast period can be majorly attributed to the rising global burden of chronic diseases such as obesity, hypertension, diabetes, stroke, arthritis, and many more. It is observed that every year chronic diseases, specifically cardiovascular disease (CVD), type 2 diabetes, cancer, and chronic respiratory disease, account for over 50% of all global deaths.
Interactive patient engagement systems improve patient outcomes and make the work of healthcare teams safer and simpler. It also manages an end-to-end stress-free patient engagement ecosystem. The solution is now moving beyond the availability of a TV or tablet in the patient’s room to an entire system of people, software, technology, sensors, and robots supporting patients across the care continuum globally. Hence, the global interactive patient engagement solutions market growth is expected to elevate with the escalating use of advanced technologies such as wearables, patient education portals, mobile apps, and others.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~17% |
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Base Year Market Size (2022) |
~ USD 15 Billion |
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Forecast Year Market Size (2035) |
~ USD 80 Billion |
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Regional Scope |
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Growth Drivers
Challenges
The global interactive patient engagement solutions market is segmented and analyzed for demand and supply by product into in-room television, tablets, and interactive bedside terminals. Out of these segments, the tablets segment is estimated to gain the largest market share in the year 2035. The growth of the segment can be attributed to the growing use of sensor-based medical devices together with the expanding medical device industry worldwide. As per an estimation the medical device industry in India is estimated to make ~USD 50 Billion by 2025. Moreover, the widespread incorporation of medical-grade tablets which has varied applications such as providing real-time patient data, access to patient-controlled robots, patient edutainment solutions, and remote monitoring programs along with the user-friendly experience provided by them help patients to stay informed and involved with their treatment plans besides its lowering costs, greater patient compliance, proactive interventions, improved communication, and higher-quality care is expected to back the segment growth.
The global interactive patient engagement solutions market is also segmented and analyzed for demand and supply by end-user in hospitals, clinics, and others. Amongst these three segments, the hospital segment is expected to garner a significant share in the year 2035. The growth of the segment can be attributed to the increasing patient pool worldwide as well as the preference for hospital treatment amongst the majority of them. It was observed that nearly 16 million finished admission episodes (FAEs), of which ~6.0 million were emergency admissions were encountered in the United Kingdom in 2022. Moreover, the rising use of telehealth amidst the COVID-19 pandemic as well as inventions in the healthcare sector post corona led to the development of various social distance-conscious applications with augmenting employment of IoT-connected devices in hospital settings. All these factors are also expected to boost segment growth in the upcoming years.
Our in-depth analysis of the global interactive patient engagement solutions market includes the following segments:
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By Product |
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By End-User |
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By Type |
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The North American interactive patient engagement solutions market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market in the region over the forecast period can be attributed to the growing efforts to curb the escalating healthcare spending in the region as well as the rising number of government initiatives for supporting the digitization of the medical sector with the adoption of engagement solutions. As per findings, U.S. healthcare spending rose by ~2.7% in 2021, reaching nearly USD 4.3 trillion or ~USD 12,914 per person. Further, as a share of the nation's Gross Domestic Product, health spending accounted for about 18.3%.
The Asia Pacific interactive patient engagement solutions market, amongst the market in all the other regions, is projected to hold the second largest share over the forecast period. The growth of the market in the region over the forecast period can be attributed to the exponentially burgeoning population as well as the increasing medical tourism in the region, both resulting in the rising pool of patients. It was found that owing to the availability of low-cost treatments, over 560 lacs trips were made to India in 2022 for medical purposes solely. Moreover, the growing number of partnerships and collaborations to improve the quality of healthcare management systems, as well as increasing initiatives by healthcare service providers to reduce the personal aspect involved in the healthcare sector of the region is also expected to offer profitable opportunities to the market in the near future.
Further, the market in Europe, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the expanding investment in the IT infrastructure as well as growing subscribers of interactive patient engagement solutions in the region, mostly the geriatric population besides the rising adoption of these solutions by working middle age people is expected to propel the market growth in the region over the forecast period.
GetWell Network Inc., a provider of digital patient engagement solutions, tools, and success strategies launched GetWell Anywhere, which is a mobile experience providing patients easy access to engagement solutions on their personal devices across interactive patient care settings.
SONIFI Health a division of SONIFI Solutions, the largest provider of guest engagement technology solutions for global hospitality brands joined hands with Siemens Connect Ecosystem. The partnership will be aimed at serving healthcare systems shifting towards smart rooms with SONIFI Health’s patient engagement system.
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In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Author Credits: Abhishek Verma, Hetal Singh
Ans: Rising use of artificial intelligence in the healthcare sector together with the widespread penetration of wearables are some major factors driving the growth of the interactive patient engagement solutions market.
Ans: The market is anticipated to attain a CAGR of ~17% over the forecast period, i.e., 2023 – 2035.
Ans: The requirement of huge capital investment is estimated to be the growth hindering factor for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Ans: The major players in the market are Onyx Healthcare, Inc., Hospedia Ltd., i3solutions, Inc., Advantech Co., Ltd., GetWellNetwork, Inc., PDI Communications, Inc., and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by product, end-user, type, and by region.
Ans: The tablets segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
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