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Interactive Patient Engagement Solutions Market Segmentation by Type (In-Patient, and Out-Patient); by Product (In Room Television, Tablets, and Interactive Bedside Terminals); and by End User (Hospitals, Clinics, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • March 2021- GetWell Network launched GetWell Anywhere, which is a mobile experience providing patients easy access to engagement solutions on their personal devices across interactive patient care settings.

  • September 2020- SONIFI Health joined hands with Siemens Connect Ecosystem for a project aimed at serving healthcare systems shifting towards smart rooms with SONIFI Health’s patient engagement system.

Global Interactive Patient Engagement Solutions Market Highlights 2022 – 2030

The global interactive patient engagement solutions market is estimated to garner a sizeable revenue by growing at a CAGR of ~10% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the growing burden of chronic diseases such as obesity, high blood pressure and diabetes, coupled with the rise in geriatric population around the world. According to the Food and Agriculture Organization of the United States, in 2001, chronic diseases contributed about 60 percent of the 56.5 million total deaths in the world, with about 46 percent of the burden of the disease. This proportion raise up to 57 percent by 2020.

Along with these, the mounting need to adopt interactive patient engagement solutions, and implementation of favorable government regulations for promoting the adoption of these solutions are also crucial factors expected to boost the growth of the market in the forthcoming years. Furthermore, escalating technological advancements and digitalization initiatives in the healthcare sector, especially in emerging economies, is also projected to offer profitable opportunities to the market in the near future.

Interactive Patient Engagement Solutions Market Graph

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The market is segmented by product into in room television, tablets, and interactive bedside terminals, out of which, the tablets segment is anticipated to hold the largest share in the global interactive patient engagement solutions market. This can be accounted to the ability of these devices to simplify gathering and accessing information by just the touch of a fingertip. The mobility of tablets and the user-friendly experience provided by them is also predicted to propel the growth of the market segment in the future. Additionally, on the basis of end user, the hospitals segment is evaluated to grab the largest share over the forecast period, which can be credited to the high budgets allocated to hospitals for technological development, and large patient pool preferring hospital treatment globally.

Major Macro-Economic Indicators Impacting the Market Growth

Research and Development Expenditure Graph

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Interactive Patient Engagement Solutions Market Regional Synopsis

On the basis of geographical analysis, the global interactive patient engagement solutions market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in North America is estimated to witness the highest growth and gather the largest share over the forecast period largely on the back of the high awareness about digital healthcare products in the region. In addition, supportive government policies for digitization of pharmaceutical sector, and growing occurrence of chronic diseases are also predicted to boost the region’s market growth in the imminent time. As per the Centers for Disease Control and Prevention, as of January 2021, 6 in 10 adults in the United States have a chronic disease, and 4 in 10 adults in the country have two or more.

Moreover, the market in Asia is also assessed to register a significant growth during the forecast period ascribing to the rise in initiatives by healthcare providers to educate caregivers and patients about the benefits of interactive patient systems in the region.

Interactive Patient Engagement Solutions Market Share Image

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The global interactive patient engagement solutions market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global interactive patient engagement solutions market includes the following segments:

By Type

  • In-Patient
  • Out-Patient

By Product

  • In Room Television
  • Tablets
  • Interactive Bedside Terminals

By End User

  • Hospitals
  • Clinics
  • Others

Growth Drivers

  • Growing Burden of Chronic Diseases Around the World
  • Need to Adopt Interactive Patient Engagement Solutions

Challenges

  • High Cost of Deployment of Interactive Patient Engagement Solutions

Top Featured Companies Dominating the Market

  • SONIFI Solutions, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Onyx Healthcare, Inc.
  • Hospedia Ltd.
  • i3solutions, Inc.
  • Advantech Co., Ltd.
  • GetWellNetwork, Inc.
  • PDI Communications, Inc.
  • BEWATEC Kommunikationstechnik GmbH
  • ARBOR Technology Corp.
  • HealthHub Patient Engagement Solutions

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