Chicago, September 14, 2022 /PR Newswire/ — Patient Engagement Technology Market expected to reach US$27.9 billion by 2027 US$17.3 billion A new report from MarketsandMarkets™ predicts a CAGR of 10.0% in 2022. The Patient Engagement Technology Market report explores and studies patient engagement technology in terms of pricing, role of Mhealth, vendor replacement trends, and selection criteria for implementation of patient engagement technology from a provider perspective.

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The patient engagement technology market is projected to grow rapidly as the healthcare industry has witnessed a shift from traditional volume-based reimbursement systems and quality care to value-based reimbursement systems. The adoption of patient engagement technology allows the healthcare industry to minimize costs while improving the quality of care. Patient engagement technology also provides a positive return on investment.

Additionally, legislative changes were made to the US Health Insurance Portability and Accountability Act (HIPAA), the Affordable Care Act (ACA), and the Health and Social Care Act of 2008. Europe, government incentives, an aging population, and growing awareness of self-monitoring of health conditions are driving the adoption of patient engagement technologies in the healthcare industry. However, despite the numerous advantages, certain barriers such as large investment requirements, fragmented end-user market, patient data security and safety are restraining the growth of this market.

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The study provides detailed information on patient engagement technology pricing, broken down into several pricing components. The report also provides insights into the alternative patient engagement technology market and the factors influencing the alternative trends. This market offers many opportunities for vendors in the market due to the lack of features and interoperability issues associated with existing patient engagement technologies.

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The findings included in the report summarize hospital purchasing behavior for patient engagement technology. Analyze hospital purchasing behavior considering the role of the hospital’s key stakeholders and the size of the hospital. Physicians are reported to use the technology primarily to improve patient communication and satisfaction, and to help patients better manage their care. The majority of patients also reported using it to view diagnostic tests and records. Selection criteria considered by providers to employ patient engagement techniques will also be considered in the scope of the study. A separate section on evaluating favorable end-user segments is added value for the report and its stakeholders. This report examines vendor replacement trends and implementations of mobile technologies used in patient engagement for various applications ( 2022) are also analyzed in detail.

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See Adjacent Market: Healthcare IT Market Research reports and consulting

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