(I-BusinessNews.Com, October 08, 2021 ) The Report "Interactive Patient Engagement Solutions Market by Product (In Room Television, Interactive Bedside Terminals, Tablets), Type (Inpatient, Outpatient), End User (Hospitals, Clinics), Region – Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 291 million by 2026 from USD 127 million in 2021, at a CAGR of 17.9%.
Browse in-depth TOC on "Interactive Patient Engagement Solutions Market"
The growth of this interactive patient engagement solutions market is driven by the need for the adoption of improved interactive patient engagement solutions, growing number of collaborations and partnerships between stakeholders, and favorable government regulations and initiatives to promote the adoption of these solutions.
The companies have a large market spread across various countries in North America, Europe, Asia Pacific, and the Rest of the World.
The COVID-19 pandemic has led to several layoffs, salary cuts, delayed cash flow from the employer to the employee, and an overall drop in the financial sector. Millions were laid off in the US in April 2020, and a 15.8% unemployment rate is expected to rise from the private sector. This makes it difficult for people to pay for basic sanitation and health services. Patients believe that the interactive patient engagement services offered by hospitals can further increase the hospital bills. This is expected to hamper the adoption of these solutions.
In Room Television segment is expected to grow at the highest CAGR
On the basis of product, the interactive patient engagement solutions market is segmented into in-room televisions, interactive bedside terminals/assistive devices, and tablets. In 2020, the in-room televisions segment accounted for the largest share of 51.5% of the global patient engagement solutions market. The large share of this segment can be attributed to the rising development of TV-based solutions and the increased adoption of in-room televisions by hospitals.
Hospitals to establish the largest and fastest growing market size of Interactive patient engagement solutions market
Based on end users, the market is segmented into hospitals, clinics, and other end users. In 2020, the hospitals segment accounted for the largest share of 81.8% of the patient engagement solutions market. The large share of this segment can be attributed to the rising demand for IT tools to tackle the demand of hospital staff and the increasing demand for effective communication tools.
North America to Witness Significant Growth from 2021 To 2026
In 2020, North America accounted for the largest share of 60.9% of the interactive patient engagement solutions market. This market is also expected to grow at the highest CAGR during the forecasted period. The large share and the high growth of this market can be attributed to favorable government initiatives, the rising prevalence of chronic diseases, and rising awareness about digital healthcare products.
Some of the prominent players operating in the Interactive patient engagement solutions market are GetWellNetwork, Inc., SONIFI Health, Barco, Advantech Co., Ltd., Epic Systems Corporation, Allen Technologies, ARBOR Technology Corp., HealthHub Patient Engagement Solutions, i3solutions, Inc., Aceso Interactive, Inc., HCI, Inc., Remedi Technology, Lincor Solutions, Hospedia, Onyx Healthcare, Inc., BEWATEC Kommunikationstechnik GmbH, eVideon, PDI Communications, Inc., ClinicAll, Hôpitel.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Industry resource center today to browse our selection of 600+ complimentary Industry magazines, white papers, webinars, podcasts, and more. Get popular titles including: