Business Models Focusing on Patient Centricity Driving Incremental Value in the Global Digital Patient Engagement Solutions Market, 2025

Business Models Focusing on Patient Centricity Driving Incremental Value in the Global Digital Patient Engagement Solutions Market, 2025

Growth Strategies to Revolve Around Value-based Care and Population Health Management Initiatives

RELEASE DATE
17-Nov-2020
REGION
North America
Research Code: MF66-01-00-00-00
SKU: HC03339-GL-MT_24774
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Description

Healthcare is evolving, more so after the Coronavirus 2019 (COVID-19) pandemic that hit us in the beginning of 2020. Over time, we have seen surveys that indicate that patients want more control of their healthcare and be active participants of their treatment decisions. Innovations in technology and recent developments in the healthcare ecosystem are strengthening the patients’ role in clinical decision-making and reshaping their expectations from healthcare systems and other stakeholders. Better clinical outcomes and patient experience throughout the care continuum, more accessible information in the hands of not just doctors but also patients, communication and, most importantly, staff satisfaction are some of the areas of incremental value realized by healthcare providers globally. Ensuring proper c1are is centered on patients has a strong relationship with healthcare systems moving towards value-based care, personalized care, as well as coordinated care. While, these may be farfetched (at least in some parts of the world), moving in this direction is the only way forward. This study specifically analyzes how digital health tools are being used to encourage patients to participate in their healthcare journeys. Patient engagement forms the cornerstone of effective care delivery and various vendor types are operating in this market. This study involves understanding the landscape for patient engagement, and how different vendor types operate in it. The most interesting part about patient engagement is how it applies to every actor of the healthcare ecosystem - the patient of course, the physician/ hospital, pharmaceutical company, medical device vendor, as well as diagnostic companies, and finally the payer. We all know that patient engagement has not evolved equally in all parts of the world. However, it is important to identify the nuances and understand what works and what does not in each of these regions – North America, Europe (including the United Kingdom), Asia-Pacific (APAC), Middle East, and Latin America (LATAM). What works, what does not, who are the key players are important to understand. Finally, while patient engagement is a growth opportunity in itself, this study unravels the finer, more actionable opportunities that vendors must tap into in order to be successful. The need of the hour is not just tools for getting closer to the patient and winning their confidence, but also designing effective engagement strategies with all current and future patient characteristics in mind. Addressing the right patient at the right time, assessing individual needs, and then tailoring information to each patient are key goals of not just providers, but also payers, pharmaceutical firms, and med-tech companies. The patient engagement ecosystem is not easy to define, but one thing that is certain is that there is something for every stakeholder.

Author: Chandni Mathur

RESEARCH: INFOGRAPHIC

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Table of Contents

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Global Patient Engagement Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Digital Patient Engagement Solutions—Scope of Analysis

Defining Patient Engagement

Patient Engagement Today—Patient Voice

Patient Engagement of the Future—Patient Voice

Connected and Quantified Patient

Decoding and Segmenting the Digital Patient Engagement Solutions Market

Global Digital Patient Engagement Solutions Market Segmentation

Application Areas Across the Care Continuum

Comparison of Patient Engagement Tools

Assessing the Penetration of Key Digital Health Tools by Stakeholder Type

Product/Service Lifecycle Analysis

Evolving Role of Patient Engagement Driven by Fundamental Changes in Healthcare Systems Globally

Role of Patient Engagement Interfaces in Achieving Healthcare Targets

Understanding How Patient Engagement Contributes to These Concepts

Key Aspects of Effective Patient Engagement Strategies

Data Sources for Creating Effective Patient Engagement Strategies

Electronic PROMs

Electronic PROMs (continued)

Social Determinants of Health

The Growth of Direct-to-Consumer Models

Patient Engagement in Times of a Pandemic or Natural Calamity

Digital Tools will Enable Virtualization of Care Delivery in a Post-Pandemic World

Risk Mitigation Strategy Timeline

Key Benefits and Challenges to the Adoption of Technology for Patient Engagement

Growth Drivers for Digital Patient Engagement Solutions

Growth Restraints for Digital Patient Engagement Solutions

Key Software Trends

Key Growth Metrics for Digital Patient Engagement Solutions

Forecast Assumptions—Digital Patient Engagement Solutions

Revenue Forecast—Digital Patient Engagement Solutions

Revenue Forecast by Segment—Digital Patient Engagement Solutions

Revenue Forecast by Region—Digital Patient Engagement Solutions

Revenue Forecast Analysis—Digital Patient Engagement Solutions

Key Vendor Types Operating in the Patient Engagement Space

The Ideal Patient Engagement Platform

Vendor Ecosystem

Competitive Environment—Digital Patient Engagement Solutions

Penetration of Patient Engagement Features

Strategy of Patient Engagement Vendors

Vendor Activity Mapping Across the Care Continuum

Vendor Types and Strategies

Vendor Types and Strategies (continued)

Vendor Types and Strategies (continued)

Typical Business Models for Patient Engagement

Patient Engagement and Healthcare Stakeholders

Patient Engagement Can Help Deliver Measurable Business Outcomes for All Healthcare Stakeholders

Assessing the Penetration of Key Digital Health Tools

Application of Digital Health with Pharmaceutical Players

Collaboration Models and Their Purpose

Case Examples

Certain Setbacks to Digital-Pharma Partnerships and Likely Trends

Growth Opportunities for the Pharmaceuticals Industry

Key Trends the Medical Device Industry will Witness

Case Examples

Patient Engagement with Device Connectivity to Patient Portals and Beyond

Software and Mobile Phone as a Medical Device for Diagnosis

Growth Opportunities for the Medical Technology Industry

By the Numbers

Global Adoption Trends of Patient Engagement Solutions and Key Vendors

Analysis of Attractiveness of Patient Engagement Solutions

Result—Regional Attractiveness Ranking and Mapping

Key Competitors for Global Digital Patient Engagement Solutions Market

Revenue Forecast Analysis by Region—Digital Patient Engagement Solutions Market

North America

Europe

APAC

Middle East

Latin America (LATAM)

Growth Opportunity 1: Focus on Oncology and Behavioral Health, 2020

Growth Opportunity 1: Focus on Oncology and Behavioral Health, 2020 (continued)

Growth Opportunity 2: Electronic PROMs More Critical as RWE Finds More Applications, 2020

Growth Opportunity 2: Electronic PROMs More Critical as RWE Finds More Applications, 2020 (continued)

Growth Opportunity 3: SDOH for Improving Health Outcomes, 2020

Growth Opportunity 3: SDOH for Improving Health Outcomes, 2020 (continued)

Growth Opportunity 4: Intelligent Virtual Assistants to Enhance the Healthcare Consumer Experience, 2020

Growth Opportunity 4: Intelligent Virtual Assistants to Enhance the Healthcare Consumer Experience, 2020 (continued)

Growth Opportunity 5: Usage of VR to Ensure Management of Chronic Conditions and Behavioral Health, 2020

Growth Opportunity 5: Usage of VR to Ensure Management of Chronic Conditions and Behavioral Health, 2020 (continued)

Growth Opportunity 6: Participation in App Store Programs of EHR Vendors, 2020

Growth Opportunity 6: Participation in App Store Programs of EHR Vendors, 2020 (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

List of Exhibits (continued)

Legal Disclaimer

Healthcare is evolving, more so after the Coronavirus 2019 (COVID-19) pandemic that hit us in the beginning of 2020. Over time, we have seen surveys that indicate that patients want more control of their healthcare and be active participants of their treatment decisions. Innovations in technology and recent developments in the healthcare ecosystem are strengthening the patients’ role in clinical decision-making and reshaping their expectations from healthcare systems and other stakeholders. Better clinical outcomes and patient experience throughout the care continuum, more accessible information in the hands of not just doctors but also patients, communication and, most importantly, staff satisfaction are some of the areas of incremental value realized by healthcare providers globally. Ensuring proper c1are is centered on patients has a strong relationship with healthcare systems moving towards value-based care, personalized care, as well as coordinated care. While, these may be farfetched (at least in some parts of the world), moving in this direction is the only way forward. This study specifically analyzes how digital health tools are being used to encourage patients to participate in their healthcare journeys. Patient engagement forms the cornerstone of effective care delivery and various vendor types are operating in this market. This study involves understanding the landscape for patient engagement, and how different vendor types operate in it. The most interesting part about patient engagement is how it applies to every actor of the healthcare ecosystem - the patient of course, the physician/ hospital, pharmaceutical company, medical device vendor, as well as diagnostic companies, and finally the payer. We all know that patient engagement has not evolved equally in all parts of the world. However, it is important to identify the nuances and understand what works and what does not in each of these regions – North America, Europe (including the United Kingdom), Asia-Pacific (APAC), Middle East, and Latin America (LATAM). What works, what does not, who are the key players are important to understand. Finally, while patient engagement is a growth opportunity in itself, this study unravels the finer, more actionable opportunities that vendors must tap into in order to be successful. The need of the hour is not just tools for getting closer to the patient and winning their confidence, but also designing effective engagement strategies with all current and future patient characteristics in mind. Addressing the right patient at the right time, assessing individual needs, and then tailoring information to each patient are key goals of not just providers, but also payers, pharmaceutical firms, and med-tech companies. The patient engagement ecosystem is not easy to define, but one thing that is certain is that there is something for every stakeholder. Author: Chandni Mathur
More Information
No Index No
Podcast No
Author Chandni Mathur
Industries Healthcare
WIP Number MF66-01-00-00-00
Is Prebook No
GPS Codes 9564-B1,9575-B1,9600-B1,9612-B1,99BC-B1