Interactive Patient Engagement Solutions Market worth $291 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 26, 2021 /PRNewswire/ -- According to the new market research 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%.
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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 paient 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.
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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.
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