Revenue Forecast

The estimated revenue for the base year 2023 is $23.50 billion, with a CAGR of 14.2% for the study period from 2023 to 2028.

The Impact of the Top 3 Strategic Imperatives on the Patient Engagement Industry

Disruptive Technologies

• Why: Technology that introduces novel ways to connect with healthcare services—such as telehealth, mobile health applications, wearables, and other cutting-edge solutions—revolutionizes patient engagement (PE) and releases it from traditional confines.
• Frost Perspective: The impact is profound—patients can now engage with healthcare providers beyond the hospital walls, anytime and anywhere. This aligns with the broader trend of patient-centric care, offering individuals the flexibility to manage their health journeys remotely. Providers will look for technologies that increase engagement through operational and administrative burden reduction.

Competitive Intensity

• Why: Hospital systems, providers, and payers must reassess their competitive stance given the imperative to engage patients effectively and foster long-term loyalty. In that sense, they are compelled to implement more agile and patient-centric approaches.Companies compete in areas beyond traditional healthcare to provide holistic solutions that prioritize seamless patient experiences.
• Frost Perspective: Surpassing the competition hinges on care quality and building and sustaining trust and loyalty through deep personalization. As healthcare becomes more consumer-oriented, the competitive landscape demands constant adaptation to patient’s needs to ensure relevance, quality, and the ability to meet evolving patient expectations.

Customer Value Chain Compression

• Why: PE platforms operating in a business-to-business (B2B) and business-to-consumer (B2C) capacity leverage the innovative distribution channels that technology facilitates.
• Frost Perspective: This evolution will reshape patient interactions, rendering them more seamless, direct, and efficient, and fostering a more patient-centric approach. Patient adherence will increase for companies that invest in the digital front door.

Scope of Analysis

• This Frost & Sullivan analysis examines PE as a concept and investigates its global uptake.
• PE platforms are software applications that help hospitals, clinics, and health systems engage their patients across the healthcare continuum.
• PE tools foster involvement, loyalty, compliance, and adherence among patients. They allow seamless communication with healthcare providers about various clinical and administrative aspects.
• Digital health tools that enable and strengthen PE include online patient portals, mobile health applications, wearable devices, remote monitoring devices, telehealth services, electronic health records (EHR), other integrated tools, and medication adherence/reminder tools.
• Frost & Sullivan has analyzed global adoption drivers, determined restraints and growth factors, identified opportunity hotspots, and examined the scope for PE tools uptake until 2028.

Industry Segmentation by Geography

North America

• Canada, United States

Western Europe

• Andorra, Austria, Belgium, France, Germany, Italy, Liechtenstein, Luxembourg, Monaco, Netherlands, Portugal, San Marino, Spain, Switzerland

Asia-Pacific

• Afghanistan, Australia, Bangladesh, Bhutan, Brunei, Cambodia, China, Fiji, India, Indonesia, Japan, Kiribati, Laos, Malaysia, Maldives, Micronesia, Mongolia, Myanmar, Nauru, Nepal, New Zealand, Pakistan, Palau, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, South Korea, Sri Lanka, Taiwan, Thailand, Timor-Leste, Tonga, Tuvalu, Vanuatu, Vietnam

Rest of the World

• Africa, Central America, Eastern Europe, Middle East, South America

Competitive Environment

Key Competitors

• Artera
• Allscripts
• Athenahealth
• Cedar
• Cipherhealth
• Epic Systems Corporation
• Flywire
• Healthwise
• Innovaccer
• Luma Health
• Lumeon
• McKesson Corporation
• MEDITECH
• NextGen Healthcare
• Notable
• Onview Healthcare
• Optum
• Oracle Health
• Pack Health
• PatientPoint
• Payground
• Phreesia
• R1 RCM
• Relatient
• RevSpring
• Salesforce
• Solutionreach
• SONIFI Health
• Televox
• Waystar
• Weave
• Ada Health
• Doctolib Sili
• eConsult Health
• Health Tap
• Healu
• Lantum
• Mjog by Livi
• my mhealth
• Pando Health
• Patient Access
• DigiQure
• Doctor Anywhere
• Lyrate
• MiraMed Ajuba
• MyDoc
• Orion Health
• Ping An Good Doctor
• Practo
• WeDoctor
• Zocdoc