Patient Engagement Solutions Market: Opportunities and Challenges

Patient Engagement Solutions Market: Opportunities and Challenges

Key players in the market include McKesson Corporation (US), Allscripts (US), IBM (US), athenahealth, (US), Cerner Corporation (US), and Orion Health (New Zealand).
Factors such as a rise in the aging population, increasing burden of chronic diseases and focus of patients on self-managing their care has led to an increase in the adoption of patient engagement solutions globally.

The Patient Engagement Solutions Market is projected to reach USD 18.68 Billion by 2022 from USD 7.49 Billion in 2016, at a CAGR of 16.2%, as per a report by MarketsandMarkets. 

Why wearable health technology presents a good opportunity?

Wearable health devices are capable of tracking medically useful health information. Increased data processing power, faster wireless communication with higher bandwidth, and improved design of microelectronics and sensor devices are the major factors that have contributed to the rapid uptake of wearable devices.

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Ambient sensors as well as easy-to-wear wearable/implantable devices equipped with continuous multimodal sensing capabilities and support for data fusion are being deployed in a wide range of clinical applications. However, most healthcare facilities are not equipped to process and protect data tracked by wearable devices. In this regard, discovering how wearable health technology can be deployed in remote monitoring scenarios and how it can help detect the early stages of serious medical conditions is a huge opportunity for stakeholders.

Why lack of health literacy remains a challenge?

Health literacy is the ability to find, read, and use health-related information to make decisions about one’s own healthcare. Health literacy is a major concern across the US, as more than 90 million adults have low health literacy in the country. As a result, these individuals have difficulty in understanding and using health information such as instructions contained in prescriptions or on medicine bottles, appointment receipts, informed consent documents, insurance forms, and health educational material. Also, patients with low levels of health literacy do not have the ability to make decisions regarding their health. This is due to their lack of familiarity with medical conditions and the medical context of provided materials. In addition, educational material is often not written at a level that patients with limited health literacy can grasp; the situation is exacerbated when their primary language is not English. For instance, when given the instructions, “Take two tablets by mouth twice daily,” fewer than 35% of patients with limited literacy skills could correctly interpret the number of pills they should take in one day. Thus, patients with low health literacy levels face an increased risk of not being engaged with their health, affecting the quality of care delivered to them. As a result, the lack of health literacy is one of the major challenges for the adoption of patient engagement solutions.

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