On the basis of type, the patient support programs market has been segmented into disease information and resources, value-added tools and services, access to nurses or HCP via online/phone, financial assistance, co-pay or saving programs and devices such as blood glucose monitors, wireless health trackers.
||Drug & Reimbursement
|Welcome Call & Registration
||Coverage Investigation & SA
||Product or Admin Teaching
||Preparation and Safe Handling
||Dispensing and Delivery
||Controlled Distribution Management
||Compassionate Use Screening
||Advocacy and Appeals
On the basis of application, the market has been segmented into social management, health management, home healthcare management, and financial health management. Health management held the largest share of over 40.0% in 2019. Quick response and enhanced patient compliance for care achieved through engagement solutions are the major factors driving the segment. According to the National Coordinator for Health Information Technology, in May 2019, 51.0% of the patients in the hospitals in the US were offered online access to their medical records.
Home healthcare management solution is projected to be the fastest-growing segment over the forecast period as this solution helps patients to maintain appointment schedules, make online bill payments, and communicate with healthcare providers from their homes.
North America dominated the market for patient engagement solutions due to increased adoption of mhealth and electronic health record (EHR) and growing investment in patient engagement software solutions by major companies. Moreover, increasing awareness level, coupled with government spending on the healthcare sector, is expected to drive market growth. Wider adoption of innovative technologies amongst the population is expected to drive the regional market growth.
Europe held the second-largest market share in 2019 owing to publicly funded systems, such as the National Health Services (NHS) in the UK. For instance, by 2020, NHS is expected to go completely paperless. It also started to offer patients access to EHR in 2018. The Asia Pacific market is expected to witness lucrative growth during the forecast period. The need to develop new systems and replacement and development of medical infrastructure are anticipated to drive the market. Economic development in countries such as India and China also supports regional market growth.
Key Companies & Market Share Insights
The market comprises several large and small businesses. It is dominated by participants such as Allscripts Healthcare Solutions, Orion Health Ltd., Cerner Corporation, and McKesson Corporation. Major players focus on implementing new approaches such as geographic penetration, mergers, acquisitions, and collaborations to expand their market footprint. For instance, in September 2019, GetWellNetwork and Cerner partnered to narrow the gap between providers and patients from inpatient to outpatient settings and the home. This partnership aims to provide convenient access and consumer engagement.
Moreover, several startups such as SaRa Health, Babyscripts, CoHealth, Roundtrip Health, My Haven Health, Advancing Synergy, and Ask Rose have been emerging to compete with the established firms in the market.