Global Patient Support Programs Market

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  • Type: Service area
  • Published : February 2021
  • Region: Worldwide
  • Country: Other
  • Report ID : 302

  • Format: PPT, PDF

Patient Support Programs Market: Analysis Report by Delivery Type, by Component (Software, Services), by End Use, by Application, by Therapeutic Area, by Region, and Segment Forecasts, 2019 – 2028

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Report Overview

The global patient engagement solutions market size stood at around USD 11.8 billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of xx% during the forecast period.

The market for patient engagement solutions is mainly driven by the increasing utilization of electronic health records for patient-centric care and the adoption of mobile health devices. According to a survey conducted by the NHS in 2019, approximately 92.0% of patients feel assured in self-managing treatment.

Market Drivers

Factors such as the growing burden of chronic diseases and a rise in the geriatric population have led to the adoption of patient engagement solutions worldwide. For instance, in 2017, according to CDC statistics, 1.3 million new cases of diabetes were recorded in the US alone. In response to the growing number of diabetic patients, companies are focusing on the development of patient-centric engagement solutions. For example, in June 2019, Allina Health launched a patient-centric engagement solution platform for improving the Diabetes Self-Management Education (DSME) program. This enables diabetic self-care clinical services, particularly for those located in remote locations. Moreover, programs such as these help in cost evaluation, operational effectiveness, and clinical outcomes.

Government support is expected to drive the adoption of patient engagement solutions in the coming years. For instance, in 2018, the FDA established the Patient and Caregiver Connection program. The program was aimed to foster engagement with patients, patient advocates, and caregivers throughout the evaluation and surveillance of medical devices.

 

1. Global Patient Support Programs Market Overview………………………………
A. Market Size
2. Market Growth Drivers………………………………………………………………….
A. Implementation of government regulations and initiatives to promote patient-centric care
B. Increasing adoption of patient engagement solutions
C. Rising number of collaborations and partnerships between stakeholders
3. Market Lineage Outlook………………………………………………………………
A. Parent Market Outlook
B. Ancillary Market Outlook
4. Patient Support Programs Market Segmentation…………………………………
A. Type
I. Disease Information and Resources
II. Value-added tools and services
III. Access to nurses or HCP via online / phone
IV. Financial Assistance, co-pay or savings programs
V. Devices such as blood glucose monitors , wireless health trackers
B. Application
I. Social Management
II. Health Management
III. Home Healthcare Management
IV. Financial Health Management
C. Geography
I. North America Market Analysis
II. Europe Market Analysis
III. Asia-Pacific Market Analysis
IV. Middle-East and Africa Market Analysis
V. South America Market Analysis
5. Major Products Market Share…………………………………………………………
A. Market Analysis, Insights and Forecast to 2028
6. Competitive Landscape…………………………………………………………………
A. Major Players
B. Vendor Landscape
7. Key Company Profiles…………………………………………………………………..
A. Allscripts Healthcare Company overview, Product & Services, Strategies & Financials
B. McKesson Corporation Company overview, Product & Services, Strategies & Financials
C. Orion Health Ltd. Novartis Company, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape…………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth………………………………………………………
A. Recent Developments in the Patient Support Programs Market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Type:

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.

Health Management Drug & Reimbursement Nursing Pharmacy Risk Mitigation
Welcome Call & Registration Coverage Investigation & SA Product or Admin Teaching Preparation and Safe Handling AE Reporting
Education Package Financial Advice Clinical Monitoring Dispensing and Delivery Controlled Distribution Management
Care Coordination Bridging Drug Wellness Coaching Logistics Data Tracking
Adherence Monitoring Compassionate Use Screening Risk Assessments Product Teaching
Wellness Tracking Advocacy and Appeals Product Administration
Community Referrals Disease Education

 

By Application:

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.

By Region:

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.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

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  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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