North America Patient Support Technology Market to Grow with a CAGR of 10.75% through 2028
The integration of AI, supportive government policies,
and industry collaborations are expected to drive the Global North America
Patient Support Technology Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “North
America Patient Support Technology Market –Industry Size, Share,
Trends, Competition Forecast & Opportunities, 2028”, the North
America Patient Support Technology Market stood at USD 545.77 million in 2022
and is anticipated to grow with a CAGR of 10.75% in the forecast period,
2024-2028. This can be attributed to government initiatives and regulations. Government
policies and regulations in North America are promoting the adoption of patient
support technology. For example, the expansion of telehealth services is
supported by regulatory changes that make it easier for patients to access
remote care. This, in turn, boosts the utilization of patient support
technology. Moreover, value-based care models, which focus on delivering
quality care with a patient-centric approach, will continue to gain prominence.
Patient support technology will align with these models by emphasizing
outcomes, patient satisfaction, and cost-effective care delivery.
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S3 Connected Health played a pivotal role in the
development and implementation of the mobile and web-based system used in
Merck's digital patient support program, "MSdialog." This initiative
had a dual purpose: to monitor medication adherence and gather patient-reported
outcomes on a large scale. The outcomes were notably positive, as 77% of
patients expressed high satisfaction levels (either 'very satisfied' or
'extremely satisfied') with their digital patient support program experience
after six weeks. The expansion of the market is expected to be driven by
advancements in AI-enabled technologies. For example, AllazoHealth's AI-powered
Patient Support Program (PSP) has delivered remarkable improvements in
medication adherence. In a documented case study, patients enrolled in this
program adhered 4.6 times longer compared to those without AI support. Furthermore,
the adoption of chatbots within Patient Support Programs (PSPs) has seen a
significant surge, particularly accelerated by the COVID-19 pandemic. Chatbots
have emerged as valuable tools for addressing medication-related inquiries,
potential side effects, and providing reassurance to patients. These chatbots
come equipped with personalized profiles, enabling tailored interactions that
assist patients in adhering to their treatment regimens. For instance,
Clinikly.ai, an AI-powered chatbot accessible through web and smartphone apps,
employs a virtual nurse to offer remote patient support and plays a crucial
role in delivering personalized information, thereby enhancing the overall
patient experience.
The North America Patient Support Technology Market is
segmented into type, regional distribution, and company.
Based on its type, the integrated segment holds a
strong position in the market in 2022 and is also projected to exhibit the
highest growth rate. The growth of this segment is being driven by an increased
emphasis on patient-centered care, advancements in technology, and the demand
for more efficient healthcare processes. These solutions empower healthcare
providers to effectively interact with patients and offer personalized
treatment plans.
For example, in July 2023, Inizio Engage introduced
Patient Access Services, a comprehensive suite of patient support services
designed to enhance access to and adherence to specialty therapies. This
endeavor utilizes the Trak360 platform, which integrates advanced features to
seamlessly and securely facilitate patient interactions. These improvements
simplify the intricate aspects of patients' treatment journeys, ensuring a
fully integrated and cohesive experience from the initial diagnosis through continuous
patient engagement and support.
Based on region, the United States took the lead in
the North American market due to the higher presence of healthcare
organizations seeking structured data and automation solutions.
Major industry players are also taking strategic
measures to extend their market presence. For example, in June 2023, Mural
Health and ClinOne formed a partnership aimed at enhancing the patient
experience while reducing the operational burden on healthcare facilities. This
collaboration integrates Mural Link, a cutting-edge platform for patient
payments and participant management, into ClinOne's patient support,
streamlining the operational aspects at the site level and trial management
technology, thus improving the participant journey.
Canada is expected to experience the highest Compound
Annual Growth Rate (CAGR) during the forecast period. This growth is being
propelled by advancements in technology, a growing number of hospitals, and the
subsequent demand for integrated healthcare systems to enhance workflow
efficiency.
Major companies operating in North America Patient
Support Technology Market are:
- Deloitte LLP
- Accenture Inc
- McKesson Corp
- Cardinal Health Inc
- Inizio Engage
- DataRiver S.r.l.
- AssistRx Inc
- Medisafe
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“The North America Patient Support Technology Market
is set to experience a dynamic evolution, with AI, telehealth, personalized
medicine, and data security at the forefront. Collaborative ecosystems and the
management of chronic diseases will play significant roles in shaping the
market's future. The adoption of these key trends will redefine patient care,
delivering more personalized, efficient, and patient-centric healthcare
solutions to individuals across North America,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based management consulting firm.
“North America Patient Support Technology Market
By Type
(Standalone, Integrated), By Region, By
Competition Forecast & Opportunities, 2018-2028F”, has evaluated
the future growth potential of North America Patient Support Technology Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in North America Patient Support Technology Market.
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