Global Patient Experience Technology Market Overview
As per MRFR analysis, the Patient Experience Technology Market Size was estimated at 5.28 (USD Billion) in 2022.
The Patient Experience Technology Industry is expected to grow from 6.31 (USD Billion) in 2023 to 31.2 (USD Billion) by 2032. The Patient Experience Technology Market CAGR (growth rate) is expected to be around 19.44% during the forecast period (2024 - 2032).
Key Patient Experience Technology Market Trends Highlighted
The trend of value-based care in the industry, combined with an increase in awareness and protection of patient satisfaction, is now actively stimulating the market of patient experience technology. For instance, artificial intelligence (AI) and machine learning have made it possible for providers to improve their interaction with patients and risk outcomes. Value-based care is likely to include value-based payment.
Some key market trends include patient-centricity, adopting more digital health technologies and tools, direct caring toward patients, on the gains of actual patients, moving towards value-based payment, and relying on artificial intelligence and machine learning to make patient experiences individual.
Healthcare providers that will deploy patient experience technology effectively will have a competitive advantage in technology-enhancing patient care and engagement. Profits and costs will also be influenced positively.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Patient Experience Technology Market Drivers
Rising Demand for Patient-Centered Care
With the increasing emphasis on patient satisfaction and the quality of outcomes, there is a demand for patient experience technology solutions. Such solutions enable the patients to interact with the healthcare system more effectively, helping them to access the necessary information and support as well as to provide feedback on their experiences.
In such a way, healthcare providers can focus on patient-centered care, improving patient engagement, gaining their trust, and promoting better health outcomes.
Advancements in Healthcare Technology
The fast development of healthcare technology is creating a path for advanced patient experience technology solutions. The various applications of artificial intelligence, machine learning, and data analytics in patient experience platforms help providers create personalized and automated care plans, as well as understand patients’ needs better.
The patient experience is becoming more convenient, functional, and suitable for individual requirements thanks to technological advancements.
Increasing Focus on Patient Experience Measurement
Healthcare companies are realizing the need to measure and monitor patient experience more than ever before. Patient experience technology solutions provide advanced tools for measuring, collecting, analyzing, and reporting patient feedback.
The measurements allow healthcare providers to find areas for improvement, compare the results with the industry standards, and measure the value of their patient-focused initiatives. The need for measurement, assessment, and improvement of solutions drives the demand for patient experience technology solutions in the Patient Experience Technology Market Industry.
Patient Experience Technology Market Segment Insights
Patient Experience Technology Component Insights
The Patient Experience Technology Market is segmented into software and services based on components. The software segment held the largest market share in 2023 and is expected to continue dominating the market throughout the forecast period.
The growth of this segment can be attributed to the increasing adoption of software solutions to improve patient engagement, satisfaction, and outcomes. The services segment is also expected to witness significant growth during the forecast period. This can be attributed to the growing demand for services such as consulting, implementation, and support for patient experience technology solutions.Key insights for the Component segment include: The software segment is expected to grow at a CAGR of 19.8% during the forecast period. The services segment is expected to grow at a CAGR of 18.5% during the forecast period.
The key factors driving the growth of the software segment include the increasing adoption of patient portals, patient engagement platforms, and clinical decision support tools. The key factors driving the growth of the services segment include the growing demand for consulting services to help organizations implement and optimize patient experience technology solutions.
Overall, the Patient Experience Technology Market is expected to witness robust growth over the forecast period. The growing focus on improving patient experience and outcomes is expected to drive the adoption of patient experience technology solutions, thereby contributing to the growth of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Patient Experience Technology Application Insights
The application segment of the Patient Experience Technology Market holds significant importance. Patient Feedback and Analytics solutions captured a sizable revenue share in 2023 and are projected to maintain their lead throughout the forecast period. The growing demand for real-time patient feedback and the need to improve patient satisfaction drive the segment's growth.
Patient Engagement solutions also hold a substantial market share, owing to the increasing adoption of mobile health apps and patient portals. Remote Patient Monitoring solutions are gaining traction due to the rising prevalence of chronic diseases and the need for remote care management.Care Management solutions play a crucial role in coordinating care plans and improving patient outcomes, contributing to the segment's growth.
Telehealth solutions have witnessed a surge in demand post-pandemic and are expected to continue their growth trajectory as they provide convenient and accessible healthcare services. The Patient Experience Technology Market segmentation offers valuable insights into the industry dynamics and helps stakeholders make informed decisions for strategic planning and growth.
Patient Experience Technology Deployment Mode Insights
The deployment mode segment of the Patient Experience Technology Market is divided into cloud-based and on-premises. The cloud-based segment is expected to hold a significant market share during the forecast period due to its benefits such as scalability, cost-effectiveness, and flexibility. The on-premises segment, on the other hand, is expected to witness a steady growth rate during the forecast period due to its advantages such as data security and control.
In 2023, the cloud-based segment accounted for around 60% of the Patient Experience Technology Market revenue, while the on-premises segment accounted for the remaining share.
The growth of the cloud-based segment is attributed to the increasing adoption of cloud-based solutions by healthcare providers due to their cost-effectiveness and scalability. The on-premises segment, however, is expected to witness a steady growth rate during the forecast period due to its advantages such as data security and control.
Overall, the deployment mode segment is expected to contribute significantly to the growth of the Patient Experience Technology Market during the forecast period. The increasing adoption of cloud-based solutions and the growing demand for on-premises solutions are expected to drive the growth of this segment.
Patient Experience Technology End User Insights
The End User segment of the Patient Experience Technology Market is segmented into Hospitals, Clinics, Long-term Care Facilities, and Home Health Care Agencies. Hospitals held the largest market share in 2023, accounting for over 50% of the global market revenue. The increasing adoption of patient experience technologies in hospitals is primarily driven by the growing focus on improving patient satisfaction, enhancing operational efficiency, and reducing healthcare costs.
Clinics are expected to witness significant growth in the coming years due to the rising prevalence of chronic diseases and the increasing demand for specialized healthcare services.Long-term Care Facilities are also expected to contribute to the growth of the market as the demand for specialized care for the elderly population increases.
Home Health Care Agencies are expected to gain traction due to the growing preference for home-based care and the increasing adoption of remote patient monitoring technologies.
Patient Experience Technology Regional Insights
The Patient Experience Technology Market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest regional segment, accounting for over 35% of the global market in 2023. The region is home to a large number of healthcare providers and technology companies and has a well-developed healthcare infrastructure. Europe is the second largest regional segment, accounting for over 30% of the global market in 2023.
The region has a high adoption rate of patient experience technologies, driven by government initiatives and a focus on improving patient outcomes.
APAC is the fastest-growing regional segment, with a CAGR of over 20% expected over the next five years. The region is home to a large and rapidly growing population and is seeing a rising demand for healthcare services.
South America and MEA are smaller regional segments but are expected to experience significant growth over the next five years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Patient Experience Technology Key Players And Competitive Insights
Key players in the Patient Experience Technology Market are Placing huge bets on R to unveil novel solutions that can cater to the diverse demands of healthcare providers and patients. Prominent industry magnates in the Patient Experience Technology Market are also relying on strategies such as collaborations, takeovers, and partnerships to enhance their product portfolio and establish a robust foothold in the market.
The Patient Experience Technology Market is highly dynamic and intensely competitive by nature. Numerous industry participants, including big-shot leaders and emerging competitors, are aggressively attempting to distinguish themselves based on the innovative quotient of their offerings, customer service, and additional value services.
The Patient Experience Technology Market is gaining impetus as digital health technologies show an upsurge in the application, healthcare providers strive to boost patient engagement, and the uptick in demand for more personalized health experiences is noted.
Cerner, a prominent healthcare IT solution provider, offers a complete range of services in the Patient Experience Technology Market. These include patient portals, mobile health apps, and telehealth services, which allow patients to connect with their respective care providers and access health information. Owing to its focus on patient-centered design and connectivity to other healthcare entities, Cerner has emerged as a player in dealing with the Patient Experience Technology Market. The company’s keen interest in R and technological prowess has helped it to expand its customer base.
Compared to Cerner, MEDITECH is another significant player in the Patient Experience Technology Market arena, known for providing tailored solutions and services to hospitals and health systems. Underestimating the depth of the Patient Experience Technology Market, MEDITECH offers patient portals, mobile applications, and kiosks.
Through its products and services, patients can access their health information, make appointments, and convey messages to their healthcare provider. Its customer-centric and continually innovative offerings have helped MEDITECH to consolidate its position in the Patient Experience Technology Market.
Key Companies in the Patient Experience Technology Market Include:
- PatientPop
- GetWellNetwork
- Press Ganey
- InCrowd
- Solutionreach
- SurveyMonkey
- naviHealth
- Dimensional Insight
- WELL Health Technologies
- Verint Systems
- DrChrono
- Lyniate
- Wolters Kluwer Health
- Qualtrics
- 1upHealth
Patient Experience Technology Industry Developments
The Patient Experience Technology Market is projected to witness substantial growth in the coming years. In 2023, the market was valued at USD 6.31 billion, and it is expected to reach USD 31.2 billion by 2032, exhibiting a CAGR of 19.44% during the forecast period.
The growing demand for enhanced patient experience, advancements in healthcare technology, and increasing government initiatives to improve healthcare quality are key factors driving market expansion.Recent news developments in the market include the acquisition of PatientKeeper by Roper Technologies in January 2023, strengthening Roper's position in the patient experience technology space.
Additionally, the partnership between Vocera Communications and GetWellNetwork in March 2023 aims to enhance patient communication and engagement. These developments highlight the ongoing consolidation and innovation within the market.
Patient Experience Technology Market Segmentation
Patient Experience Technology Component Outlook
Patient Experience Technology Application Outlook
- Patient Feedback and Analytics
- Patient Engagement
- Remote Patient Monitoring
- Care Management
- Telehealth
Patient Experience Technology Deployment Mode Outlook
Patient Experience Technology End User Outlook
- Hospitals
- Clinics
- Long-term Care Facilities
- Home Health Care Agencies
Patient Experience Technology Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
5.28 (USD Billion) |
| Market Size 2023 |
6.31 (USD Billion) |
| Market Size 2032 |
31.2 (USD Billion) |
| Compound Annual Growth Rate (CAGR) |
19.44% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
PatientPop, GetWellNetwork, Press Ganey, InCrowd, Solutionreach, SurveyMonkey, naviHealth, Dimensional Insight, WELL Health Technologies, Verint Systems, DrChrono, Lyniate, Wolters Kluwer Health, Qualtrics, 1upHealth |
| Segments Covered |
Component, Application, Deployment Mode, End User, Regional |
| Key Market Opportunities |
AIpowered chatbots Virtual and augmented reality Remote patient monitoring Telehealth and telemedicine Predictive analytics |
| Key Market Dynamics |
Rising patient expectations technological advancements focus on patient engagement expanding remote healthcare services digitalization of healthcare processes |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Patient Experience Technology Market is expected to reach USD 31.2 billion by 2032, growing at a CAGR of 19.44% from 2024 to 2032.
The growing demand for patient-centric healthcare, the increasing adoption of digital health technologies, and the rising focus on improving patient satisfaction are the key factors driving the growth of the Patient Experience Technology Market.
North America is expected to hold the largest market share in the Patient Experience Technology Market due to the early adoption of advanced technologies and the presence of major healthcare providers.
Patient Experience Technology is used in various applications, including patient engagement, feedback management, patient education, and care coordination.
Key competitors in the Patient Experience Technology Market include Salesforce, Oracle, Qualtrics, Press Ganey, and Medallia.
The Patient Experience Technology Market in the Asia-Pacific region is expected to grow at a CAGR of 22.5% from 2024 to 2032.
Challenges faced by the Patient Experience Technology Market include data privacy and security concerns, the lack of interoperability between different systems, and the need for skilled professionals to implement and manage these technologies.
Opportunities for the Patient Experience Technology Market include the growing adoption of cloud-based solutions, the increasing use of artificial intelligence and machine learning, and the rising demand for personalized patient experiences.
Key trends in the Patient Experience Technology Market include the shift towards value-based care, the increasing focus on patient engagement, and the adoption of patient-reported outcomes measures.
The Patient Experience Technology Market is expected to have a significant impact on the healthcare industry by improving patient satisfaction, reducing healthcare costs, and increasing operational efficiency.
