Patient Engagement Solutions Market Size is Expected to More than Double by 2023

Value-based programs, increasing geriatric population, and government regulations on patient-centric care are driving the growth of the patient engagementsolutions market across the world. Having already generated over $8 billion in 2017, the market size is expected to more than double by 2023. The communication between patients and healthcare providers is generally referred to as patient engagement. The market includes all software and hardware that facilitate this communication and the services imparted via these.

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Government regulations on patient-centric care have been one of the major growth-driving factors for the patient engagement solutions market. For instance, the U.S government, under its EHR Incentive Programs of 2009, offers healthcare professionals incentives to implement electronic healthcare records (EHRs). Apart from storing patient data digitally, patient engagement solutions are also required for implementing value-based programs. The demand for such programs is rising, as these benefit patients as well as healthcare providers. 

Another significant factor contributing to the market growth is the growing geriatric population, which is more prone to chronic diseases. As these diseases need constant monitoring, especially in the case of elderly patients who cannot make regular hospital visits, patient engagement solutions have become indispensable for their effective health management. Further, as people have become more tech-savvy, wearable healthcare devices are registering increased sales. These devices are replacing hospital visits, taking the patient engagement solutions market forward.

Within APAC, patient engagement solutions are expected to be utilized the most for chronic diseases, compared to other therapeutic areas that include women’s health, mental health, and fitness. Further categorizing chronic diseases, cardiac issues and cancer will contribute the largest revenue to the patient engagement solutions market during the forecast period. Among on-premises, cloud-based, and web-based solutions, those that connect patients and doctors via cloud will register the fastest growth in the market.

Thus, it can be said that while advancements in patient engagement solutions technology and increased government support toward their adoption are important factors driving the market growth, the rise in geriatric population and incidents of chronic diseases cannot be ignored.

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Mass Spectrometry Market is Growing Rapidly in Life Science and Clinical Sector

The demand for mass spectrometry is growing rapidly in life science and clinical sector. Some of its most common applications in life science and clinical studies are determination of protein structure, interactions and folding; protein identification from the mass of its peptide fragment; relative or absolute quantification of proteins in a given sample; monitoring of enzyme reactions; chemical modifications; protein digestion; forensic analysis; and disease biomarkers detection. All these applications are very vital in life science and clinical studies and with increasing healthcare awareness, advanced research and development, increasing cases of drug abuse, and high number of metabolic diseases, the demand for mass spectrometer is rapidly growing. Mass spectrometer is an important analytical tool for the study of proteins. Proteomics is very difficult to analyse and study, due to the complexity of its structures. Mass spectrometry helps to analyse the composition of different biological samples and offers quantitative proteogenomics and proteomics. All these factors tend to drive the growth of the mass spectrometry market.

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Europe had the second largest share in the mass spectrometry market in 2015, with 26.0% share. Increasing food safety concern, growing demand in life science & clinical analysis sector and technological advancements are the key growth drivers of the European market. High compliance with international GMP & GDP certification for pharmaceutical excipients has high positive impact on the European market for mass spectrometry. Forensic science and new product development offer ample growth opportunities for the European market.

Germany held the largest share (23.4%) in the European mass spectrometry market in 2015. The major factors driving the growth of the German market are high healthcare expenditure, increasing research and development for drug discovery, increasing demand for clinical testing and increasing environment applications.

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The key companies operating in the mass spectrometry market include Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific Inc., Bruker Corporation, Agilent Technologies Inc., Waters Corporation, PerkinElmer Inc., LECO Corporation, Dani Instruments S.p.A, Protea Biosciences Group Inc., Microsaic Systems PLC, Endress+Hauser Inc., Jeol USA Inc., and Elico Ltd.

GLOBAL MASS SPECTROMETRY MARKET SEGMENTATION

By Platform

• Hybrid Mass Spectrometry
• Triple Quadrupole Mass Spectrometry
• Quadrupole Time-of-Flight (Q TOF) Mass Spectrometry
• Fourier Transform Mass Spectrometry (FTMS)
• Single Mass Spectrometry
• Quadrupole Mass Spectrometry
• Ion Trap Mass Spectrometry
• Time-of-Flight (TOF) Mass Spectrometry
• Other Mass Spectrometry

By Application

• Drug discovery and development
• Proteomics
• Clinical Testing
• Environment
• Others

By End User

• Pharmaceuticals
• Life science and Biotechnology
• Academic and Research Institute
• Hospitals
• Others

By Geography

• North America - U.S., Canada, and Rest of North America
• Europe - Germany, France, U.K., Italy, Spain and Rest of Europe
• Asia - China, Japan, India, and Rest of Asia
• Rest of the World - Brazil, Australia and Others

Source: P&S Intelligence

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