Technological discoveries and shifting pricing structures are opening up new realms in patient care
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opportunities in patient care to 2030
Better connectivity, cheaper sensors, more sophisticated artificial intelligence, and machine learning have the potential to reshape patient care.
Patient care will evolve on many fronts. More sophisticated health monitoring is already here with the launch of the Dexcom G7, a continuous glucose monitor for diabetics. As well as ensuring faster diagnoses, new products and services will promote healthier behaviours among patients. We expect to see continued growth in the market for medication adherence systems and technologies, patient engagement and patient monitoring.
The patient engagement solutions market is projected to grow from $17.3 billion in 2022 to $27.9 billion by 2027, at a compound annual growth rate of 10.0%.
Key trends in patient care are automation, cost reduction, and live monitoring of patients to spot any abnormalities early. At the same time, behavioural models that increase patients’ adherence to routines that support their recovery are becoming better understood. For example, an alarm that sounds if a patient has forgotten to take their medicine. Smart watches can also notify the wearer if a health metric deviates outside their normal range, allowing users to seek help before it’s too late. Behavioural science is also playing an increasing role in improving patient compliance and engagement. Better understanding of human behaviour coupled with improved data processing are generating other refinements. For example, services using natural language processing can help increase patient engagement by encouraging patients to seek advice.
opportunities in patient engagement solutions to 2027
opportunities in patient monitoring to 2027
annual growth rate for medication adherence systems to 2025
Technology trends impacting patient care include cheaper hardware such as sensors, improved connectivity, and more sophisticated artificial intelligence and machine learning. Improved algorithms are changing the game. Pulsometers in smartwatches are now ubiquitous. This can be partly attributed to cheaper and smaller sensors, and smarter algorithms that translate readings into actual pulse counts.
A range of factors are opening up new opportunities in patient care. Improved access to hardware and data processing will continue to underpin many of the innovations in this area. Some of the biggest opportunities in patient care will be in patient monitoring, patient engagement and medication adherence. Indeed, we expect the global market for medication adherence systems and technologies to grow from $3.5 billion in 2020 to $6.0 billion by 2025 at a CAGR of 11.4%.
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