AI In Patient Engagement Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

AI In Patient Engagement Market Analysis

The AI In Patient Engagement Market size is estimated at USD 5.40 billion in 2024, and is expected to reach USD 13.5 billion by 2029, growing at a CAGR of 20.10% during the forecast period (2024-2029).

The adoption of artificial intelligence in various patient engagement activities is increasing in the healthcare sector. AI can effectively analyze a large volume of data accurately in less time. AI-enabled tools can assist healthcare professionals in making accurate diagnoses and designing a correct treatment plan for the patient.

Moreover, there has been a surge in demand for AI-based patient engagement tools, which in turn facilitates industry expansion. For instance, in June 2023, scientists from various institutions, including Johns Hopkins University and the University of California San Diego, surveyed the potential of chatbots in healthcare, and as per the survey, around 78.6% of healthcare professionals preferred the use of chatbots for patient management. Thus, the evolving landscape of AI in the healthcare sector is expected to support the global market in the coming years.

AI-driven chatbots and virtual assistants offer 24/7 support, thereby improving accessibility and convenience. Moreover, they streamline patient engagement by offering personalized and convenient interaction and facilitating access to healthcare services. For instance, according to the Journal published by Springer Nature in September 2023, AI-driven chatbots began transforming healthcare practices, thereby improving patient care and lowering medical costs.

Thus, this capability of AI-driven tools has pushed manufacturers to develop novel communication systems for optimized healthcare practice. For instance, in October 2023, Microsoft launched a group of various healthcare solutions in Azure AI, featuring text analytics for health, a generative AI chatbot, and three additional models. The company's novel innovation is projected to streamline healthcare efficiency, thereby facilitating market expansion.

Moreover, technological advancements and the rising need to mitigate increasing healthcare costs are bolstering the adoption of AI-driven patient engagement modalities. Also, the shift toward patient-centric care has accelerated patient engagement and communication activities, thereby fostering AI’s implications for patient engagement and reducing the patient-provider gap.

For instance, in June 2023, University Hospitals, Cleveland, chose Nuance Communications Inc.’s Nuance Patient Engagement Solution to improve patient experiences via automated and expanded support. With this solution, the hospital plans to provide streamlined and patient-centric care to its patients, thereby improving care. Similarly, in September 2023, Apollo Hospitals collaborated with Google Cloud to provide AI-driven digital healthcare solutions in India. With Google’s large language models, the hospital will able to provide quick consultations and patient-centric care. Thus, the surging integration of AI healthcare platforms with hospitals is likely to facilitate market expansion during the forecast period.

Furthermore, various organic and inorganic developments undertaken by market participants in terms of partnerships, collaborations, acquisitions, and new launches are projected to create new avenues for industry expansion. For instance, in June 2024, Savista launched a cutting-edge AI capability in the form of a patient-facing digital agent. The conversational AI voice agent, Sophia, utilizes large language models and generative AI to enhance the patient experience and assist patients in resolving their healthcare financial obligations. Such introduction of cutting-edge patient-engagement tools is expected to drive patient engagement activities, and this is anticipated to uphold market uptake over the coming years.

Therefore, the above-mentioned factors, including the growing demand for AI-based solutions in healthcare practices and rising efforts by market participants to introduce cutting-edge technologies, are expected to boost market growth over the forecast period.

However, factors like data security concerns associated with AI modalities and less penetration in untapped markets are likely to hinder industry expansion.

AI In Patient Engagement Market Trends

Health and Wellness Segment is Expected to Hold a Major Market Share in the Global AI In Patient Engagement Market

AI In Patient Engagement Industry Segmentation

As per the scope of the report, AI in patient engagement involves a range of AI-driven modalities like chatbots, administration tools, and patient management platforms for patient engagement.

The AI in patient engagement market is segmented by delivery type, functionality, therapeutic area, application, and end-user. Based on delivery type, the market is segmented as cloud-based and on-premise. Based on technology, the market is segmented as natural language processing (NLP), chatbots, and computer vision. Based on functionality, the market is segmented as communication, health tracking and insights, billing and payments, administrative, patient education, and other functionalities. Further, based on therapeutic areas, the market is segmented as health and wellness, chronic disease management, and other therapeutic areas. Based on application the market is segmented as population health management, outpatient health management, and in-patient health management. Based on end user, the market is segmented as payers, providers, and other end users. The report also covers the market sizes and forecasts for the AI in patient engagement market in major countries across different regions. For each segment, the market size is provided in terms of value (USD).