eHealth Market Size To Reach USD 230640.4 Million By 2027 at a CAGR Of 14.5% - Valuates Reports
BANGALORE, India, March 18, 2021 /PRNewswire/ -- The eHealth Market is Segmented by Type (Electronic Health Record (HER); Vendor Neutral Archive (VNA), Picture Archiving, & Communications Systems (PACS); Laboratory Information Systems (LIS); Telehealth; Prescribing Solutions; Medical Apps; Clinical Decision Support Systems (CDSS); Pharmacy Information Systems; and Others) and End User (Healthcare Providers, Payers, Healthcare Consumers, and Others). This report covers Global Opportunity Analysis and Industry Forecast from 2019 to 2027. This report is published on Valuates Reports in the Health Category.
The global eHealth market was valued at USD 74476.4 Million in 2019 and is projected to reach USD 230640.4 Million by 2027 at a CAGR of 14.5% from 2020 to 2027.
Major factors driving the growth of eHealth market size are
- Digital records improve medical care, reduce healthcare costs, increase efficiency, reduce error, and enhance patient satisfaction by easy access.
- Increasing number of smartphone users and innovation in medical apps.
- Increase in government initiatives to manage regulatory compliance through the use of eHealth solutions.
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TRENDS INFLUENCING THE eHealth MARKET SIZE
An increasing disposable income is propelling the number of smartphone users. This, in turn, is expected to raise the number of people opting for mhealth apps, thereby increasing the growth of the eHealth market size. Mhealth apps enable easy access and sharing of medical records and are targeted for specific medical conditions, health related education, mobile diagnostics and other use cases.
The rise in adoption of electronic health records (EHR) and other hospital information systems by healthcare providers is expected to drive the eHealth market size. EHRs help provide accurate, up-to-date, and complete information about patients at the point of care, thereby enabling quick access to patient records for more coordinated, efficient care.
The growing use of eHealth solutions in outpatient care facilities is expected to increase the eHealth market size. A majority of healthcare organizations are focused on implementing specialized outpatient facilities in response to increasing demands on health systems to reduce healthcare costs. This transition to an outpatient care model is spurring the adoption of eHealth solutions, which provide a streamlined way to deliver treatment.
The rising adoption of Telemedicine is fueling the growth of the eHealth market size. Telemedicine is being increasingly accepted by the urban population due to the convenience it offers. Furthermore, the recent COVID-19 pandemic has further increased the number of people opting for telemedicine consultations. All these factors are increasing the growth of the eHealth market size.
However, the increasing demand for protected data protection infrastructure and growing security issues are expected to stifle the growth of these services. Furthermore, the lack of supporting infrastructure in developing regions, as well as the high cost of health IT tools, are expected to limit the industry's growth.
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eHealth MARKET SHARE ANALYSIS
Based on product, the medical apps segment is expected to rise at the fastest rate during the forecast period. This is due to increased demand for high-quality healthcare services and solutions, increased adoption of mobile health activities, increased demand for better patient safety and treatment, and increased government efforts to support eHealth. Furthermore, the market is growing due to an increase in the adoption of smartphones, tablets, and other mobile platforms.
Owing to the increased use of electronic health records (EHR) and other hospital information systems by healthcare providers, the healthcare provider solution held the largest market share based on end-user.
Based on region, North America held the largest market share in 2019 and is expected to maintain its dominance from 2020 to 2027. This is due to favorable regulatory scenarios toward eHealth, the surge in adoption of eHealth solutions to curtail soaring healthcare costs, regulatory requirements regarding patient safety, and the presence of a large number of eHealth companies. On the other hand, the Asia-Pacific region is predicted to exhibit the highest CAGR of 17.2% during 2020-2027.
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Key Market Segments
By Type
- Instruments
- Electronic Health Records (EHR)
- Vendor Neutral Archive (VNA), Picture Archiving, & Communications Systems(PACS)
- Laboratory Information Systems (LIS)
- Telehealth
- Prescribing Solutions
- Medical Apps
- Clinical Decision Support Systems (CDSS)
- Pharmacy Information Systems
- Others
By End User
- Healthcare Providers
- Payers
- Healthcare Consumers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Australia
- Japan
- India
- China
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East and Africa
Key Players:
- UnitedHealth Group
- Teladoc Health
- Siemens AG
- Medtronic Inc
- Koninklijke Philips
- International Business Management Corporation
- General Electric Company
- CISCO SYSTEMS INC
- Athenahealth
- Allscripts Healthcare Solutions
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SIMILAR REPORTS :
- The global Digital Health market size is projected to reach USD 95430 Million by 2026, from USD 77240 Million in 2020, at a CAGR of 22.4%% during 2021-2026.
- The global mHealth Apps market size is projected to reach USD 101,550 Million by 2026, from USD 30,160 Million in 2019, at a CAGR of 18.4% during the forecast period 2021-2026
- The mHealth market accounted for USD 46.048 Billion in 2019, and is expected to reach USD 230.419 Billion by 2027, registering a CAGR of 22.3% from 2020 to 2027.
- The global Digital Healthcare market size is projected to reach USD 296590 million by 2026, from USD 182820 million in 2019, at a CAGR of 6.7% during 2021-2026.
- The Digital Health Service market is segmented by Type -Wearable Devices, Telehealth and Telemedicine, Personalized Medicine, and by Application - Hospital Care, Home Care, Other. Players, stakeholders, and other participants in the global Digital Health Service market will be able to gain the upper hand as they use the report as a powerful resource.
- eHealth Services Market is segmented By Type - EHR, ePrescribing, Telemedicine, Clinical Decision Support, Consumer health IT, by Application - hospitals, Clinics, Others, by key players , by Regions: North America, Europe, China and Japan, etc.
- The Telehealth Market is segmented By Type - Web-based, Cloud-based, On-premise, by Application - Providers, Payers, Patients, Employer group, Government bodies, by key players , by Regions: North America, Europe, China and Japan, etc.
- Next Generation Telehealth Market by Product-Type: Appointment Management, Data Management, Vital Sign Telemonitoring, Application: Hospitals, Clinics, Others, by key players , by Regions: North America, Europe, China and Japan, etc.
- Electronic Health Records Market by Product-Type: Web Based, Client Server Based, Software as Services, Application: Hospital, Physician Office, Ambulatory surgery centers, Others, by key players , by Regions: North America, Europe, China and Japan, etc.
- Electronic Health Records Software Market by Product-Type: Open Source Software, Non-open Source Software, Application: Hospital, Clinical, Other, by key players , by Regions: North America, Europe, China and Japan, etc.
- Laboratory Information System (LIS) Market by Product-Type: On-premises LIS, Cloud-Based LIS, Application: Hospitals, Clinics, Independent Laboratories, Other, by Regions: North America, Europe, China and Japan, etc."
- Clinical Decision Support Systems Market by type - Hardware, Software, Services, Applications - Conventional CDSS, Advanced CDSS, by key players , by Regions: North America, Europe, China and Japan, etc.
- Pharmacy Information Systems Market by Product-Type: Web based, On-premises, Cloud based, Application: Physician offices, Hospital & pharmacy, Paramedic services, by key players , by Regions: North America, Europe, China and Japan, etc.
- The global healthcare analytics market size to grow from USD 11.461 Billion in 2019 to USD 40.781 Billion by 2025, at a compound annual growth rate (CAGR) of 23.55% during the forecast period
- The global digital therapeutics market size was valued at USD 2.88 Billion in 2019, and is expected to reach USD 13.80 Billion by 2027 with a CAGR of 20.5% during the forecast period.
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