The global eHealth Market size was valued at $ 204.5 billion in 2021 and is projected to reach $ 873 billion by 2030, growing at a CAGR of 17.5 % from 2022 to 2030.
e-health platform offers medical informatics associated with health services and information delivered through the Internet and connected technologies. eHealth applications are software and services that transmit, manage, record, or store information used in the delivery of healthcare treatment, record keeping, and payment.
Advancing government industries for the use of eHealth programs and solutions is expanding market growth. For instance, The U.S. government has introduced MyHealthEData Initiative to Put Patients at the Center of the US Healthcare System. MyHealthEData empowers patients by delivering them control of their healthcare data and allowing them to follow through with their healthcare expedition. The MyHealthEData initiative also helps to share their data, making the patient the center of the healthcare system. Further, India and the Netherlands government have presented plans for the e-health sector, to deliver digital health facilities and security to the Indians. The program desires to improve care quality and deliver better access to healthcare, using analytics and aggregated and anonymized data mining. Additionally, the shortage of healthcare professionals is a key driving factor in the market. The use of health IT could help address regional shortages of healthcare specialists by potentially enabling 12% of care to be provided remotely or asynchronously. The estimated impacts could more than double if comprehensive health IT systems were adopted by ambulatory care delivery settings. Regardless, the risk of data security might hamper the market growth. eHealth enables us to deliver medical through the Internet and affiliated technologies. Cybercriminals can hack into e-health solutions and compromise the Personal Health Information (PHI) of both patients as well as doctors and can misuse data to create fake IDs to buy drugs and medical equipment, which they can sell later. Moreover, the growth of IoT in healthcare would provide lucrative opportunities for the market in the forthcoming years.
The global eHealth market is primarily categorized based on type and end-user. Type is further segmented into Telemedicine, Consumer Health Information, mHealth, Health Management, EHR, ePrescribing, Clinical Decision Support, and Others. By end-user, the market is divided into Hospitals, Insurance Companies, and Others.
Based on type, Electronic Health Record (EHR) was overlooking the eHealth market in 2020 attributed to the growing adoption rate of EHR by developed and developing nations, the collaboration between companies to present Electronic Health Record (EHR) solutions, and the launch of new Electronic Health Record (EHR) platform. EHR delivers convenience for healthcare providers by offering quick access to patient records, provides clinical alerts, improved decision support, and real-time quality reporting. For instance, MEDITECH has introduced the MEDITECH Cloud Platform, solutions that permit healthcare organizations to further extend the possibilities of the Expanse Electronic Health Record (EHR). MEDITECH Cloud Platform delivers Expanse NOW, High Availability Snap Shot, and Virtual Care solutions, all created to work naturally in the cloud and are available through a subscription model.
Based on geography, the global eHealth market is divided into North America, South America, Europe, Asia-Pacific, and Middle East & Africa. North America is further divided into the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, Italy, France, and the Rest of Europe. Asia-Pacific is segmented into China, India, Japan, South Korea, and the Rest of Asia-Pacific. The South America region includes Argentina, Brazil, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and the Rest of the Middle East & Africa.
North America was dominating the global eHealth market in 2021 due to the high penetration of internet platforms, increasing use of connected devices & mHealth apps for the management of chronic diseases, development of innovative eHealth technologies, and agreement between companies to originate electronic health record (EHR) jointly. For illustration, Northwell Health, New York State’s largest health system, and Allscripts have signed an innovative agreement to create the next-generation electronic health record (EHR). The cloud-based, voice-enabled, artificial intelligence-based EHR will be designed and tested by Northwell clinicians, information technology experts, and administrators to ultimately deploy it systemwide.
Key players working in the eHealth industry include GE Healthcare, Cerner, Philips Healthcare, Athenahealth, IBM, Allscripts, Medtronic, Boston Scientific Corporation, Epic Systems Corporation, and eClinicalWorks.
Growing commercialization of the eHealth platform, the partnership between companies to jointly develop eHealth solutions, the rising launch of cloud-based eHealth platform, advancing investment by the companies for the development of mHealth solutions, and the joint venture between companies for investing and developing in eHealth platform are some of the strategies adopted by the prominent companies. For instance, Sanofi, Capgemini, Generali, and Orange are planning to create a joint venture in France to fast-track the development of a digital ecosystem committed to e-health for the benefit of patients. The founding partners are planning an initial investment of 24 million euros in the new entity.
eHealth Market Key Segments:
- Consumer Health Information
- Health Management
- Clinical Decision Support
- Insurance Companies
Key Global eHealth Industry Players
- GE Healthcare
- Philips Healthcare
- Epic Systems Corporation
- Boston Scientific Corporation
- Telehealth Market – The global Telehealth Market size was valued at USD 61.65 billion in 2021 and is projected to reach USD 770.77 billion by 2030, growing at a CAGR of 32.4 % during the forecast period.
- Healthcare Insurance Market – The global healthcare insurance market size was estimated at 2.68 trillion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.1% from 2022 to 2028.