(I-BusinessNews.Com, August 04, 2021 ) According to the new market research report eHealth Market is projected to reach USD 193.8 billion by 2025 from USD 69.5 billion in 2020, at a CAGR of 22.8% during the forecast period.
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The shift toward patient-centric care coupled with the rising digitization of products and services enables remote recording and remote sharing of medical records. Moreover, solutions such as mHealth apps and telemedicine services help in monitoring various health parameters at home, eliminating the need for hospital visits. Owing to the several benefits of patient-centric solutions, their utilization for remote monitoring, consultation, diagnosis, treatment, and prevention is expected to increase in the coming years.
Based on end user, the eHealth market has been segmented into healthcare providers, healthcare payers, healthcare consumers, pharmacies and other end-users of these, healthcare providers segment accounted for the largest share of the eHealth solutions market in 2019. Healthcare providers include hospitals, ASCs and home healthcare agencies. High segmental market share can is attributable to the increasing hospital and out-patient admissions. These healthcare institutes are well-equipped with all the necessary eHealth software and solutions. Moreover, these healthcare institutes have skilled professionals to operate this software. This facilitates the clinical workflow in hospitals, ASCs and other healthcare institutes thereby, gearing up the recovery process. Above mentioned factors stimulate the market growth.
Based on eHealth solutions, EHR/EMR Solutions, Medical Apps, Picture Archiving and Communication, Systems & Vendor Neutral Archive, Chronic Care Management Apps, PHR & Patient Portals, Health Information Exchange Solutions, Telehealth Solutions, Pharmacy Information Systems, Laboratory Information Systems, Clinical Decision Support Systems, E-Prescribing Solutions, Radiology Information Systems, Cardiovascular Information Systems and Other Specialty Information Systems The market for EHR/EMR segment is expected to grow significantly in the forthcoming years. Segment growth is attributable to the rising cases of Covid-19 that has compelled the companies operational in the eHealth market to develop highly efficient EHR software that improves the operations in hospitals and other healthcare institutes.
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Geographically, the North American eHealth Market accounted for the largest share of the eHealth solutions market in 2019 due to the presence of a well-established base of eHealth companies, high investments in the several healthcare IT, and increasing R&D expenditure. The Asia Pacific market is expected to register the highest growth during the forecast period due to increasing healthcare expenditures and improving regulatory scenario. Improving regulatory scenario has lowered the entry barriers in Asian countries that has increased the number of companies in such developing countries thereby, proving beneficial for the industry growth.
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