(I-BusinessNews.Com, September 05, 2020 ) Growing medical tourism, growing consumerism in the healthcare industry, accelerated economic growth of countries in the region, the implementation of new ICT guidelines, and the implementation of eHealth programs are the factors propelling the growth of the market in this region.
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• How top 50 companies in eHealth Market are making rapid shifts in their strategies as we speak here…
• Outside-in view of top 50 companies client and client’s clients shifting short-term priorities
According to the new market research report eHealth Market is expected to reach $132.35 Billion by 2023 from $47.60 Billion in 2018, at a CAGR of 22.7%.
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Cerner (US) held the leading position in the eHealth market with the largest market share in 2017. The company has a robust eHealth product portfolio, including EMR/EHR solutions, PACs, hospital information systems, and others. With its wide presence, Cerner remains the largest provider of a comprehensive range of EHR solutions to hospitals and ambulatory care centers. It is actively involved in advancing its business by augmenting its presence in the eHealth market.
Allscripts (US) is another leading provider of eHealth solutions and services. The company significantly focuses on enhancing its existing portfolio and broadly invests in R&D activities to develop innovative products and attain a competitive advantage in the market. In particular, the company invested USD 187.0 million in R&D in 2016, an increase of 2% from 2015. Its operation mainly depends on the North American market. In 2016, the company earned 97% of its revenue from their domestic market.
Philips Healthcare (Netherlands) is one of the leading companies in the eHealth market. The company has robust offerings for the eHealth solutions market including health information exchange solutions, mHealth solutions, VNAs and PACS, and telehealth solutions.
• By type of eHealth solutions, the chronic care management apps are expected to register the highest CAGR during the forecast period. This can be attributed to the growing incidence of chronic diseases, high penetration of mobiles, and increasing adoption of mHealth solutions owing to various benefits such as ease of use and reduced costs offered by these solutions across the globe.
• Based on product and service, the eHealth market is segmented into eHealth solutions and eHealth services. The eHealth services segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to factors such as the rising demand for availing medical consultation online, rapidly emerging new technologies in healthcare, the demand for home healthcare services, and the use of telecommunication and multimedia technologies combined within mobile and wireless healthcare delivery systems.
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The Asia Pacific region is expected to grow at the highest CAGR during the forecast period. High growth in the Asia Pacific region is largely driven by government investments & reforms to modernize healthcare systems, rising medical tourism, implementation of eHealth programs, and increasing per capita income in this region.
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