(I-BusinessNews.Com, June 17, 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, mHealth apps and telemedicine services help in monitoring various health parameters at home, eliminating the need for hospital visits
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.
Geographically, the North American 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.
Opportunity:
In response to the rising pressures on health systems to lower the cost of care, a majority of healthcare organizations are focusing on introducing specialized outpatient services. The shift toward the outpatient care model is boosting the adoption of eHealth solutions, as these solutions provide a convenient way of care delivery.
These solutions provide easier access to appointments and integration among care providers for holistic response toward care delivery. In addition, these solutions help physicians in addressing patient needs (for access) and allow the remote monitoring of the patient’s health. Owing to the benefits of eHealth solutions, various federal bodies are also supporting the deployment of eHealth solutions in outpatient care settings. For instance, the Government of New South Wales (NSW), through its Community Health and Outpatient Care program is still operational as a part of eHealth Strategy for NSW Health: 2016–2026, which focuses on implementing EMR solutions in outpatient care facilities operating throughout NSW. This has boosted the adoption of eHealth solutions among stakeholders in outpatient care facilities to deliver better health services and help enhance patient outcomes.
Furthermore, with the benefits of web-based management for constant care, a large number of patients are now moving toward outpatient care needs. For instance, as per a press release by Crain Communications in November 2015, outpatient volume at Flint-based McLaren Health Care Corporation increased to 57% in 2015 from 43% in 2014; this figure is projected to grow to 60% by 2020.
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The players in the eHealth market include Allscripts (US), athenahealth (US), Epic Systems (US), IBM (US), GE Healthcare (US), Cerner (US), Optum (US), Philips Healthcare (Netherlands), Siemens Healthineers (Germany), McKesson (US), Medtronic (Ireland), and Cisco Systems (US)
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