Global E-Health Market to Grow with a CAGR of 12.80% through 2028
Rising demand for digital
healthcare products and services and surging prevalence of various
non-communicable diseases is expected to drive the Global E-Health Market
growth in the forecast period, 2024-2028.
According to TechSci Research
report, “Global E-Health Market - Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the Global E-Health Market stood at USD
85.47 billion in 2022 and is anticipated to grow with a CAGR of 12.80% in the
forecast period, 2024-2028 and will reach 177.34 billion in 2028. The growth of
the global eHealth market is primarily driven by the increase in government
initiatives supporting the adoption of e-health solutions and services, the
need to effectively manage regulatory compliance using e-health solutions, and
the shortage of healthcare professionals. However, there is a reluctance among
medical professionals to embrace advanced e-health solutions, and the high cost
of deploying and maintaining e-health solutions hinders market growth. On the
other hand, there are opportunities for growth in emerging nations, along with
the expansion of mHealth, telehealth, and remote patient monitoring markets.
Additionally, the utilization of e-health solutions in outpatient care
facilities is expected to offer promising growth prospects for the market.
There is a notable trend
among healthcare providers towards adopting eHealth solutions, driven by the
proven efficiency of this technology. This positive market growth is attributed
to the integration of healthcare data with portable devices, enabling real-time
access for physicians and reducing errors. The demand for eHealth is further
amplified by the rising prevalence of lifestyle disorders such as diabetes and
hypertension, necessitating continuous monitoring of physiological parameters
like blood sugar and glucose levels. However, concerns regarding data privacy
and security pose inhibiting factors to the market growth of these services.
Healthcare providers are increasingly embracing eHealth solutions and services,
including electronic medical coverage (EMC), electronic health records (EHRs),
electronic medical records (EMRs), picture archiving and communication systems
(PACS), and telemedicine. This adoption is primarily driven by improvements in
the management of medical care delivery and public health systems. Governments
are also initiating campaigns to promote the use of eHealth services and
solutions. The application of information and communication technology (ICT)
empowers citizens through information dissemination and facilitates better
accessibility to public healthcare services. The global eHealth market is
experiencing growth due to the prevalence of lifestyle-associated disorders
such as diabetes and hypertension, as well as the sedentary lifestyle of
individuals. Additionally, the impact of COVID-19 in recent years is expected
to further drive the market growth for eHealth solutions. Furthermore,
increased awareness among individuals and growing acceptance among healthcare
professionals will serve as catalysts for market expansion.
In recent years, there have
been significant advancements in the healthcare IT sector, leading to the
transformation of various eHealth services and solutions into profitable
alternatives to manual procedures for managing complex tasks. Changes in regulatory
requirements within the healthcare industry are driving a standard shift in the
EHealth market. As eHealth tools are an effective way to achieve quality goals
while reducing costs, their demand is expected to increase among various
stakeholders in the coming years. Furthermore, healthcare IT systems offer
numerous benefits and capabilities for managing compliance risks and meeting
stringent regulatory requirements. The growing preference for an outpatient
care model is anticipated to drive the adoption of eHealth solutions, as they
provide a convenient way to deliver specialized outpatient services. These
solutions help physicians address patient access needs and enable remote
monitoring of patient health. Additionally, they facilitate integration and appointment
scheduling among healthcare providers, resulting in a comprehensive approach to
healthcare delivery. Given these advantages, several federal bodies are
actively promoting the deployment of eHealth solutions in outpatient care
settings. Moreover, in response to increasing cost pressures on healthcare
systems, many healthcare organizations are focusing on introducing specialized
outpatient services. Furthermore, due to the benefits of web-based management
for continuous care, a majority of individuals are now shifting towards
outpatient care. Despite the potential benefits, many healthcare providers,
especially in developing countries, are hesitant to adopt eHealth solutions due
to limited IT knowledge. Some medical professionals lack the necessary technology
skills to operate advanced healthcare IT solutions and perceive the creation,
utilization, and maintenance of electronic systems as time-consuming tasks.
While eHealth solutions and services aid in the active management of clinical
and non-clinical tasks in healthcare organizations, their successful
implementation largely relies on the willingness of end users, such as
healthcare professionals, to transition from outdated paper-based patient
records to electronic solutions. Consequently, there is reluctance among
healthcare professionals to adopt new and innovative healthcare IT solutions.
Browse over 26 market
data Figures spread through 91 Pages and an in-depth TOC on "Global
E-Health Market”
The Global E-Health Market is
segmented into type, services, end user, regional distribution, and company.
Based
on type, Electronic Health Record (EHR) dominated the market. eHealth offers
cost-effective healthcare delivery in both high and low-income countries,
prompting the World Health Organization (WHO) to promote its adoption and
encourage member states to develop strategic plans for digital health services
deployment across various healthcare domains. This initiative acts as a
significant driver for industry growth. The EHR segment is expected to
experience positive growth in the coming years, driven by the increasing
adoption of electronic health records by developed and developing nations. EHR
enhances healthcare quality and provides convenience for healthcare providers
through quick access to patient records, improved decision support, clinical
alerts, and real-time quality reporting. These advantages have contributed to
the widespread adoption of electronic health records on a global scale.
Based
on region, North America segment is expected to grow during the forecast
period. The global e-Health market is
projected to be segmented into North America, Europe, Asia Pacific, South
America, and Middle East & Africa. North America is anticipated to lead the
global e-Health market due to the increasing demand for e-Health, growing need
for population health management, and the imperative to reduce healthcare
expenses in this region. Europe is expected to hold the second-largest market
share, driven by the escalating government funding for advanced healthcare
facilities. Asia Pacific is poised to experience the highest compound annual
growth rate (CAGR) during the forecast period, attributed to the awareness of
advanced technologies among the population and the high demand for e-health,
along with an increasing number of launches in this domain. Conversely, South
America and the Middle East and Africa are anticipated to demonstrate lucrative
growth in the e-health market in the forthcoming years.
Major companies
operating in Global E-Health Market are:
- Cerner
Corporation
- IBM
Corporation
- GE
Healthcare
- Medtronic,
Plc
- Cisco
Systems Inc.
- Siemens
Healthineers AG
- McKesson
Corporation
- Optum
Inc.
- Atenahealth,
Inc.
- Koninklijke
Philips N.V.
- Allscripts
Healthcare Solutions, Inc.
- CompuMed,
Inc.
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“The increasingly intricate landscape of clinical trials
compels the healthcare industry to embrace digital eHealth solutions,
facilitating streamlined processes for doctors, patients, and internal staff.
The convenience of seamless communication, even across different locations,
stands as a significant advantage provided by eHealth solutions in healthcare.
As the complexity of clinical trials escalates, the collaboration platform's
significance grows. By enabling centralized information sharing and establishing
a consistent, user-friendly process for exchanging information and accessing
documents, sponsors and sites have the potential to enhance operational
efficiency and drastically reduce administrative burden in trials. eHealth
solutions play a vital role in simplifying these tasks by enabling real-time
data and expediting communication. In the healthcare sector, the timely
exchange of information and availability of real-time data hold utmost
importance, particularly in emergency cases. eHealth solutions facilitate rapid
document distribution, further enhancing their utility which makes the use of
E-health a prominent choice among all end users.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Global
E-Health Market By Type (Electronic Health Record
(EHR), Vendor Neutral Archive (VNA), Telehealth, Prescribing Solutions, Medical
Apps, and Others), By Services (Remote Monitoring, Diagnoses &
Consultation, Healthcare System Strengthening, Treatment, Database Management),
By End User (Healthcare Providers, Payers, Healthcare Consumers, and Others),
By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future
growth potential of Global E-Health Market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global E-Health Market.
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