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(Health-NewsWire.Net, October 28, 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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Factors such as the increased adoption of eHealth solutions, rising elderly population base, and the growing number of infectious diseases are expected to drive the growth of the eHealth market.
Based on eHealth solutions, the eHealth solutions market has been segmented into 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, Other Specialty Information Systems. Within eHealth solutions market, EMR/EHR accounted for the largest share in 2020. The large share of this segment can be attributed to the superior quality of software enabling efficient clinical workflow and thus, having high preference amongst the healthcare professionals.
Based on end user, the eHealth market has been segmented into Healthcare Providers, Healthcare Payers, Healthcare consumers, Pharmacies, and Others. The healthcare consumer segment is estimated to have enormous growth due to rising dependence on telehealth solutions and remote patient monitoring services. Recently developed telehealth solutions are exceptionally superior and speed up patient recovery. Thus, above mentioned factors are expected to drive the segmental growth.
Players in the global eHealth industry include Cerner (US), McKesson (US), Philips Healthcare (Netherlands), GE Healthcare (US), and Allscripts (US). Other leading players in this market include athenahealth (US), Epic Systems (US), IBM (US), Optum (US), Siemens Healthineers (Germany), Medtronic (Ireland), and Cisco Systems (US).. These players are focusing on increasing their presence in high-growth markets through both organic as well as inorganic growth strategies, including service launches, expansions, collaborations, and partnerships.
GE Healthcare (US) held significant poistion in the global eHealth market in 2019. GE Healthcare is a leading provider of eHealth solutions. It has a strong and robust product and service portfolio of EHR and EMR solutions and services; PACS and VNA solutions; and health information exchange solutions. The company concentrates on R&D activities. It focuses on developing new and improved products and services. GE Healthcare has launched 25 new products, services, and digital solutions in the market. Such initiatives undertaken by the company provide it a competitive edge over other players operating in the eHealth market and help it maintain its foothold in the market.
Cerner (US) also accounted for considerable market share in eHealth market in 2019. Cerner has a robust eHealth solutions portfolio tailored for medium- and large-sized healthcare enterprises to help them with advanced software and services, designed specifically to cater to their requirements. The key strength of the company is its wide geographic presence and extensive distribution network across leading markets. Cerner has a strong global presence. Approximately 88.0% of its revenue is generated from North America. However, the company is focusing on expanding its operations in non-US markets, along with entering new markets through business expansions and the adoption of inorganic growth strategies.
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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.
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