The global e-health market size is projected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the growing digitization of the products and services, increasing healthcare spending, government support & initiatives, and growing demand for patient centric delivery.
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E-health is the using of advanced and innovative technologies for various communication and information in the healthcare sector. It is about providing the healthcare services with the help of various communication technologies and modern electronic information. The patients and healthcare providers does not come in contact with each other and contact with the help of electronic means.
There are various types of services available under e-health such as vital signs monitoring, teleconsultations, telepathology, diagnosis, treatments, and electronic prescribing. E-health offers various benefits that include lower administration burden, time saving, and insight into own health. It also prevents the use of manual data records & allows timely access of the patient data to healthcare sector.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for advanced healthcare facilities is anticipated to spur the market growth in the coming years.
- Rapid growth of the healthcare industry is major factors propelling the market expansion.
- Security concern related to license, privacy, and data breaches acts as major challenge that can hinder the market growth.
- Unwillingness to adopt e-health solutions among healthcare professionals is estimated to impede the market expansion during forecast period.
- R&D investment and technological advancement in e-healthcare market is expected to offer immense opportunities for the market players.
Market Segment Insights:
Electronic health records segment is projected to account for a large market share
Based on components, the global e-health market is divided into e-prescribing, telemedicine, electronic health records, clinical decision support systems, and others. The electronic health records segment is expected to constitute a key share of the market during the forecast period owing to rowing adoption of digital services, rising acquisition rates, and transition of healthcare to cloud.
Monitoring segment is projected to hold a key market share
On the basis of types of services, the market is segmented into Diagnosis Service, Monitoring Service, and Others. The monitoring segment is expected to represent a key share of the market in the coming years due to rising command on the self monitoring devices which help to monitor the important signs and physical activities that develops database. The growing lifestyle disorders, rising prevalence of chronic diseases, and importance of rehabilitation & home healthcare is anticipated to fuel the market.
Hospitals segment is projected to constitute a major market share
In terms of end-users, the global e-health market is segregated into insurance companies, hospitals, and others. The hospitals segment is expected to account for a key share of the market during the forecast period owing to improvement in the healthcare infrastructure in various regions and the growing need for cost reduction in the healthcare sector.
North America is expected to dominate the market
On the basis of regions, the global e-health market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period.
Competitive Landscape
Key players competing in the global e-health market include GE Healthcare; Infor, Inc.; Cerner Corp.; McKesson Corp.; Allscripts Healthcare Solutions, Inc.; CompuMed Inc.; Athenahealth Inc.; and Boston Scientific Corp. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
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