According to Vision Research Reports, the eHealth market size is expected to hit around US$ 690 billion by 2030 and is anticipated to grow at a CAGR of 16.2% from 2021 to 2030.
According to Vision Research Reports, the eHealth market size is expected to hit around US$ 690 billion by 2030 and is anticipated to grow at a CAGR of 16.2% from 2021 to 2030.
The expansion of the eHealth market can be attributed to the increase in adoption of real time health systems (RTHS) and rising need for seamless communication in healthcare.
In terms of component, the solutions segment is anticipated to account for a notable share of the eHealth market
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Based on solutions segment, electronic health records (EHR) is set to dominate the market during the forecast period. Additionally, telehealth is likely to remain the fastest growing solution during the forecast period.
IoT in Healthcare: An Opportunity
The adoption of IoT (Internet of Things) is resulting in the convergence of technology, hospitals, and hospital staff. IoT-enabled solutions collect information by integrating with IoT sensors, and wearable and connected patient monitoring devices. This data collection is carried out using applications such as electronic health records (EHRs). Physicians and clinical professionals can focus on leveraging the collected data to deliver the most appropriate clinical protocols for their patients with the digitalization of healthcare services.
In this role, eHealth solutions are likely to play a crucial role in converting the data collected via IoT-enabled devices into actionable information and insights for both patients and clinicians. This opportunity is set to help hospitals deliver the most patient-centric services, and maintain collaboration among the hospital staff to avoid cases of clinical crisis.
Key Drivers
- Increase in Adoption of Real Time Health Systems (RTHS): An increasingly complex clinical trial landscape drives the healthcare industry to support digital eHealth solutions in order to make the process easier for doctors, patients, as well as the internal working staff. Convenience in communication in order to organize different tasks when people are not present in the same location is the major advantage of eHealth solutions used in healthcare.
- Significance of the collaboration platform increases as complexity of clinical trials rises considerably. Centralized information sharing and establishing a consistent, easy process for information exchange and document access, sponsors, and sites have the potential to increase operational efficiency and radically reduce administrative liability in trials.
- According to a research study of 550 senior IT leaders conducted in 2017 by Simplicity (part of the Axway Group), 100% of the respondents believe that content collaboration is important.
- eHealth solutions make all these tasks easier as real time data and faster communication can be achieved. In the healthcare sector, information exchange and availability of data in real time is very crucial, especially in emergency cases. Rapid distribution of documents is possible by using eHealth solutions. Thus, increase in use of RTHS drives the eHealth market.
- Rising Need for Seamless Communication in Healthcare: Rising incidences of heart attacks, blood sugar level fluctuations, and accidents are leading to mismanagement in hospitals, as staff members and physicians are not able to communicate perfectly during an emergency.
- According to a study, approximately 70% of accidental deaths and serious injuries in hospitals are caused due to communication failure among staff members and physicians
- Seamless communication between hospital staff members, physicians, nurses, and others is, thus, a very crucial parameter to save the lives of people and deliver the correct treatment at the right time to patients. This rising need for communication enhancement is expected to drive the demand for eHealth solutions across the globe.
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Regional Outlook
In terms of region, the global eHealth market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominates the global eHealth market and accounted for 38.5% share at the end of 2020. It is estimated to maintain its dominance during the forecast period. Additionally, the eHealth market in North America is estimated to expand at a growth rate of 16.5% during the forecast period.
The eHealth market in Asia Pacific is projected to expand at the fastest CAGR of 19.4% during the forecast period, owing to technological advancements in healthcare services, specifically in China and Japan. The eHealth market in Europe and South America is anticipated to expand moderately during the forecast period.
The report provides in-depth segment analysis of the global eHealth market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which offer considerable opportunities or account for significant share has also been included as part of geographic analysis of the eHealth market.
Key Players
The research study includes profiles of leading companies operating in the global eHealth market. Key players profiled in the report include Allscript Healthcare Solution, Inc., Cerner Corporation, Cisco Systems, Inc., Epic Systems Corporation, GE Healthcare Ltd, and Koninklijke Philips N.V.
Global eHealth Market: Segmentation
eHealth Market, by Component
- Solutions
- Electronic Health Records (EHR)
- Laboratory Management Systems (LMS)
- Telehealth
- Medical Image Analysis Systems
- Clinical Decision Support Systems
- Pharmacy Information Systems
- Others (PACS & VNA, etc.)
- Services
- Consultation & Diagnosis
- Health Monitoring
eHealth Market, by End User
- Healthcare Payers/ Consumers
- Hospitals/ Clinics
- Pharmaceuticals
- Others (Home Healthcare Centers, Ambulatory Care Centers, etc.)
eHealth Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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