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E-Health Market Size, Share & Trends Forecast-2031
(MENAFN- Straits Research)
Introduction
"E-Health" is the administration of a healthcare organization using ICT (ICT). ICT includes telemedicine, EMRs, and smartphone apps (ICT). Telemedicine can store patient, staff, and financial data electronically. The medical staff initially recorded all data manually. The current system only requires a unique I.D. number. Once that's done, all patient information is instantly accessible. E-health eliminates the need for manual records and provides immediate patient information. Automated and interoperable healthcare information systems are expected to improve medical care, reduce costs, increase efficiency, reduce error, improve patient satisfaction, and optimize reimbursement for ambulatory and inpatient healthcare providers. E-health software and ICT are widely used in healthcare to improve quality, driving the global e-health market . Managing regulatory compliance with e-health solutions and safe data storage drives the market growth. E-health reduces the need for expensive and time-consuming primary research and data collection, impacting the long-term market growth. Reducing redundant exams and the time needed to maintain fragmented I.T. and infrastructure can reduce administrative costs.
Market Dynamics Government Initiatives and Increasing Regulatory Compliance Requirements Drive the Global Market
Electronic medical coverage (EMC), electronic medical records (EMRs), electronic health records (EHRs), picture archiving, communication systems (PACS), and telemedicine are a few examples of the e-health solutions and services that are seeing a significant uptick in adoption among healthcare providers. This can be attributed to the fact that e-health is helping to improve the management of public health systems and the delivery of medical care services. In addition, governments are beginning to implement programs to encourage the utilization of e-health services and solutions. The application of information and communication technology in "reaching services to citizens" and "citizen empowerment through information dissemination" significantly improve public healthcare services. Several e-health initiatives utilizing ICT have been implemented all over the country by the Ministry of Health and Family Welfare (MoHFW) to increase the effectiveness of healthcare delivery, extend healthcare services to rural areas, and provide higher quality care at a lower cost. Additionally, several governments are making sizeable investments to encourage the adoption of e-health, which will improve medical care while simultaneously reducing costs.
Healthcare I.T. has evolved. Various e-health solutions and services have become successful and profitable alternatives to manual methods for managing complex tasks. Electronic health records meet regulatory requirements and manage compliance risks. As healthcare regulations change, the electronic healthcare market undergoes a paradigm shift. Demand for e-health tools is expected to rise in the coming years, accelerating the market's global expansion. E-health tools reduce costs and improve care quality.
Highly Profitable Market in Developing Regions Creates Tremendous OpportunitiesAsia-Pacific and LAMEA have high growth potential due to e-health service advancements and more affordable healthcare options. Asia-Pacific offers e-health expansion opportunities. India, China, and South Korea are the three largest economies growing the fastest, followed by South Korea. Due to economic growth, governments are working to improve medical infrastructure and services. E-health maintains a real-time bridge between all healthcare services, reducing manual errors and healthcare costs. The e-health industry in India is also promising, and demand for solutions is expected to rise. This is likely due to a rise in chronic disorders, improved healthcare infrastructure, government initiatives to adopt e-health solutions and services, and a surge in demand for better healthcare services. The Ministry of Health and Family Welfare (MoHFW) of India supports e-health, which uses information and communication technology to "reach services to citizens" and "empower citizens through information dissemination" to improve public healthcare delivery. Increased investments from central and local government agencies and leading regional players should boost the global e-health market during the forecast period.
Regional Analysis
North America is the highest contributor to the global e-health market, growing at a CAGR of 13.3% during the forecast period. It is anticipated that North America will hold a dominant share of the global e-health market throughout the period covered by this forecast. This is attributable to the region's highly developed healthcare industry, significant R&D investments in e-health solutions, rising rates of product approval, and many e-health companies in the area. Athenahealth has introduced a brand-new telehealth tool integrated with electronic health records (HER). With the help of this tool, practitioners can conduct virtual visits without downloading additional software or using an app developed by a third party. In addition, an increase in healthcare costs contributes to the expansion of the market. The market expansion in North America is primarily fueled by the numerous investments made by e-health service providers and government programs and services in the healthcare industry related to e-health.
Key Highlights
-
The
global e-healthmarket
was valued at USD
97,640.4
million in 2021. It is expected to reach USD
338,147.7
million by 2030, growing at a CAGR of
8% during the forecast period (2022–2030). Based on the
type,
theglobal
e-health
market has been categorized into electronic health records (HER), vendor-neutral archive (VNA), picture archiving, & communications systems (PACS), laboratory information systems (LIS), Telehealth, prescribing solutions, medical apps, clinical decision support systems (CDSS), and pharmacy information systems. The medical apps segment is the highest contributor to the market, growing at a CAGR of 21.3% during the forecast period. Based on the
end-user,
theglobal
e-health
market has been categorized into healthcare providers, payers, and healthcare consumers. The healthcare providers segment was the highest contributor to the market, growing at a CAGR of 15.3% during the forecast period. North America is the highest contributor to the global e-healthmarket, growing at a CAGR of 13.3% during the forecast period.
Recent Developments
-
In January 2023, Veradigm Inc. is the new corporate name announced by Allscripts.
In January 2023, Data from the Veradigm Network EHR is Now Available in the Observational Medical Outcomes Partnership (OMOP) Common Data Model (CDM) Format.
In January 2023, Fox Valley Orthopedics chose athenahealth to enhance patient care and prepare for future expansion.
In January 2023, Cisco improved the hybrid work environment with innovations in audio and interoperability.
By Type eHealth Solutions EHR/EMR Solutions Picture Archiving and Communication Systems & Vendor Neutral Archive Radiology Information Systems Laboratory Information Systems Cardiovascular Information Systems Pharmacy Information Systems Other Specialty Information Systems Telehealth Solutions E-Prescribing Solutions PHR & Patient Portals Clinical Decision Support Systems Health Information Exchange Solutions Chronic Care Management Apps Medical Apps eHealth Services Remote Monitoring Services Diagnosis & Consultation Services Healthcare Systems Strengthening Services Treatment Services Database Management Services By Deployment On-premise Cloud-based By End-User Healthcare Providers Ambulatory Care Centers Home Healthcare Agencies, Nursing Homes, and Assisted Living Centers Hospitals Payers Healthcare Consumers Pharmacies Other End Users
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