London, April 19, 2022 (GLOBE NEWSWIRE) -- The global eHealth market was accounted at US$ 84.24 billion in 2021. The demand for the ehealth is rapidly growing across the globe owing to the surging adoption of the digital technologies across the healthcare industry. The rising investments in the development of telecommunications and the IT infrastructure has favored the growth of the digital technologies like AI, Wi-Fi, internet, and cloud computing. The increased government initiatives to digitalize the operations of the hospitals have attracted the investments in the adoption of the digital technologies across the healthcare units.
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Moreover, the surging prevalence of various chronic diseases among the global population and the rapidly growing geriatric population is fueling the growth of the market. The ehealth platforms enables the consumers to easily and conveniently have access to the 24/7 physician consultations and other associated services. The formulation of favorable reimbursement policies in several countries pertaining to the ehealth services is further fueling the market growth.
| Report Attributes | Details |
| Market Size in 2021 | USD 84.24 Billion |
| CAGR | 20.6% from 2022 to 2030 |
| Revenue Forecast by 2028 | USD 310.45 Billion |
| Base Year | 2021 |
| Forecast Data | 2022 to 2030 |
| Companies Covered | Allscripts Healthcare Solutions, Inc., Koninklijke Philips N.V., Siemens Healthineers, International Business Machines Corporation, General Electric Company, InTouch Health, Athenahealth, Inc., Cisco Systems, Inc., UnitedHealth Group, Medtronic plc. |
Report Highlights
- Based on the product, the EHR segment dominated the market in 2021. The increasing government initiatives to promote the adoption of EHR have fueled the growth of this segment. For instance, My Health Record is a digital health record platform for the Australian citizens. Further, it helps to enhance the patient care and improve the operational efficiency of the healthcare units.
- Based on the services, the monitoring segment dominated the market in 2021. The rapidly growing geriatric population is driving the demand for the self-monitoring devices as the elderly population requires frequent monitoring. The elderly population is more susceptible to various diseases.
- Based on the end use, the healthcare providers dominated the market in 2021. This is attributed to the increased corporate and government investments towards the digitization of the healthcare units across the globe. The adoption of ehealth will enhance the operational efficiency of the hospitals.
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Regional Snapshot
North America dominated the global ehealth market in 2020. This is attributed to the higher adoption of the digital and advanced technologies in the healthcare sector. Moreover, the presence of huge number of patients owing to high geriatric population and increased prevalence of non-communicable diseases has augmented the demand for the ehealth among the healthcare providers and the consumers. It is estimated that around 60% of the US population is suffering from one or more chronic condition. Furthermore, the geriatric population in US is expected to reach 95 million by 2050. The improved consumer awareness, high healthcare expenditure, and improved access to the digital technologies has fostered the growth of the North America ehealth market.
Asia Pacific is estimated to be the most opportunistic market during the forecast period. The rising adoption of the smartphones, improved access to the internet, rising awareness regarding the benefits of ehealth, and the rising government initiatives to boost the adoption of ehealth in the hospitals. Furthermore, the rising burden of diseases and surging old age population in the region is expected to positively impact the market growth during the forecast period.
Market Dynamics
Driver: Surging adoption of internet and smartphones
The globe is witnessing a rapid growth in the number of smartphone and the internet users.According to the GSMA State of Mobile Internet Connectivity Report 2020, approximately 50% of the global population had access to the mobile internet connectivity by the end of 2019. As per the ITU, majority of the inter users have access to the internet through their smartphones. Therefore, the rising adoption of the smartphones and improved access to the internet are the prominent drivers of the global eHealth market.
Restraint: Lack of awareness regarding eHealth
There is a lack of awareness regarding the eHealth platforms especially in the rural areas of the underdeveloped and developing economies. Further, the poor access to the basic healthcare facilities is further depriving the rural population from accessing the digital eHealth technologies. Moreover, the low investmentsin digital infrastructure are the major factors that may hinder the market growth.
Opportunity: Introduction of the latest technologies
The increasing adoption of latest technologies like 5G, AI, cloud computing, data analytics, and VR are expected to augment the market growth. The adoption of these latest digital technologies is expected to improve analysis of data, increase cost efficiency, and enhance digital security to the ehealth platforms, thereby boosting the growth of the market.
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Challenge: Data privacy and cybersecurity
The data privacy and the cybersecurity are the most crucial factors that presents a huge challenge for the market players. The cyberattacks are becoming more frequent with the growing adoption of technology. Cyberattack may result in huge financial losses and hence may impact the market growth significantly.
Segments Covered in the Report
By Product
- ePrescribing
- EHR
- Telemedicine
- mHealth
- Health Management
- Clinical Decision Support
- Information System
- Radiology Information Systems
- Laboratory Information Systems
- Cardiovascular Information Systems
- Telehealth
- Health Information Exchange Solutions
- Chronic Care Management Apps
- Medical Apps
By Service
- Diagnostic
- Monitoring
- Healthcare Strengthening
- Treatment
- Database Management
By End Use
- Healthcare Providers
- Insurers
- Healthcare Consumers
- Government
By Deployment
- On-premise
- Cloud-based
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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