eHealth Market

Global eHealth Market Size (2023 to 2028)

As per our report, the global eHealth market was valued at USD 16.95 Billion in 2023 and is predicted to grow to USD 27.06 billion by 2028. This market is forecasted to grow at a CAGR of 14.80% during the forecast period.

eHealth refers to the developing branch of healthcare that deals with administrative staff and data management. Healthcare settings can find it extremely difficult to manage the bulk of data that they receive continuously every day, like patient-related data, hospital equipment data, staff timings and shifts, Schedules for patient visits and surgeries and others. Such large amounts of information can be inaccurately lodged when managed through manual means. eHealth refers to the electronic assistance medium for healthcare settings such as electronic health records (EHR) to keep patients' records and various electronic software supported by the internet to assist the employees of healthcare settings, resulting in fewer errors and more accuracy. In addition, eHealth assistance makes managing insurance and reimbursement policies easier and supports remote patient care settings and online consultations. Therefore, eHealth supports both patients and staff with a pleasant hospital experience.

MARKET DRIVERS:

Growing support, initiatives, and promotions of various governments to go for eHealth solutions, rising healthcare spending, and increasing demand for patient-centric healthcare delivery are propelling the eHealth market worldwide. The rising awareness among hospitals and clinics regarding the benefits of eHealth solutions and services is another significant growth driver. In addition, increasing chronic diseases and technological advancements further push the global eHealth market growth. Rising usage of loT and big data are also favoring market growth. eHealth uses big data and IoT for the better storage and retrieval of healthcare data, transmission, and the development of analysis systems. These health uses help to understand biological processes and drugs, which contributes to higher success rates in drug designs. Many pharma companies are using big data to get results in a short period. Health insurers are also benefiting from using these big data analytics in health. They collect patient data and design insurance in an adapted way. All these factors drive the market during the forecast period.

The growing healthcare IT innovation and supporting regulations have facilitated the adoption of various healthcare technologies such as electronic healthcare records (EHR), remote patient monitoring, and wearable. Everything will be registered with the internet's help from the step of patient entry to discharge, which is estimated to surge the growth of the eHealth market. Increasing focus on infrastructure development and key players making notable efforts to offer convenience for healthcare providers are predicted to generate promising growth opportunities for the market in the coming years.

Furthermore, factors such as advanced technologies available for the patient quickly boost the eHealth market growth. In addition, the standard increase of chronic diseases and the steps taken by the Government in supporting the usage of eHealth services is also adding a boost to the market to set new growth heights.

MARKET RESTRAINTS:

The deficiency of supporting infrastructure in emerging countries with expensive health IT tools is anticipated to hamper the growth of the eHealth market. Ensuring information security and protection was the biggest challenge that was highlighted. Healthcare professionals and a patient-centric imperative are in the middle of all digital innovation. Problems in the eHealth sector are limited availability of medical professionals, low medical insurance, and affordability of healthcare services, further inhibiting the eHealth market. Infrastructure gaps remain too substantial, and compliance concerns, regulatory issues, cultural and social biases, financial issues, and lack of quality mentorship are other factors obstructing market growth.

Impact of COVID-19 on the global eHealth market:

The COVID-19 pandemic led to severe revenue losses for major industries, resulting in a downfall of the world economy. The healthcare sector was one of the most severely hit sectors, as the scarcity of essential hospital resources meant the denial of treatments for the rapidly growing COVID-19 population. All the other branches of hospitals were shut down, and non-urgent surgeries were postponed, shifting complete attention toward the COVID-19 patients. However, the pandemic positively impacted the global E-Health market due to the rapid shift of healthcare facilities towards an internet-based online setting and remote care. E-health assisted in the major shift of healthcare services toward IT services, leading to more market requirements. The rapid advancement in technology in providing home healthcare and the population's growing interest in online healthcare through applications and devices further promoted the market's growth.

REPORT COVERAGE:

This research report on the global eHealth market has been segmented based on the Type, services, end-user, and region.

eHealth Market - By Type:

• Telemedicine
• Consumer
• Information System
• EHR
• ePrescribing
• Health Information
• mHealth
• Health Management
• Clinical Decision Support

Based on type, the electronic health records (EHR) segment is expected to dominate the market during the forecast period due to the system's several advantages. EHRs help provide accurate, fast, and reliable data on a patient's prior health record for proper assessment and future treatment options by the healthcare provider. In addition, EHRs improve efficiency by eradicating any significant errors caused by manual data management. Therefore, as healthcare settings shift toward IT solutions facilities, EHR is becoming increasingly prevalent.

The mHealth or mobile health segment is also expected to grow significantly during the forecast period due to the advent of new software and applications for monitoring health at home. In addition, the growing trend for home healthcare and remote healthcare services supports the advancement of the segment. Furthermore, the growing availability of various fitness-related apps and medical services-related apps like online consultations and medicine delivery at home on smartphones support the growth of the segment. Mhealth applications help patients track their daily progress and health condition, allowing complete continuous monitoring and checkups, which can be extremely useful, especially for patients with chronic conditions.

eHealth Market - By Services:

• Administrative
• Diagnostic
• Monitoring
• Financial

Based on the services, the monitoring segment held the highest share in the market due to the increasing command over self-monitoring devices that monitor different kinds of physical activities and vital signs that produce a database. The growth of this monitoring segment is further attributed to factors like the standard increase of chronic diseases, increasing lifestyle disorders, growing older people population, and high importance of home healthcare and rehabilitation.

The diagnostics segment has the following market share due to the increased patient diagnoses and the introduction of advanced diagnostics procedures. In addition, digitalizing medicine and related data will improve medical diagnosis. This eHealth will help collect all the data regarding patients undergoing diagnosis and advanced treatment for effective patient care.

eHealth Market Analysis - By End User:

• Healthcare Consumers
• Providers
• Government
• Insurers

Based on the end-user, healthcare consumers are the leading segment of the e-health market. The growth of this segment is accredited due to factors such as improving healthcare infrastructure in regions like Asia-Pacific and increasing requirements to reduce healthcare costs. Furthermore, the growing cases of chronic illness and the need for hospice care and 24/7 monitoring systems support the need for healthcare consumers. In addition, the growing cases of cardiac and diabetic problems lead to emergencies like heart attacks, further supporting the need for healthcare consumers in the ehealth market. However, the ehealth provider's segment is also expected to have significant growth during the forecast period due to the growing number of market participants like Oura ring, Vantage Health, Mendelian, Galileo Health, Doctor On Demand, Butterfly, MedWand, Peppy, etc. Additionally, the growing advancements in telehealth and mobile software and rising demand are helping the segment's growth.

eHealth Market Analysis - By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa

Regionally, North American eHealth Market occupied most of the market share in 2021 and is expected to dominate in the forthcoming years. The Government of American Health took different steps to fuel market growth through the existence of a digitally maintained population, accessibility of encouraging infrastructures like high-speed internet, and different steps. The United States eHealth market contributed significantly to the North American market and pushed it to the top in 2021. eHealth providers mainly focus on improving solutions to meet end-users requirements, and escalating healthcare expenses will likely nourish market growth. The rising utilization of e-health solutions among outpatient care services is one factor driving the market demand. In addition, the introduction of new e-health software and services and an upgraded technology population base are projected to augment the market growth. The Canadian eHealth market is expected to have substantial growth in the e-health market. According to the CDC, 50% of the nearly 117 million population is expected to suffer from chronic diseases in the US.

Europe is the second region, followed by North America for the global eHealth market attributed to advanced technologies and the existence of some key players. European spending of 12% of GDP on healthcare. The European eHealth market is primarily driven by factors like advanced technologies and the presence of some significant players in the industry. Increasing demand for new technologies and systems for managing chronic illnesses such as diabetes, orthopedics, and cancer is propelling the market's growth rate. Other favorable government steps, like the implementation of the e-Health law, which is targeted at creating electronic health cards and infrastructure for telemedicine, also boost the market's growth rate. E-health is one of the most adopted ones in Germany after the passage of the Digital Care Act in 2019. Electronic patient records, app-related data, storage and analysis of health data, and video consultations are used as digital technology currently used by the German healthcare sector.

In Asia-Pacific, developing countries like India and China are estimated to lead within this region. It is due to the exposure of the e-health market that is likely to raise the potential of transforming patient-specific healthcare. As a result, the Asia-Pacific eHealth market is expected to grow at the highest rate. This region's growth is attributed mainly to the growing medical tourism industry, increasing per capita income, investments from the Government, and improvements in healthcare systems technologically. eHealth market in India is increasing its presence due to the increasing use of the internet and digital technologies due to government rules and the COVID-19 pandemic. India is home to nearly 5,455 health tech start-ups, which drives the eHealth market in this region. India is rich in population, which uses Information and Communication Technologies (ICT) for health (eHealth) to improve all areas and facilitate access to increase healthcare quality. Around 75% of the Indian population lives in remote and rural villages and has less access to basic healthcare facilities. For these people, Telemedicine plays a vital role in providing quality and affordable healthcare to these people and drives the market forward. Chronic diseases and infectious diseases among people are increasing nowadays and have become a primary threat in China. China people have increased mobile and internet use in the last few years. The Chinese Government is encouraging all healthcare sectors to utilize China's telecommunication infrastructure to help national healthcare reform. This region has also increased the number of government-sponsored Internet hospitals and eHealth interventions. Due to increasing technological and digital advancement in China plays a significant role in adopting health in this region. The adoption of Japanese telemedicine and robotics has had a significant impact on the system. Increasing Japan's aging population, the shortage of doctors, and the increasing demand for physicians drive the e-Health market in Japan. Japan is increasing the usage of data and ICT in the health, medical, and nursing care fields to provide health support for every citizen. As per Japan's Ministry of Health and Welfare, the increasing use of the internet by 50% of physicians and increasing search for basic information about the hospital before going drive the eHealth market in Japan.

The Latin American eHealth market is observed to have continuous growth over the period. The increase is responsible for the growing demand for people's health management and the necessity to reduce healthcare costs. Mexico's health has been growing in recent years due to advancements in healthcare to improve the quality of care. With the increasing population of over 120 million people, the Mexican Government and the healthcare industry are seeking new technological solutions. Hospitals are adopting the eHealth system to overcome the challenges faced by the hospitals. On the other hand, factors like utilization problems, privacy, and security concerns are estimated to hamper the Latin American market.

The MEA eHealth market is also expected to have a sizable growth rate during the forecast period due to growing concerns over proper healthcare services and the increasing investment and efforts of governments and the Ministry of Health to improve patient care. The developed countries of the MEA region, like UAE, Qatar, Jordan, Saudi Arabia, Turkey, Oman, etc., are pretty developed in healthcare sectors. They have an established system of E-health settings, like EHRs and even HITs (Hospital information technologies). However, even in some developed nations, the prevalence of mhealth is yet to set as remote patient care is still relatively uncommon in the regions. However, the developing countries of MEA are yet to undergo a complete technological transformation, and countries like Israel, Bahrain, Iran, Iraq, etc., are still struggling for promising eHealth services. Although multiple efforts are being made by the governments, establishing E-health in these regions is expected to have slow progress.

KEY MARKET PLAYERS:

Some of the prominent companies leading the global eHealth market profiled in the report are Boston Scientific Corp., IBM, Motion Computing Inc., GE Healthcare, Epocrates Inc., Telecare Corp., CompuMed, Medisafe, SetPoint Medical, Doximity, Lift Labs, Proteus Digital Health, and Apple.

RECENT HAPPENINGS IN THIS MARKET:

• In 2021, Lotus Technologies launched telemedicine. Lotus Telemedicine is mostly used by people in the United States and India people, which offers services to these people efficiently.
• In 2020, GE Healthcare announced an agreement to partner with Microsoft to launch a cloud-based COVID-19 patient monitoring software for health systems designed to provide hospital staff to monitor patients' data.
• In 2020, Epic partnered with Twilio and launched a telehealth platform with video communication. Twilio company uses cloud communication for the effective use of data.
• In March 2020, Allscripts Healthcare Solutions announced a new software solution for specialty medication management, Veradigm. Its business unit is focused on the payer and life sciences.
• In January 2019, Biotelemetry acquired Geneva Healthcare, a remote monitoring manufacturer for implantable cardiac devices.
• In January 2019, Medici, a medical communication company, acquired Chiron Health, a telehealth company. This acquisition will give Medici Company the to drive the Chiron health platform.