eHealth Software and Services Market

eHealth Software and Services Market Size (2023 to 2028)

The worth of the worldwide eHealth software and services market is expected to rise from USD 219.1 billion in 2023 to USD 384.4 billion by 2028, growing at a CAGR of 11.9% from 2023 to 2028.
 

MARKET DRIVERS:

Launching novel eHealth software and services majorly propels the global eHealth software and services market growth. The advancements in the software led to targeting specific gaps in the healthcare system. They helped to address the need for patient care. The innovation in digital tools led to improved healthcare access, efficiency, and outcomes leading to the adoption of eHealth services by healthcare providers and patients. Innovations in the software continuously focus on improving patient engagement and empowerment. The advanced features of the software enable healthcare providers to provide personalized care and make better-informed decision; usage of IoT, big data, and AI is key drivers that help in chronic care management and diagnosis.

The emerging demand for patient-centric healthcare delivery contributes to the growth of the eHealth software and services market. Patient-centric care focuses on prioritizing the needs of the patient, preferences, and involvement in the decision-making. eHealth software and services play a vital role in gathering and analyzing patient data, enabling healthcare providers to deliver more targeted and effective treatment. These digital services also help to track the patient's health condition and data. The rising adoption of the individual towards telehealth and telemedicine demands eHealth software to enable patients to access healthcare services from the comfort of their homes and improve convenience and accessibility.

The emergence of pandemic diseases such as COVID-19 favors global market growth. During the COVID-19 pandemic, telemedicine platforms and virtual care services became essential for healthcare. With the widespread pandemic diseases, the healthcare system faced several challenges in monitoring and managing patients remotely. Remote patient monitoring solutions enabled by eHealth software allow the healthcare provider to keep track of patients and their health status without direct physical contact. Factors include technological advancements, an increasing number of supportive initiatives from the governments of several countries, growing healthcare spending and emerging demand for patient-centric healthcare services that contribute to the growth of the eHealth software and services market.

MARKET RESTRAINTS:

Cybersecurity and data breach issues associated with digital data storage primarily hamper the growth of the eHealth software and services market. The lower adoption of the Internet in some emerging economies is another major obstacle to the market’s growth rate. In some emerging economies, the internet infrastructure is underdeveloped; slow internet speeds and frequent outages can hinder the delivery of eHealth services. The high cost of eHealth software services also limits the growth of the global eHealth software and services market.

Impact of COVID-19 on the eHealth software and services market:

The COVID-19 pandemic has positively impacted the global eHealth software and services market. During the COVID-19 pandemic, there was strict restriction condition, lockdowns and social isolation and these resulted in the adoption of digital tools and software. The COVID-19 pandemic accelerated the adoption of digital health solutions. The COVID-19 pandemic brought to light the value of telehealth as a dependable and scalable solution in times of medical emergency, These facilities are opening new business prospects by implementing telemedicine and remote patient monitoring. During the COVID-19 pandemic, there is a great need for the rapid transfer of information to healthcare providers for treatment. The COVID-19 pandemic also highlighted the value of telehealth as a dependable and scalable solution in times of medical emergency and this growth in digital technology led to the development of new eHealth software applications and help in expanding the various digital platforms. eHealth software and services played a crucial role in enabling remote patient monitoring and providing accurate, real-time data to healthcare providers. The COVID-19 pandemic crisis generated the demand for data analytics and AI tools in the healthcare system which accelerated the global market growth and opened new opportunities to the global eHealth software and services market.

REPORT COVERAGE:

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

eHealth Software and Services Market – By Type:

• eHealth Software
• Healthcare System Applications
• mHealth Applications (Solutions for patients)
• eHealth Services
• Telehealth

The telehealth segment held the largest share of the global eHealth software and services market in 2022 and is anticipated to continue to dominate the market during the forecast period. The COVID-19 pandemic crisis has fuelled the awareness and adoption of telehealth solutions, and this trend is likely to continue in the coming years and propel the growth of the telehealth segment in the global market. During the COVID-19 pandemic, many patients attended by healthcare authorities with the help of telehealth platforms. The growing adoption of digital health services by the patients and the benefits of telehealth services, such as time-saving and cost-effective further fuel the growth rate of the telehealth segment in the global market.

The eHealth services segment is expected to account for a substantial share of the global market during the forecast period. eHealth services play a vital role in gathering and analyzing patient data, enabling healthcare providers to deliver more targeted and effective treatment. These digital services also help to track the patient’s health condition and data. The rising adoption of the services enables patients to access healthcare services from the comfort of their homes, improving convenience and accessibility, and driving the growth of the eHealth services segment in the global market.

eHealth Software and Services Market – By End-user:

• Public/Private healthcare institutions
• Physicians
• Healthcare workers
• Individuals

Based on end-users, the healthcare workers segment is anticipated to hold a substantial share of the worldwide market during the forecast period. eHealth services are more beneficial for the healthcare worker due to their efficiency and time-saving ability.

The public and private healthcare institutions segment is anticipated to account for a notable share of the global market in the coming years.

eHealth Software and Services Market – By Region:

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

North America is expected to account for the leading share of the global market during the forecast period. The governments of North American countries have been promoting the adoption of eHealth software and services to improve healthcare outcomes, which is one of the major factors propelling the North American market growth. The growing number of initiatives in countries such as the U.S. and Canada in favor of eHealth software and services further fuels the growth rate of the North American market. North American region has well-developed healthcare facilities and research institutions that foster the adoption of eHealth services, which favors the regional market's growth. The growing aging population and rising incidence of age-related disorders contribute to the growth of the North American market. In the U.S., around 37% of adults have adopted digital health services. 

Europe was the second-largest regional market for eHealth software and services in 2022 and is expected to hold a substantial share of the worldwide market during the forecast period. Factors include growing healthcare expenditure, the rising prevalence of cardiovascular diseases and cancer in Sweden and rapid adoption of digital tools and technologies drive the European market growth.

The Asia-Pacific region is expected to showcase lucrative growth and project the fastest CAGR among all regions in the worldwide market during the forecast period. Factors such as technological advancements, the growing number of healthcare facilities, the increasing geriatric population associated with many chronic conditions, the rising adoption of digital health services such as telehealth and telemedicine drive the growth of the APAC market.

Latin America is predicted to account for a considerable share of the global market during the forecast period. The growing aging population, rising obesity rates that led to an increase in the usage of health apps, virtual consultation with doctors related to medical prescriptions, rising awareness among people using mobile health apps and growing internet usage propel the Latin American market growth.

The Middle East and Africa region is expected to register a steady CAGR in the global eHealth software and services market during the forecast period.

KEY MARKET PLAYERS:

McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, Allscripts Healthcare Solutions, Inc., E*HealthLine.Com, Inc., AT&T Inc., RamSoft, Apple, Inc., Fitbit, Sectra, Doctor on Demand, Evident, eRAD, AdvancedMD, and KareXpert Technologies are some of the major players in the global eHealth software and services market.

RECENT DEVELOPMENT IN THE MARKET:

• In February 2021, RamSoft presented its RamSoft at the 2021 Healthcare Information and Management Systems Society (HIMSS) summit, a cloud-based system that allows EMR integration and open access to imaging data.