The global eHealth market size was valued at USD 85.44 billion in 2014 and is expected to increase at the rate of 15.8% over the forecast period. The eHealth offers cost-effective healthcare delivery in both high and low-income countries. As a result, World Health Organization (WHO) is promoting eHealth and urging member states to form a strategic plan for deployment of digital health services in the various domain of healthcare sector, acting as high impact rendering driver for the growth of this industry.
As a result of the sedentary lifestyle of people, the prevalence of lifestyle associated disorders such as hypertension and diabetes is expected to witness hike over the forecast period. These diseases demand round the clock monitoring of various physiological parameters such as blood pressure and blood sugar levels. These allows integration of healthcare data with portable devices and further this can be forwarded to the physician which gives real-time access of data and reduces errors, thereby boosting the demand of this industry.
Increasing awareness amongst people about eHealth and rising acceptance level amongst healthcare professionals coupled with evidence of the efficiency of using this technology is anticipated to result in substantial growth for this industry.
However, rising demand for the secure infrastructure of data privacy and growing security concerns are expected inhibit the growth of these services over the forecast period. In addition, lack of supporting infrastructure in developing region with the high cost of health IT tools is expected to restrain the growth of this industry.
North America eHealth market, by product, 2012-2022 (USD Million)
Key products available in this industry include Electronic Health Records (EHR), telemedicine, health information system, clinical decision support, health management, consumer health informatics, m-health, and e-prescribing. EHR dominated the overall market with over 25.0% share which can be attributed to growing adoption rate of EHR by many developed and developing nations globally.
EHR improves healthcare quality and offers convenience for healthcare providers in terms of quick access to patient records, improved decision support, provides clinical alerts and real-time quality reporting. These benefits contributed to the growth of EHR worldwide.
mHealth industry is expected to witness lucrative growth over the forecast period with a CAGR of over 27.0%. This substantial growth in mHealth can be attributed to transforming consumer preferences on account of increasing consumption and demand for data services coupled with rapidly growing penetration of smart phones. In addition, 3G and 4G enabled services such as high-speed data transfer and video calling assist in fast healthcare delivery.
Services encompassed in the study includes monitoring, diagnostic, healthcare strengthening and other services. Monitoring segment includes vital sign, specialty, adherence monitoring and accessories, which held the largest share of over 60.0% in 2014. Growing demand for self-monitoring devices, that automatically monitors various physical activities and vital signs and generates a database of it, is expected to further propel the segment’s growth over the forecast period. Diagnosis services are expected to witness lucrative growth over the forecast period with a CAGR of over 15.0%. Diagnosis services offer connectivity to patients instantly which assist in the diagnosis of ailments and other healthcare issues.
End-Users of eHealth include healthcare providers, insurers, government and healthcare consumers. Healthcare providers held a substantial share in 2014, as eHealth offers great convenience to healthcare professionals in terms of patient work flow and data management.
On the contrary, insurer segment is expected to witness lucrative growth over the forecast period owing to a reduction in paperwork time as all the healthcare data would be synchronized, and allow faster claims settlement.
Geographically, the eHealth market is divided into North America, Europe, Asia-Pacific, Latin America and MEA. North America dominated the overall eHealth industry with over 38.0% share, which can be attributed to the availability of supportive infrastructure such as high-speed internet.
Asia-Pacific is expected to witness lucrative growth during the forecast period owing to increasing government support to improve healthcare infrastructure. The presence of large population base suffering from chronic disorders and high unmet medical needs of the patient are the major factors expected to expedite the region’s growth over the forecast period.
Competitive Market Share Insights
Key players operating in this market include Motion Computing Inc., Epocrates Inc., Telecare Corporation, Medisafe, Set Point Medical, IBM, Doximity, Lift Labs, and Apple. The key trend witnessed in this market includes new product launches, technological advancements, and collaborations to gain competitive advantage.
For instance, in August 2015, Doximity a leading medical network launched its second generation residency navigator tool, an interactive tool designed to help doctors to compare residency program. This launch is expected to help the company to increase penetration of E- health service.
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