The propelling factors for the growth of the e-health market include the growth in IoT and technological innovations, rising preference toward mobile technology and the internet, and rising demand for population health management.
- Lifestyle-associated disorders, such as hypertension and diabetes, are expected to increase over the forecast period. These diseases raise blood pressure and blood sugar levels. Thus, the increasing awareness among people about e-health and rising acceptance level among healthcare professionals, coupled with evidence of the efficiency of using this technology, are anticipated to result in substantial growth for this industry.
- In recent years, the number of applications for the internet in healthcare has increased exponentially. With the help of the internet, healthcare professionals can deliver health information to health consumers more conveniently and in less time. Right from recording the patient entry to discharge, everything is being recorded with the help of the internet. IoT is propelling the market growth majorly in personal e-Health.
- IoT brings ease and convenience for healthcare providers, as well as for end users. Hence, the adoption rate of incorporating it in healthcare is ever increasing, especially in developed countries.
Key Market Trends
The Electronic Health Records (EHR) Segment is Expected to Grow the Fastest During the Forecast Period
EHR is expected to dominate the overall market, which can be attributed to the growing adoption rate of EHR by many developed and developing countries, globally. EHR also 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 have thus, contributed to the growth of EHR worldwide.
EHRs can reduce errors, improve patient safety, and support better patient outcomes. A qualified EHR not only keeps a record of a patient's medications or allergies, but also automatically checks for problems whenever a new medication is prescribed and alerts the clinician to potential conflicts. EHRs can help providers quickly and systematically identify and correct operational problems. In a paper-based setting, identifying such problems is much more difficult, and correcting them can take years. Therefore, with growing digitalization, the use of EHR may rise significantly over the forecast period.
The North American Region Holds the Largest Market Share and is Expected to Follow the Same Trend Over the Forecast Period
North America is expected to be the largest market, due to the presence of a technologically updated population base and various current initiatives taken in the region. These aforementioned factors are expected to be the drivers for the market growth. The high growth of this region has also been attributed to the availability of high-tech healthcare infrastructure, along with high-speed internet. Thus, the rising awareness is expected to contribute substantially toward the development of the overall market.
The rising focus of the players on technological developments and innovation is expected to fuel the growth of the overall market in the coming few years. As per the study, the competitive scenario of the global e-Health market is likely to intensify with an increasing number of players in the near future. Some of the players dominating the market are Boston Scientific Corporation, GE Healthcare, IBM, and Allscripts Healthcare Solutions Inc.
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