The global eHealth market is projected to reach USD 132.35 billion by 2023 from USD 47.60 billion in 2018, at a CAGR of 22.7% during the forecast period. The factors expected to drive the market include the need to control the growing healthcare costs, growing geriatric population, high prevalence of chronic disorders, increasing eHealth initiatives for the implementation of eHealth solutions, and growing demand for effective management of patient records. However, the reluctance among medical professionals to adopt advanced eHealth solutions and high-cost of deployment and maintenance of eHealth solutions may hinder the growth of the eHealth market to some extent.
The eHealth services segment is expected to grow at the highest CAGR during the forecast period
On the basis of products and services, the eHealth market is segmented into eHealth solutions and eHealth services. The eHealth services segment is expected to register the highest CAGR during the forecast period. Factors such as the rising demand for online medical consultation, the widespread preference of patients for home healthcare and rehabilitation due to the convenience of these services, regulatory support, and the use of telecommunication and multimedia technologies combined within mobile and wireless healthcare delivery systems are the reasons propelling the growth of this market.
The healthcare providers segment accounted for the largest share of the eHealth market in 2017
Based on end user, the global eHealth market is segmented into healthcare providers, pharmacies, healthcare payers, healthcare consumers, and other end users. In 2017, the healthcare providers segment dominated the eHealth market. The large share of this end-user segment is mainly due to the rising government initiatives to enhance and scale-up the use of eHealth in hospitals and clinics, increasing healthcare reforms, the need to improve patient care while increasing operational efficiencies, and improving hospital infrastructure in emerging geographies.
The Asia Pacific to register the highest growth rate in the eHealth market during the forecast period
North America accounted for the largest share of the eHealth market, followed by Europe, Asia Pacific, and the Rest of the World. However, the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. Factors such as the large patient population, especially in China and India, growing per capita income, increasing investments in the healthcare industry by key market players, and rising awareness about advanced technologies are driving the growth of the APAC eHealth market.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–42%, Tier 2–38% and Tier 3–20%
• By Designation – C-level–40%, Director Level–35%, Others–25%
• By Region – North America–35%, Europe–30%, Asia Pacific–20%, RoW–15%
The major players in the eHealth market are McKesson (US), Allscripts (US), athenahealth (US), Epic Systems (US), IBM (US), GE Healthcare (US), Cerner (US), Optum (US), Philips (Netherlands), Siemens Healthineers (Germany), Medtronic (Ireland), and Cisco (US).
The report analyzes the eHealth market and aims at estimating the market size and future growth potential of this market based on various segments such as product & service and end user. The report also includes an in-depth regulatory analysis for various regions across the globe and competitive analysis of the key players in this market along with their company profiles, product and service offerings, recent developments, and key market strategies. This report also provides market information on North America, Europe, Asia Pacific, and the Rest of the World.
Reasons to Buy the Report
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help garner a greater share. Firms purchasing the report could use one or any combination of the below-mentioned five strategies.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on product and service portfolios offered by the top players in the eHealth market. This report analyzes the market by product and service, end user, and region
• Product Development/Innovation: Detailed insights on the upcoming trends and product and service launches in the eHealth market
• Market Development: Comprehensive information about the lucrative emerging markets for eHealth
• Market Diversification: Exhaustive information about new products and services, growing regions, recent developments, and investments in the eHealth market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products, services, and technological capabilities of the leading players in the eHealth market