The eHealth industry is growing rapidly and is expected to continue growing in the foreseeable future. According to a recent study, the global eHealth Market size is projected to reach USD 193.8 billion by 2025 from USD 69.5 billion in 2020, at a CAGR of 22.8% during the forecast period. This growth is driven by the increasing number of people using technology, and a growing demand for cost-effective healthcare solutions. The rise of digital health technology has enabled people to access healthcare services and information quickly and easily, and has made it easier for medical professionals to manage patient care in a more streamlined and efficient way. Additionally, eHealth solutions provide better access to healthcare services for individuals who may not have access to traditional healthcare options, as well as increased transparency in the healthcare industry.
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Current Trends in eHealth Market
1. Wearable Devices: Wearable devices are becoming increasingly popular in the eHealth industry. These devices are used to track a variety of metrics, such as steps taken, heart rate, and sleep quality. This data can be used to inform healthcare professionals and help them make decisions about treatments.
2. Telemedicine: Telemedicine is a rapidly growing field in the eHealth industry. It allows patients to connect with healthcare professionals from anywhere in the world. Telemedicine can be used to diagnose, monitor, and treat a variety of conditions.
3. Artificial Intelligence: Artificial intelligence (AI) is becoming more and more prevalent in the eHealth industry. AI can be used to automate processes such as data analysis and decision-making. This can help healthcare professionals make more informed decisions and provide better care for their patients.
4. Cloud Computing: Cloud computing is a major trend in the eHealth industry. It allows healthcare professionals to store and access data from anywhere in the world. This can be especially useful for remote or rural areas where access to healthcare is limited.
5. Big Data: Big data is a powerful tool in the eHealth industry. It allows healthcare professionals to analyze large amounts of data quickly and accurately. This can help them make better decisions about treatments and provide better care for their patients.
Some of the prominent key players are:
- Allscripts (US)
- athenahealth (US)
- Epic Systems (US)
- IBM (US)
- GE Healthcare (US)
- Cerner (US)
- Optum (US)
- Philips Healthcare (Netherlands)
- Siemens Healthineers (Germany)
- McKesson (US)
- Medtronic (Ireland), and many more…….
Opportunity: Rising use of eHealth solutions in outpatient care facilities
In response to the rising pressures on health systems to lower the cost of care, a majority of healthcare organisations are focusing on introducing specialised outpatient services. The shift toward an outpatient care model is boosting the adoption of eHealth solutions, as these solutions provide a convenient way of delivering carecialized outpatient services. The shift toward an outpatient care model is boosting the adoption of eHealth solutions, as these solutions provide a convenient way of delivering care. These solutions provide easier access to appointments and integration among care providers for a holistic response to care delivery.
In addition, these solutions help physicians address patient needs (for access) and allow for remote monitoring of the patient's health. Owing to the benefits of eHealth solutions, various federal bodies are also supporting the deployment of eHealth solutions in outpatient care settings. For instance, the Government of New South Wales (NSW), through its Community Health and Outpatient Care program, is still operational as a part of the eHealth Strategy for NSW Health: 2016–2026, which focuses on implementing EMR solutions in outpatient care facilities operating throughout NSW. This has boosted the adoption of eHealth solutions among stakeholders in outpatient care facilities to deliver better health services and help enhance patient outcomes.
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North America is estimated to hold the largest share of the global eHealth market, accounting for around 50.0% of the total market in 2019. This is mainly due to the presence of strong digital infrastructure, a large number of healthcare providers, and the presence of several major players in the region.
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