Global eHealth Market Set to Hit $272.54 Bn by 2030, Growing at 14.84% CAGR, Driven by Rising Adoption of Digital Technology, States Kings Research

DUBAI, UAE, Nov. 28, 2023 /PRNewswire/ -- As per the recent report released by Kings Research, the global eHealth Market garnered a valuation of USD 90.12 billion in 2022 and is estimated to reach revenue of USD 272.54 billion by 2030, growing at a 14.84% CAGR from 2023 to 2030. The increasing adoption of digital health solutions and technologies is a driving force behind the significant growth of the market. The rising demand for remote patient monitoring, telemedicine, and health information exchange is contributing to this expansion as patients and healthcare providers recognize the accessibility and efficiency benefits of eHealth.

Additionally, the aging population is another crucial driver, leading to a higher demand for healthcare services. eHealth solutions are well-suited to address the challenges posed by this demographic shift. Furthermore, technological advancements, including AI and IoT, are enhancing the capabilities of eHealth systems, further propelling the market's growth potential. These technologies can enhance diagnostic accuracy, streamline administrative processes, and provide personalized healthcare services.

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Electronic health, or eHealth, is the application of digital, and information & communication technologies (ICT) to enhance the management, delivery, and results of healthcare. It includes a broad spectrum of applications designed to improve healthcare offerings. Electronic health records (EHRs), which centralize patient data and facilitate safe patient information sharing and access for healthcare practitioners, are a significant use of eHealth. This boosts care coordination and increases the effectiveness of healthcare delivery.

Trending Now: CSRI and eHealth Exchange Partner to Enhance Interoperability and Data Exchange

In January 2023, the Clinical Services Research Institute (CSRI) and eHealth Exchange announced a partnership to develop and implement the Trusted Exchange Framework and Common Agreement (TEFCA). This collaboration focused on enhancing interoperability and data exchange across the healthcare industry, benefiting both patients and healthcare providers.

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Competitive Landscape

Major participants in the global eHealth market are employing various organic and inorganic strategies to strengthen their foothold in the competitive market. Key industry players are implementing various strategic initiatives like partnerships, mergers and acquisitions, product innovations, and joint ventures to diversify their product offerings and grow their market presence in various regions.

For instance, In December 2022, MyHealthcare and Paras Healthcare partnered to digitally revamp Paras Healthcare's healthcare delivery platform. With this move, the companies aimed to use cutting-edge digital technology to enhance clinical delivery and patient experience.

Key players profiled in the global eHealth market include:

• Cerner Corporation
• Epic Systems Corporation
• McKesson Corporation
• Allscripts Healthcare Solutions, Inc.
• Athenahealth, Inc.
• Philips Healthcare
• GE Healthcare
• Siemens Healthineers
• IBM Watson Health
• Teladoc Health, Inc.

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Rising Adoption of Digital Technology in Hospitals and Clinics to Spur Market Expansion

By end-user, the eHealth market has been divided into hospitals & clinics, healthcare payers (insurers), patients, pharmaceutical companies, government healthcare agencies, and others.

The hospitals & clinics segment constituted the biggest share of the market revenue in 2022. In an effort to improve patient care, expedite administrative procedures, and better healthcare delivery overall, hospitals and clinics have been embracing digital technology such as electronic health records (EHRs), telemedicine platforms, and health information exchange systems. The noteworthy proportion of this segment's share is indicative of the increasing awareness about the significance of incorporating eHealth solutions into conventional healthcare environments to enhance patient outcomes and promote operational efficacy.

Application of IoT Devices in Healthcare to Propel eHealth Market Progress

Based on technology, the market is classified into artificial intelligence (AI) & machine learning (ML), internet of things (IoT), blockchain, big data analytics, cloud computing, and others.

The Internet of Things (IoT) segment led the eHealth market in 2022, capturing the largest market share. IoT devices and sensors play a vital role in collecting real-time health data, monitoring patient conditions, and enhancing healthcare delivery. These devices enable remote patient monitoring, tracking medication adherence, and the seamless transmission of critical health information to healthcare providers, resulting in improved patient outcomes and reduced strain on healthcare systems.

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Increased Adoption of Digital Health Solutions to Drive eHealth Market Growth

The eHealth market is growing substantially due to the increased adoption of digital health solutions, including remote patient monitoring and telemedicine. The soaring demand for healthcare services among the aging population is another driving factor, while advancements in AI and IoT are enhancing eHealth systems' capabilities, improving diagnostic accuracy, and streamlining processes.

Furthermore, the rising adoption of wearable health technologies and mobile health apps is set to facilitate market growth considerably in the foreseeable future. These tools empower individuals to proactively manage their health and well-being by offering real-time data. The potential benefits of eHealth are extensive, spanning everything from enhanced patient outcomes and cost savings in healthcare to increased patient convenience and accessibility. Additionally, eHealth can play a crucial role in elevating population health management and bolstering disease prevention initiatives.

North America to Retain Its Dominance in eHealth Market Due to Significant Investments in Healthcare Technology

North America is anticipated to retain its leading position in the global eHealth market due to numerous factors such as a strong legislative framework, significant investments in healthcare technology, and an established healthcare infrastructure, contributing to this dominance. With the increasing use of electronic health records (EHRs), telemedicine services, and the emergence of digital health companies, the United States has been at the forefront of eHealth adoption.

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Key Points from TOC:

Chapter 1 Introduction of the Global eHealth Market 
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions

Chapter 2 Executive Summary

Chapter 3 Research Methodology
3.1 Data Collection
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach

Chapter 4 Global eHealth Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter's Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis

Chapter 5 Impact of Russia-Ukraine War

Chapter 6 Global eHealth Market, By Type
Chapter 7 Global eHealth Market, By Technology
Chapter 8 Global eHealth Market, By End-User
Chapter 9 Global eHealth Market, By Geography
Chapter 10 North America 
Chapter 11 Europe 
Chapter 12 Asia-Pacific 
Chapter 13 Middle East & Africa 
Chapter 14 Latin America 
Chapter 15 Global eHealth Market Competitive Landscape

Chapter 16 Company Profiles
16.1 Cerner Corporation
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis

16.2 Epic Systems Corporation
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis

16.3 McKesson Corporation
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis

16.4 Allscripts Healthcare Solutions, Inc.
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis

16.5 Athenahealth, Inc.
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis

Browse Complete TOC: https://www.kingsresearch.com/toc/ehealth-market-291

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Wearable Healthcare Devices Market: The global Wearable Healthcare Devices Market was valued at USD 26.85 billion in 2022 and is projected to reach USD 146.89 billion by 2030, growing at a CAGR of 27.40% from 2023 to 2030.

Electronic Health Record (EHR) Market: The global Electronic Health Record (EHR) Market was valued at USD 32.51 billion in 2022 and is projected to reach USD 84.21 billion by 2030, growing at a CAGR of 11.15% from 2023 to 2030.

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