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Global Patient Portal Market Size was valued at USD 0.6 Billion in 2022. The Patient Portal market Type is projected to grow from USD 0.7 Billion in 2023 to USD 3.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 16.50% during the forecast period (2023 – 2032). Increasing patient portal preference among payers, rising EHR adoption rates, and supportive legislative measures, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The usage of EHRs has expanded as a result of regulations that support the use of digital health initiatives, which has helped the market growth for patient portals. Patient portal usage has increased as a result of government organizations' demand for database interoperability and the EHR's simplicity of use in encouraging patient engagement. For instance, a study that analyzed the adoption of EHRs in Chinese and US institutions between 2007 and 2018 was published on February 18, 2021 in the Journal of Medical Internet Research. According to the report, between 2007 and 2018, the average adoption rates of the Chinese hospitals that were chosen increased from 18.6% to 85.3%, while those of US hospitals increased from 9.4% to 96%. The demand for patient portals is also anticipated to increase as a result of an increasing number of projects in developing countries. For instance, the Ayushman Bharat Digital Mission, which the Indian government unveiled in September 2021, aims to digitalize healthcare while fostering interoperability between data that is available in various formats. Due to positive factors, it is estimated that during the anticipated time frame, the market's overall size for patient portals will develop as a result of the increasing use of EHRs.
The market is expanding as a result of increasing patient centricity adoption by healthcare payers and rising EHR demand. EHRs are becoming more and more common as the healthcare business quickly becomes digital. More than half of upper-middle- and high-income countries have national EHR systems in place, according to the World Health Organization (WHO). As the government works on multiple projects to digitise the healthcare industry and standardize the rules and infrastructure for preserving medical information, the need for patient portals is expanding.
Governments throughout the world are focusing on developing the laws, framework, and standards for maintaining health records, which is fostering the market's growth. By 2022, the majority of Australians should have access to My Health Record, the country's national digital health record platform. This would facilitate the retrieval of healthcare information that has been stored on the platform for the benefit of all national healthcare providers.
The aging of the population and the prevalence of chronic diseases also continue to pose a threat to the capacity and financial viability of healthcare systems. The potential for health data and insights is also being increased by developments in connected devices, big data analytics, and artificial intelligence, enabling medical professionals to choose more accurate diagnoses and treatments. Thus, driving the Patient Portal market revenue.
The global Patient Portal market segmentation, based on Type, includes standalone patient portals and integrated patient portals. Integrated patient portal segment dominated the global market in 2022. This is due to the fact that it can provide complete solutions that increase productivity, have various functionalities, and are reasonably priced. Integrated portals do away with the need to develop a separate, customized system to bridge the gap between medical requirements and patient information. Research initiatives concentrating on the creation of add-ons for integrated EHRs are also projected to stimulate the development. An EMR/EHR with linked patient portals can be added to any other healthcare IT system or existing EMR/EHR.
The global Patient Portal market segmentation, based on Delivery Mode, includes web-based delivery and cloud-based delivery. Web-based delivery segment dominated the global market in 2022. The growth of this market can be attributed to the benefits offered by this software, such as quicker implementation times, a lack of additional hardware investment needed, automated software upgrades, and low startup costs. On-premises software cannot be installed off-site or maintained by a third party, whereas web-based software can. Vendors of web-based software often charge an annual or monthly subscription based on usage. Web-based software has a number of advantages, such as affordability (because no hardware or software systems need to be acquired), an expedited return on investment, and ease of use.
The global Patient Portal market segmentation, based on End User, includes providers, payers, pharmacies, and others. Providers segment dominated the global Patient Portal market in 2022. Over 90% of hospitals reportedly give patients access to their medical records, with 72% of those facilities enabling users to see, download, and share their whole medical file, according to the Office of the National Coordinator for Health IT (ONC). The segment's growth is being fueled by healthcare providers' growing usage of patient portals. In September 2019, Epic Systems and Phelps Health merged to build a platform that integrates all Phelps Health service areas into a single EHR system.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Patient Portal Market dominated this market in 2022 (45.80%). This is a result of technological advancements in medical IT. Healthcare systems in countries like the United States and Canada have successfully utilized IT technology, which could foster business growth. More than 130 million people in the US suffer from at least one chronic ailment. Nearly 70% of deaths in the US occur as a result of these diseases each year. Comorbidity management has become challenging because of the magnitude of the target population in the region. The switch from volume-based to value-based compensation is also increasing the demand for patient portal systems in North America. Further, In the North American area, the U.S. Patient Portal market had the biggest market share, while the Canada Patient Portal market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Patient Portal market accounted for the healthy market share in 2022. This is due to the rising usage of telemedicine and healthcare IT in the area as well as the digitization of medical procedures. The acceptance of and need for upscale medical infrastructure in Asia-Pacific will be the main factors driving the region's market. Further, In the European region, the German Patient Portal market had the biggest market share, and the U.K. Patient Portal market had the quickest rate of growth.
The Asia Pacific Patient Portal market is expected to register significant growth from 2023 to 2032. China, Japan, and India will support the expansion of the market for high acuity information systems as they are the region's most developing nations. Moreover, In the Asia-Pacific region, the Indian Patient Portal market had the quickest rate of growth while China's Patient Portal market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Patient Portal market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Patient Portal sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Patient Portal industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Patient Portal sector. Major players in the Patient Portal market, including Allscripts Healthcare Solutions, Inc., McKesson Corporation, Athenahealth, Cerner Corporation, eClinicalWorks, CureMD, NextGen Healthcare Information Systems, LLC, Greenway Health, LLC, Medfusion, Epic Corporation Inc., GE Healthcare, and Intelichart, are attempting to increase market demand by investing in research and development operations.
Allscripts Healthcare Solutions Inc. (Allscripts) provides services in healthcare information technology. Some of the company's main customer-focused services include Electronic Health Records (EHR), financial management, population health management, and consumer solutions. The company also provides advice, managed IT, education, hardware, and hosting services. Among its well-known trademarks include Allscripts, Allscripts TouchWorks, Allscripts Professional HER, Veradigm, and FollowMyHealth. Allscripts offers services to retail pharmacies, pharmacy benefit managers, physicians, hospitals, governments, health systems, health plans, retail clinics, and post-acute organizations across North America, Asia, Australia, the Middle East, and the UK. Allscripts is headquartered in Chicago, Illinois, in the country of the United States. Both Payerpath and ePrescribe were announced by Allscripts to have received accreditation from the Electronic Healthcare Network Accreditation Commission and the Healthcare Network Accreditation Programme, respectively, in August 2018.
Valant Medical Solutions develops practice management and electronic health records software for the behavioral health sector. The company's software, which incorporates outcome measurements, billing, reporting, telemedicine, and clinical recording capabilities all tailored to the unique requirements of mental health, can help customers increase administrative and clinical efficiency. In November 2022, Valant unveiled MYIO, the first comprehensive patient engagement mobile app for behavioral health. By eliminating the need for manual patient data entry into a number of systems, MYIO increases the efficiency of behavioral healthcare practices.
· Allscripts Healthcare Solutions, Inc.
· McKesson Corporation
· Athenahealth
· Cerner Corporation
· eClinicalWorks
· CureMD
· NextGen Healthcare Information Systems, LLC
· Greenway Health, LLC
· Medfusion
· Epic Corporation Inc.
· GE Healthcare
· Intelichart
March 2022: Tata Elxsi unveiled TEngage, a cloud-based digital health platform that enables hospitals and healthcare organizations to provide healthcare whenever and wherever while ensuring a uniform patient experience across all channels.
· Standalone Patient Portals
· Integrated Patient Portals
· Web-Based Delivery
· Cloud-Based Delivery
· Providers
· Payers
· Pharmacies
· Others
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 0.6 Billion |
|
Market Size 2023 |
USD 0.7 Billion |
|
Market Size 2032 |
USD 3.2 Billion |
|
Compound Annual Growth Rate (CAGR) |
16.50% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Delivery Mode, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Allscripts Healthcare Solutions, Inc., McKesson Corporation, Athenahealth, Cerner Corporation, eClinicalWorks, CureMD, NextGen Healthcare Information Systems, LLC, Greenway Health, LLC, Medfusion, Epic Corporation Inc., GE Healthcare, and Intelichart |
|
Key Market Opportunities |
Increasing need for patient portals |
|
Key Market Dynamics |
Increasing EHR adoption rate, growing popularity of patient portals among payers, and regulatory provisions favoring market growth |
The global Patient Portal market size was valued at USD 0.6 Billion in 2022.
The global market is projected to grow at a CAGR of 16.50% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Allscripts Healthcare Solutions, Inc., McKesson Corporation, Athenahealth, Cerner Corporation, eClinicalWorks, CureMD, NextGen Healthcare Information Systems, LLC, Greenway Health, LLC, Medfusion, Epic Corporation Inc., GE Healthcare, and Intelichart
The Integrated Patient Portals Type dominated the market in 2022.
The Web-Based Delivery Mode had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65322
Published on :
Sep 2023
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