(PharmaNewsWire.Com, October 15, 2020 ) According to the new market research report eHealth Market is expected to reach $132.35 Billion by 2023 from $47.60 Billion in 2018, at a CAGR of 22.7%.
The Asia Pacific region is expected to register the highest growth rate in the global eHealth market during the forecast period. Growing medical tourism, growing consumerism in the healthcare industry, accelerated economic growth of countries in the region, the implementation of new ICT guidelines, and the implementation of eHealth programs are the factors propelling the growth of the market in this region.
North America dominated the market in 2017
In 2017, North America dominated the global eHealth market. The large share of this regional segment can be attributed to the region’s favorable regulatory scenario, the high adoption of eHealth solutions to curtail soaring healthcare costs, regulatory requirements regarding patient safety, and the presence of a large number of healthcare IT companies.
By products and services, the eHealth solutions segment dominated the eHealth market in 2017
On the basis of products and services, the eHealth market is segmented into eHealth solutions and eHealth services. In 2017, the eHealth solutions segment accounted for the largest share of the eHealth market. The eHealth solutions segment will continue to dominate the eHealth market, mainly due to the high demand of eHealth solutions due to the benefit of improved patient safety and patient care, stringent regulations, increasing government initiatives supporting the growth of these solutions, and the need to improve the efficiency of healthcare services by reducing medical errors.
By end user, healthcare consumers are expected to register the highest CAGR during the forecast period
Based on end user, the global eHealth market is segmented into healthcare providers, healthcare payers, healthcare consumers, pharmacies, and other end users. Healthcare consumers are expected to register the highest CAGR during the forecast period. The growth in this end-user segment can be attributed to the factors such as the increasing number of people requiring remote patient monitoring, rising demand for personalized care, and high penetration of digital technologies in the healthcare industry.
The players in the eHealth market include Allscripts (US), athenahealth (US), Epic Systems (US), IBM (US), GE Healthcare (US), Cerner (US), Optum (US), Philips (Netherlands), Siemens Healthineers (Germany), McKesson (US), Medtronic (Ireland), and Cisco Systems (US).
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