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eHealth market set to grow at 22.7% CAGR and reach US$ 132.35 billion by 2023 explored in latest research

Medical Market Research

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).

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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. 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.

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Asia-Pacific region is expected to grow at eHealth market high rate over the forecast period due to increasing adoption of internet facilities in healthcare and rising widespread coverage of high-speed internet, along with a diversified huge patient pool.

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The adoption rate of incorporating IoT in healthcare is also increasing at a high pace in developed countries such as the United States, Canada, and Germany. Therefore, IoT and technology play a vital role in the growth of this market.

3 Executive Summary

4 Premium Insights

4.1 eHealth: Market Overview

4.2 APAC: eHealth Services Market, By Type

4.3 Geographical Snapshot of the eHealth Market

4.4 eHealth Market: Regional Mix

4.5 eHealth Market Share, By eHealth Solutions (2018 vs 2023)

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.2.1 Drivers

5.2.1.1 Growing Need to Manage Regulatory Compliance Through the Use of eHealth Solutions

5.2.1.2 Need to Curtail the Escalating Healthcare Costs

5.2.1.3 Increasing Government Initiatives Supporting the Use of eHealth Solutions and Services

5.2.1.4 High Prevalence of Chronic Diseases

5.2.1.5 Shift Towards Patient-Centric Healthcare Delivery

5.2.1.6 Shortage of Healthcare Professionals

5.2.1.7 Rising Usage of Big Data

5.2.2 Restraints

5.2.2.1 Reluctance Among Medical Professionals to Adopt Advanced eHealth Solutions

5.2.2.2 High Cost of Deployment and Maintenance of eHealth Solutions

5.2.3 Opportunities

5.2.3.1 Growth Opportunities in Emerging Nations

5.2.3.2 Growing Mhealth, Telehealth, and Remote Patient Monitoring Markets

5.2.3.3 Rising Use of eHealth Solutions in Outpatient Care Facilities

5.2.4 Challenges

5.2.4.1 Security Concerns Related to Privacy, Licensure, and Data Breaches

5.2.4.2 Lack of Skilled IT Professionals

5.2.4.3 Integration, Intraoperability, and Interoperability of eHealth Solutions

6 Industry Insights

6.1 Industry Trends

6.1.1 Integration Through Big Data Analytics

6.1.2 Cloud Computing in Healthcare

6.1.3 Increasing Cooperation Between Traditional Healthcare Players & IT-Driven Companies

6.2 Vendor Benchmarking: eHealth Solutions Market

6.3 Adoption Trends

6.3.1 Adoption Trends in North America

6.3.2 Adoption Trends in Europe

6.3.3 Adoption Trends in Asia Pacific

6.3.4 Adoption Trends in the Rest of the World

6.4 Potential eHealth Technologies

6.4.1 AI Platforms

6.4.2 App-Enabled Patient Portals

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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.

The top five players operating in eHealth Market include Cerner (US), McKesson (US), Philips Healthcare (Netherlands), GE Healthcare (US), and Allscripts (US). Other leading players in this market include athenahealth (US), Epic Systems (US), IBM (US), Optum (US), Siemens Healthineers (Germany), Medtronic (Ireland), and Cisco Systems (US).

North America accounted for largest are of the eHealth market, followed by Europe, Asia Pacific, and Rest of the World. Asia Pacific region is expected to grow at highest CAGR during forecast period.

Factors like large patient population, especially in China and India, growing per capita income, increasing investments in healthcare industry by key market players, and rising awareness about advanced technologies are driving growth of APAC eHealth market.

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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.

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