The global eHealth market is projected to reach a value of ~US$ 693 Bn by 2030. The eHealth market is projected to expand at a CAGR of 16.5% from 2020 to 2030. The expansion of the eHealth market can be attributed to the increase in adoption of real time health systems (RTHS) and rising need for seamless communication in healthcare. North America is anticipated to lead the global eHealth market in terms of revenue, followed by Europe during the forecast period.
IoT in Healthcare: An Opportunity
The adoption of IoT (Internet of Things) is resulting in the convergence of technology, hospitals, and hospital staff. IoT-enabled solutions collect information by integrating with IoT sensors, and wearable and connected patient monitoring devices. This data collection is carried out using applications such as electronic health records (EHRs). Physicians and clinical professionals can focus on leveraging the collected data to deliver the most appropriate clinical protocols for their patients with the digitalization of healthcare services.
In this role, eHealth solutions are likely to play a crucial role in converting the data collected via IoT-enabled devices into actionable information and insights for both patients and clinicians. This opportunity is set to help hospitals deliver the most patient-centric services, and maintain collaboration among the hospital staff to avoid cases of clinical crisis.
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eHealth Market: Segmentation
The global eHealth market has been segmented based on component, end user, and region. In terms of component, the eHealth market has been segmented into solutions (electronic health records [HER], laboratory management systems [LMS], telehealth, medical image analysis systems, clinical decision support systems, pharmacy information systems, and others [PACS & VNA, etc.]) and services (consultation & diagnosis, and health monitoring). The end user segment of the eHealth market is categorized into healthcare payers/consumers, hospitals/clinics, pharmaceuticals, and others (home healthcare centers, ambulatory care centers, etc.).
eHealth Market: Regional Outlook
In terms of region, the global eHealth market has been divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America dominates the global eHealth market and accounted for 38.3% share at the end of 2019. It is estimated to maintain its dominance during the forecast period. Additionally, the eHealth market in North America is estimated to expand at a growth rate of 16.2% during the forecast period.
The eHealth market in Asia Pacific is projected to expand at the fastest CAGR of 19.2% during the forecast period, owing to technological advancements in healthcare services, specifically in China and Japan. The eHealth market in Europe and South America is anticipated to expand moderately during the forecast period.
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The report provides in-depth segment analysis of the global eHealth market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which offer considerable opportunities or account for significant share has also been included as part of geographic analysis of the eHealth market.
eHealth Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global eHealth market. Key players profiled in the report include Allscript Healthcare Solution, Inc., Cerner Corporation, Cisco Systems, Inc., Epic Systems Corporation, GE Healthcare Ltd, and Koninklijke Philips N.V.
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