The e-health services are relatively recent healthcare practices that include incorporation of electronic processes and communication systems. The rapid adoption of advanced technology in various sectors is augmenting the utilization of such services all over the world.
Market Research Future (MRFR) has recently availed a detailed report asserting the E-Health Services Market is projected to reach USD 8,905 Million by 2030 at 18.50% CAGR during the forecast period 2022-2030.
Market Drivers and Restraints:
The rapid technological development is playing a crucial role in the expansion of the global e-health services market. The rise in adoption of advanced technology in the healthcare sector is acting as a major driver for the expansion of the global e-health services market. The increasing government initiatives for supporting the use of e-health services in healthcare sector and emergence of curtailing the escalating healthcare costs are attributing factors to the growth of the global e-health services market.
Various regions in the world are facing a shortage of healthcare professionals and high prevalence of chronic diseases, leading to the growing need for e-health services in such regions. The shift in focus of the players of healthcare sector towards providing patient-centric healthcare facilities is fueling the expansion of the global e-health services market. The brisk advancement in technology has led to the increased adoption of cloud computing in the various industrial sectors, including healthcare, which in turn is driving the global e-health services market.
The prominent players of the global e-health services market are IBM Corporation (U.S), Allscripts Healthcare Solutions Inc. (U.S), GE Healthcare (U.S), McKinsey & Co. (U.S), Motion Computing Inc. (U.S), Epocrates Inc. (U.S), Telecare Corp. (U.S), Proteus Digital Health (U.S) Apple (U.S), GE Healthcare (U.S), Boston Scientific Corp (U.S), and Cerner (U.S).
The benefits of e-health services such as minimum errors, large data storage and easy access, reliable EHR and EMR services, secure data sharing, and others are resulting in the incorporation of e-health services in the healthcare sector, which is driving the global e-health services market. The global e-health service market is also observed to be flourishing owing to the increased application of ICT for clinical and financial data handling in various hospitals and clinics.
On the flipside, the high cost of installation and maintenance of the services, reluctance towards the adoption of advanced e-health services among medical professionals, lack of basic healthcare infrastructure in underdeveloped regions, and privacy and security concerns among the patients are likely to hamper the growth of the global e-health service market to some extent.
Market Segmentation:
The global e-health services market has been segmented on the basis of type, service, and end-users. By type, the global e-health services market is segmented into electronic health records (EHR), e-prescribing, telemedicine, big data systems, clinical decision support system (CDSS), mobile medical technologies, consumer health IT, and knowledge management system (KMS). By service, the market is segmented into administrative service, clinical service, and financial service. By end-users, the market is segmented into hospitals, clinics, health insurance companies and others.
Detailed Regional Analysis:
The global e-health services market is geographically distributed in for major regions such as Americas, Europe, Asia-Pacific and the Middle East and Africa. Among these regions, the North America region is considered to be the largest market for the e-health services due to the concentration of major players of global e-health services market in this region, the inclination towards the use of software for data management and the presence of well-developed healthcare infrastructure in this region.
The rapid adoption of advanced technology in the healthcare sector of the Europe region has made it the second largest market for the e-health services among other regions of the world. Whereas, the Asia-Pacific region is projecting fastest growth in the global e-health services market owing to the rapid development and adoption of advanced technology by healthcare sector in this region.
The e-health services market in the Middle East and Africa region is projecting steady growth due to lack of technological awareness and poor healthcare infrastructure in the underdeveloped areas of this region.
Competitive Analysis:
The increase in research and development expenditure and focus on strategic mergers and acquisitions by the leading players of the global e-health services market is strengthening the competition among the players of the global market.
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