eHealth is the use of information and communication technologies (ICT) for health. It includes, electronic health record (EHR), computerized physician order entry, ePrescribing, clinical decision support system, telemedicine, telerehabilitation, telesurgery, teledentistry, consumer health informatics, health knowledge management, virtual healthcare teams, eHealth Software and Services, medical research using grids, and health informatics / healthcare information systems.
The global eHealth software and services market is estimated to account for US$ 210.3 Bn in terms of value in 2020 and is expected to reach US$ 458.3 Bn by the end of 2027.
Global eHealth Software and Services Market: Drivers
Emergence of pandemic diseases is expected to boost growth of the g global eHealth software and services market over the forecast period. For instance, as of 10:45am CEST, 5 August 2020, there have been 18,318,928 confirmed cases of COVID-19, including 695,043 deaths, globally, as reported to World Health Organization.
Moreover, launch of novel eHealth software and services is also expected to aid in growth of the market. For instance, in June 2020, Fitbit launched a new Ready for Work solution that gives employees access to key health metrics from their Fitbit device along with exposure, symptom and temperature logging, to help employers with the unprecedented challenge of returning to the workplace during the COVID-19 pandemic.
eHealth Software held dominant position in the global eHealth software and services market in 2019, accounting for 69.6% share in terms of value, followed by eHealth Services, respectively.
Figure 1. Global eHealth Software and Services Market Share (%), by Value, by Type, 2019
Global eHealth Software and Services Market: Restraints
Low adoption of internet in some emerging economies is expected to hinder growth of the global eHealth software and services market. For instance, according to Pew Research Center (October 2019), Sub-Saharan Africa has a lower level of internet use than any other geographic region, ranging from a high of 59% in South Africa to a low of 25% in Tanzania.
Moreover, high cost of eHealth software and services such as Picture Archiving and Communication System (PACS) and Radiology Information System (RIS) is also expected to limit growth of the market. For instance, conventional PACS systems can cost around US$ 5,000 to US$ 100,000.
Global eHealth Software and Services Market: Opportunities
Launch of telemedicine programs is expected to offer lucrative growth opportunities for players in the global eHealth software and services market. For instance, in March 2020, UK HealthCare launched a new telemedicine program to help prevent the spread of the novel coronavirus.
Moreover, increasing adoption of cloud-based PACS is also expected to aid in growth of the market. Cloud-based PACS offers several benefits such as on-demand self-service, broad network access, resource pooling, rapid elasticity, and measured service.
The global eHealth software and services market was valued at US$ 187.7 Bn in 2019 and is forecast to reach a value of US$ 458.3 Bn by 2027 at a CAGR of 11.8% between 2020 and 2027.
Figure 2. Global eHealth Software and Services Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027
Market Trends/Key Takeaways
Major players in the global eHealth software and services market are focused on adopting partnership strategies to enhance their market share. For instance, in December 2019, Evident, a member of the CPSI (NASDAQ: CPSI) family of companies and a leading provider of electronic health record (EHR) systems and services, and Sunnybrook Health Sciences Center announced that Sunnybrook and CPSI have signed definitive agreements to create a first-of-its-kind, Canadian-made Hospital Information System (HIS) solution.
Major players in the market are also focused on adopting various marketing strategies to enhance their market share. For instance, in December 2019, eRAD, a U.S.-based provider of radiology products and services, presented its EHR-Certified RIS at Radiological Society of North America (RSNA) 2019, held in Chicago (U.S).
Figure 3. Value Chain Analysis
Global eHealth Software and Services Market: Competitive Landscape
Major players operating in the global eHealth software and services market include, McKesson Corporation, eHealth Technologies, GE Healthcare, Johnson and Johnson Healthcare Systems, Inc., Aerotel Medical Systems, Ltd., Siemens AG, Allscripts Healthcare Solutions, Inc., E*HealthLine.Com, Inc., AT&T Inc., RamSoft, Apple, Inc., Fitbit, Sectra, Doctor on Demand, Evident, eRAD, AdvancedMD, and KareXpert Technologies.
Global eHealth Software and Services Market: Key Developments
Major players in the global eHealth software and services market are focused on adopting various marketing strategies to enhance their market share. For instance, in February 2020, RamSoft demonstrated its RamSoft, a cloud-based solution that offers EMR integration and open access to imaging data, at 2020 Healthcare Information and Management Systems Society (HIMSS) meeting.
Major players in the market are also focused on adopting partnership strategies to enhance their market share. For instance, in December 2019, Sectra, a medical imaging IT and cybersecurity company, collaborated with Leica Biosystems developing an integrated clinical pathology solution. The Sectra digital pathology software solution is expected to facilitate integration with leading pathology information systems and EMRs.
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