July 23, 2020

E-health services Expected 12.9% CAGR And Market Value 270 Billions By 2023

Global E-health services Information, by types (EHR, ePrescribing, Telemedicine, big data systems, Clinical Decision Support, Consumer health IT) by service (Administrative ,Clinical, Financial) by end user (hospitals, clinics and others)-Forecast to 2023

Global E-Health Services Market Measured to be Worth $ 270 BN by 2023

E-health is known for its excellent management of healthcare organizations using information & communication technology (ICT) as resource. In the medical sector, ICT is used in the form of medical health records and telemedicine. Report on the global e-health services market, as published by Market Research Future (MRFR), anticipates that this market could surge at 12.9% CAGR between 2017 and 2023. In terms of value, the market can be worth USD 270 Bn by the end of the forecast period.

The preeminent market driving factor of the global e-health services market is the advantages that e-health services offer over conventional methods of clinical data management. Such advantages include avoidance of manual records, saving the paper, and timely access to patient data. Other factors driving the market growth include the availability of infrastructure for implementation of e-health, extensive use of software and ICT healthcare, improvement in quality, reduced cost, and lastly, safe, and adequate storage of data. However, the cost of installation of e-health service can restrain the market.

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Market Segmentation

The global e-health services market segmentation encompasses end-user, service, and types.

Regarding end-users, this market has been segmented into clinics, health insurance companies, hospitals, and others. By types, the market has been segmented into various technologies that include big data systems, clinical decision support system (CDSS), consumer health information technology (IT), electronic health records (EHR), e-prescribing & telemedicine, and knowledge management system (KMS).

In the context of service, the market has been segmented into administrative services, clinical services, and financial services. The administrative services segment has been sub-segmented into workforce management and others. The clinical services segment has sub-segmented into applied intelligence, care delivery management, enterprise imaging, health cloud, and others. The financial services segment has been sub-segmented into financial risk management and revenue cycle management.

Regional Segmentation

A geographical outlining of the global e-health services market covers Europe, the Americas (North America & South America), Asia Pacific, and the Middle East & Africa (MEA).

North America alone can emerge as the largest regional market due to the extensive use of software for data management and concentration of significant market players in the USA. This makes North America bigger than South America in terms of market revenue. Maximum market revenue is generated in the USA. Availability of advanced medical facilities in the USA and Canada is the second reason for strengthening the market growth in North America. Therefore, the mere presence of North America makes the Americas the largest regional market.

Europe is the second-largest market, primarily due to technological advancement and the presence of some prominent market players. Due to reasons, same as the Americas, Europe is scoring well, more specifically Western Europe. The pressing country-specific markets in this region include France, Germany, Italy, Spain, and the UK.

During the forecast period, the Asia Pacific region can rise as the fastest growing regional market due to growing infrastructure and improving standard of medical facilities available here. The largest country-specific markets in this region are Australia, China, India, Japan, and South Korea.

The MEA region can experience steady growth during the forecast period as internet facilities are improving a lot in the Middle East segment and a little bit in Africa. Low per capita income keeps the market growth slow. The vital country-specific markets in this region are Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.

Key Players

Prominent players in the global e-health services market include Allscripts Healthcare Solutions Inc. (USA), Apple (USA), Boston Scientific Corp (USA), Cerner (USA), Epocrates Inc. (USA), GE Healthcare (USA), IBM Corporation (USA), McKinsey & Co. (USA), Motion Computing Inc. (USA), Proteus Digital Health (USA), and Telecare Corp. (USA).

Latest Industry News

  • India-based e-health service provider HealthAssure has secured funding worth USD 2.5 Mn. 10 JUL 2019. This is expected to help the company in pervading the regional market with substantial innovation. New entrants are expected to make the regional market a competitive one.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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