Patient portal market is projected to grow at a CAGR of 18.1% by 2020
The growth of the overall patient portals market can be contributed to federal mandates, growing adoption of a patient-centric approach in healthcare delivery, increasing EHR adoption, and growing popularity of patient portals among the elderly.
Seattle, United States – November 18, 2016 /MarketersMedia/ —
The report “Patient Portal Market – by Type (Standalone, and Integrated portal), by Delivery Mode (Web-Based, and Cloud- Based), & by End Users (Providers, Payers, Pharmacies, and Others) – Analysis & Global Forecast to 2020”, analyzes and studies the major market drivers, restraints/challenges, opportunities, key players, competitive landscape and geographical markets. This report studies the global patient portal market for the forecast period of 2015 to 2020. This market is expected to reach USD 2.74 Billion by 2020 from USD 1.19 Billion in 2015, at a CAGR of 18.1%.
The global patient portal market is segmented on the basis of type, delivery mode, end user, and region.
By type, the patient portal market is categorized into standalone and integrated patient portals. The integrated portals are estimated to account for the largest share of the global patient portal market, by type, in 2015. This large share can be attributed to the fact that most of the integrated portals are provided by the same vendor as an electronic health record (EHR) system. These solutions allow a user to complete multiple business functions from within the same interface. As they provide a one-stop solution, they are cheaper, favored, and therefore high in demand.
On the basis of delivery mode, the market is segmented into web-based and cloud-based modes. In 2015, web-based mode of delivery is expected to command the largest share of the global patient portal market. However, the cloud-based mode of delivery is expected to grow at a higher CAGR due to its advantages—cloud-based services can help healthcare organizations share and integrate information from disparate locations or systems in real time and generate a database registry.
The patient portal market has been further segmented by end users into providers, payers, pharmacies, and others. Providers include hospitals, ambulatory care centers, home healthcare agencies, nursing homes, diagnostic & imaging centers, and physicians. Other end users include employer groups and government entities. In 2015, the providers’ segment is expected to command the largest share of the global patient portal market, by end user. Rising mandates for incentive programs for providers; government initiatives to improve the quality of care delivered to patients and curtail the soaring cost of healthcare among providers; and the growing need to improve the affordability and accessibility of healthcare services are some factors propelling the use of patient portal solutions among providers.
On the basis of region, the global market is divided into North America, Europe, Asia-Pacific, and the Rest of the World. In 2015, North America is poised to account for the largest share of the patient portal market, followed by Europe and Asia-Pacific. However, the European region is slated to grow at the highest CAGR during the forecast period. The large share of the North American patient portal market can primarily be attributed to the federal mandates in the U.S., rising number of accountable care organizations in the U.S., rising aging population in the U.S., Canada’s efforts to enhance healthcare delivery, and digital health measures in Canada.
Federal mandates like the Meaningful Use incentives, growing patient-centric approach in healthcare delivery, increasing EHR adoption, and growing popularity of patient portals among the elderly are some factors expected to drive the growth of the global patient portal market in the coming years.
Allscripts Healthcare Solutions, Inc. (U.S.), McKesson Corporation (U.S.), athenahealth, Inc. (U.S.), Cerner Corporation (U.S.), eClinicalWorks (U.S.), CureMD (U.S.), NextGen Healthcare Information Systems, LLC (U.S.), Greenway Health, LLC (U.S.), Medfusion (U.S.), Epic Corporation Inc. (U.S.), GE Healthcare (U.K.), and Intelichart (U.S.) are some of the key players in the patient portal market worldwide.
For more information, please visit http://www.marketsandmarkets.com/pdfdownload.asp?id=49094801
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