The global eHealth Market size is expected to reach USD 878.6 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 17.4% from 2022 to 2030. The transition of the healthcare industry into a digital healthcare system for management and analysis of patient health is expected to be the most vital driver of the market growth. The increasing prevalence of chronic diseases and technological advancements in this field are some of the other driving factors. The rising use of mobile technologies and the internet along with the increasing adoption of home care by patients is expected to propel the market growth during the forecast period.
Furthermore, expanding the scope of IT companies in
the development of real-time applications and software catering to the
healthcare industry is expected to drive demand during the forecast period.
Federal agencies such as the European Coordination Committee of the
Radiological, Electromedical and Healthcare IT Industry (COCIR), to
encourage and popularise eHealth, formulated various policies.
The American Health Information Community (AHIC) was
chartered in the U.S. to make recommendations leading to the development of
eHealth to the Secretary of the U.S. Health Department. Based on these
recommendations, efforts are being made to increase awareness levels for
currently available mobile applications and wearable remote monitoring devices.
The eHealth market products and services are encouraging higher demand for
round-the-clock care service, wider and faster access to patient information,
reduction of administrative and medical errors, self-monitoring and management
by patients, and centralization of the entire healthcare industry chain.
In addition, e-health providers have taken on the duty
of giving a global overview of the COVID-19 e-health solutions. On the
internet, solution suppliers, consultants advising the healthcare system, and
healthcare professionals have been urged to submit COVID-19 solutions. The
increase in IoT and technological breakthroughs increased desire for
mobile technology and the internet, and rising demand for population health
management are all factors contributing to the e-health market growth.
Related Press Release@ eHealth Market Report
eHealth Market Report Highlights
- The diagnostics segment is expected to witness the fastest CAGR of
above 15.0% over the next seven years, owing to the increasing number of
patients with at least one chronic condition and the rising prevalence of
infectious diseases
- According to the CDC, more than 50% population of the
U.S.-accounting for about 117 million people-suffers from at least one
chronic condition requiring routine monitoring
- mHealth is expected to be the largest and the fastest-growing
segment. Favorable government initiatives and increasing collaboration of
several healthcare institutions with manufacturers are driving the growth
of this segment. For instance, American Telemedicine Association (ATA)
collaborated with Philips for increasing the implementation and adoption
of telehealth services during the COVID-19 pandemic in 2020
- North America is expected to dominate the market throughout the
forecast period. The presence of a tech-savvy population base and various
current initiatives by the American Health Information Community (AHIC) is
expected to be the drivers of this growth GE Healthcare and Microsoft
expanded their long-standing partnership in April 2020 to introduce a cloud-based
COVID-19 patient monitoring software for health systems, which will
further boost the e-health sector growth
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