Patient Portal Market revenue to cross USD 8.2 Bn by 2027: Global Market Insights Inc.

The providers segment in the patient portal market is estimated to attain a CAGR of 13.8% till 2027 owing to the supportive government policies and rising usage of patient portal services by healthcare facilities.

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According to latest report “Patient Portal Market by Portal Type (Standalone Portal, Integrated Portal), Deployment Mode (On-Premise, Cloud-based), End-use (Healthcare Providers, Healthcare Payers, Pharmacies), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of patient portal will cross $8.2 billion by 2027.

Favorable initiatives and policies adopted by various federal governments have helped in driving the adoption of advanced healthcare IT solutions such as EHRs and patient portals globally. For instance, the Medicare and Medicaid services in the U.S. implemented the EHR Incentive Program for the U.S. hospitals, offering them financial incentives for incorporating the EHR in concordance with meaningful-use parameter. This approach helped in overcoming substantial capital expenditures that was the major restraint limiting EHR usage, especially for small and independent medical practitioners. With the onset of these financial subsidies, the EHR acceptance rates at healthcare facilities have surged notably.

The implementation of the Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009 was a revolutionary move, enacted by the government that headed the adoption of EHR across the hospitals in the U.S. The government has also allocated resources to educate health information technology (HIT) workers and helped healthcare facilities in integrating healthcare IT solutions including patient portals. Additionally, the government provides financial incentives to physicians intending to adopt healthcare IT solutions.

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The integrated portals segment dominated more than 66% of the patient portal market share in 2020 led by the high preference, ease of use and information sharing ability of integrated portals. Multiple published studies have reported that integrated patient engagement solutions are widely accepted owing to constant support and availability of resources to adopt, implement, and maintain clinical health information of healthcare facilities and patients. Integrated portals offer single point access to patients to manage their data and connects the providers & payers with patients to access their medical and administrative information.

The cloud-based segment in the patient portal market was valued at more than USD 1.85 billion in 2020 impelled by the reduced capital expenses, easy data management, and cost-effective model of cloud-based deployment. Cloud-based patient portals houses patient data on external servers and can be easily accessed with minimal technical requirements. External servers eliminate the need for installation of software and hardware, further reducing maintenance charges for the user. Cloud-based solutions offer better accessibility and integration as the operators can access the data from multiple locations, enabling them to provide better continuity of care. Moreover, cloud-based portals offer high flexibility and scalability in expanding services that enables easy addition of new physicians, patients, users, and location.

The patient portal market for providers segment will witness 13.8% growth rate through 2027 on account of the supportive government policies and rising usage of patient portal services by healthcare facilities. According to the HealthIT (the U.S. Government), by 2017, approximately 86% office-based physicians and medical practitioners had adopted EHR solutions, and around 80% among them possessed a CMS certified EHR. The acceptance of EHRs by office-based physicians had more than doubled, from 42% to 86% in 2017. Surging adoption of EHR systems is anticipated to boost the market potential. Favourable initiatives to facilitate the implementation of healthcare IT solutions is a key variable fostering the segment growth. 

India patient portal market is projected to reach over USD 228 million by 2027. The high market value is primarily attributed to acceptance of favorable policies for fueling the use of healthcare IT solutions by the government, growing diseased population requiring healthcare services at timely basis and improving healthcare infrastructure in the country. The Indian government has prioritized on digitizing healthcare ecosystem that includes usage of EHR to provide efficient patient data management, seamless coordination among healthcare providers, and enhancing healthcare experience.

Favorable policies such as the Ayushman Bharat Yojana and National Digital Health Blueprint (NDHB) managed by the Ministry of Health & Family Welfare (MoHFW) and the National Institution for Transforming India (NITI) Aayog are supporting the progression directed towards implementation of EHR. The formulation of nation-wide schemes such as NITI Aayog’s Health System for New India: Building Blocks, in 2019 and the National Digital Health Blueprint, in 2019, is intended to design a digital health record system across India. At the provider-level, extensive hospital chains such as Tata Memorial Hospital and Max Hospitals Private Limited have adopted electronic medical record (EMR) systems and are progressing steadily towards EHR. With a growing government support to build a digital healthcare ecosystem and implementation of EMR by major hospital chains in the country highlights robust patient portal market potential in India.

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Some of the major players operating in the patient portal market are Allscripts Healthcare Solutions, Inc., McKesson Corporation, Cerner Corporation, GE Healthcare, NextGen Healthcare Information Systems, LLC, Epic Systems Corporation, Inc., and Greenway Health, LLC. These companies are involved in formulating multiple strategic initiatives such as collaborations, product launches, research activities to expand their product portfolio and market presence.

Table of Contents (ToC) of the report:

Chapter 3   Patient Portal Market Insights

3.1    Industry segmentation

3.2    Industry landscape, 2016 – 2027 (USD Million)

3.3    Industry impact factors

3.3.1    Growth drivers

3.3.2    Industry pitfalls & challenges

3.4    Growth potential analysis

3.4.1    By portal type

3.4.2    By deployment mode

3.4.3    By end-use

3.5    COVID-19 impact analysis

3.6    Porter’s analysis

3.7    Competitive landscape, 2020

3.8    PESTEL analysis

Browse Complete Table of Contents (ToC) @

https://www.gminsights.com/toc/detail/patient-portal-market

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

 

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