New York, Aug. 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Patient Portal Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" - https://www.reportlinker.com/p06316169/?utm_source=GNW
With the onset of COVID-19, several countries embraced digital healthcare to a notable extent to share data regarding infection status. The Electronic Health Record (EHR) platforms witnessed a dramatic increase in their adoption rate during the pandemic. To mitigate and contain the spread of COVID-19 infection, government and public healthcare officials are adopting electronic case reporting (ECR) platforms for tracking the infection spread status. Many healthcare providers across the world are finding patient portals such as Electronic Health Records (EHR) and Electronic Medical Records (EMR) feasible in their system to keep a track of total tests administered, treatment results, evolving case definitions, and streamline many other processes. For instance, in March 2020, Mount Sinai created an electronic health record data which consists of multiple files all of which were linked together using a masked medical record number and a unique patient encounter key. Thus, the COVID-19 outbreak is more likely to increase the utilization and adoption of patient portals in the healthcare system both now and in the future as well.
The patient portal market has been growing owing to the increasing adoption of the patient-centric approach by healthcare payers and the increasing demand for EHR in the market. For Instance, In February 2021, Northern Inyo Healthcare District collaborated with Cerner Corporation to transform its Electronic Health Record (EHR). The collaboration involved Northern Inyo Healthcare District moving to an updated electronic system that supports physicians, nurses, and clinicians to share data across the district’s multiple offices. Such collaborations will contribute to the rising adoption of EHRs in the United States.
Also, In February 2021, Medway NHS (National Health Services) Foundation Trust has adopted Allscripts Sunrise electronic patient records to boost its digital maturity quickly. The trust signed a deal with Allscripts in December 2020, and the first phase of the core functionality is expected to go live six months after the project begins. With this, clinicians will have better access to a single view of patient information with the launch of clinical papers with in-context links to other IT systems in use at the trust.
The current market is also evolving as the government is undertaking various initiatives for the patient portals to digitalize the healthcare system and standardize regulations, and infrastructure for maintaining health records, which is the reason leading to an increase in the demand for the patient portal. For instance, the Center for Sustainable Development, In March 2020 released a document that mentioned various initiatives by several governments around the world. The document stated that, earlier in 2020, the European government launched Europe Electronic Healthcare Records (EHR), Project Smart4Health, and InteropEHRate project with an aim toward a citizen-centered healthcare ecosystem in the European Union. With this platform, the government is strategizing to empower citizens with record exchange, personal connected health services, and the ability of data donorship to the scientific and research communities. Such increase in the government initiatives is also expected to drive the growth of the market.
Moreover, the rising aging population and growing chronic diseases are putting continuous pressure on the capacity and financial viability of healthcare systems. Additionally, advancements in healthcare technology, genomics, connected devices, big data analytics, and artificial intelligence are generating vast potential for health data and insights, that are helping healthcare providers to make better and faster diagnoses and more informed treatment decisions. Additionally, the market players are focusing on the market development strategies such as collaboration, partnerships, and product launches. For instance, in March 2022 Meditech and Google Health collaborated to bring search simplicity for electronic health records which helps to not only aggregate patient data from different settings but present a comprehensive patient view to clinicians. Thus, owing to all the aforementioned factors the market is experiencing tremendous growth and is expected to have a high market share over the forecast period. However, the concerns regarding data privacy and safety coupled with the high cost of implementation and deployment of these tools are acting as a major restraint for the market growth.
Key Market Trends
Integrated Patient Portal Holds the Largest Share in the Portal Segment expected to hold a major market share in the Patient Portalmarket
Integrated patient portals, also known as connected or tethered portals help for a larger or combined system, such as a hospital management system (HMS) or electronic health record (EHR). An integrated portal features a direct connection to the patient database of a medical facility or organization and is capable of providing a wide variety of functions and services. This type of patient portal system requires more time and effort for design and is therefore associated with greater development costs.
In order to enhance the patient experience and increase hospital efficiency, companies are collaborating with healthcare providers to better serve the large base of residents across the world. Such the demand for an integrated patient portal is expected to drive the growth of the segment. For example, in August 2021 Novo Integrated Sciences launched NovoConnect an online patient portal app that puts the patients first and allows the patient to take control of their healthcare and wellness by having secure digital access to their personal patient charts.
The integrated setup is a very supportive web-based tool for quality improvement and performance with a range of quality and efficiency measures, which is expected to help the market grow during the forecast period.
The below mentioned graph suggest the burden of chronic diseases such as Cancer is anticipated to increase with high growth rates in future which will increase the procurement of integrated patient portals by the provider as well at the patients end to manage such a huge burden of patients, therefore the market is anticipated to hold high market share over the forecast period.
North America was Observed to be the Largest Patient Portal Market
The North American patient portal market is expected to grow owing to wide technological advancements in the region. Countries, such as the United States and Canada, have been successful in implementing IT technologies in their healthcare systems, which as a result, may boost the market growth.
The United States is the largest market for patient portals in the North American region. Owing to the well-equipped healthcare system and the higher adoption of telemedicine, the market for the patient portal is expected to witness significant growth over the forecast period. As per the data published by HealthIT.gov, during the year 2019-2021, around 86% of non-Federal general acute care hospitals had adopted a certified electronic health record (EHR). High adoption of EHR is associated with the covid pandemic which resulted in the maximization of virtual data. Owing to the EHR adoption, the market for the patient portal is witnessing high growth in the United States. The Office of the National Coordinator for Health IT (ONC) finalized federal rulemaking in May 2020 with the goal of enhancing access, exchange, and use of electronic health information. In order to access and manage their health records using a smartphone health app of their choice, consumers must use secure, standards-based application programming interfaces (APIs).
The healthcare IT industry in Canada is versatile and well-equipped. Due to the advanced healthcare system, the adoption of information technology in healthcare is as high as in the United States in the country. In May 2022, the Orléans Health Hub brought together three hospitals and six community-based service providers to enhance care and service coordination in a highly accessible, bilingual system that is reflective of the local region. For a smooth, connected experience for patients, The Hub consolidates a variety of specialized and community healthcare services under one roof. With such collaborative approaches taken by Canadian organizations, there will be an increasing number of people accessing health information online which will propel the growth of the market studied in the country.
In comparison to the United States and Canada, Mexican hospitals have been slow to adopt electronic health record systems because of the lack of affordable systems in the market. However, many hospitals in the country have developed their own software for patient portals or EHR, etc., which is expected to increase the use of health IT tools and ultimately contribute to the growth of the market studied in Mexico. As per the Mexico Health System Review published in Health Systems in Transition Vol. 22 No. 2 2020, information technology (IT) for health is backed mainly by the Mexican Social Security Institute (IMSS) through electronic medical records (EMRs), the private sector through applications, and hospitals and state-level health services through telehealth. Thus, Mexico is focusing more on installing electronic medical records, thereby contributing to the market’s growth.
Thus the above mentioned factors are expected to drive the growth of the market in this region during the forecast period.
Competitive Landscape
In the coming years, few other players are expected to enter the market. The fairly competitive landscape includes an analysis of a few international as well as local companies which hold the market shares and are well known. include Allscripts Healthcare Solutions, AtenaHealth Inc, Cerner Corporation, Curemd Healthcare, Eclinical works LLC, Epic corporation Inc, GE Healthcare, Greenway Health LLC, Intelichart, Mckesson Corporation, Nextgen Healthcare Information systems LLC and others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
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