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Global eHealth Market to Grow at a CAGR of 13.5% During 2021-2026, Aided by Rapid Technological Advancements and Adoption

According to a new report by EMR titled, ‘Global eHealth Market Report and Forecast 2021-2026’, the global market for eHealth attained a value of about USD 206 billion in 2020. The industry is further expected to grow at a CAGR of 13.5% in the forecast period of 2021-2026 to attain approximately USD 440 billion by 2026.

North America holds a significant share in the global eHealth industry owing to the rapid adoption of the latest technologies in the United States and Canada. The extensive deployment of electronic health records (EHRs) in various hospitals and speciality clinics in the United States and Canada is propelling the growth of the eHealth industry. Moreover, the introduction of various favourable government initiatives to promote eHealth is significantly contributing to the market growth of eHealth. For instance, the Canadian government announced an investment of $240.5 million to develop, expand, and launch digital platforms to expand capacity to deliver health care virtually while improving access to virtual health supports in May 2020. In addition, increasing research and development (R&D) activities, along with the presence of various leading companies in the region, are leading to the development of advanced eHealth solutions, which is expected to fuel the market growth in the forecast period.

Siemens Healthcare GmbH, one of the leading companies in the market, offered a flexible telemedicine solution for healthcare providers by leveraging its teamplay myCare software in June 2020. With this, the company planned to bring a new and flexible telemedicine solution to enable remote care for patients with chronic diseases. The software allows healthcare professionals to design their telemedicine programs by adapting technology to the patients’ requirements. It can also be used to record the health status of staff to respond quickly to any changes, in case of the resurgence of the COVID-19 outbreak. Moreover, the telemedicine solution provides care to a large number of patients with low use of employee resources while decreasing unscheduled visits to hospitals. The development of such innovative solutions is increasing the use of telemedicine, which is augmenting the market growth.

Market Analysis by Service, Type, End Use, and Region:

  • The market, on the basis of service, can be divided into monitoring services, diagnosis services, and healthcare system strengthening.
  • Based on type, the industry can be divided electronic health record (EHR), e-prescribing, clinical decision support, telemedicine, consumer health informatics, health management, mHealth, and healthcare information system.
  • The major end uses of eHealth include into providers, public and private insurers, government, and healthcare consumers.
  • The regional markets for eHealth include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The growing popularity of telemedicine owing to the rising demand for decentralised and personalised healthcare is propelling the growth of the eHealth industry.
  • The global market for eHealth is being aided by the rapid adoption of digital tools and technologies such as artificial intelligence (AI) and big data for health management and remote monitoring in the wake of the COVID-19 pandemic.
  • The rising adoption of electronic health records (EHR) to enhance the quality of healthcare and automate monotonous and repetitive tasks such as data entries is driving the growth of the eHealth industry.
  • The development of electronic health records that can boost the accessibility of data to healthcare professionals while enhancing cost-effectiveness and functionality is further augmenting the market growth of eHealth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for eHealth for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the services, types, end uses, and major regions of eHealth.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global eHealth market are General Electric Company, Teladoc Health, Inc., Motion Computing Inc., Epocrates Inc., and Siemens Healthcare GmbH, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

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