eHealth Market Size, Share & Trends Analysis Report By Product (Telemedicine, Health Information Systems), By End-use (Providers, Payers), By Region, And Segment Forecasts, 2024 - 2030

eHealth Market Size, Share & Trends Analysis Report By Product (Telemedicine, Health Information Systems), By End-use (Providers, Payers), By Region, And Segment Forecasts, 2024 - 2030

eHealth Market Growth & Trends

The global eHealth market size is anticipated to reach USD 1,123.26 billion by 2030 and is projected to grow at a CAGR of 18.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing need to manage regulatory compliance and rising healthcare costs are fueling the market growth. Moreover, the increasing prevalence of chronic disease, rising adoption of digital healthcare, and growing need for patient-centric healthcare delivery are contributing to the market growth.

Many patients, doctors, and government bodies are increasingly adopting telemedicine, which offers healthcare access via applications and video consultations. This technology bridges the distance between patients and healthcare providers, negating the need for physical hospital or clinic visits. The rise in video consultations allows patients to receive medical services remotely, circumventing the need for in-person visits, appointment scheduling, and travel, thus reducing healthcare costs. Market players are developing Chatbot services for one-time consultations or basic medical inquiries. For instance, WeChat in China provides Chatbot services for basic medical inquiries and other mobile health solutions such as booking appointments, accessing medical records, and paying medical bills.

Favorable government initiatives, including awareness campaigns and research funding for healthcare IT, to improve medical care accessibility are expected to drive the market growth. According to data published by GenomSys in May 2023, mHealth initiatives in Italy have demonstrated the efficacy of using mobile devices to deliver health solutions cost-effectively. Some of the mHealth services applications using mobile devices include:

• Patients utilize smartphones for health education and to communicate with healthcare professionals
• Healthcare providers can easily access updated clinical guidelines, collaborate with peers, analyze data, receive diagnostic support, and engage with patients
• Adherence and disease management are facilitated through smart alerts, which notify physicians of noncompliance with prescribed medications based on remote monitoring data, prompting timely intervention

The pandemic has created multiple challenges for global healthcare services. However, this situation has provided a much-needed boost to digital health technologies in disease surveillance, new strategy development, and frontline care services, leading to a change in its product life cycle trajectory. The adoption of digital health technologies drastically increased among healthcare professionals to improve patient's quality of care during the pandemic, which is expected to create significant market growth opportunities over the upcoming decade. Moreover, hospital-based outpatient and primary care are two promising areas that can be delivered using digital solutions, boosting the adoption of digital solutions. Hence, we can observe a surge in the digital health technology market, especially in telehealth and mHealth services. Furthermore, multiple countries have adopted digital services, telehealth, and remote monitoring platforms to enable smooth interactions between physicians and their patients.

Various initiatives undertaken by key players in the market to strengthen their position are positively impacting market growth. For instance, in April 2023, AT&T Intellectual Property collaborated with Cherish and introduced Cherish Serenity for in-home sensing to help monitor the health of older adults. The Cherish Serenity platform, powered by Cherish AI, introduces advanced in-home safety and health monitoring solutions while maintaining user privacy.

eHealth Market Report Highlights

• The market is segmented by product into telemedicine, health information systems, mhealth, epharmacy, e-prescribing, and computerized physician order entry. Healthcare information systems segment led the market with the largest revenue share of 39.35% in 2023. The market growth is attributed to increasing healthcare spending and improvements in IT infrastructure. In addition, the growing need for remote patient monitoring is increasing its adoption
• Based on end use, the market is segmented into providers, payers, and patients. The providers segment led the market with the largest revenue share of 51.82% in 2023, driven by the efficiencies eHealth solutions provide in managing patient workflows and data
• North America held the market with the largest revenue share of 38.95% in 2023. This can be attributed to the surging demand for healthcare information technology solutions in the medical sector. Asia Pacific is anticipated to witness at the fastest CAGR of 19.5% from 2024 to 2030

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