EHealth Market: Rapidly Evolving Industry…… COVID-19….


Global eHealth market is expected to reach USD 308.0 billion by 2022, according to a new report by Grand View Research Inc. The transition of the healthcare industry into digital healthcare system for management and analysis of patient health is expected to be the most vital driver of the market.
Increasing prevalence of chronic diseases, and technological advancements in this field are few impact rendering factors. Rising use of mobile technologies and internet along with increasing adoption for home care by patients is expected to propel market growth over the forecast period.
Furthermore, expanding scope of IT companies pertaining to the development of real-time applications and software catering to the healthcare industry is expected to drive demand over the forecast period. Federal agencies such as the European Coordination Committee of the Radiological, Electromedical and Healthcare IT Industry (COCIR), in order to encourage and popularise eHealth, formulated various policies since 2007. One of these is the eHealth Action Plan, formulated in December 2012, which includes 16 proposed actions to boost eHealth use, focused on increasing research, innovation, interoperability and adoption.
The American Health Information Community (AHIC) was chartered in the U.S. to make recommendations leading to the likely 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 benefits encouraging higher demand include 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 entire healthcare industry chain.
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https://www.grandviewresearch.com/industry-analysis/e-health-market/request/rs1
Further key findings from the report suggest:
·         The diagnostics segment of eHealth services market is expected to witness the fastest growth of above 15.0% over the next seven years owing to, the increasing number of patients with at least one chronic condition and rising prevalence of infectious diseases. According to the CDC, more than 50% population of the U.S. accounting for about 117 million people suffer from at least one chronic condition requiring routine monitoring.
·         The mHealth market is expected to be the largest and the fastest growing accounting for a market share of over 24.0% by 2022. According to statistics published by the American Telemedicine Association (ATA), the number of mHealth patents has increased multi-fold from 2000 to 2015 and over 44 million m-Health applications were downloaded in 2015 within North America.
·         North America is expected to dominate the market throughout the forecast period with a revenue share of over 30% by 2022. Presence of technologically updated population base and various current initiatives by the American Health Information Community (AHIC) are expected to be the drivers of this growth.
·         Key players of the market include IBM, McKinsey & Co., Motion Computing Inc., Epocrates Inc., Telecare Corp., Proteus Digital Health and Apple. In June 2014, Apple announced the integration of HealthKit platform into the upcoming iPhone operating system (iOS 8) which will provide a complete health overview of a person such as weight, sleep patterns, heart rates measures, blood pressure and calorie intake.
The global eHealth market size was valued at USD 85.44 billion in 2014 and is expected to increase at the rate of 15.8% over the forecast period. The eHealth offers cost-effective healthcare delivery in both high and low-income countries. As a result, World Health Organization (WHO) is promoting eHealth and urging member states to form a strategic plan for deployment of digital health services in the various domain of healthcare sector, acting as high impact rendering driver for the growth of this industry.
As a result of the sedentary lifestyle of people, the prevalence of lifestyle associated disorders such as hypertension and diabetes is expected to witness hike over the forecast period. These diseases demand round the clock monitoring of various physiological parameters such as blood pressure and blood sugar levels. These allows integration of healthcare data with portable devices and further this can be forwarded to the physician which gives real-time access of data and reduces errors, thereby boosting the demand of this industry.
Increasing awareness amongst people about eHealth and rising acceptance level amongst healthcare professionals coupled with evidence of the efficiency of using this technology is anticipated to result in substantial growth for this industry.
However, rising demand for the secure infrastructure of data privacy and growing security concerns are expected inhibit the growth of these services over the forecast period. In addition, lack of supporting infrastructure in developing region with the high cost of health IT tools is expected to restrain the growth of this industry.
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Grand View Research has segmented the Global eHealth market on the basis of products, services:
eHealth Service Outlook (Revenue, USD Billion, 2012 - 2022)
·         Monitoring Services
o    Vital Sign Monitoring
o    Special Monitoring
o    Adherence Monitoring
o    Accessories
o  Sensors
o  Diagnosis Services
o  Healthcare System Strengthening
o  Others
eHealth Type Outlook (Revenue, USD Billion, 2012 - 2022)
·         Electronic Health Record (EHR)
·         E-Prescribing
·         Clinical Decision Support
·         Telemedicine
·         Consumer Health Informatics
·         Health Management
·         mHealth
·         Healthcare Information System
eHealth End-use Outlook (Revenue, USD Billion, 2012 - 2022)
·         Providers
·         Public and Private Insurers
·         Government
·         Healthcare Consumers
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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