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Patient Portal Market Size is Projected to Reach USD 8250.6 Million by 2027 at 15.6% CAGR.

January 5th, 2022 Market Research Future Releases

Market Highlights

According to MRFR analysis, the global patient portal market is expected to reach USD 8250.6 million by 2027 at CAGR of 15.60%. Online maintenance of patient data helps in accessing various records related to diagnostic services, clinic visits, prescriptions and other data remotely.

Patient portals can be accessed by healthcare professionals, pharmacists, patients as well as other payers and providers virtually. Healthcare providers such as physicians can easily interact and communicate with patients along with accessing health records during teleconsultation. Diverse nature of information related to patient history such as chronic diseases, clinic visits, ongoing treatment regime, hospital admissions, vaccines status and coverage for various services can be stored on servers.

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Moreover, increasing number of government policies favorable for patient portal market is increasing lucrativeness for market entrants to capitalize on available opportunities. For instance, the Australian government’s rolling out of My Health Record in 2019 has increased number of General Practitioners (GP) maintaining digital records. Maintaining digital records on My Health Record is not compulsory and GPs can maintain their own digital records. Similarly, Centers for Medicare & Medicaid Services (CMS) has norms which penalizes providers in case of failure to maintain digital records.

Recently, during April 2018, CMS Medicaid EHR Incentive Program was renamed with Promoting Interoperability Program to improve interoperability and access to health records. These policies which promote digital exchange of information between patients, physicians, diagnostic laboratories, pharmacies, imaging centers which can be utilized to schedule appointments with providers such as radiology centers, refilling prescriptions without visiting retail pharmacies or even understand cost structure with payers for treatments, check benefits as well as coverage for various chronic diseases.

The global patient portal market is currently dominated by several market players. The key players are involved in geographic expansion, acquisition, and strategic collaborations to maintain their global footprint in the patient portal market. For instance, in July 2019, Allscripts Healthcare Solutions, Inc. (US) entered a collaboration with Microsoft Corporation (US) to enable interoperability between different technology platforms as well as to streamline electronic health records (EHR) data sharing for Microsoft HealthVault users. Thus, an increasing number of software companies collaborating with practice management and EHR providers to leverage data-driven health outcomes for development of effective web-based platform is increasing global patient portal market size. Moreover, regulatory norms introduced by government mandates for adoption of EHR is expected to increase the lucrativeness of patient portal market during the forecast period.

Regional Analysis

The market has been divided, by region, into the North America, Europe, Asia-Pacific, and Rest of the World.

North America is anticipated to hold the largest market share owing to availability of major players operating in the region. Allscripts Healthcare Solutions, Inc. (U.S.), Athenahealth (U.S.), IQVIA eClinicalWorks (U.S.), CureMD (U.S.), NextGen Healthcare Information Systems, LLC (U.S.) and Epic Corporation Inc. (U.S.) are some of the notable companies operating in the region. Companies are collaborating with healthcare providers to better serve the large base of patients across the world. For example, in 2019, the EHR vendor, Healthcare Solutions, Inc. (U.S.), partnered with Ephraim McDowell Health (US), an integrated medical center serving six counties in Kentucky. North America presents lucrative opportunities for market entrants to access market by developing effective tools for accessing healthcare records. According to an article published during July 2018 in Canadian Medical Association Journal, 85% of family physicians use an electronic medical record but patients find it difficult to access health records. Thus, technology companies can capitalize on the available opportunities and partner with healthcare providers in the region to fuel the growth of patient portal market. The patient portal market in North America is divided into the US and Canada.

European patient portal market has been categorized into Germany, France, the UK, Italy, Spain, and the rest of Europe. Europe is anticipated to hold the significant market share owing to increasing adoption of eHealth strategies by the European Union. For example, as of December 3, 2021, the eastern European countries are implementing legal acts to adopt to the national eHealth strategy. Armenia and Azerbaijan have approved roadmaps while Belarus and Georgia have approved concepts in different kinds of legal acts.

All the countries in the European Union recognize the need for dedicated eHealth strategy. Moldova and Ukraine are currently in the process of drafting phase of the eHealth strategies. While Ukraine is the only Eastern partner country that has a legal term of eHealth within the health care legislative framework, the rest of the Eastern partner countries have initiated eHealth legislation. Georgia has a separate EHR regulation and is planning to have an eHealth definition in the future and Azerbaijan has a digital roadmap where eHealth is mentioned. Thus, early adoption of eHealth in the Western Europe and strategic roadmap to implement eHealth strategies in the Eastern European countries is anticipated to increase the lucrativeness of patient portal market in the region during the forecast period.

The patient portal market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The growth of patient portal market in Asia-Pacific is anticipated to witness highest growth during the forecast period owing to increasing adoption of web-based platforms for accessing health records and increasing database development activities. The impetus provided by government bodies in the region is expected to fuel the patient portal market during the forecast period. For instance, in Japan citizens have legal rights to request medical records.

Apart from legal support from governments, increasing adoption of healthcare technologies by hospitals in the region is further driving the patient portal market. For instance, in March 2019, Huawei Technologies (China) signed a partnership agreement with Guangdong Provincial People’s Hospital for building a wireless healthcare hospital in China. This would be achieved by integrating 5G, internet of things, big data, artificial intelligence, and other technologies to provide accessible healthcare services and better patient-doctor relationships. Therefore, increasing adoption of the patient-centric approach, increasing collaborative activities by providers for efficient healthcare IT infrastructure, and increasing adoption of EHRs drive the patient portal market.

The patient portal market in Rest of the World has been divided into the Middle East, Africa and Latin America. Presence of software companies such as My Health Africa Group Limited (Kenya) and Helium Health (Nigeria), providers of digital healthcare products like Electronic Medical Records (EMR) and Hospital Management Information System is expected to propel the market growth during the forecast period.

Segmentation

The global patient portal market has been segmented based on type, delivery mode, and end user.

The market based on type has been bifurcated into standalone patient portals and integrated patient portals. The integrated patient portals segment is likely to hold maximum market share in the global patient portal market owing to capability to integrate on existing EHRs and EMRs.

The patient portal market based on delivery mode has been bifurcated into web-based and cloud-based delivery. The web-based delivery segment is likely to hold the largest share in the market due to large number of healthcare providers being accustomed to integrated web-based patient portals.

The patient portal market based on end user has been segmented into providers, payers, pharmacies and others. Providers include hospitals, ambulatory care centers, home healthcare agencies, nursing homes, diagnostic & imaging centers, and physicians. The others segment comprises of employer groups and government bodies. The providers’ segment is likely to hold the largest share in the market due to large number of healthcare providers adopting to healthcare technologies for better practice management.

Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/patient-portal-market-10748

Key Players

Some of the key players in the global patient portal market are Allscripts Healthcare Solutions, Inc. (US), McKesson Corporation (US), Athenahealth (US), Cerner Corporation (US), eClinicalWorks (US), CureMD (US), NextGen Healthcare Information Systems, LLC (US), Greenway Health, LLC (US), Medfusion (US), Epic Corporation Inc. (China), and GE Healthcare (US) among others.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.

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