Global e-Health Market is to hit a value of $ 195.58 billion by 2022-Market dat

Posted by rohan on March 16th, 2018

Global e-Health Market was worth $ 98.09 billion in 2016 and estimated to be growing at a CAGR of 14.80 %, to reach $ 195.58 billion by 2021. e-Health, though has had many definitions, however, can broadly defined as integration of information technology and electronic communication in the healthcare sector in order to make it more simple, accessible and inexpensive. e-Health is applied for cutting on administrative costs associated with the treatment and technological advancements ranging from transmission of clinical data to electronic health records.

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With the application of Information & Communication Technology (ICT) in healthcare, everyone can get access to proper healthcare facilities. An infrastructural support with better internet connections and electronic systems are required for ICT to be put into full-fledged use. The gradual shift to digital healthcare system for analysis and management of patient health has resulted in the rapid growth of this market. Increasing cases of chronic diseases, and technological developments in this field are supporting this growth. e-Health solutions have the ability to provide cost-effective healthcare services, research, public health, and health-related activities.

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Information & Communication Technologies (ICT) have endless potential, especially in the healthcare system. Practical application and advancement in ICT, ever-increasing number of mobile and internet users, miniaturization and decreasing costs of sensors and other devices are some of the key drivers of this market. Growing demand for population health management and the necessity to cut healthcare expenses has led to rising demand for e-Health solutions across the world. Technological advancements and subsequent developments giving rise to various sub-segments of this market such as mobile health are also expected to impact the global e-health market growth positively over the next few years. However, fraudulent activities, usability problems, privacy and security concerns, among others, are factors that restrain the growth of the e-Health market. Interoperability is also a significant challenge for the growth of this industry and if not dealt properly soon, the whole purpose of implementing e-health would be defeated.

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Based on types, e-Health Market is segmented into Telemedicine, Consumer, Information System, EHR, ePrescribing, Health Information, mHealth, Health Management and Clinical Decision Support. By services, they have been segmented into Administrative, Diagnostic, Monitoring, Financial. These services have been sub-segmented further. Based on end-users, the market is segmented into Healthcare Consumers, Providers, Government, Insurers. Futhermore, based on geography the market is segmented into various regions namely North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is expected to dominate the market in the next few years. Presence of digitally maintained population base and various initiatives by the American Health Information Community are expected to be the drivers of this growth.

Some of the major players in the e-Health market are Boston Scientific Corp., IBM, Motion Computing Inc., GE Healthcare, Epocrates Inc., Telecare Corp., CompuMed, Medisafe, Set Point Medical, Doximity, Lift Labs, Proteus Digital Health and Apple.

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