Patient Portal Market - Growth, Trends, and Forecast (2020 - 2025)
The increasing growth of the patient portal market has been observed due to the adoption of the patient-centric approach by healthcare payers and increasing demand for electronic health records (EHR) in the market. The current market is also growing as the government is undertaking various initiatives for the patient portals that generally focus on laying down the standards, regulations, and infrastructure for maintaining health records, which may lead to an increase in the demand for patient portal.
The increasing aging population and rise in chronic diseases are putting relentless pressure on the capacity and financial viability of healthcare systems. Healthcare technology, genomics, connected devices, big data analytics, and artificial intelligence are generating vast amounts of health data and insights, which are enabling healthcare providers to make better and faster diagnoses and more informed treatment decisions. These help in transforming the healthcare marketplace from a provider-driven ecosystem to a patient-centric ecosystem. Therefore, increasing adoption of the patient-centric approach by healthcare payers and providers is driving the growth of the patient portal market.
The growth of the patient portal market is also due to the increasing geriatric population and the increasing incidence of osteoarthritis disease. The increasing prevalence of osteoarthritis and the introduction of innovative technologies for the treatment of osteoarthritis are found to be the primary factors that are expected to be responsible for the growth of the patient portal market during the forecast period.
The market is also experiencing growth as a result of the increase in demand for EHR (electronic health records), as they have become increasingly more important for patients and providers. EHR systems are becoming increasingly popular as the healthcare industry is moving toward digitization. There are several government initiatives that generally focus on laying down the standards, regulations, and infrastructure for maintaining health records, which may lead to an increase in the demand for patient portals.
Key Market Trends
Integrated Patient Portal Holds the Largest Share in the Portal Segment
- An integrated patient portal is integrated into the existing website and healthcare IT infrastructure of a healthcare provider, without creating another portal, unlike a standalone patient portal.
- The modernization of operations and approaches, by utilizing technology solutions, such as patient portals and analytical sources, improves the efficiency of healthcare organizations and facilities.
- An integrated patient portal is a web-based access point that allows healthcare providers and patients to communicate and share health-related information remotely, supplementing the ongoing management of patient care. Patient portals are the key technology platforms that enable patient engagement. They can also be accessed through cloud services.
- Various healthcare-related entities, including hospitals, physician practices, healthcare payers, health information exchange organizations, and retail pharmacies, deploy integrated patient portals.
North America was Observed to be the Largest Patient Portal Market
- North America has been the largest patient portal market due to wide technological advancements in the region. Countries, such as the United States and Canada, have been successful in implementing IT technologies in their healthcare systems, which as a result, may boost the market growth.
- Moreover, the presence of developed IT and healthcare infrastructure, promising government initiatives to give patients access to their healthcare data at any time anywhere via the patient portal and in the current healthcare infrastructure, and constantly improving reimbursement scenario are expected to further propel the market growth.
In the coming years few other players are expected to enter into the market. Several companies are currently developing patient portals for easing the access to patients. For instance, recently, in August 2019, IQVIA, a contract research and technology solutions group, developed the IQVIA Patient Portal, a global web-based solution, which is built on a leading health cloud platform. This tool is helpful in increasing patient recruitment, engagement, and retention before, during, and after a clinical study.
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- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Increased Adoption of Patient-centric Approach by Healthcare Payers
- 4.2.2 Increase in the Demand for Electronic Health Records (EHRs)
- 4.2.3 Favorable Government Funding Policies and Initiatives for Implementing Healthcare IT Solutions
- 4.3 Market Restraints
- 4.3.1 Data Privacy and Security Concerns
- 4.3.2 High Cost of Implementation and Deployment
- 4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Portal
- 5.1.1 Integrated Patient Portal
- 5.1.2 Standalone Patient Portal
- 5.2 By Deployment Mode
- 5.2.1 Cloud-based
- 5.2.2 On-Premise
- 5.3 By End User
- 5.3.1 Hospitals and Clinics
- 5.3.2 Pharmacies
- 5.3.3 Other End Users
- 5.4 Geography
- 5.4.1 North America
- 126.96.36.199 United States
- 188.8.131.52 Canada
- 184.108.40.206 Mexico
- 5.4.2 Europe
- 220.127.116.11 Germany
- 18.104.22.168 United States
- 22.214.171.124 France
- 126.96.36.199 Italy
- 188.8.131.52 Spain
- 184.108.40.206 Rest of Europe
- 5.4.3 Asia-Pacific
- 220.127.116.11 China
- 18.104.22.168 Japan
- 22.214.171.124 India
- 126.96.36.199 Australia
- 188.8.131.52 South Korea
- 184.108.40.206 Rest of Asia-Pacific
- 5.4.4 Middle East & Africa
- 220.127.116.11 GCC
- 18.104.22.168 South Africa
- 22.214.171.124 Rest of Middle East & Africa
- 5.4.5 South America
- 126.96.36.199 Brazil
- 188.8.131.52 Argentina
- 184.108.40.206 Rest of South America
- 6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Allscripts Healthcare Solutions Inc.
- 6.1.2 Mckesson Corporation
- 6.1.3 Curemd Healthcare
- 6.1.4 Athenahealth Inc.
- 6.1.5 Cerner Corporation
- 6.1.6 Nextgen Healthcare Information Systems LLC
- 6.1.7 GE Healthcare
- 6.1.8 Greenway Health LLC
- 6.1.9 Medfusion Inc.
- 6.1.10 Eclinicalworks LLC
- 7 MARKET OPPORTUNITIES AND FUTURE TRENDS