The Patient Portal Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Patient Portal Global Market Report 2024, The patient portal market size has grown exponentially in recent years. It will grow from $4.45 billion in 2023 to $5.34 billion in 2024 at a compound annual growth rate (CAGR) of 20.1%. The growth in the historic period can be attributed to growing demand for patient engagement and self-service healthcare, regulatory incentives promoting the adoption of electronic health records (ehrs), increased focus on healthcare interoperability and data exchange, improved internet and mobile device penetration, aging population and rising chronic disease burden..
The patient portal market size is expected to see exponential growth in the next few years. It will grow to $11.14 billion in 2028 at a compound annual growth rate (CAGR) of 20.2%. The growth in the forecast period can be attributed to integration of ai and chatbots for patient interactions, expansion of telehealth services, continued regulatory support and incentives, increasing emphasis on value-based care, adoption of blockchain for data security.. Major trends in the forecast period include personalized healthcare experiences, wearable and iot integration with patient portals, predictive analytics for disease prevention, consolidation in the patient portal market, focus on patient education and wellness..
The increase in demand for electronic health records is expected to propel the growth of the patient portal market going forward. The electronic health record refers to a systematic collection of real-time data of patients in digital format by physicians or hospitals, whose information is instantly and securely available by authorised users. Electronic health record (EHR) patient portals provide a means by which patients will access their health information, including diagnostic test results. For instance, in 2021, according to National Coordinator for Health Information Technology (ONC), an entity within the U.S Department of Health and Human Services (HHS) data, approximately 86% of non-Federal general acute care hospitals’ physicians have adopted electronic health records to treat patients. Therefore, the increasing demand for electronic health records is driving the growth of the patient portal market.
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The patient portal market covered in this report is segmented –
1) By Type: Standalone Patient Portals, Integrated Patient Portals
2) By Deployment Mode: On-Premise, Cloud-Based
3) By End-Users: Providers, Payers, Pharmacies, Other End-Users (Employer Groups and Government Bodies)
Product innovation is a key trend gaining popularity in the patient portal market. Major companies operating in the patient portal sector are focused on developing new product innovation solutions to strengthen their position. For instance, in 2021, McKesson, a US-based healthcare company that provides patient portals, launched ScriptPASTM, a pharmacy management solution for oncology practises powered by Biologics by McKesson specialty pharmacy. ScriptPASTM is a fee-for-service offering designed to help Medically Integrated Dispensing (MID)-equipped practises provide quicker access to care by reducing barriers that delay treatment. This has been accomplished by providing support with benefits investigation, prior authorization, and financial assistance.
The patient portal market report table of contents includes:
- Executive Summary
- Patient Portal Market Characteristics
- Patient Portal Market Trends And Strategies
- Patient Portal Market – Macro Economic Scenario
- Global Patient Portal Market Size and Growth
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- Global Patient Portal Market Competitive Benchmarking
- Global Patient Portal Market Competitive Dashboard
- Key Mergers And Acquisitions In The Patient Portal Market
- Patient Portal Market Future Outlook and Potential Analysis
- Appendix
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