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Technological Advancements in Healthcare are driving the growth of the eHealth Market

HYDERABAD, TELANGANA, INDIA, February 13, 2023 /EINPresswire.com/ -- eHealth Market size is forecast to reach $201.36 billion by 2025, growing at a CAGR of 23.35% during the forecast period 2019-2025. Increasing adoption of smartphones and IOT-enabled devices by medical practitioners and rising developments in healthcare IT along with favorable government regulations are the major factors driving the growth of the market. The high prevalence of chronic diseases and the growing need to manage regulatory compliance through the use of eHealth solutions will further enhance the overall market demand for eHealth systems during the forecast period.

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Key Takeaways

1. North America dominates the eHealth Market owing to high technological adoption and favorable government initiatives for the healthcare industry.

2. Increasing penetration of smartphones and smart wearable devices and initiatives by government organizations and healthcare communities to create awareness about the use of eHealth is likely to aid in the market growth of eHealth.

3. Detailed analysis of the Strength, weaknesses, and opportunities of the prominent players operating in the market will be provided in the eHealth market report.

5. High capital costs along with the installation of advanced systems in developing countries will create hurdles for the eHealth market

Segment Analysis

1. Electronic Health Records (EHR) held the largest share of the eHealth market in 2018 and will grow at a CAGR of 16.7% during the forecast period 2019-2025. This is mainly owing to the factors such as the growing adoption rate of EHR by many developed and developing countries. EHR also improves the quality of treatment and provides healthcare providers with flexibility in terms of quick access to patient records, better decision support, medical monitoring, and quality reporting in real time. Therefore, these benefits contributed to EHR's worldwide growth.

2. Remote monitoring services hold a major share in the eHealth market in 2018 and is estimated to grow at a CAGR of 11.3% during the forecast period 2019-2025. A high preference for home healthcare and rehabilitation due to convenience services can be attributed to the growth of the segment. The increasing geriatric population and rising prevalence of chronic diseases are also factors that are helping in the growth of the market.

3. North America dominated the eHealth market with a share of more than 42.3%, followed by Europe. High technological IT infrastructure along with favorable government initiatives from American Health Information Community (AHIC) are some of the factors driving the growth of the market. Implementation of the HITECH Act and HIPAA Act and the promotion of the use of electronic health data will foster the market growth in the region. However, Asia-Pacific is estimated to grow at a higher CAGR during the forecast period.

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Competitive Landscape:

The top 5 players in the Smart Shoes Industry are -

1. Allscripts
2. Athenahealth
3. Epic Systems
4. IBM
5. GE Healthcare

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