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What is the Long-Term Projected Growth Rate for the eHealth Market, and What Are the Key Drivers?

In the past few years, the eHealth market has expanded tremendously. The market, which is expected to be $143.97 billion in 2024, is projected to escalate to $176.74 billion in 2025, with a CAGR of 22.8%. Factors such as higher internet accessibility, increasing utilization of smartphones, escalating healthcare expenses, governmental efforts, and the requirement for remote monitoring are contributing to the growth during the historical period.

The size of the eHealth market is anticipated to experience a significant expansion in the coming years. By 2029, it’s forecasted to increase to $397.81 billion, with a compound annual growth rate (CAGR) of 22.5%. Multiple factors responsible for this surge during the predicted period include the rise in chronic illnesses, an aging populace, a focus on individualized medicine, the expansion of remote patient supervision, and the use of AI in diagnostics. Key trends to look out for during this projection period are upscale telemedicine infrastructure, AI-driven diagnostics innovations, progress in digital health records, proliferation of intelligent medical apparatus, and heightened cybersecurity measures in eHealth.

Which Major Market Drivers Are Expected to Boost the eHealth Market’s Growth Potential?

The growth of the eHealth market appears to be propelled by the increasing use of telehealth. Essentially, telehealth refers to the application of digital communication technologies in offering remote healthcare services including medical education, monitoring, and consultations. Accessibility, convenience, cost-effectiveness, and technological advances spur the growing use of telehealth. These technologies enable patient monitoring, virtual consultations, and easy access to digital health records from remote locations, bolstering healthcare delivery efficiency through eHealth. For example, a Rock Health survey in February 2023 revealed that amongst 8,014 participants, 76% of those aged 55 or older had utilized telemedicine, and that 80% of all respondents admitted to accessing care via telemedicine at least once in their lifetime. This reflects an 8% increase from 72% in 2021. Hence, the expanding use of telehealth is a key driver in the growth of the eHealth market.

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Which Companies Are Leading the Charge in Expanding the eHealth Market?

Major companies operating in the ehealth market are UnitedHealth Group Incorporated, CVS Health Corporation, International Business Machines Corporation (IBM), Cisco Systems Inc., Medtronic plc, Siemens Healthineers AG, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Epic Systems Corporation, Teladoc Health Inc., Veradigm LLC, athenahealth Inc., CompuGroup Medical SE & Co. KGaA, Hims & Hers Health Inc., American Well Corporation, Epocrates LLC, eHealth Technologies Inc., Medisafe Ltd., Oracle Health, iCliniq.

What New Trends Are Reshaping the eHealth Market and Its Opportunities?

Essential corporations in the eHealth trade are concentrating their efforts on creating groundbreaking items like electronic medical record (EMR) systems which bolster patient data control, elevate the efficiency of healthcare, and simplify clinical procedures. An EMR system is a digital setup where patients’ medical histories, diagnoses, treatments, and overall healthcare information are stored, managed, and retrieved within a healthcare institution. For example, eHealth Solutions Ltd, a British healthcare IT firm, came forward with EMRpro, an inventive EMR system explicitly constructed for privately run healthcare establishments in April 2024. This cutting-edge healthcare IT solution is designed to transform clinical efficacy and handling of patients. It is unique in that it incorporates sophisticated features to simplify medical procedures and enhance the delivery of healthcare. Unlike the conventional EMR systems, EMRpro values clinical functionality over bureaucratic duties. With its contemporary, cloud-based framework, EMRpro has established a fresh standard in healthcare technology.

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What Major Market Segments Define the Scope and Growth of the eHealth Market?

The ehealth market covered in this report is segmented –

1) By Type: eHealth Solutions, eHealth Services

2) By Component: Electronic Health Records, e-Prescribing, Clinical Decision Support Systems, Telemedicine, Other Components

3) By Deployment: On-premise, Cloud-based

4) By End User: Healthcare Providers, Payers, Healthcare Consumers, Other End-Users

Subsegments:

1) By eHealth Solutions: Electronic Health Records (EHR), Telemedicine And Telehealth Solutions, Health Information Systems (HIS), Mobile Health Applications (mHealth), Remote Monitoring Solutions

2) By eHealth Services: Telemedicine Services, eConsultation And Virtual Care, Health Data Analytics Services, Health IT Support Services, eHealth Consulting Services

What Are the Top Regions Fueling Growth in the eHealth Market?

North America was the largest region in the eHealth market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ehealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Is the eHealth Market Defined Across Different Regions?

eHealth (electronic health) refers to the use of digital technologies and electronic systems to manage healthcare services and information. It enhances communication, efficiency, and accessibility in healthcare delivery. eHealth includes digital solutions for patient care, administration, and decision-making. It supports healthcare providers, consumers, and stakeholders in improving health outcomes.

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