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The patient portal market is anticipated to grow rapidly, from $4.45 billion in 2023 to $5.34 billion in 2024, reflecting a CAGR of 20.1%. This growth is driven by the increasing demand for patient engagement, regulatory incentives for electronic health records (EHRs), improved healthcare interoperability, and the aging population's needs.
How Big Is the Global Patient Portal Market Expected to Grow, and What Is Its Annual Growth Rate?
The market is projected to experience exponential growth, reaching $11.14 billion by 2028 at a CAGR of 20.2%. This growth is attributed to the integration of AI and chatbots, the expansion of telehealth, and continued regulatory incentives. Key trends include personalized healthcare experiences, predictive analytics, wearable integrations, and blockchain for data security.
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What Is Driving the Growth of the Patient Portal Market?
The increasing adoption of electronic health records (EHRs) is driving growth in the market. EHRs allow patients to access their health information digitally, improving convenience and care. In 2021, 86% of U.S. hospitals adopted EHR systems, boosting the demand for patient portal solutions.
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Which Leading Companies Are Driving The Growth Of The Patient Portal Market Share?
Major companies operating in the market include Allscripts Healthcare Solutions Inc., McKesson Corporation, athenahealth Inc., Cerner Corporation, eClinicalWorks, CureMD Healthcare, NextGen Healthcare Information Systems LLC, Greenway Health LLC, Medfusion Inc., Epic Systems Corporation Inc., GE HealthCare Technologies Inc., InteliChart, QSI Management LLC, Optum Inc., ZH Healthcare Inc., Oracle Corporation, Advanced Data Systems Corporation, Nextech Systems LLC, AdvancedMD Inc., Kareo Inc., CareCloud Corporation, eMDs Inc., Meditech, Medhost Inc., Napier Healthcare Solutions Pte. Ltd., RelayHealth Corp., Kryptiq Corporation, Nuesoft Technologies Inc., Zocdoc Inc., Medseek GmbH
What Are The Key Trends Driving The Growth Of The Patient Portal Market Size?
Companies in the market are developing innovative patient-focused tools to meet consumer needs. These tools, digital or non-digital, aim to improve the patient experience by supporting personalized treatment. For example, in February 2023, MedStar Health, a US-based nonprofit healthcare system, introduced a patient-focused tool that offers easy appointment scheduling, reminders, and access to care through smart devices. This tool enhances patient experience by providing better access to primary, urgent, and telehealth care services, helping patients manage their health more effectively.
How Is the Global Patient Portal Market Segmented?
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)
North America: The Leading Region in the Patient Portal Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the patient report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Is the Patient Portal Market?
Patient portal is an online website service opted for by hospitals that gives patients easy access to health information such as recent doctor visits, prescription refills, medications, discharge summaries, and others. It is used to provide 24/7 access about the healthcare data to the patients.
The Patient Portal Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Patient Portal Market Report: Trends, Opportunities, Strategies, and More
The Patient Portal Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into patient portal market size, patient portal market drivers and trends, patient portal market major players, patient portal competitors' revenues, patient portal market positioning, and patient portal market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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