E-Health Market |Share, Size, Growth| (2023

GLOBAL E-HEALTH MARKET (2023 - 2030)

As per our research report, the global e-Health market size is estimated to be growing at a CAGR of 19.2% from 2023 to 2030.

The COVID-19 pandemic has played a major role in the increase of the e-health market. Due to the imposed lockdowns, people had been cooped up inside their homes. Because of this, physical health measures could not be accessed. This resulted in a rise in the e-health market. It became very beneficial as people could access it directly from their homes. It was also very convenient during the pandemic as it did require contact with other people. The virus that caused the pandemic was extremely contagious in nature due to which people were advised to stay inside and avoid contact as much as necessary. The e-health market is expected to also grow during the forecast period of 2023-2030.

With the developments in technology, people are starting to lead more and more physically relaxing lives. The stress of running around getting tasks done has decreased significantly because everything can be done virtually or on the phone. The internet also has been a major boon for this. But because of this people are suffering from more diseases than ever. The stationary lifestyle is the cause of several critical and long-lasting diseases like hypertension, severe bone and muscle problems, and diseases like diabetes. Several of these require consistent care throughout the day. Many such diseases also require people to perform regular health check-ups and get their conditions monitored. Because of this, the e-health market has benefitted extremely. People that require regular or frequent attendance can easily access e-health solutions from the comfort of their homes. They don’t need to travel anywhere and this saves a lot of time and money in several cases. It’s also convenient for geriatric people because they need not need any external help to travel to a clinic.

Post-pandemic more and more people have become aware of their health and their issues. People have become more conscious about their health and they are taking significant steps towards taking care of themselves. This rise in awareness among people has been a major cause for the growth of the e-health market. As people take conscious steps towards their betterment, they require more health aids and in turn, the market rises. The technology has also developed a significant amount making it easier for people who are technologically challenged to access it as well.

The risks that come with data handling and major security concerns are the major factors that are restraining and hampering the market. To get the full benefits of e-health products people need to enter their data and personal information. If the data is not secured the risk of sensitive and private information being leaked is very high. Therefore data security is a major concern.

KEY MARKET INSIGHTS:

Based on the product type, the mHealth market held over 1/3^rd of the total market share making it the largest and most significant segment. This has been attributed to increasing demand for data protection and high-technology data services and demand for high-speed internet and more advanced technology. The EHR segment is likely to grow with the fastest CAGR relatively.

Based on the services, the monitoring segment held the largest market share and the diagnostic services segment was estimated to grow with the fastest CAGR. The monitoring segment held over 60% of the market share because of the need for constant monitoring of patients in critical care. More and more diagnostic solutions are to be required in the future which will help the growth of the diagnostic services segment.
Based on the end user, the healthcare providers segment held over half of the largest market share. This segment is also estimated to grow the fastest because of the increase in demand for healthcare providers and professionals across the market.
Based on the region, North America was the largest and the most dominant market sector owing to the rise in technological developments and the prevalent awareness amongst people. The Asia-Pacific market is expected to grow at the fastest rate because of the rise in awareness among the population about taking precautions regarding personal health and well-being.
Companies playing a leading role in the global e-Health market profiled in this report are Motion Computing Inc., Epocrates Inc., Telecare Corporation, Medisafe, SetPoint Medical, IBM, Doximity, Lift Lab, and Apple.

MARKET SEGMENTATION:

By Product