The eHealth market is growing rapidly, is projected to reach $193.8 billion by 2025 from $69.5 billion in 2020, at a CAGR of 22.8%., with major players such as IBM, Allscripts, and GE Healthcare investing in the space. However, this market has also posed challenges for players such as Amazon and Google. In this market research insights into the new trends in the eHealth market, challenges that are being faced by the players in this market, and recommendations that can help them overcome these challenges.
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Challenge: Security concerns related to privacy, licensure, and data breaches
The healthcare industry is reluctant to adopt eHealth solutions primarily due to the potential regulatory apprehensions and legal liabilities. The electronic exchange of patient data offers greater reach and efficiency in healthcare delivery; however, issues related to data loss and liability due to broader access are associated with the electronic exchange of patient data.
Opportunity: Rising use of eHealth solutions in outpatient care facilities
In response to the rising pressures on health systems to lower the cost of care, a majority of healthcare organizations are focusing on introducing specialized outpatient services. The shift toward the outpatient care model is boosting the adoption of eHealth solutions, as these solutions provide a convenient way of care delivery. These solutions provide easier access to appointments and integration among care providers for holistic response toward care delivery.
Emerging Technologies in the eHealth Market
The eHealth market is growing rapidly and there are many new technologies being developed that could impact the market. Here are some of the most popular emerging technologies in the eHealth market and their potential impacts:
1. Blockchain technology: Blockchain technology is a distributed database that allows for secure, transparent and tamper-proof transactions. It could be used to track health data and create a trust network between patients, providers and insurers.
2. Virtual reality: Virtual reality technology can help people feel as if they are in another place or situation. This could be used to provide educational materials or therapies for mental health conditions, for example.
3. Augmented reality: Augmented reality overlays digital information on top of physical objects, enabling users to see information in a new way. This technology is being used to create tutorials and training materials for healthcare professionals, for example.
4. Machine learning: Machine learning is a type of artificial intelligence that allows computers to learn without being explicitly programmed. This technology could be used to identify patterns in patient data and improve the accuracy of healthcare decisions.
5. 5G networks: 5G networks are expected to offer faster speeds and more capacity than current networks. They could be
Mobile Health Applications in the eHealth Market
Mobile health applications (MHA) are gaining in popularity, especially as they become more integrated with electronic health record (EHR) systems. This is driving increased demand for MHA technology and services, which in turn is creating new challenges and opportunities for the eHealth market.
North America dominates the overall market based on region. This can be attributed to the rising geriatric population. Elderly population has comparatively weaker immunity and, therefore, is more susceptible to infections and other diseases. Furthermore, the regulatory scenario is quite stringent in the region that ensures the availability of defect-free eHealth solutions in the market that proves beneficial for market growth.
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The players in the eHealth market include Allscripts (US), athenahealth (US), Epic Systems (US), IBM (US), GE Healthcare (US), Cerner (US), Optum (US), Philips Healthcare (Netherlands), Siemens Healthineers (Germany), McKesson (US), Medtronic (Ireland), and Cisco Systems (US).
Mr. Aashish Mehra
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