Patient Portal Market Size, Share, Opportunities, And Trends By Type (Standalone, Integrated), By Delivery Mode (Web-Based, Cloud-Based), By End-User (Providers, Payers, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Aug 2023
- Report Code : KSI061616033
- Pages : 144
Throughout the projection period, it is predicted that the patient portal market would grow rapidly. Patient portals are software programs that offer 24/7, safe access to patient's electronic health records. Additionally, patients may schedule appointments, request prescription refills, and send their doctors' encrypted communications. Patient portals can elevate the level of care that each person receives and promote patient involvement in their treatment. The growing convenience and ease of use of patient portals will fuel the patient portal industry.
Opportunities for the patient portal market to increase
Healthcare organisations are using patient portals more often, which is causing the patient portal market to grow. The growing need for Electronic Health Records (EHR) and mandated government laws are further factors contributing to the growing usage of patient portals. Users may keep or retrieve critical information via portals in the form of mobile or web-based applications. Growth drivers behind the patient portal market growth include the rise in the use of mobile-based health platforms, and the expansion of government assistance in the form of policies, laws, and regulations that encourage economic growth.
The need for Electronic Health Records (EHRs) is growing
The patient portal market is expanding as a result of increasing patient-centricity adoption by healthcare payers and rising EHR demand. EHRs are becoming more and more popular as the digitalization of the healthcare industry accelerates. As the government works on many projects to digitise the healthcare industry and standardise the rules and infrastructure for preserving medical information, the need for patient portals is increasing. Over the past few years, the development of independent personal EHRs and subsequently connected patient portals has had a dramatic impact on patient involvement by giving patients access to unprecedented amounts of health data and tools for managing their health.
Technological advancements in the patient portal market
Hospitals in developing nations that are implementing cutting-edge medical technology are leading the patient portal industry. In addition to other innovations, the Internet of Things (IoT), Artificial Intelligence (AI), and big data are being utilised to do this, enhancing patient-physician interactions and providing affordable healthcare services. However, concerns about data security and privacy and the high cost of adopting and implementing these technologies are major concerns and therefore businesses are focusing on data security. The patient portal market is also being driven by hospitals in emerging countries adopting cutting-edge medical technologies.
Patient data is easily accessible on smartphones and wearables
Several ways to access patient portals have surfaced in recent years. Although using a computer is the most common method of accessing a patient portal, some users also utilise cell phones. Application Programming Interfaces (APIs) that are safe and accepted by the industry must be implemented by certain licenced health IT developers to comply with the 21st Century Cures Act. This regulation requires users to have access to and control over their medical records via a smartphone health app of their choice further fueling the patient portal market growth.
Increasing Patient Engagement and Cutting Costs for Healthcare Professionals
The implementation of big data approaches to enhance the quality of healthcare delivery has become unavoidable due to the expanding volume of data in the healthcare sector. Portals are bringing patient-physician interaction closer than ever and offering patients additional opportunities to engage with their doctors. Patient engagement and satisfaction might rise as a result of this two-way communication between patients and physicians. The growth of the patient portal industry helps healthcare providers cut back on administrative expenses.
Increasing use of integrated portals
The necessity to create a unique, specialised solution to fill the gap between physician requirements and patient information is eliminated by integrated portals. Research initiatives concentrating on the creation of add-ons for integrated EHRs are also projected to stimulate patient portal market growth. Any other healthcare IT system or current EMR/EHR can be extended to include an EMR/EHR with linked patient portals.
These systems also provide users with a single interface for carrying out various business tasks. Since they provide a comprehensive solution, they are less costly, more well-liked, and in great demand.
Web-based applications augmenting patient portals
The web-based patient portal is anticipated to have the largest patient portal market share. The advantages provided by this software, such as quicker implementation times, no extra hardware investment required, automated software upgrades, and inexpensive initial expenditure, can be credited to the patient portal market growth. Web-based software vendors often charge a usage-based yearly or monthly subscription. Web-based software has several benefits, including cost, a quick return on investment, and simplicity of implementation.
The North American patient portal market is projected to propel
North America is predicted to be the largest patient portal industry shareholder owing to developments in healthcare IT. In developed nations like the United States and Canada, IT technology has been effectively implemented into healthcare systems, which might foster business growth. A huge number of people die in the US as a result of these illnesses each year. Comorbidity management has become challenging because of the magnitude of the target population in the region. The shift from volume-based to value-based remuneration is also increasing the need for patient portal systems in North America upsurging the expansion.
Market Key Developments
- In March 2023, the Greenway Patient Portal solution came in second in the KLAS Independent Ambulatory Patient Portals 2023 survey.
- In November 2022, the first comprehensive patient engagement mobile app for behavioural health was released by Valant under the name MYIO. MYIO helps behavioural healthcare practises run more efficiently by removing the requirement for manual patient data entry into a variety of platforms.
- In November 2022, Highmark Health collaborated with Google Cloud and League to provide patients and members of their clinical team with more information and to construct its new member site and mobile app. The platform will leverage patient data to better guide patients throughout their treatment journeys.
- By Type
- By Delivery Mode
- By End-User
- By Geography
- North America
- United States
- South America
- United Kingdom
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. PATIENT PORTAL MARKET, BY TYPE
6. PATIENT PORTAL MARKET, BY DELIVERY MODE
7. PATIENT PORTAL MARKET, BY END-USER
8. PATIENT PORTAL MARKET, BY GEOGRAPHY
8.2. North America
8.2.1. United States
8.3. South America
8.4.1. United Kingdom
8.5. The Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Market Share Analysis
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.4. GE Healthcare
10.5. Tateeda Global
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