In a recently published report, E-health Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for E-health Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global E-health market is valued approximately at USD 56.6 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.8% over the forecast period 2020-2027. E-health comprises of managing healthcare organization with the assistance of information and communication technology (ICT). ICT has been broadly used in the type of telemedicine and medical health records. With telemedicine, it is feasible to electronically store the data related to patients, finance, and staff of the hospital. This has transformed the way of keeping healthcare data. Advancements in technology is anticipated to be the leading factor, boosting the growth of E-health market. The increasing use of Remote Health Monitoring Devices is an expansion of the digital transformation in healthcare, serving the pharmaceutical companies to increase clinical trial activities, empowering insurance companies to involve with the customers, and providing easy access of data for health consumers.
For instance, in 2019, Bayer introduced LifeHub UK to hasten and improve disease detection and records-driven drug detection by development of artificial-intelligence-assisted imaging solutions. Similarly, in 2019, Klinikum Stuttgart Hospital and Philips have contracted a 10-year novelty partnership agreement. It comprises the ordering of state-of-the-art medical technology and demand-oriented alternative, which includes the intelligent informatics solutions and diagnostic imaging, at the Klinikum Stuttgart hospitals, as well as the joint development of connected care solutions and new workflows. Additionally, Due to rising demand for remote data access and storage of data of the hospitals, players in this market are taking initiatives for their expansion in the market.
In January 2019, Cerner Corporation has partnered with ResMed. This partnership assisted in the improvement of the connection among home care and healthcare systems by the integration of the Hospice and Brightree Home Health proposal with Cerner’s Millennium EHR.
In October 2019, Allscripts signed an agreement with Northwell Health. This deal assisted the companies to mutually develop an advanced, AI-powered electronic health record. However, factors such as complication of advanced healthcare IT systems and the absence of user-friendliness, may impede the market growth over the forecast period of 2020-2027.
The regional analysis of the global E-health market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share due to beneficial regulatory scenario, excessive adoption of HCIT solutions in the region. Whereas Asia Pacific is also anticipated to exhibit the highest growth rate/CAGR over the forecast period 2020-2027, owing to government investments and reforms to improve healthcare systems in the region.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Application offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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By end user:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027.
Target Audience of the Global E-health market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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