Patient Portal Market to Surpass 11.8 Billion by 2030 Drives Due to Rising Demand for EHRs
SkyQuest projects that the patient portal market will attain a USD 11.8 billion value by 2030, with a CAGR of 19.4% over the forecast period (2023-2030). The increasing adoption of patient portals by healthcare facilities is a crucial driver of market growth. Healthcare organizations recognize the value of patient portals in enhancing communication, improving access to medical information, and engaging patients in their healthcare.
Westford, USA, June 28, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the patient portal market growth of electronic health records (EHRs) is being driven by two key factors: the rising demand for EHRs and the increasing adoption of a patient-centric approach by healthcare payers. EHRs are becoming increasingly popular as the healthcare industry continues transforming digitally. These digital systems enable the collection, storage, and exchange of patient health information in electronic format, offering numerous benefits such as improved data accessibility, enhanced care coordination, and reduced medical errors.
Browse in-depth TOC on “Patient Portal Market.”
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A patient portal is a web-based access point that connects with electronic health records (EHR) systems, primarily focusing on providing patients access to their health records. Through a patient portal, individuals can securely access and manage their personal health information. One of the critical features of patient portals is the ability for patients to share their health information with healthcare providers, facilitating remote communication and reducing the need for in-person visits.
Prominent Players in Patient Portal Market
- Allscripts Healthcare Solutions, Inc.
- Athenahealth, Inc.
- Cerner Corporation
- CureMD Healthcare
- eClinicalWorks LLC
- Epic Systems Corporation
- GE Healthcare
- Greenway Health LLC
- McKesson Corporation
- MEDHOST, Inc.
- Meditech
- NextGen Healthcare Information Systems, LLC
- NXGN Management, LLC
- Nextech Systems, LLC
- NueMD
- Optum, Inc.
- Practice Fusion, Inc.
- QSI Management, LLC
- RelayHealth Corporation
- WebPT Inc.
Web-Based Segment is Expected to Grow the Market Due to the Numerous Advantages Offered by Web-Based Patient Portal Software
The web-based segment of the patient portal market held a significant market share of 66%, establishing its dominance in the industry. This dominance can be attributed to the numerous advantages offered by web-based patient portal software. One key benefit is the provision of automatic software updates, ensuring that the portal remains up-to-date with the latest features and security enhancements without requiring additional effort from the user.
The market in North America emerged as the dominant market player, capturing a substantial share of 43.8% in the global patient portal market. This market dominance can be attributed to the region’s significant technological advancements in the healthcare sector. Countries such as the United States and Canada have successfully integrated IT technologies into their healthcare systems, which has led to improved patient care, enhanced operational efficiency, and streamlined healthcare processes.
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Cloud-Based Segment is Expected to Dominate the Market Due to the Comprehensive View of Patient Information
The cloud-based segment of the patient portal market is anticipated to experience significant growth. This growth can be attributed to several factors that make cloud-based portals attractive to healthcare companies. One key advantage is the real-time interaction facility provided by cloud-based solutions, allowing healthcare organizations to share and merge data from various systems seamlessly. This enhances collaboration and enables a comprehensive view of patient information, improving care coordination and better patient outcomes.
Regional markets in Europe are expected to secure a significant market position as the second dominant player in the global patient portal market. This can be attributed to the region’s increased focus on deploying healthcare IT and telehealth initiatives and the ongoing digitization of healthcare procedures. European countries have actively invested in healthcare IT infrastructure to enhance patient care, improve access to medical services, and streamline healthcare processes.
A comprehensive analysis of the major players in the patient portal market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Patient Portal Market
- Recently, a prominent collaboration took place between Epic Corporation and Orlando Health St. Cloud Hospital. The partnership aimed to integrate the electronic health records (EHR) system of Orlando Health St. Cloud Hospital with Epic’s MyChart patient portal. The MyChart portal, developed by Epic, empowers patients by providing convenient access to their test results, secure messaging with caregivers, appointment scheduling, payment execution, and prescription refill requests.
- Allscripts, a leading electronic health record (EHR) solutions provider, recently joined Medfusion to offer their clients the highly regarded Medfusion patient portal. This collaboration enables physician practices that utilize Allscripts EHR and practice management systems to benefit from the features and functionalities provided by the top-ranked Medfusion patient portal.
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Key Questions Answered in Patient Portal Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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