Patient Portal Market With 20.1% CAGR, Predicted to Generate USD 21.9 Billion In Revenues By 2033

A recent study by Market.us projects that Patient Portal market, which was valued at USD 3.5 Billion in 2023, is anticipated to expand to an impressive USD 21.9 Billion by 2033. This growth trajectory, marked by a CAGR of 20.1%, spans the forecast period from 2024 to 2033.

New York, Dec. 12, 2023 (GLOBE NEWSWIRE) — According to a recent report by Market.us, the Global Patient Portal Market size is expected to be worth around USD 21.9 Billion by 2033 from USD 3.5 Billion in 2023, growing at a CAGR of 20.1% during the forecast period from 2024 to 2033.

The patient portal is a secure online platform used by clinics, hospitals, patients, and doctors for communication between healthcare providers and themselves. Patients can easily authorize access to their health information with this platform acting as an electronic health record and providing seamless interaction. Users need to create an account on this portal and set a password to protect their data against unintended access by third parties.

The global patient portals market has witnessed exponential growth due to increasing incidences of chronic illnesses, the proliferation of big data and health IT tools, an influx of government initiatives, and an escalation in hospital enrolments. Yet market expansion also faces obstacles like limited awareness about these software solutions in emerging nations as well as concerns regarding data privacy issues.

Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View a PDF sample report @ https://market.us/report/patient-portal-market/request-sample/

Key Takeaway

• Market Size & Growth: Patient Portal Market size is expected to be worth around USD 21.9 Billion by 2033 from USD 3.5 Billion in 2023, growing at a CAGR of 20.1%.
• Type Analysis: In 2023, the Integrated portal accounted for 59% of the total revenue.
• Delivery Mode Analysis: The market’s largest share was held by the web-based segment, which held 66.3% in 2023.
• End-Use Analysis: In 2023, the provider’s segment was dominant by 52.8% and will continue to grow rapidly over the forecast period.
• Regional Analysis: North America was the dominant market, with 42.6% and holding a USD 1.5 Billion value for the Patient Portal market in 2023.
• Drivers of Growth: The market’s expansion can be attributed to factors such as the rising incidence of chronic diseases, the adoption of big data analytics and health IT tools, and strategic initiatives taken by governments.
• Challenges: Limited awareness in emerging nations and concerns over data privacy pose impediments to market growth.

Factors affecting the growth of the Patient Portal industry

Various factors influence the growth of the patient portal market are;

• Prevalence of Chronic Diseases: With more and more people suffering from chronic diseases, patient portals have become essential tools for managing and monitoring their health.
• Adopting Big Data and Health IT Tools: As big data analytics and health IT tools gain more widespread adoption, their increasing acceptance bolsters both patient portal capabilities and appeal.
• Government Initiatives: Implementation of strategic initiatives undertaken by governments aimed at strengthening healthcare infrastructure and services is also instrumental in expanding patient portal usage.
• Rising Hospitals and Clinics: With more hospitals and clinics adopting patient portals for improved communication and information access, market growth can only accelerate further.

Competitive Landscape

• Allscripts Healthcare Solutions, Inc.
• athenahealth, Inc.
• Epic Systems Corporation
• McKesson Corporation
• Cerner Corporation
• GE Healthcare
• Medfusion Inc.
• NextGen Healthcare Information Systems
• Greenway Health, LLC

To understand how our report can make a difference to your business strategy, Inquire about a brochure at https://market.us/report/patient-portal-market/#inquiry

Regional Analysis

North America claimed 42.6% market share with a USD 1.5 billion market value for Patient Portal sector sales in 2023. This success can be attributed to advances in healthcare IT; specifically, the successful integration of this technology into healthcare systems like Canada and the United States thus expanding market potential.

The United States, home to over 130 million citizens living with at least one chronic condition, faces an immense health challenge; chronic illnesses are responsible for approximately 70% of annual deaths. Given their wide prevalence, managing multiple comorbidities becomes an overwhelming task requiring patient portal systems as North America shifts from volume-based reimbursement models toward value-based reimbursement models.

Scope of the Report

Market Drivers

Technological advancements enable seamless integration of IT solutions into healthcare systems – particularly successful in North America including Canada and the US, propelling this market by improving accessibility, communication, and overall efficiency when managing patient data.

Market Restraints

An important trend driving the Patient Portal Market is its industry-wide shift away from volume-based to value-based reimbursement models. As healthcare systems prioritize quality over quantity of services provided, patient portal systems become increasingly influential as an essential means for coordinated care delivery, patient engagement, and outcome measurement-aligning perfectly with today’s evolving reimbursement landscape.

Market Opportunities

Chronic conditions affect over 130 million Americans, providing the Patient Portal Market with an enormous opportunity. Chronic conditions contribute significantly to healthcare challenges and costs; patient portals provide tools that aid better management, monitoring, and communication – thus creating an ideal setting for the growth and expansion of Patient Portal usage.

Immediate Delivery Available | Buy This Premium Research Report https://market.us/purchase-report/?report_id=27788

Report Segmentation of the Patient Portal Market

Type Analysis

In 2023, integrated portals contributed 59% of total revenue. Their success lies in offering comprehensive solutions that were not only cost-effective and time-efficient but also included multiple functionalities. Integrative portals offer a convenient approach, facilitating the creation of customized systems that effectively connect patient information with healthcare provider needs. Future advancements can be anticipated with research initiatives focused on creating pre-integrated Electronic Health Record (EHR) peripherals as a driving force for change. EMR/EHRs with integrated patient portals as modular components offer flexible options for integration into any existing healthcare IT system.

Delivery Mode Analysis

In 2023, web-based software had the highest market share at 66.3%. Web-based solutions offer several advantages over traditional solutions, including quicker implementation time, no hardware investments required for implementation, and automatic updates with low initial investments. They can even be installed directly onto user sites by third parties for management – unlike traditional solutions which must be managed internally before deployment by providers who typically charge annual or monthly usage fees.

End-User Analysis

In 2023, providers held a 52.8% market share, and its growth is anticipated to accelerate over time. According to ONC research, more than 90% of hospitals provide access to patient medical records with 72% offering users the ability to download or transmit all available records – fuelling this significant expansion by patient portal adoption among healthcare providers.

Recent Developments in the Patient Portal Market

• June 2023: Allscripts acquired HealthGrid, a cloud-based patient engagement platform, to enhance its patient portal offerings and improve data exchange capabilities.
• August 2023: athenahealth released a new patient portal API that allows third-party developers to integrate with its platform, expanding functionality and customization options.
• September 2023: Epic announced a partnership with Apple to integrate the Apple Watch with its patient portal, allowing patients to track their health data and receive notifications about appointments and medication refills.
• November 2023: McKesson acquired RelayHealth, a patient engagement platform, to strengthen its patient portal offerings and expand its reach in the market.
• December 2023: Cerner partnered with IBM to integrate the Watson AI platform into its patient portal, allowing for personalized patient engagement and recommendations.

Market.us has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View a PDF sample report @ https://market.us/report/patient-portal-market/request-sample/

Market Segmentation

Type

• Standalone
• Integrated

Delivery Mode

• Web-based
• Cloud-based

End-Use

• Providers
• Payers
• Others

By Geography

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Browse More Related Reports

• Quantum Computing in Healthcare Market was valued at USD 59.6 Million, it is estimated to reach USD 1,897.5 Million in 2032
• Remote Patient Monitoring Software and services Market size is expected to be worth around USD 78.4 Billion by 2032 from USD 6.7 Billion in 2022
• Patient Engagement Solutions Market size is expected to be worth around USD 113.4 billion by 2033, from USD 20.6 billion in 2023
• Teleradiology Market Size is anticipated to reach approximately USD 10.1 Billion by the year 2033, up from USD 2.9 Billion in 2023
• ePharmacy Market size is anticipated to reach approximately USD 258.6 billion by the year 2033, exhibiting substantial growth from USD 72.9 billion in 2023
• Healthcare Information Systems Market Size is projected to see significant growth, with an anticipated value of approximately USD 1658.1 billion by 2033, compared to its 2023 value of USD 463.3 billion
• Blockchain Technology In The Healthcare Market was valued at USD 1,200 million in 2022. It is projected to grow at a compound annual rate (CAGR of 65%) between 2023

 About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us on LinkedIn

Our Blog: 

• https://medicalmarketreport.com/
• https://chemicalmarketreports.com/
• https://techmarketreports.com/

CONTACT: Global Business Development Team – Market.us
Market.us (Powered By Prudour Pvt. Ltd.)
Email: inquiry@market.us
Address: 420 Lexington Avenue, Suite 300,
New York City, NY 10170, United States
Tel: +1 718 618 4351
Website: https://market.us/