EHEALTH SOFTWARE AND SERVICES MARKET ANALYSIS

The global eHealth software and services market is estimated to be valued at US$ 293.9 Billion in 2023 and is expected to exhibit a CAGR of 11.8% during the forecast period (2023-2030).

Analysts’ Views on the Global eHealth Software and Services Market:

Increasing technological advancements by the key market players to develop new cloud-based enterprise imaging platforms are expected to drive the market growth over the forecast period. For instance, in November 2021, Siemens, a technology company, launched its new syngo Carbon enterprise IT platform, a cloud-based platform that includes image and data management, an image viewer, and a storage container to feed in enterprise data from all departments that will serve as an umbrella to allow a single access view for all patient data across an enterprise. Furthermore, the company stated that carbon is also optimized, and thus Artificial Intelligence (AI) functions can be added to enable predictive workflow and an array of new technology applications.

Figure 1. Global eHealth Software and Services Market Share (%), by Type, 2023

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Global eHealth Software and Services Market– Driver

Increasing prevalence of chronic disorders

The increasing prevalence of chronic diseases, such as cancer, that require the usage of radiological image tracking is expected to drive the market growth over the forecast period, as Radiology Information System (RIS) is used for tracking radiology imaging orders and billing information, and is often used along with Picture Archiving and Communication Systems (PACS) and Vendor Neutral Archives (VNAs) to manage image archives, record-keeping, and billing. For instance, in February 2021, according to a report published by Globocan, a worldwide database of cancer incidence and mortality rates, 19.3 million new cancer cases were reported in 2020 worldwide. Female breast cancer had surpassed lung cancer as the most commonly diagnosed cancer, with an estimated 2.3 million new cases globally in 2020, followed by lung cancer, colorectal, prostate, and stomach cancers.

Increasing inorganic growth strategies, such as agreements, by the market players

Increasing inorganic growth strategies, such as agreements, by the market players to establish their market presence is expected to foster the market growth over the forecast period. For instance, in January 2021, eHealth, Inc., an online health insurance company, announced that an affiliate of H.I.G. Capital, a leading global alternative investment firm, had entered into a binding agreement to invest US$ 225 million in eHealth, Inc. by purchasing convertible preferred stock. This agreement will further help the company in investing in the company's in-house telesales team, broadening its strategic partner channel, and increasing its member engagement and retention.

Figure 2. Global eHealth Software and Services Market Value (US$ million), by Region, 2023

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Global eHealth Software and Services Market- Regional Analysis

Among regions, North America is estimated to hold a dominant position in the global eHealth software and services market over the forecast period. This is attributed to the increasing inorganic growth strategies, such as partnerships, by market players. For instance, on March 3, 2023, Nextech, a U.S.-based provider of Electronic Medical Records (EHR) and Practice Management (PM) software for specialty practices, announced its integration partnership with DermPRO, a leading provider of managed e-commerce solutions for aesthetic practices in U.S.

Global eHealth Software and Services Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

eHealth is a crucial auxiliary medical service that can relieve the burden on the medical system, and improve access to health care. The COVID-19 pandemic has increased the usage of eHealth software and services. Thus, this is expected to have a positive impact on the global ehealth software and services market. For instance, according to the factsheet published by Eurohealth, a medical journal, in November 2022, the use of teleconsultation had increased in France during the COVID-19 pandemic, with a total of 19 million teleconsultations reimbursed in 2020

Global eHealth Software and Services Market Segmentation:

The global eHealth software and services market report is segmented into type, end user, and region.

Based on type, the global eHealth software and services market is segmented into eHealth software, (healthcare system applications, mhealth applications) (solutions for patients), eHealth Services (Tele-Health, mHealth). Out of which, eHealth Software segment is expected to dominate the global eHealth software and services market during the forecast period and this is due to increasing adoption of various growth strategies such as product launch by the market players.

Based on end user, the global eHealth software and services market is segmented into public/private healthcare institutions, physicians, healthcare workers, and individuals. The Public/Private healthcare institutions segment is expected to dominate the market over the forecast period and this is due to the increasing growth strategies such as partnership for eHealth software by public/private healthcare institutions.

Based on region, the global eHealth software and services market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, the North America segment is expected to dominate the market over the forecast period and this is due to the increasing inorganic growth strategies such as acquisition, partnership, etc.

Among all the segmentations, the type segment has the highest potential due to increasing government initiatives for eHealth services is expected to drive market growth over the forecast period. For instance, in August 2022, the Japanese Ministry of Health, Labor and Welfare selected four pilot sites for its e-prescription project.

Global eHealth Software and Services Market Cross Sectional Analysis:

Increasing inorganic growth strategies, such as acquisitions, between the key market players are driving the growth of the type segment in Europe. For instance, in August 2021, Ehave Corp., a healthcare company, acquired Moksha Digital Software Pvt. Ltd., a provider of medical imaging software and the creator of the U.S. Food and Drug Administration (FDA) certified CuriePACS and CurieRIS solutions. Radiologists, doctors, and surgeons employ CuriePACS and CurieRIS at hospitals and diagnostic centers all over the world.

Global eHealth Software and Services Market: Key Developments

On April 17, 2023,  Microsoft, a software company, and Epic, a software development company, announced that they are expanding their long-standing strategic collaboration to develop and integrate generative AI into healthcare by combining the scale and power of Azure OpenAI Service with Epic's Electronic Health Record (EHR) software. The collaboration expands the long-standing partnership, which includes enabling organizations to run Epic environments on the Microsoft Azure cloud platform.

In December 2022, Zebra Technologies, a healthcare technology company, announced that the company was voted as top software vendor across 24 categories in the Retail Information Systems (RIS) 2023 Software LeaderBoard

In November 2022, Konica Minolta Healthcare Americas, Inc., a healthcare technology company, announced that it is planning to make its premier cloud-based Exa Platform and Symmetry PACS accessible through the cloud as a Software as a Service (SaaS) model

In March 2022,  Intelerad Medical Systems, a leading medical system imaging management company, unveiled its Enterprise Imaging and Informatics Suite at the HIMSS Global Health Conference and Exhibition. This new offering presents radiologists with a cutting-edge solutions for managing medical images.

In February 2022, ScImage, Inc., a leading provider of cloud-centric enterprise imaging and reporting solutions, announced the launch of its PICOM365 enterprise imaging workflow. This PICOM365 delivers full functioning capabilities of on-premises PACS software solutions and is powered by Microsoft Azure Cloud.

In February 2022, Carestream Health India, a medical imaging company, introduced DRX Compass, a digital radiology solution aimed at elevating the efficiency of radiologists. This solution is designed to be accurate, convenient, and customizable, offering radiologists a new level of operational efficiency.

Global eHealth Software and Services Market: Key Trends

Increasing growth strategies, such as partnerships and product launches, by the market players

Increasing inorganic growth strategies, such as partnerships, by the market players is expected to drive the growth of the market over the forecast period. For instance, in August 2020, Inspirata, Inc., an oncology informatics company, announced a partnership with FUJIFILM Corporation, a multinational conglomerate company. FUJIFILM Corporation will supply and service Inspirata's Dynamyx Software globally, with exclusive rights in the U.K., Italy, Spain, Portugal, Belgium, the Netherlands, and Luxembourg. Dynamyx software will be accessible for complicated managed outsourcing projects that require various digital modalities in addition to digital pathologies such as PACS and VNA.

Increasing organic growth strategies such as product launches by the market players is expected to drive the growth of the market over the forecast period. For instance, in August 2021, Change Healthcare, a U.S.-based healthcare company, announced the launch of Change Healthcare Stratus Imaging PACS. The newly launched Change Healthcare Stratus Imaging PACS is a comprehensive cloud Software as a Service (SaaS) solution for radiology practices.

Global eHealth Software and Services Market: Restraints

Cyber-attacks associated with RIS and PACS

Radiology Information System (RIS) and Picture Archiving and Communication System (PACS) are prone to cyber-attacks, which increases concerns regarding data safety in the healthcare sector, which, in turn, is expected to hinder the growth of the global PACS and RIS market over the forecast period. For instance, in August 2020, according to a report published in the National Center for Biotechnology Information, in 2019, several cyber-attacks were published that specifically aim at medical network protocols and file formats, in particular digital imaging and communications in medicine.

Radiology Information System (RIS) and Picture Archiving and Communication System (PACS) are prone to cyber-attacks thus this his can be overcome by implementing guidelines for generic Information Technology (IT) cybersecurity and integrating healthcare enterprise integration profiles and test tools.

Global eHealth Software and Services Market- Key Players

The major players operating in the global eHealth software and services market include GE Healthcare, McKesson Corporation, E*HealthLine.Com, Inc., Oracle, Pro Medicus, Ltd., Siemens Healthineers AG, Sectra AB, eHealth Technologies, RamSoft, Inc., Veradigm LLC, Doctor On Demand, Esaote SPA, Evident, Johnson and Johnson Healthcare Systems, Inc., and KareXpert Technologies.

*Definition: ehealth is the emerging field at the intersection of medical informatics, public health,  business, and refers to health services information delivered or enhanced via the Internet and related technologies. The World Health Organization (WHO) defines "e-health" as "the safe and cost-effective use of ICTs and their role in supporting health and related areas including health care services, health monitoring, health literature, education, and knowledge.