Global eHealth Software and Services Market, By Type [eHealth Software, (Healthcare System Applications, mHealth Applications) (Solutions for patients), and eHealth Services (Tele-Health and mHealth)], By End User (Public/Private Healthcare Institutions, Physicians, Healthcare Workers, and Individuals) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
The increasing in organic growth strategies such as investment funding by key market players is expected to drive the market growth over the forecast period. For instance, in November 2021, Sirona Medical, a software company, announced that it had raised US$ 40 million in Series B financing, bringing the total capital raised to more than US$ 60 million. The funding round was led by GreatPoint Ventures and joined by Rose Park Advisors and Avidity Partners, with additional participation from previous investors including 8VC and Global Founders Capital.
Global eHealth Software and Services Market - Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
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, in November 2022, according to an article published by National Library of Medicine, a survey was conducted on General Practitioners (GPs) in Belgium, between October 2021 and April 2022. The result stated that eHealth was used more frequently during the COVID-19 pandemic, and it helped the GPs to reduce their workload, enabling greater accessibility to health care services.
Global eHealth Software and Services Market: Key Developments
On May 23, 2023, Altera Digital Health, a global healthcare IT innovator, announced that it had expanded its partnership with Pipeline Health, a community-based hospital system headquartered in Los Angeles, U.S. The seven-year contract will extend Pipeline Health’s use of Paragon Electronic Health Record (EHR), a product of Altera Digital Health, at four Los Angeles-area hospitals and deploy the system at White Rock Medical Center in Dallas, U.S.
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
On September 12, 2022, World Health Organization (WHO) and Healthcare Information and Management Systems Society, a global non-profit advisor, signed a memorandum of understanding, setting a new agenda of transatlantic collaboration in digital transformation of health systems
In March 2022, GE Healthcare, a medical technology company, announced the launch of a digital health platform named Edison Digital Health Platform, a vendor-agnostic hosting and data aggregation platform with an integrated Artificial Intelligence (AI) engine
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.
Browse 43 Market Data Tables and 39 Figures spread through 233 Pages and in-depth TOC on “Global eHealth Software and Services Market”, By Type [eHealth Software, (Healthcare System Applications, mHealth Applications) (Solutions for patients), eHealth Services (Tele-Health, and mHealth)], By End User (Public/Private Healthcare Institutions, Physicians, Healthcare Workers, and Individuals) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/ehealth-software-and-services-market-4085
Key Takeaways of the Global eHealth Software and Services Market:
- The global eHealth software and services market is expected to exhibit a CAGR of 11.8% during the forecast period due to increasing organic growth strategies, such as product launches, by key market players to expand their product portfolios. 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.
- Among type, the eHealth software segment is expected to be the dominant position in the global eHealth software and services market owing to increasing investments and funding, which will expand the global eHealth software and services market, as this is the emerging field in the healthcare sector which will expand the segment over the forecast period. For instance, in November 2020, Orange Business Services, a digital services company, pledged to invest in the Digital Health 2 (DH2) fund of LBO France, a major player in the private equity sector in France. The investment was made through its Orange Digital Investment holding and contributed to the development of innovative eHealth companies in France and Europe. The DH2 fund planned to invest US$ 224.7 Mn (€200 Mn) in eHealth SMEs, such as QuantifiCare, Tribvn Healthcare, FeetMe, and Meditect, for the growth of business in France and Western Europe.
- Among end user, the public/private healthcare institutions segment is expected to hold the dominant position in the global eHealth software and services market owing to the launch of ehealth software and services by public/private healthcare institutions to show the effectiveness, thsu expanding the segment growth over the forecast period. For instance, on January 17, 2023, Dundalk Institute of Technology (DkIT), an institute of technology, initiated a start-up programme for digital health companies in Ireland, Europe. eHealth Embark is a 10-week programme hosted by DkIT and supported by Amazon Web Services (AWS). It is operated by the dConnect Digital Health Innovation Hub and the Connected Health and Wellbeing cluster - both created by Dundalk Institute of Technology (DkIT).
- Among regions, North America is expected to hold a dominant market share in the global ehealth software and services market as the market players operating in the region are focused on inorganic growth strategies such as partnerships. For instance, in December 2022, Charles River Community Health, Inc., a U.S.-based healthcare provider, announced that it had partnered with Epic Systems Corporation, a U.S-based privately-held healthcare software company. Under the term of the partnership, Epic Systems Corporation will provide Charles River Community Health the necessary software and Epic Electronic Health Records (EHR) system.
- 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
