Patient Portal Market Analysis

Patient Portal Market Analysis

The integrated portals segment in the patient portal market was valued at more than USD 2.08 billion in 2020 led by the ability of integrated portals to offer one-stop solutions that aid in fuelling efficiency, multiple functionality and cost-effective solutions. Integrated patient portal solutions offer multiple functionalities such as EHR system or practice management software that reduces the expenses associated with development of custom model, as its bridges multiple systems together. In addition, research projects focusing on development of pre-integrated EHR peripherals is set to proliferate the industry expansion.

The patient portal market for cloud-based segment is expected to showcase 14.5% growth rate through 2027 impelled by the high preference & rising acceptance of EHR systems by small scale users, affordable pricing, and improving data safety measures for cloud-based portal services. Cloud-based patient portal is a scalable and cost-effective clinical solution integrated for collecting & storing patient information in the cloud storage.

Technological advancements in the healthcare IT sector over the past decades have enhanced data mining capabilities that enable administrators to monitor work processes and offers quick access to clinical information. The physicians and independent medical practitioners are integrating EHR cloud-based solutions to lower cost and reduced technological requirements. The cloud-based deployment mode eliminates the need for hardware installation, software licenses, licensing fees, maintenance costs, updates and security patches cost among others. Rather, these independent practices pay a monthly fee for accessing these services called as software as a service (SaaS) and are extensively preferred.

The healthcare providers segment crossed USD 1.44 billion by 2027 owing to the high penetration of EHR services including patient portals in the healthcare facilities. The healthcare provider’s segment includes hospitals, ambulatory surgical centers, acute care centers, independent medical practitioners such as physicians and other healthcare facilities. Rising significance of clinical information, increasing patient participation, enhancing workflow management and promoting clinical productivity are amongst the key variables accelerating the adoption of patient portal services.

U.S. patient portal market is predicted to reach over USD 3.36 billion by 2027 on account of the incentivized government policies for EHR system developers and adopters, technological advancements, successful incorporation of IT technologies and high acceptance for advanced technologies in the country. According to the United States American Hospital Association Information Technology Supplement survey data, from 2008-17, the overall acceptance rates soared exponentially from 9.4% to 96% in the U.S. hospitals. The annual average usage rates every year were relatively highest accounting for 9.6%, owing high acceptance for advanced modalities and favourable government initiatives.