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Patient Portal Market

Patient Portal Market: Information by Type (Standalone, Integrated), Delivery Mode (Web-based, Cloud-based), End-Use (Patient Portal for Providers), and Region — Forecast till 2030

Published At : 20 Jul, 2022
Updated At : 29 Aug, 2022
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Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
19.23 %
Fastest Growing Market:
Europe
Largest Market:
North America

The global market for the patient portal was valued at USD 2.41 billion in 2021, and it is anticipated to reach USD 11.74 billion by 2030 at a CAGR of 19.23%. A patient portal is a protected online platform that gives patients access to their personal health information around the clock and from virtually any location in a highly convenient manner. Patients must have a reliable internet connection to log in to the website, access information regarding their most recent doctor visits, medications, immunizations, and discharge summaries, request prescription refills, and schedule appointments that are not considered urgent. The expansion of the market is fuelled by various factors, including the rising popularity of electronic health records (EHR) and the presence of government rules that require the maintenance of health records.

The integration of new technology and the development of digital platforms is currently a primary emphasis for a significant number of healthcare organizations. These platforms' primary goals include the generation of a patient database and the application of that database in making decisions regarding disease diagnosis and treatment. An increase in chronic disease prevalence, a rise in the utilization of big data and health IT solutions as well as an increase in the number of important government initiatives are all aspects that contribute to the global patient portals market's growth. However, concerns over data protection and a lack of awareness of software in underdeveloped nations are impeding the industry's growth.

Patient Portal Market share

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Market Dynamics

Global Patient Portal Market Drivers

  • Demand for Electronic Health Records (EHRs) is Growing

The rise of the patient portal market may be attributed to several factors, including the increased demand for electronic health records (EHRs) and the rising acceptance of patient-centric approaches by healthcare payers. The digitalization of the healthcare business is progressing rapidly, which has contributed to the rise in demand for electronic health records (EHRs). A majority of countries in the upper middle and high income brackets have developed national EHR systems, according to the World Health Organization. Demand for patient portals is rising due to increased attention being paid by governments worldwide to the establishment of the standards, rules, and infrastructure necessary for the maintenance of health records.

  • The rapid increase in usage of digital technology in healthcare

The rapidly increasing use of digital technology in the healthcare industry is the primary factor propelling the global market growth. A promising outlook for the market is also being created due to the consistent technological advances occurring across the industry. For instance, the widespread adoption of artificial intelligence (AI), cloud-based technologies, and big data analytics, which are integrated with patient portals, enables medical professionals to rapidly diagnose patients and plan their treatments. In addition, the abrupt spread of the coronavirus known as COVID-19 across the entire world has also contributed to the growing demand for efficient medical support solutions. In addition, the increased funding and expenditures made by private and public organizations worldwide to upgrade the already existing healthcare infrastructure are boosting the market's expansion. The expansion of the elderly population, which is more prone to the development of various medical conditions, is another factor driving the market.

Global Patient Portal Market Opportunities

  • Opportunities created by COVID-19, the pandemic

The COVID-19 epidemic had generated new prospects for expansion for businesses either operating in the market or trying to break into the market. It is because a significant percentage of the population suffered from mental health concerns such as anxiety, depression, eating disorders, and various other conditions. Even if the pandemic has been contained, users have become accustomed to receiving medical care via remote access. Consequently, the market is anticipated to grow as a consequence of this.

Global Patient Portal Market Restraints

  • The risk of data breaches and illegal access to the patient portal hinders the market growth.

Patient portals have several limitations that may limit their adoption, including data privacy issues, security worries, and costly implementation and deployment costs. The risk of a data breach, illegal access to the patient portal, and abuse of the patient's electronic protected health information is increased by the public availability of the patient portal (ePHI).

Growing worries about security breaches and data leaks could harm the market's growth. Additionally, the HIPAA Security Rule's protection of clinical data, which consists of electronically protected health information (ePHI), is superseded by patient portals. Patient portal service providers and business partners are required to create effective administrative systems that protect the security, integrity, and availability of ePHI under the Security Rule. The Security Rule requirements and HIPPA compliances impose restrictions on the integration and sharing of medical data, consequently restricting its application.

 

Segmentation Of The Global Patient Portal Market

The global patient portal market is segmented into four parts based on type, delivery mode, end-use and region.

Based on type, the market is bifurcated into Standalone and Integrated patient portals. The integrated patient portal is supposed to occupy the largest share of the global market. The demand for integrated portals is driven by their multifaceted capacity to offer one-stop solutions that aid in efficiency, various functionality, and affordable solutions. Additionally, research initiatives concentrating on developing pre-integrated EHR peripherals are anticipated to fuel the growth. EMR/EHR with integrated patient portals can also be added as a module to any other healthcare IT platform or EMR/EHR already in use. In turn, this is increasing the demand for patient portals. Integrated portals do not need a separate specialized system to fill the gap between physician requirements and patient information. Additionally, multiple business operations can be used using a single interface. They are therefore accessible, well-liked, and in great demand.

The market is broken down into web-based and Cloud-based patient portals based on delivery mode. The web-based segment is expected to hold the largest market share during the forecast period. The web-based software can be set up and managed by a third party off-site. Web-based software vendors typically charge a usage-based yearly or monthly fee. The advantages this software provides can be used to explain the emergence of web-based applications. Web-based applications include fewer deployment requirements, no additional hardware costs, ongoing software updates, and inexpensive starting costs. The adoption of web-based software is also growing due to its low cost, quick return on investment, and simplicity of implementation.

According to end-use, the market is divided into Providers, Payers and Others. Healthcare providers are expected to hold a significant market share during the forecast period. Over 90% of hospitals give patients access to their medical records, and 72% of businesses allow patients to see, download, and send their whole medical files, according to the Office of the National Coordinator for Health IT (ONC). The category is growing due to healthcare providers using patient portals more frequently.

Based on region, the market is broken down into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa. North America dominated the market.

 

Regional Analysis Of The Global Patient Portal Market

Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa.

Patient Portal Market share

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The market for patient portals worldwide was dominated by the North American region, followed by Europe and Asia-Pacific. North America dominated the patient portal market. It was due to the presence of prominent competitors such as Allscripts Healthcare Solutions, Inc. (US), McKesson Corporation (US), Athenahealth (US), Cerner Corporation (US), eClinicalWorks (US), CureMD (US), and Medfusion (US). Additionally, high acceptance rates of patient portals among payers and providers are currently driving behind industry expansion in the region. Additionally, the growing digitization of paperwork in this region is driving growth in the patient portal market.

The European patient portals market held a sizeable portion of the overall market. Changes in the regulatory standards for storing patient health records are projected to increase across Europe due to the increasing use of digital health solutions on a country-by-country basis. The countries of Eastern Europe are anticipated to have a greater need for patient portals because numerous governments in the region are currently in the process of developing legislation status for access to medical records.

Because of the many technological developments and healthcare reforms in the Asia-Pacific region, which are supported by developing economies like China and India and a supportive attitude of the government toward the healthcare IT sector, the region offers significant opportunities for the growth of this market.

 

Key Manufacturers In The Global Patient Portal Market

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

 

Recent Developments

  • In March 2022, a prominent supplier of cloud-based healthcare technology solutions, NextGen Healthcare, Inc., unveiled its most recent version of its NextGen® Behavioural Health Suite.
  • In May 2022, the debut of NextGen® Health Data Hub Insights, a cutting-edge and extensible data warehouse and bespoke analytics solution, was announced by NextGen Healthcare, Inc., a leading provider of innovative, cloud-based healthcare IT solutions.
  • In December 2021, it was announced by Zoom Video Communications Inc. that an integration option had been made available with the electronic health record platform of Cerner Corp.

 

The Global Patient Portal Market: Segmentation

By Type

  • Standalone
  • Integrated

By Delivery Mode

  • Web-based
  • Cloud-based

By End-Use

  • Patient Portal for Providers
  • Patient Portal for Payers
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East & Africa
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