Government mandates, growing consumerism, rising EHR usage, and the growing popularity of patient portals among the elderly are some factors expected to drive the growth of the market.
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However, the requirement of infrastructural investments to support patient portals, coupled with other factors like data security & privacy concerns, and the high cost of deployment of patient portal solutions are expected to restrain the growth of the market to a certain extent. In addition to this, the lack of health literacy poses a major challenge for market growth.
The global patient portal market is segmented on the basis of type, delivery mode, and end user. The market is expected to reach USD 2.74 Billion in 2020 from USD 1.19 Billion in 2015, growing at a CAGR of 18.1%. The market is expected to be dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). The European region is expected to grow at the highest rate during the forecast period.
Based on type, the market has been divided into standalone and integrated patient portals. Integrated patient portals operate as a module added onto an existing EMR/EHR (electronic medical records/electronic health records) or any other healthcare IT system. Integrated portals are estimated to account for the largest share of the global market, by type, in 2015. This large share can be attributed to the fact that these solutions offer increased efficiency and low requirement of expensive custom development to build a bridge between systems. Most integrated portals are provided by the same vendor as an EHR system. Moreover, these solutions allow a user to complete multiple business functions from within the same interface. As they provide a one-stop solution, they are cheaper, favored, and therefore high in demand.
By delivery mode, the market has been segmented into web-based and cloud-based modes. The web-based mode of delivery accounts for the major share of the market in 2015. However, the cloud-based mode of delivery is expected to grow at a higher CAGR, as cloud-based services can help healthcare organizations share and integrate information from disparate locations or systems in real time and generate a database registry.
The market, by end user, is segmented into providers, payers, pharmacies, and others. Providers include hospitals, ambulatory care centers, home healthcare agencies, nursing homes, diagnostic & imaging centers, and physicians. Other end users include employer groups and government entities. Providers are expected to account for the major share of the patient portal market globally in 2015. The growing need to improve the profitability of healthcare operations while containing costs, along with government initiatives to improve the quality of care and various incentive programs for providers, is among the factors propelling the use of patient portal solutions among providers across the globe.
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