Patient Portal Market: Overview with Detailed Analysis, Competitive landscape Forecast to 2024
A patient portal is an online website that helps to maintain all data of patients. Patients, medical practitioners, and pharmacists have access to this portal at any time and place. This helps the patient to interact with the health care provider. Basic information available on the patient portal includes information about recent doctor visits, patient history, chronic diseases, discharge summaries, current medications, chronic disease medication, vaccines information, allergies, and laboratory test reports. Some patient portals have value-added service such as exchange patient information with health care teams, schedule appointments with physician, request to refill prescription, check benefits and coverage under various insurance providers, update personal information, make payments, order products, download and complete forms, and view educational and disease awareness materials. The patient portal centralizes the information about the patient which helps health care provider to act accordingly and provide effective treatment and track the patient’s health. Patient portals are affordable and easily accessible that increases the medical security and safety of the patient. These portals are helpful during emergencies when a patient is unconscious and for routine check-ups which reduce the time of the patient as well as the physician.
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The global patient portal market has been segmented by portal type, delivery mode, end-user, and geography. On the basis of portal type, the patient portal market is segmented into standalone patient portal and integrated patient portal. Integrated patient portal is more preferred because of the electronic health record (EHR) and holds a significant share in the patient portal market. Based on delivery mode, the patient portal market is categorized into web-based delivery and cloud-based delivery. The cloud-based delivery is the latest trend and is expected to rise at a rapid rate in the near future owing to technological advancement, convenience, improved efficiency, and affordability. In terms of revenue, web-based delivery mode is projected to hold a significant share of the patient portal market due to more preference by medical practitioners. The end-user of the market includes hospitals, physician clinics, individual patient, research centers, pharmacies, diagnostic centers, academics, and government organizations. Hospitals hold a significant share of the patient portal market due to increasing accessibility and affordability in health care system.
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Geographically, the patient portal market has been classified into five regional markets: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to continue its dominance in the market owing to increase in the demand for improved efficiency and easy access to portal. Moreover, government initiatives in the region have fueled the market growth. North America is followed by Europe in terms of market size, and it is expected to register a high growth in the near future. Emerging markets such as Asia Pacific, Latin America, and Middle East & Africa are estimated to record lucrative growth during the forecast period. China, Brazil, and India are expected to drive the growth of the market during the forecast period owing to increasing investments by government bodies to enhance health care facilities.
In addition, there are number of factors that are anticipated to drive the growth of the patient portal market such as rise in adoption rate by health care facilities, technological advancement, health data maintenance awareness in developing countries, and increase in the demand for EHR. However, the market is anticipated to witness certain restraints such as lack of skilled health care professionals across different facilities.
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