Global Patient Portal Market report

The global patient portal market was valued at USD 3 billion in 2020 and is projected to reach USD 7.55 billion with a CAGR of 14.1% during the forecast period, 2021-2027. The increasing use of the patient portal, increasing cloud-based technology, and technological advancement in healthcare services through mobile-based technologies, more dependence on mobile technology are the major factors drive the growth of the global patient portal market. Furthermore, these portals are developed by software companies in the form of web-based or mobile-based applications to be interfaced by users to store or retrieve important records is among the key factors projected during the forecast period to drive the global market’s growth for the patient portal.

What is a Patient Portal?

A patient portal is a secure online web-based access point that gives the patient 24/7 access to their healthcare information anywhere with an internet connection. Every Patient will contain a secure login id and password provided by their doctors. The patient portal will preserve a way of your visits, test report, prescription, billing and other information. Portal allows the patients to contact the healthcare specialists according to their suitability. Some benefits are that the patient portal is more well-organized and improves communication.

Growth Driver

The growing penetration of EHR solutions is increasing the Patient Portal Market.

The growing penetration of EHR solutions by healthcare providers is helping patients access and monitor their healthcare information and surge their participation in healthcare management. Increasing the use of these services by federal and non-federal hospitals and individual doctors is driving market potential. Hospitals and other healthcare facilities that use EHR-based technologies, such as patient portals, increased patient involvement, reportedly have increased clinical productivity and streamlined management processes. Due to the increasing use of EHR services, many healthcare organizations integrate these modalities into their management models.

Opportunities

Increasing digitization and growing need for patient portals

The majority of the population currently receiving treatment, suffering from chronic illness, writes prescriptions that require paperwork. Global population growth and the elderly population create demand for access to health records without going to medical facilities. Bedridden population, people suffering from a serious or terminal illness, and large hospice care people who cannot go to medical facilities need access to the patient portal to share their health records. Software companies can work with providers in developing countries to digitize their health records. Changes in regulation and the acceptance of digital medical strategies worldwide are expected to surge the demand for digitizing medical records available in paper format. In addition, technology companies that already provide software and services to healthcare providers can expand their customer base by involving customers such as pharmaceutical companies in clinical trials.

Restraints

Data privacy and security concerns

Patient involvement is necessary and may be effective for better health outcomes. In addition, increased acceptance of EHR is not associated with increased acceptance of patients. For example, age groups and illiterate people cannot adapt to changes in the technology-savvy nature of software and applications designed to facilitate the vendor’s daily workflow. The patient portal provides easy and convenient access to patient health information, but the disadvantage is that it opens the door to privacy and security concerns. For example, 2020 ransomware attacked Magellan Health, an Arizona-based Fortune 500 company that provides solutions to health insurance companies, employers and governments. It had an impact.

Pre-Covid-19 impact on the global Patient Portal market

Before the covid-19, the patient portal market had increased EHR adoption rate, an increasing patient-centric approach in healthcare delivery and rising popularity of patient portals among the elderly. The patient portal acts as an essential technology tool for better patient care and encourages development in the healthcare sector. Digital technology is rapidly establishing its base in healthcare technology through the adoption of a patient portal. Increasing demand for electronic health records, increasing initiatives by the government to promote the application of patient portals and growing patient-centric approach by healthcare payers are the factors that propel the patient portal market during the pre-covid-19 period.

Covid-19 impact on the global Patient Portal market

The COVID 19 pandemic has impacted people worldwide, forcing them to shut down operational facilities around the world. During the blockade, the medical industry faced extraordinary challenges, such as supply chain disruptions, which led to the closure of the workforce, thereby affecting software development efforts. The patient portal market was not significantly constrained while supporting growth. The COVID19 pandemic has provided growth opportunities for companies seeking to operate or access the patient portal market. This is due to a growing proportion of the population suffering from mental health problems such as anxiety, depression and eating disorders.

Post Covid-19 impact on the global Patient Portal market

The COVID-19 pandemic has a rapid increase in patient flow, and the increase in hospitalizations places a heavy burden on medical facilities and professionals. The COVID-19 pandemic has created growth opportunities for the companies operating or trying to access the patient portal market. Increasing Online consultations with support from doctors are provided through this portal. Due to the increasing burden on medical services, advanced modality and the portal help minimize physical contact between the person seeking treatment and the doctor is an effective way to avoid this problem expected to grow the patient portal market over the covid post period.

Type Segmental Analysis

Based on the type, the global patient portal market is segmented into standalone patient portals and integrated patient portals. The integrated patient portal segment captured the largest market share in 2020 and is expected to grow critically during the forecast period, 2021-2027. The integrated patient portal is an online health platform that gives patients access to all health data and services in one place. These portals provide patients with a secure and private way to communicate with their doctors and other care providers by securely delivering messages and making inquiries on their behalf. The integrated portal provides the ability to share real-time health data among patients, health care providers, and other health care personnel or institutions that may need access to this information.

Delivery Mode Segmental Analysis

Based on the delivery mode, the global patient portal market is categorized into cloud-based and web-based. The Cloud-based segment captured the largest market share in 2020 and is expected to grow significantly during the forecast period, 2021-2027. The segmental growth is due to the growing high preference & increasing acceptance of EHR systems by small-scale users, reasonable pricing, and improving data safety measures for cloud-based portal services. Over the past periods, technological improvements in the healthcare IT sector have improved data mining capabilities that allow administrators to monitor work processes and offer quick access to clinical information.

End-User Segmental Analysis

Based on the end-users, the global patient portal market is segregated into pharmacies, providers, payers and others. The providers segment captured the largest market share, 24.71%, in 2020 and will likely generate maximum profit during the forecast period, 2021-2027. It is attributed to the high penetration rate of EHR services, including patient portals in medical facilities. The provider segment includes internships such as hospitals, acute care centers, outpatient surgery centers, physicians, and other healthcare facilities accelerating the adoption of patient portal services.

Region Segmental Analysis

The global patient portal market is categorized as North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America has the larger market share in 2020 and is estimated to grow significantly during the forecast period, 2021-2027. This growth is concerned with the high level of acceptance of patient portals by both payers and providers, which is one of the key factors expected to drive the market’s growth. Moreover, the growing digitization of paperwork drives the patient portal market in the region.

Competitor Analysis

Companies include Athenahealth, Allscripts Healthcare Solution, Inc., CureMD, Cerner Corporation, ClinicalWorks, Greenway Health LLC, Medfusion, Inc., Nextgen Healthcare Information System LLC, McKesson Corporation, and Epic System Company are prominent players in the global patient portal market. Key Stakeholders

• Market research and consulting firms
• Industry associations
• Global Patient Portal providers
• Local Governments
• Regulatory bodies
• Suppliers

Recent Developments

• In June 2021, Epic Corporation is a subsidiary of Orlando Health St. Partnered with Cloud Hospital to integrate EHR with Epic’s MyChart patient portal. The MyChart portal allows patients to access test results, receive secure messages from caregivers, make appointments, pay, and request prescription refills. This collaboration will help give companies a competitive edge by streamlining healthcare data and delivery.
• In March 2021, TrueCare launched the MyChart Patient Portal to give patients easy access to and manage their health information.
• In January 2020, Bridge Patient Portal announced the launch of a new telemedicine solution using Zoom for Healthcare.
• In August 2019, IQVIA (USA) launched the IQVIA Patient Portal, a web-based solution built on the healthcare cloud platform, increasing patient involvement and recruitment.

Scope of the Report

Report Attribute	Details
Market Size Value in 2020	USD 3 Billion
The revenue forecast in 2027	USD 7.55 Billion
Growth Rate	CAGR of 14.1% from 2021 to 2027.
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Athenahealth, Allscripts Healthcare Solution, Inc. CureMD, Cerner Corporation, ClinicalWorks, Greenway Health LLC, Medfusion, Inc., Nextgen Healthcare Information System LLC, McKesson Corporation, Epic System Company, Other Prominent Players

Market Modelling

By Type

• Standalone Patients Portals
• Integrated Patients Portals

By Delivery Mode

• Cloud-based
• Web-based

By End-users

• Pharmacies
• Providers
• Payers
• Others

By Region

• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

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