Patient Portal Market to Reach $19.3 Billion, Globally, by 2033 at 19.2% CAGR: Allied Market Research
NEW CASTLE, Delaware, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Patient Portal Market by Type (Standalone and Integrated), Delivery Mode (Web-based and Cloud-based), and End User (Providers, Payers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the patient portal market was valued at $3.4 billion in 2023, and is estimated to reach $19.3 billion by 2033, growing at a CAGR of 19.2% from 2024 to 2033.
Prime Determinants of Growth
Patient portals facilitate better communication between patients and healthcare providers, leading to increased patient engagement and satisfaction. Features like online prescriptions and referrals offered by patient portals improve patient compliance and clinical outcomes, especially for chronic conditions. Also, the patient portals optimize office workflows by allowing patients to access documents electronically, reducing administrative tasks for staff and enhancing efficiency. However, the patients who are not comfortable using technology or lack access to the Internet may face barriers to using patient portals effectively. The evolving landscape of patient portals presents a significant opportunity to enhance patient-physician engagement. As portals evolve to offer more advanced functionalities and user-friendly interfaces, they can become the primary tool for fostering communication between patients and healthcare providers.
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Report Coverage & Details
| Report Coverage | Details |
| Forecast Period | 2024-2033 |
| Base Year | 2023 |
| Market Size in 2023 | $3.4 billion |
| Market Size in 2033 | $19.3 billion |
| CAGR | 19.2% |
| No. of Pages in Report | 310 |
| Segments Covered | Type, Delivery Mode, End User, and Region |
| Drivers | Increase in Demand for Patient-Centered Healthcare. |
| Rising Need for Remote Access to Health Records. | |
| Restraint | Complexity of Integrating Patient Portals with Existing Health IT Systems. |
| Opportunities | Expanding Use of Electronic Health Records (EHRs) . |
| Advancements in Artificial Intelligence and Data Analytics. |
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Based on type, the standalone sub-segment is expected to grow faster during the forecast period.
Standalone patient portals offer an alternative solution to integrated systems by operating independently without relying on external software integration. Unlike integrated portals, which often entail additional fees and complexities in integration with third-party vendors, standalone portals streamline the process, minimizing costs and development time. This simplicity in software architecture makes standalone portals an attractive option for healthcare providers seeking efficient and user-friendly solutions.
Based on delivery mode, the cloud-based sub-segment is expected to grow faster during the forecast period.
Cloud-based patient portals have gained popularity due to their numerous benefits. This is because they offer increased accessibility, allowing patients to access their health information from anywhere with an Internet connection. Also, they provide scalability, enabling healthcare providers to easily accommodate growing patient volumes without the need for additional infrastructure. In addition, cloud-based portals offer enhanced security features, ensuring the confidentiality and integrity of patient data.
Based on end user, the providers sub-segment is expected to grow faster during the forecast period.
Providers widely use patient portals as they facilitate enhanced communication between patients and healthcare providers, facilitating secure messaging, appointment scheduling, and access to medical records. Also, patient portals offer providers a comprehensive solution to improve communication, efficiency, and patient outcomes in healthcare delivery.
Based on region, Asia-Pacific is predicted to show the fastest growth during the forecast period.
In Asia-Pacific, the demand for patient portals is increasing owing to the rising trend towards digitalization and technological advancements in healthcare delivery across the region. Moreover, there has been an increase in adoption of telemedicine and remote healthcare solutions including patient portals as people seek safer alternatives to traditional healthcare visits. Furthermore, some of the leading providers in the region offering patient portal solutions include Cerner Corporation, Allscripts Healthcare Solutions, Epic Systems Corporation, and others.
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Major Industry Players
- Allscripts Healthcare Solutions
- NextGen Healthcare Information Systems
- athenahealth, Inc.
- Greenway Health, LLC
- Cerner Corporation
- Medfusion Inc.
- Epic System Corporation
- GE Healthcare
- McKesson Corporation
The report provides a detailed analysis of these key players in the global patient portal market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.
Recent Industry Developments
- In May 2024, the study by UT Southwestern Medical Center revealed that online patient portal usage is increasing, particularly in emergency rooms. However, access remains challenging for medically underserved communities and the elderly. The research, published in JAMA Network Open, found that while participation in portal usage grew over time, disparities existed among users based on race, insurance status, and age. There is a call for further research to optimize portal features for emergency department settings.
- In March 2024, the Defense Health Agency introduced a new feature allowing prescription refill requests through MHS GENESIS, the Department of Defense's electronic health record system. Accessible via the MHS GENESIS Patient Portal, the feature processed nearly 30, 000 refills in its first week. Patients can manage their prescriptions easily, selecting medications for refill, pickup locations, and tracking readiness.
The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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