Patient Portal Market is Expected to Reach USD 5.2 Billion by 2024

The global patient portal market is expected to reach USD 5.2 billion by 2024, according to a new report by Grand View Research, Inc. The demand for Electronic Health Record (EHR) with a patient portal is expected to exhibit an upsurge over the forecast period, owing to the increasing demand, favorable government funding policies, and the continual technological advancements offered by the key industrial players. 

In May 2016, CureMD signed a pledge of Voluntary National Interoperability. This pledge stated that action plans to develop and implement rapid flow in healthcare information between providers, patients, and other concerned authorities are to be implemented. 

U.S. patient portal market, by type, 2013 –2024 (USD Million)

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Further Key Findings From the Report Suggest: 

• Integrated Patient portal was identified as the most lucrative segment in 2015. The rapid shift of providers from their previous methods to the EHRs, advancements in technology, and increasing demand were some of the reasons for its largest market share. 

• In June 2015, ICON (a global drug development and service provider) launched its online “Firecrest Patient Portal” It was specifically designed for a person to understand the entire treatment process before consulting the provider and view information regarding clinical trials. 

• Moreover, this provided services such as online appointment registration, laboratory tests and reports, and other necessary facilities. 

• Also, as per a report by the European commission, 11regions across the European Union (EU) had participated in the “Sustains project” since 2012, which was EU sponsored. This project was an initiative for joint learning, providing patients’ access to their health records and other online services. 

• North America dominated the market in 2015 as a result of the technological advancements and implementation of healthcare IT in the region.

• In June 2014, Brattleboro Memorial Hospital launched “myHealthPortal.” It is expected to provide easy and early access to the selected portions of the health records. It is safe and secure, providing confidential communication between the providers and the patient. 

• Europe is expected to grow at a higher rate over the forecast period due to increasing demand of efficient healthcare delivery and advanced solutions. Increased government initiatives in the region and deployment of EHR-based portal solutions are considered responsible for its high growth rate. 

• In November 2015, an event was organized in the European Parliament by members of the European Parliament, Health Policy Partnership, Lung Cancer Europe, and European Cancer Patient’s Coalition. This event witnessed the launch of an Immuno-oncology Patient Portal that proved to be a unique solution for people suffering from cancer in Europe. 

• Developers are collaborating and expanding with the aim of combining the use of innovation and technology to improve efficiency and provide better services for the convenience of the providers. 

• In 2016, McKesson Corporation announced a partnership with Blue Cross Blue Shield of Arizona. This partnership will help deliver a broad range of services, thereby assisting the service providers. 

• In 2015, GE Healthcare announced the acquisition of Camden Group in order to provide their clients access to analytics that involves change management and activation resources, which support organizational and clinical changes. 

• Some key players in this market are GE Healthcare, Allscripts Healthcare Solutions, McKesson Corporation, and Cerner Corporation.

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