Patient Portal Market Analysis | 2023-2028

“The Patient Portal Market was estimated at US$ 2.75 billion in 2022 and is expected to grow at an impressive CAGR of 18.64% during 2023-2028 to reach US$ 7.67 billion by 2028.”

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Market Dynamics

Introduction

A patient portal is defined as a secure online website that provides patients with 24-hour access to their personal health information from anywhere very conveniently. The patients must have a proper internet connection to log in to the website and get information related to their recent doctor visits, medications, immunizations, discharge summaries, request prescription refills, and schedule non-urgent appointments among others.

Market Drivers

The global market growth is primarily driven by an increasing number of hospitals and clinics adopting patient portals due to their superior benefits for both patients and healthcare providers.

• Increasing demand for electronic health records is likely to propel market growth at a significant rate during the review period.

• The prevalence of chronic diseases and frequent hospital visits are also likely to add to the market growth.

• The growing need for the development of patient portal software with innovative features is likely to create lucrative opportunities for the market players over the forecast period.

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Opportunities:

There are several opportunities in the market, including:

• Developing new and innovative patient portal features: There is a demand for patient portals that offer more than just basic features, such as the ability to track progress towards health goals, connect with other patients, and participate in clinical trials.

• Expanding patient portal adoption: Many patients are not currently using patient portals. Healthcare providers can increase adoption by educating patients about the benefits of patient portals and making them easy to use.

• Integrating patient portals with other healthcare systems: Patient portals can be integrated with other healthcare systems, such as electronic health record (EHR) systems and practice management systems, to improve patient care coordination.

Challenges:

There are also several challenges facing the market, including:

• Data security and privacy concerns: Patients are concerned about the security and privacy of their health information, and healthcare providers need to take steps to protect patient data.

• Usability concerns: Some patient portals can be difficult to use, and this can discourage patients from using them.

• Lack of interoperability: Patient portals need to be able to interoperate with other healthcare systems so that patients can access their health information from multiple sources.

COVID-19 Impact 

The COVID-19 outbreak impacted the growth of the global market positively as the visits to hospitals for medical consultation decreased due to fear of getting infected. The usage of the patient portal made it easier for patients to be able to consult healthcare providers online, book appointments online, and request refills online among others.

Segments Analysis

Delivery Mode Trends

“The web-based segment accounted for a substantial market share in 2022.”

The market has been divided into web-based and cloud-based. 

• The segment growth can be attributed to easy access, convenience, technological advances, and affordability.

• The cloud-based segment is projected to register the fastest CAGR due to the integration of various features such as email marketing, patient education tools, and online appointment scheduling.

Regional Trends

“North America accounted for the largest share in 2022.”

North America is projected to continue its dominance during the review period due to the high acceptance of technologically advanced healthcare solutions in the region, particularly in the US.

The market in the Asia-Pacific region is projected to register a healthy growth rate on account of increasing healthcare expenditure and the adoption of digitally advanced solutions.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc. 

The following are the key players in the global patient portal market (arranged alphabetically).

• Allscripts Healthcare LLC (The US)
• Athenahealth Inc. (The US)
• Cerner Corporation (The US)
• Cured Health (The US)
• Epic Systems Corporation (The US)
• GE Healthcare (The US)
• Greenway Health LLC (The US)
• McKesson Corporation (The US)
• Medfusion Inc. (The US)
• NextGen Healthcare Information Systems LLC (The US)

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

The following is a list of the customers that the patient portal market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com