Patient Portal Market Forecast to 2031 | Share and Size

The patient portal market size is projected to reach US$ 17.27 billion by 2031 from US$ 4.35 billion in 2023. The market is expected to register a CAGR of 18.80% during 2023–2031. The increasing adoption of the patient-centric approach of healthcare payers and the growing demand for electronic health records (EHR) to improve patient engagement are likely to remain key trends in the patient portal market.

Patient Portal Market Analysis

Patients access their electronic health record (EHR), a potential tool for refining patient engagement, through online portals. With the expansion of programming interfaces to upsurge bidirectional data flow with patients and simplify access to patient data such as clinical notes, the potential impact of patient engagement with the implementation of these platforms is expected to grow in the coming years. Approximately 90% of US healthcare systems and providers offer patients online portal access to their EHR data as per the data retrieved from Annals of Internal Medicine in 2020. However, only 15–30% of patients use these platforms. The use of a patient portal is limited to specific settings such as outpatient care in an integrated delivery system.

Patient Portal Market Overview

North America is the largest market for patient portal market growth, with the US holding the major market share in the region, followed by Canada. With the growth of digitalization in the healthcare industry, the use of EHRs is rapidly increasing. As per the data presented by WHO, national EHR systems are implemented by approximately 50% of total countries worldwide. Further, an article published in the Journal of Health Affairs Scholar in October 2023 stated that large hospitals have ~7% higher comprehensive EHR adoption rate than medium-sized hospitals, i.e., over 34%. However, rural hospitals trail urban areas in comprehensive EHR adoption by 12%. The growing requirement for EHRs and a rising incorporation of patient-centric techniques by healthcare payers are a few factors contributing to the growth of the patient portal market in the US.

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Patient Portal Market: Strategic Insights

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Patient Portal Market Drivers and Opportunities

Rising Adoption of Patient-Centric Approach by Healthcare Payers

Patient portals are an important tool for patient engagement solutions. This solution is gaining popularity in terms of usage among the aging population. Software manufacturers are developing this patient portal in the form of web-based or mobile-based applications. On this portal, patients can easily save and access their data. Moreover, governments of various countries across the globe are concentrating on establishing regulations, infrastructure, and standards for maintaining health records. For instance, My Health Record platform, Australia's national digital health record platform, was developed to secure patient’s own health records in 2022. Patient in Australia who holds Medicare or an individual healthcare identifier (IHI) can use My Health Record. The use of such digital health platforms by healthcare providers can facilitate the retrieval of healthcare data stored on the platform. Thus, the rising adoption of a patient-centric approach by healthcare payers drives the patient portal market.

Increasing Healthcare Spending on Digital Health Solutions

Healthcare providers are recognizing the importance of implementing efficient and patient-centric solutions. Software providers and research institutions are investing in digital health technologies to improve patient engagement and streamline administrative processes. Patient portals have emerged as a key component for digital health solutions, providing a secure and accessible platform for patients to access their health information and communicate with healthcare providers. Investments in these patient portals are driven by the capacity to achieve cost savings through better care coordination and improved patient outcomes. The rising healthcare spending on digital health solutions is anticipated to create lucrative opportunities for the patient portal market growth during the forecast period.

Patient Portal Market Report Segmentation Analysis

Key segments that contributed to the derivation of the patient portal market analysis are services, service providers, and end users.

• Based on product, the patient portal market is segmented into standalone patient portal and integrated patient portal. The integrated patient portal segment held a larger market share in 2023. The integrated patient portal operates as a module added in an add-on EHR/EMR or any other healthcare system.
• By delivery mode, the market is divided into web-based and cloud-based modes. The web-based mode segment held a larger share of the market in 2023. The cloud-based mode is expected to register a higher CAGR during 2023–2031.
• By end user, the market is segmented into payers, providers, pharmacies, and others. The providers segment held the largest share of the market in 2023. This segment includes hospitals, ambulatory care centers, and nursing homes.

Patient Portal Market Share Analysis by Geography

The geographic scope of the patient portal market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the patient portal market. The market growth can be attributed to increasing R&D spending by the government for hospital facilities in North America and the rising adoption of patient portals by biotechnology and pharmaceutical companies.

Patient Portal Market Report Scope

Patient Portal Market Regional Insights

The regional trends and factors influencing the Patient Portal Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Patient Portal Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Patient Portal Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Patient Portal Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Patient Portal Market are:

1. Cerner Corporation,
2. Allscripts Healthcare,
3. Epic System Corporation,
4. Greenway,
5. athenahealth

Disclaimer: The companies listed above are not ranked in any particular order.

Patient Portal Market News and Recent Developments

The patient portal market is evaluated by gathering qualitative and quantitative data post post-primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the patient portal market are listed below:

• Koblenz. CompuGroup Medical SE & Co. KGaA acquired 51% of m.Doc GmbH. m.Doc develops patient portals and digital applications for hospitals, rehabilitation, and care facilities. (Source: CompuGroup Medical, Press Release/Company Website/Newsletter, April 2023)
• Reveleer, a healthcare technology company using natural language processing (NLP) and artificial intelligence (AI) to empower data-driven healthcare for health plans and risk-bearing providers, acquired MDPortals, a best-in-class prospective risk adjustment platform. (Source: Reveleer, Press Release/Company Website/Newsletter, June 2021)

Patient Portal Market Report Coverage and Deliverables

The “Patient Portal Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Patient portal market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Patient portal market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Patient portal market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the patient portal market
• Detailed company profiles