Patient Portal Market | Size, Share, and Forecast [2021-2031]
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
Market Size Value in US$ 2,185.71 Million in 2019 Market Size Value by US$ 8,938.75 Million by 2027 Growth rate CAGR of 18.8% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Patient Portal Market: Strategic Insights
| Market Size Value in | US$ 2,185.71 Million in 2019 |
| Market Size Value by | US$ 8,938.75 Million by 2027 |
| Growth rate | CAGR of 18.8% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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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 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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product , Delivery Mode , and End User and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The patient portal market is expected to register a CAGR of 18.80% during 2023–2031.
The patient portal market size is projected to reach US$ 17.27 billion by 2031
Leading companies in the patient portal market are - Cerner Corporation, Allscripts Healthcare, Epic System Corporation, Greenway, athenahealth, CureMD Healthcare, and other key players
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.
The rising adoption of a patient-centric approach by healthcare payers drives the patient portal market. Moreover, rising healthcare spending on digital health solutions is anticipated to create lucrative opportunities for the patient portal market growth
North America has dominated the patient portal market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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