The Patient Portal Market is experiencing a surge in growth, driven by a confluence of factors that are transforming healthcare delivery. According to a recent report by Future Market Insights (FMI), a leading market research firm, the market is projected to reach a staggering US$22.29 billion by 2032. This translates to a robust Compound Annual Growth Rate (CAGR) of 20% from 2022, signifying a significant rise in patient portal adoption.
Patient portals serve as secure online platforms, providing patients with direct access to their medical records, laboratory results, and other critical health-related information. In addition to enhancing transparency, these portals empower patients to actively engage in their healthcare journey. Patients can leverage the portals to schedule appointments, request prescription refills, and establish seamless communication channels with their healthcare providers.
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The growth of healthcare facilities worldwide influences the Global Patient Portal Industry. Patient portal usage is rising quickly due to mandatory federal regulations and the integration of growth in the US electronic health records (EHR) market. Additionally, technology-based businesses are creating web-based apps for patient portals. This provides access to store and retrieve crucial data as a result. The COVID-19 pandemic has fueled a rise in teleconsultation services.
Patient portals are secure online platforms that give patients easy access to their medical information, appointment scheduling, and communication with their healthcare providers. They offer a variety of features, including:
- Access to medical records, such as lab results, imaging reports, and medication lists
- Appointment scheduling and reminders
- Prescription refills
- Secure messaging with healthcare providers
- Online bill pay
- Educational resources on health and wellness
Patient portals offer several benefits for both patients and healthcare providers. For patients, they can provide convenience, empowerment, and peace of mind. For healthcare providers, they can improve efficiency, communication, and patient engagement.
The increasing adoption of patient portals is being driven by some factors, including:
- The rising demand for EHRs: EHRs are electronic versions of patients’ medical records. They provide a central repository for all of a patient’s medical information, which can be accessed by healthcare providers from different locations. Patient portals are often integrated with EHR systems, which makes it easy for patients to access their medical information through the portal.
- Mandatory federal norms: The Meaningful Use program incentivized healthcare providers to adopt EHRs and patient portals in the United States. While the Meaningful Use program ended in 2018, many incentives are still in place through other programs, such as the Merit-based Incentive Payment System (MIPS).
- The benefits of patient portals: Patient portals offer several benefits for both patients and healthcare providers, as mentioned above. This is leading to increased adoption of patient portals by healthcare facilities of all sizes.
Patient Portal Market Key Takeaways:
- Patient portals are secure online platforms that give patients easy access to medical information, appointment scheduling, and communication with their healthcare providers.
- The increasing adoption of patient portals is attributed to their benefits to patients and healthcare providers.
- Patient portals can help patients manage their health better, improve communication with their healthcare providers, and reduce healthcare costs.
- Healthcare providers can use patient portals to improve patient care, increase efficiency, and reduce costs.
- The critical drivers of the Global Patient Portal Industry include the increasing adoption of EHRs, the growing demand for teleconsultation services, and government support for digital healthcare initiatives.
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Key Companies Profiled in the Patient Portal Market:
- Allscripts Healthcare Solutions, Inc.
- NextGen Healthcare Information Systems
- McKesson Corporation
- Cerner Corporation
- Greenway Health, LLC
- athenahealth, Inc.
- Epic Systems Corporation
- GE Healthcare
- Medfusion Inc.
Key Segments Covered in the Patient Portal Market
By Type:
- Standalone Patient Portal
- Integrated Patient Portal
By Delivery Mode:
- Web-based Patient Portal
- Cloud-based Patient Portal
By End-Use:
- Patient Portal for Providers
- Patient Portal for Payers
- Others
By Region:
- North American Patient Portal Market
- Latin America Patient Portal Market
- Europe Patient Portal Market
- Asia Pacific Patient Portal Market
- Middle East & Africa Patient Portal Market
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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