E-health Market To 2020- Industry Trends, Forecast: Grand View Research, Inc.
Rapidly increasing population coupled with associated health issues is expected to drive the e-health market over the next few years. The market is primarily driven by factors including increasing usage of patent drugs, expensive hospital care and high administrative costs. Technological developments and subsequent advancements resulting into various subsets of this market including mobile health (m-health) are also expected to favorably impact the global e-health market growth over the forecast period. M-health saves both money and time by providing health information to patients via mobile communication devices. The market is expected to grow steadily with the advent of smartphone and tablet applications (apps) offering real time data and accurate personal health information. These apps offer insights and other useful help, thereby allowing users to input details so that specific information relevant to diet, reminders and many other services are directly sent by the concerned doctors.
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E-health services include management and delivery of health information to patients using telecommunication & internet, usage of e-business and e-commerce for improved management of healthcare systems and usage of IT and e-commerce for improved health products & services. The market caters to a wide variety of end-use industry with users including healthcare providers, private & public healthcare insurance companies, governments, and healthcare consumers.
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Factors such as reimbursement policies, privacy concerns and licensing issues tend to pose severe challenges to the e-health market growth. Some other factors including high operational costs, lack of mobile network infrastructure and lack of consumer awareness are also expected to hinder market growth. E-health enables monitoring of remote patients, thereby reducing the number of patient visits helping healthcare professionals send and receive health information irrespective of the patient’s physical location.
Key market participants offering e-health services include Telecare Corporation, Epocrates Inc., McKinsey & Company, and Motion Computing Inc.
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