Yahoo Finance Patient Portal Market to Reach Around $6 Billion by 2027. Introduction of Healthcare Chatbots to Revolutionize the Market - Arizton
Manufacturers are using patient engagement tools, such as patient portals that leverage AI to drive a personalized and convenient healthcare experience.
Chicago, Aug. 18, 2022 (GLOBE NEWSWIRE) -- According to Arizton’s latest research report, patient portal market to cross CAGR of 13% during 2021-2027 reaching a revenue of around $6 billion in 2027. The major factors contributing to the rise in demand for patient portals include the growing need for patient engagement solutions, the increasing adoption of EHRs, the growing amount of healthcare data, the surge in the integration of mobile-based health platforms, and the rise in demand for telehealth solutions, and others. The growing digitalization and technological advances in the healthcare industry are highly promoting the use of patient portals.
The adoption of AI is already widespread in various important areas related to clinical care. One of these areas includes the use of chat bots or bots in patient portals. In relation to these patient portals, bots can have a huge impact on several functions that serve the patient experience and simplify mundane processes for providers. Bots have the capabilities to learn from interactions and understand natural language patterns, which will continue to increase the demand for bots.
Patient Portal Market Report Scope
Report Attributes | Details | |
MARKET SIZE (2027) | $5.82 Billion | |
MARKET SIZE (2021) | $2.70 Billion | |
CAGR (2022-2027) | 13.62% |
|
BASE YEAR | 2021 |
|
FORECAST YEAR | 2022-2027 | |
SEGMENT TYPE | Product (Integrated and Standalone), Delivery Mode (Web & Cloud-based and On-premises), and End-user (Hospitals, Clinics & Physician Offices, Payers, and Others) | |
LARGEST MARKET | North America | |
KEY VENDORS | Epic Systems, Cerner, eClinicalWorks, Athenahealth, Allscripts Healthcare Solutions, General Electric, Solutionreach, and Updox | |
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Patient Portals Improvising Virtual Healthcare Systems
Health systems often lag in the use and implementation of virtual care options. On-demand healthcare has recently attempted to bridge this enormous gap with the help of technology companies and Venture Capitals (VCs). Google, Microsoft, Siemens, and Amazon are among the few major technology companies that have made significant advances in health services, including virtual care. With virtual care, physicians can only make clinical decisions, freeing them from many clerical tasks such as prescription preparation and documentation. As a result, a clinician can care for a patient while also treating other patients throughout the day.
Key Highlights
The global patient portals market is likely to witness an incremental growth of more than $3,110 million and absolute growth of around 115.20% during the forecast period.
In 2021, integrated segment accounted for the highest share as patient portals are integrated with EHRs/EMRs that provide complete health information with added benefits compared standalone patient portals.
In 2021, web & cloud-based segment accounted for the highest share as it is more advanced and can be accessed through multiple locations.
In 2021, hospitals segment accounted for the highest share as hospitals have many patients incoming and the need to store huge amounts of health data.
North America accounted for the highest share in 2021, due to major access of patient portals, huge incorporation of EHRs, supporting government programs, and presence of established companies.
Patient Portals Market in North America is Expected to Reach $2 Billion by 2027
The demand for patient portals is growing due to the rapid digitalization in the healthcare sector across the region. Technological advances, such as the widespread integration of AI, cloud-based solutions, and big data analytics incorporation with patient portals, are further driving their demand by helping experts in making quick diagnoses and treatment planning. The market is further driven by the growing patient population, which is raising the amount of health data to be managed with patient portals. Medical errors are highly prevalent and are the third leading cause of death in the US and Canada. More than 250,000 deaths in the US and 28,000 deaths in Canada occur every year due to medical errors. This has raised the need for adopting the use of patient portals across healthcare settings in the region.
Key Vendors
Epic Systems
Cerner
eClinicalWorks
Athenahealth
Allscripts Healthcare Solutions
General Electric
Solutionreach
Updox
Other Prominent Vendors
Adelante Healthcare
Advanced Data Systems
AdvancedMD
AIMDek Technologies
Bizmatics
Bridge Patient Portal
CapMinds
Change Healthcare
ClinicTracker
CureMD Healthcare
Elation
EPIC Health
Greenway Health
Health Myself Innovations
Hello Health
InSync Healthcare Solutions
INTELICHART
iSalus Healthcare
Itransition
La Jolla Digital
Manage My Health
MEDHOST
Medical Healthcare Solutions
Medical Information Technology
MedicalMine
Meditab
Medsphere Systems
Napier Healthcare Solutions
NXGN Management
Practice HER
Siemens Healthcare
ViSolve
Market Segmentation
Product Type
Integrated
Standalone
Delivery Mode
Web & Cloud-based
On-premises
End-Users
Hospitals
Clinics & Physician Offices
Payers
Others
Geography
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
APAC
Japan
China
India
South Korea
Australia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Turkey
Saudi Arabia
South Africa
UAE
Explore our healthcare lifesciences profile to know more about the industry.
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Call: +1-312-235-2040
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CONTACT: Arizton Advisory and Intelligence Call: +1-312-235-2040 +1 302 469 0707
