The global ehealth market is expected to be worth $693bn by 2030, growing at a CAGR of 16.5%, according to Transparency Market Research (TMR).

Rising incidences of different diseases and accidents are stimulating growth in global ehealth. The healthcare industry has witnessed significant advancements in the past decade. Changes in the industry have coincided with increases in patient population.

Traditionally, patients have preferred to get treatment at different healthcare infrastructure facilities such as hospitals. However, the past few years have witnessed a growing trend of patients opting for home treatment, which has led to an increase in the adoption of ehealth services and helped the market grow significantly.

The global ehealth market is expected to rise at CAGR of 16.5% between 2020 and 2030. Well-established market players are adopting growth strategies such as collaboration with smaller players, which is helping them expand their market presence and increasing revenue shares.

Epic Systems in May 2020 announced the firm was collaborating with Twilio to introduce a telehealth platform that would help healthcare personnel launch video visits to treat patients.

The last decade has witnessed an increase in patient population suffering from different cardiovascular and neurological disorders and an increase in the number of road accidents globally. This has led to an increased prevalence of mismanagement in hospitals and clinics owing to poor communications in the case of an emergency. The increasing need for clear communication between healthcare personnel in hospitals and clinics is boosting growth in the overall ehealth market.

The electronic health record (EHR) segment is expected to contribute the most to the global ehealth market in the future. Leading health insurance companies are adopting EHRs since these firms must offer the insured individuals their medical records at the start of every year. Furthermore, prominent players in ehealth are looking to increase their capabilities to introduce EHR mobile applications to increase the convenience for insured individuals.

An increasing patient population preferring to receive home treatment during the Covid-19 pandemic was a key growth driver. And more adoption of real-time health systems is stimulating market growth

Continuous advancements in mobile technologies are catalysing the demand for ehealth services, thereby propelling overall market growth.

Globally, North America emerged as the dominant region in 2020. Increased expenditure on digitisation of healthcare facilities as well as the presence of numerous leading market players in the USA and Canada were the key factors behind the region emerging as a leader in the overall market.

Asia Pacific is projected to account for a large share in the overall market in the future. This is because of continuous growth witnessed in the information communication and technology industry, which could lead to increased adoption of ehealth services in both developed and developing economies such as China and India.

The global ehealth market is extremely competitive, with the presence of numerous prominent market players. Leading players are making huge investments in platforms with features that would offer increased convenience for patients. Some of the leading players include Motion Computing, Epocrates, Epic Systems, Doximity, IBM and Apple.