Patient Portal Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

 

Patient Portal Market Analysis:

1. The forecasted growth of the Patient Portal Market is significant, with an estimated increase from USD 5.52 billion in 2024 to USD 13.07 billion by 2029. This growth is attributed to a compound annual growth rate (CAGR) of 18.80% during the forecast period. However, the market faced challenges during the COVID-19 pandemic, as lockdowns and technological barriers hindered access to patient portal services, particularly for older individuals and those in underdeveloped countries. Despite these setbacks, the market is expected to maintain stable growth in the coming years.

2. The COVID-19 pandemic had a profound impact on the healthcare industry, leading to the suspension of non-urgent visits and hospitalizations worldwide. To address this, both government and private sectors launched new portals and services, such as the ‘Digital Vaccine Record (DVR)’ introduced by DC Health in February 2022. This web-based portal provided district residents with secure and free access to their official COVID-19 vaccination records, enhancing convenience and safety. The DVR, accessible on various devices, including smartphones and tablets, featured a QR code that displayed the same information as the physical vaccine card issued by the CDC. These initiatives aimed to bridge the gap caused by the pandemic and ensure efficient healthcare delivery.

3. The growth of the patient portal market can be attributed to the increasing adoption of patient-centric approaches by healthcare payers and the rising demand for Electronic Health Records (EHR). A notable example is the collaboration between Northern Inyo Healthcare District and Cerner Corporation in February 2021, which aimed to transform the district’s EHR system. This shift towards patient-centric care and the integration of EHR systems have contributed to the expansion of the patient portal market. Although the market faced challenges during the pandemic, it is expected to regain momentum and experience stable growth in the foreseeable future.

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