PATIENT PORTAL SOFTWARE MARKET ANALYSIS

Patient Portal Software MarketSize and Trends

Increasing awareness and user-friendly features is driving demand for patient portal software, which is expected to propel global patient portal software market growth over the forecast period

Increasing awareness about patient portals is expected to drive the global patient portal software market growth. Patient portal software are easy and convenient to handle, therefore several patients and healthcare practitioners are adopting this technology. This patient portal software can be used for several purposes such as booking appointments, keeping a track of patient’s medical history, accessing patient’s lab results, and generating electronic prescriptions. For instance, according to United Nations International Children's Emergency Fund (UNICEF), in 2015, 30% of patients were using the patient portal software which was an increase of 12% compared to 2014 in the U.S.

Global patient portal software market was valued at US$ 1,143.1 Mn in 2018 and is expected to witness a CAGR of 7.6% over the forecast period (2019–2027).

Figure 1. Global Patient Portal Software Market Share (%), By Software Mode, 2019-2027

Source: Coherent Market Insights Analysis (2019)

Launch of patient portal systems is expected to drive the global patient portal software market growth

Key players in the market are engaged in research and development activities, and product launches in order to expand their offerings in the market. For instance, in 2018, Brightree, a provider of cloud-based software, launched a new application called Patient Hub to personalize patient experience and increase revenue for home medical equipment (HME) providers. Patient Hub is a patient engagement application, which simplifies the work of HME providers to connect with their patients.

Moreover, in July 2014, Habersham Medical Center announced the launch of a new electronic medical record system or patient portal, which will allow patients to save and access their information from their personal computers and they can also transfer it to other healthcare providers, which the other patient portals doesn’t allow. Such products are expected to help in solving the problems faced by patients, and allow them easy access and share information much easily, this is expected to drive the global patient portal software market growth.