Market Size of Patient Portal Industry
| Study Period | 2021 - 2029 |
| Market Size (2024) | USD 5.52 Billion |
| Market Size (2029) | USD 13.07 Billion |
| CAGR (2024 - 2029) | 18.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Patient Portal Market Analysis
The Patient Portal Market size is estimated at USD 5.52 billion in 2024, and is expected to reach USD 13.07 billion by 2029, growing at a CAGR of 18.80% during the forecast period (2024-2029).
The onset of COVID-19 caused nationwide lockdowns, with the suspension of non-urgent scheduled visits and hospitalizations worldwide. The financial and technological barriers prevented some patients from accessing the technology needed for patient portal services, especially older people and patients from underdeveloped countries. Additionally, in February 2022, DC Health launched a web-based portal, 'Digital Vaccine Record (DVR),' that gives district residents secure, easy, and free access to their official COVID-19 vaccination records. DVR, an official electronic vaccination record drawn from the District of Columbia's immunization information system (DOCIIS), is accessible on smartphones, tablets, and laptops and includes a QR code. When scanned by a SMART Health Card reader, it displays the same information as the physical vaccine card provided by the Centers for Disease Control and Prevention (CDC). Thus, the government and private sectors launched new portals and services for various purposes during the pandemic. The COVID-19 pandemic had a favorable impact on the market initially; in the post-pandemic period the market has lost some traction. However, it is expected to have stable growth during the forecast period.
The patient portal market has been growing owing to the increasing adoption of the patient-centric approach of healthcare payers and the growing demand for EHR. For instance, in February 2021, Northern Inyo Healthcare District collaborated with Cerner Corporation to transform its Electronic Health Record (EHR). The collaboration involved Northern Inyo Healthcare District moving to an updated electronic system that supported physicians, nurses, and clinicians to share data across the district's multiple offices. Such collaborations are expected to contribute to the rising adoption of EHRs in the United States.
Furthermore, in February 2021, Medway NHS (National Health Services) Foundation Trust adopted Allscripts Sunrise electronic patient records to boost its digital maturity quickly. With this, clinicians are expected to have better access to a single view of patient information with the launch of clinical papers with in-context links to other IT systems in use at the trust.
Additionally, the market players focus on market development strategies such as collaboration, partnerships, and product launches. For instance, in March 2022, Meditech and Google Health collaborated to bring search simplicity for electronic health records, which helps aggregate patient data from different settings and present a comprehensive patient view to clinicians. Thus, owing to all the factors mentioned above, the market is experiencing tremendous growth and is expected to have a high market share over the forecast period.
However, the concerns regarding data privacy and safety, coupled with the high cost of implementing and deploying these tools, are a major restraint for the market growth.
