According to research report the global eHealth Market is projected to reach USD 132.35 Billion by 2023 from USD 47.60 Billion in 2018, at a CAGR of 22.7%. The market is fragmented and highly-competitive in nature, which consists of several large to medium-sized companies that compete with each other for increasing their foothold in different segments of the market.
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Cerner (US) held the leading position in the eHealth market with the largest market share in 2017. The company has a robust eHealth product portfolio, including EMR/EHR solutions, PACs, hospital information systems, and others. With its wide presence, Cerner remains the largest provider of a comprehensive range of EHR solutions to hospitals and ambulatory care centers. It is actively involved in advancing its business by augmenting its presence in the eHealth market. For instance, between 2015 and 2017, the company collaborated with many market players through inorganic growth strategies, including Fusionetics (US), NeuroLogix Technologies Inc. (US), CoverMyMeds, LLC (US), and American Well (US) to mention a few. Furthermore, in February 2015, the company acquired Siemens AG’s health information technology business unit and Siemens health services business unit. The acquisition helped it to strengthen its customer base in Europe.
Allscripts (US) is another leading provider of eHealth solutions and services. The company significantly focuses on enhancing its existing portfolio and broadly invests in R&D activities to develop innovative products and attain a competitive advantage in the market. In particular, the company invested USD 187.0 million in R&D in 2016, an increase of 2% from 2015. Its operation mainly depends on the North American market. In 2016, the company earned 97% of its revenue from their domestic market. But, the company has increased the effort to expand its business in the other emerging and high growth markets such as Australia, through inorganic growth strategies. For instance, in December 2016, the company acquired Core Medical Solutions (Australia), a company focused on delivering EMR solutions, thereby extended its presence in Australia.
Philips Healthcare (Netherlands) is one of the leading companies in the eHealth market. The company has robust offerings for the eHealth solutions market including health information exchange solutions, mHealth solutions, VNAs and PACS, and telehealth solutions. Apart from organic activities, including expansions, product launches, and enhancements, the company significantly invests in R&D to add technologically innovative solutions to its portfolio. In 2016, the company invested nearly USD 2.23 billion in R&D activities which was roughly 8.2% of the total revenue generated during the same period. Other than North America and Europe, Philips Healthcare has a strong geographic presence in Asia Pacific, Latin America, and the Middle East & Africa, which is an advantage for the company to compete with other local market players.
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Some of the major players operating in the eHealth market include McKesson (US), Allscripts (US), athenahealth (US), Epic Systems (US), IBM (US), GE Healthcare (US), Optum (US), Siemens Healthineers (Germany), Medtronic (Ireland), and Cisco Systems (US). Some of the other players operating in the eHealth market include eClinicalWorks (US), Meditech (US), Carestream Health (US), Agfa Healthcare (Belgium), Fujifilm (Japan), Wolters Kluwer (Netherlands), and Orion Health (New Zealand).