Digital Healthcare Market 2022 Global Industry Size, Growth and Forecast Report 2030

Quadintel published the latest research report on the Digital Healthcare market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Digital Healthcare market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

Market insights

The rapid penetration of smartphones and the internet, coupled with supportive government policies, has propelled the growth of the digital healthcare market in India. In terms of revenue, the digital healthcare market in India was valued at INR 252.92 Bn in FY 2021. It is expected to reach INR 882.79 Bn by FY 2027, expanding at a CAGR of 21.36% during the FY 2022 FY 2027 period. Digital healthcare lowers the number of admission and re-admission in hospitals, ensures compliance with the treatment regimen, and facilitates the early detection of ailments, leading to reduced costs for fund providers. Patient-centric care, better patient engagement, improved patient awareness, and access to data in healthcare apps have motivated patients to adopt digital healthcare.

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Segment insights:

Based on type, the market is segmented into telehealth, mHealth, electronic health records/electronic medical records (EHR/EMR), and others (remote diagnostics and healthcare analytics). The mHealth segment is estimated to dominate the market, with a revenue share of ~38.28% in FY 2027, followed by the telehealth segment.

The demand for health condition management apps is estimated to expand at a rapid pace during the forecast period because of an increase in the adoption rate of disease-specific apps, online consultation apps, womens health and pregnancy apps, and medication reminder apps. Also, sensor technologies can be used to make mobile devices important components of diagnostic tools to address several real-life challenges.

Technology insights:

Emerging technologies such as artificial intelligence (AI), machine learning, Blockchain, Internet of Things (IoT), Internet of Medical Things (IoMT), and Big Data analytics have aided in transforming the digital healthcare market. Along with augmented patient care, ML has reached a phase where it can be used to predict an epidemic. It will be an indicator for digital healthcare companies to increase their production rates in advance. Blockchain has immense potential to improve operations related to payment security, prescription authentication, permits exchange and authentication of patients health records, and product tracking. It can aid digital healthcare apps to manage inventory levels and meet surges in demand. Big data analytics can help to reduce the cost of data processing and fast-track clinical trials by examining and determining data points.

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Impact of COVID-19:

The industry witnessed radical changes in terms of consumer behaviour. Some of these are adoption of connected devices, focus on disease prevention, and enhanced patient engagement. Digital and e-services such as e-pharmacy and online consultation platforms developed during the pandemic. COVID-19 has led to the increased acceptance of digital healthcare solutions. Healthcare apps and digital healthcare devices can create a safe interface (advanced note validator for smart safe and deposit applications) between patients and healthcare providers.

The pandemic has promoted the adoption and deployment of digital healthcare devices and apps to establish a safe and connected healthcare ecosystem. Another trend that has become prevalent in recent times is intervention of patients in treatment procedures. People are actively using apps to track health conditions and to have access to information that enables better decision-making. Also, patient engagement has increased in various aspects, including maintaining a healthy lifestyle and boosting immunity

Competitive insights:

Emerging start-ups are participating in the highly competitive Indian digital healthcare market. With high demand, public and private players are aiming at increasing their offering and improving the quality of services, to increase their market share.

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Table of Contents:

Market Overview
Market Definition and Scope
Market Dynamics
Market Industry Analysis
Market, Regional Analysis
Analysis of Leading Companies
Competitive Intelligence
Research Process
Market Analysis and Forecast, By Product Types
What aspects regarding the regional analysis Market are included in this report?

Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

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