Global Digital Transformation in Healthcare Market Growth Linked to Increasing eHealth Adoption

Inkwood Research estimates that the Global Digital Transformation in Healthcare Market is anticipated to project a CAGR of 25.51% in terms of revenue during the forecasting years of 2021-2028.

"Browse 75 Market Data Tables and 57 Figures spread over 236 Pages, along with an in-depth TOC on the Global Digital Transformation in Healthcare Market Forecast 2021-2028."

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Digital transformation or digitization is characterized by the adoption of digital technology for transforming services and businesses by substituting the ongoing non-digital and manual processes with digital systems. The current and future changes and shifts, generating the need for faster deployment of digital transformation strategies, are induced by numerous factors. These include societal shifts, new economic realities, and different levels of consumer behavior and expectations.

Increasing eHealth Adoption to Fuel Market Growth

According to the World Health Organization (WHO), the adoption of national electronic health record (EHR) systems has observed a steady growth over the last fifteen years, in addition to a 46% increase in the past five years. As per the study conducted by the European Commission, the adoption of eHealth in EU's primary healthcare surged from 13% to 17%, from 2013 to 2018. This is primarily accredited to the rising implementation of EHRs across EU nations and in several other countries. Besides, general practitioners routinely use clinical decision support functionalities as well as administrative data.

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Product is the Dominating Type

The digitization of processes and products has dynamically transitioned the healthcare sector. Consumers' expectations concerning healthcare services are increasingly being informed by their experiences associated with major digital-born enterprises. Hence, with the aim of 'customer experience,' healthcare companies attempt to integrate the latest technologies into existing information technology architecture and business models in order to enhance their services. As a result, new generation products, combined with solutions to previously faced problems, are set to propel the digital transformation in healthcare market.

Asia-Pacific is the Fastest-Growing Region

The market in Asia-Pacific is anticipated to observe significant growth, with developing regions, such as Japan, China, and India, set to be the key developing regions. Digital transformation in healthcare uses information technology processes, solutions, and services, in order to deliver healthcare programs. Moreover, digitization in healthcare proved to be a highly effective solution amid the COVID-19 pandemic. In this regard, the surging number of patients infected by the novel coronavirus, as well as stringent government regulations, play a crucial role in fueling the region's market growth.

The global digital transformation in healthcare market is set to observe substantial competition among existing players. Hence, leading companies aim to improve and expand their current product portfolio via increased investments, thereby striving to reinforce their existing market position among competitors. Therefore, the market's industrial rivalry is projected to be intense over the forecast years.

Some of the leading companies operating in the market are International Business Machines Corporation, Alphabet (Google), Microsoft Corporation, Apple Inc, etc.

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