Press release
Digital healthcare Market Overview, Segmentation, Application, Technology and Analysis Report Forecast to 2030
Digital healthcare market is expected to reach USD 1.3 trillion at 23.7% CAGR during the forecast period 2022-2030
Top Drivers and Major Deterrents
Digitization has facilitated a large-scale transformation within the healthcare industry, helping in efficiently and accurately streamlining and managing all operations. Digital healthcare as a whole help manage feedback procedures, post-recovery care, along with preventive care. With technical advancements in artificial intelligence, digital healthcare has emerged as the perfect tool for fast and easy automation of a number of healthcare-based operations and procedures.
Surge in internet connectivity along with the escalating use of smartphones as well as mobile platforms worldwide accelerates the adoption of digital healthcare. Rising smartphone ownership has elevated the number of people opting for online healthcare services, broadening the applications of digital healthcare.
The digital healthcare market also stands to benefit from the surge in big data within the healthcare industry, escalating adoption of EHR and EMR systems, and the mounting number of government mandates. In numerous countries worldwide, specialists as well as physicians are based in urban areas, which leaves the patients living in rural locations with no access to on-time medical services. The issue is addressed by telecloud, which lets the healthcare professionals to offer fast and effective treatment to patients regardless of the distance, and that too at an affordable rate.
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Market Segmentation
The digital healthcare market, depending on technology, caters to mhealth, telehealthcare, digital health systems, as well as healthcare analytics. mHealth is at present a highly popular technology in the digital healthcare market, thanks to the rising internet penetration, booming smartphone sales worldwide, and the host of advanced mHealth apps for the patients to choose from across the globe.
Applications of digital healthcare include neurology, cardiology, diabetes, sleep apnea, oncology, and others. The cardiology category can take the highest position in the years to come, as a result of the soaring incidences of lifestyle-based ailments that cause cardiac disease, and the amplified focus on preventing and recovery of the same. Series of developments in the digital healthcare landscape has raised the demand for various patient-focused monitoring services as well as solutions, within the cardiology field.
Some of the major delivery modes include on-premise along with cloud based. The highest growth will be seen by the cloud-based delivery model in the next couple of years.
The main components covered in the study include services, software, and hardware. With the drastic rise in the use of digital healthcare software such as healthcare analytics, fitness and medical apps, and EHRs, will foster the growth of the software segment in the years ahead.
Top industry end users profiled in the analysis study include pharmaceutical companies, healthcare providers, healthcare payers, and more. Several healthcare providers are making extensive use of smartphones, tablets and various electronic devices for numerous functions, for better communication and improved point of care medical services. This will mean that the healthcare providers segment should procure the top position in the ensuing years.
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Regional Status
America can project maximum growth in the years ahead, and attain the highest spot in the global industry. The region's significant position can be accredited to the high awareness level among people about the latest technologies and the rising popularity of modern digital tools such as virtual assistants. Large-scale spending on Artificial Intelligence, escalating cases of chronic disorders that require quick response from the medical fraternity and the expanding tech-savvy population benefit the healthcare chatbots market as well.
Asia Pacific offers a host of growth opportunities to the digital healthcare industry and should progress at the fastest rate in the years to come. Frequent technological advances along with the stunning expansion rate of the healthcare sector have raised the awareness as well as the adoption of various digital healthcare services especially in China, Japan, and India.
Top Firms
Koninklijke Philips NV (The Netherlands), Allscripts Healthcare LLC (US), Qualcomm Technologies Inc. (US), iHealth Lab Inc. (US), Athenahealth Inc. (US), BioTelemetry Inc. (US), McKesson Corporation (US), AT&T Inc. (US), Cisco Systems Inc (US), EClinicalWorks (US), Cerner Corporation (US), General Electric Company (US), are the eminent digital healthcare services developers in the worldwide market.
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