Impact of Covid-19 on Digital Healthcare Market Overview:
The recent COVID-19 pandemic has led to a substantial rise in the digital healthcare market. This is primarily due to the growing influence of telemedicine. Social distancing is the new norm and people are supposed to avoid public gathering. This is why doctors are taking the telemedicine route where they can treat patients from a distance without creating a scope for any kind of virus spread. The Global Digital Healthcare Market has been predicted to reach a valuation of USD 3,28,887.8 million by 2025, with a CAGR of 26.30% during the forecast period of 2019 to 2025.
Market Research Future (MRFR), in its analysis, reports various factors that can have a substantial impact on the market. The digital healthcare market overview also reveals restraints like the installation cost, the cost of apps, and the lack of trained hands as major drawbacks for the market.
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The high adoption rate of EHR and EMR is expected to play in favor of the digital healthcare market. The telemedicine sector is also getting boosted from the pressures created by COVID-19 impact. Various updates, growing demand for easier workflow, and a curb in the healthcare cost are impacting the growth of the digital healthcare market. Various digital healthcare market trends like simplified apps are also boosting progress.
Digital Healthcare Market Segmentation:
The global digital healthcare market, as assessed by MRFR for a comprehensive understanding, includes the application, components, delivery mode, technology, and end user. These are segments with substantial market figures and factors to support the global strategic developments of the digital healthcare market.
By application, the digital healthcare market includes diabetes, neurology, cardiology, oncology, sleep apnea, and others.
By delivery mode, the global report for the digital healthcare market can be segmented on the basis of on-premise and cloud-based.
By technology, the study on the digital healthcare market can be segmented on the basis of telehealthcare, mhealth, digital health systems, and healthcare analytics. The digital health systems can be sub-segmented into EHR/EMR and e-prescribing systems. The telehealthcare segment has been studied on the basis of remote medication management, LTC monitoring, activity monitoring, and video consultation. The mHealth segment includes wearables and mHealth apps. The wearables segment has neurological monitors, sleep apnea monitors, glucose meters, BP monitors, pulse oximeters, and others. MHealth apps have an analysis of fitness apps and medical apps. The digital healthcare market size by technology is getting high revenue.
By components, the digital healthcare market includes software, services, and hardware.
By end user, the digital healthcare market has been segmented into healthcare payers, pharmaceutical companies, healthcare providers, and others.
Digital Healthcare Market Regional Insights:
North America has a bigger market due to the advancement in its technology, support from infrastructure, funding solutions, and others. The US and Canada would lead the regional market. In Europe, the traction will be provided by countries like France, Germany, the UK, and others. The Asia Pacific region would benefit from contributions made by India, China, Japan, South Korea, and others.
Digital Healthcare Market Competitive Landscape:
The global digital healthcare market would enjoy contributions made by several companies like BioTelemetry, Inc. (US), Allscripts Healthcare, LLC (US), Cisco Systems, Inc (US), Cerner Corporation (US), McKesson Corporation (US), Koninklijke Philips NV (The Netherlands), AT&T Inc.(US), General Electric Company (US), EClinicalWorks (US), iHealth Lab Inc. (US), Athenahealth Inc. (US), and Qualcomm Technologies, Inc.(US). These companies are getting substantial backing from various strategic moves like mergers, acquisitions, collaborations, hike in investment for improvement in the research and development sector, branding, app creation, marketing strategies, and others. MRFR’s acknowledgment of the latest proceedings is expected to assess the global market in detail.
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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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