Digital Healthcare Market-Overview
The fast-paced adoption of big data in the healthcare sector is estimated to enhance the digital healthcare market in the forecast period. The market’s report is efficiently analyzed as per MRFR, which provides outlooks for the global markets. The market is estimated to gain a 26.30% CAGR and generated an income of USD 3,28,887.8 Million in the forthcoming period.
The need to ensure the smooth functioning of healthcare-related processes is estimated to provide significant traction to the digital healthcare market in the future. The expansion of the EHR and EMR systems in the current healthcare system is forecasted to bolster the digital healthcare market.
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Digital Healthcare Market Segmental Analysis
The segmental analysis of the digital healthcare market is conducted on the basis of technology, application, delivery mode, component, end user, and regions. The technology segment of the digital healthcare market consists of telehealthcare, digital health systems, mhealth, and healthcare analytics. The application segment of the digital healthcare market consists of diabetes, neurology, sleep apnea, oncology, and cardiology. The delivery mode segment of the digital healthcare market consists of on-premise and cloud-based. The components segment of the digital healthcare market consists of services, software, and hardware. The end user segment of the digital healthcare market consists of healthcare payers, healthcare providers, and pharmaceutical companies. The region segment of the digital healthcare market consists of Africa, Europe, North America, Asia-Pacific, Africa, the Middle East, and Latin America.
Digital Healthcare Market Regional Overview
The regional overview of the digital healthcare market includes regions such as Africa, Europe, North America, Asia-Pacific, Africa, the Middle East, and Latin America. Given enormous healthcare spending and a high acceptance rate of healthcare information technology, the digital healthcare industry in America is anticipated to be the largest in the near future. The digital health market in the United States has been fast developing as a result of the country’s high healthcare spending, and the growing desire to reduce these costs is spurring the demand for digital healthcare. In light of the enormous push to lower healthcare costs and the escalation in technology advancements, Europe has been the second-largest gainer in the global digital healthcare market. Due to substantial improvements in healthcare infrastructure and a growing pool of healthcare IT vendors, Asia Pacific is on course to have the fastest growth rate in the next few years.
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Digital Healthcare Market Competitive Analysis
The reformative trends that are forming the global market are anticipated to lift the market. In the following months, the creation of strong delivery chains is expected to accelerate developments. The industry’s growth is expected to be fueled by market businesses’ investments in building strong e-commerce and retail channels. The use of technology and a strategy-based approach is likely to increase the likelihood of future success. Many government agencies are providing fiscal stimulus to help their national markets recover, which is expected to boost global demand. The increase in the rate of innovation is expected to open up new market opportunities. The signing of several international trade agreements is expected to boost the expansion of the market’s economy. The market’s heightened focus on high-revenue decision-making is expected to hasten its return to normalcy in the coming months. Organizations want to invest in technology and innovation for the post-COVID-19 future and need to maintain resilience for the next major upheaval. However, many companies are yet to address the delayed risks and potential vulnerabilities introduced during the pandemic’s growth ability.
The central contenders in the digital healthcare market are BioTelemetry Inc. (US), Cerner Corporation (US), McKesson Corporation (US), Cisco Systems Inc (US), Koninklijke Philips NV (The Netherlands), General Electric Company (US)., AT&T Inc. (US), Athenahealth Inc. (US), Allscripts Healthcare LLC (US), EClinicalWorks (US), iHealth Lab Inc. (US) and Qualcomm Technologies Inc. (US).
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Digital Healthcare Industry Updates:
Aug 2021 Hinduja Global Solutions Ltd (HGS), the Hinduja Group’s business process management arm, has signed a definitive deal to sell its healthcare services division to funds linked with Baring Private Equity Asia (BPEA), Asia’s largest private alternative investment group. The acquisition, which has a $1.2 billion enterprise value, is scheduled to close in 90 days, pending shareholder and other regulatory approvals.
July 2021 The Apollo Hospitals Group’s digital arm and Microsoft India have partnered to launch an enterprise solution within the Microsoft Work Suite. It was put to the test for three months in a pilot program for Microsoft India employees. Organizations have been looking for digital healthcare solutions to serve their employees and families in light of the approaching Covid third wave. Employees may now obtain medical teleconsultation, vaccine booking, pharmacy, diagnostic tests, electronic health records, and wellness programs with only a click of a button due to the Apollo and Microsoft connection.
Table of Content
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 SCOPE OF THE STUDY 20
2.2 RESEARCH OBJECTIVE 20
2.3 LIST OF ASSUMPTIONS 21
3 RESEARCH METHODOLOGY
4 MARKET DYNAMICS
4.1 OVERVIEW 31
4.2 DRIVERS 33
4.2.1 HIGH ADOPTION RATE OF EHRS AND EMRS 33
4.2.2 GOVERNMENT INITIATIVES AND RISE IN HEALTHCARE FUNDING 33
4.2.3 RISING PRESSURE TO IMPROVE THE QUALITY OF CARE AND REDUCE HEALTHCARE COSTS 34
4.3 RESTRAINTS 35
4.3.1 PRIVACY- AND DATA SECURITY-RELATED CONCERNS 35
4.3.2 LACK OF TRAINED AND SKILLED RESOURCES 35
4.4 OPPORTUNITIES 36
4.4.1 NEED FOR DIGITAL HEALTHCARE SERVICES IN EMERGING ECONOMIES 36
5 MARKET FACTOR ANALYSIS
5.1 PORTER’S FIVE FORCES MODEL 37
5.1.1 BARGAINING POWER OF SUPPLIERS 38
5.1.2 BARGAINING POWER OF BUYERS 38
5.1.3 THREAT OF NEW ENTRANTS 38
5.1.4 THREAT OF SUBSTITUTES 38
5.1.5 INTENSITY OF RIVALRY 38
5.2 VALUE CHAIN ANALYSIS 39
5.2.1 INPUTS 40
5.2.2 SOFTWARE DEVELOPMENT PROCESS 40
5.2.3 OUTPUT 40
5.2.4 MARKETING AND DISTRIBUTION 40
5.2.5 POST-SELLING SERVICES 40
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