Market Research Future (MRFR) expects the Digital Healthcare Market to procure a dashing growth rate of 26.30% between 2019 and 2025 (review period). The market value by the end of 2025 is expected to be USD 3,28,887.8 Million, adds MRFR.
COVID-19 Analysis
The COVID-19 outbreak has left a debilitating impact on the healthcare sector, given the temporary shutdown of manufacturing facilities and weakened demand. Even as the world is trying to curb the spread of SARS-CoV-2, top companies are striving to bolster their supply chains and accelerate their operations to control further losses. Also, the social distancing practice prevalent worldwide has encouraged patients to go for remote healthcare consultation, which bolsters the need for digital healthcare. Healthcare professional are now offering consultation via video conferencing as well as phone calls, in view of the spread of the pandemic. This is more than likely to benefit the digital healthcare market in the years ahead.
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Segment Analysis
The Global Digital Healthcare Market has been segmented by Technology, Application, Delivery Mode, Components, and End User.
The market, based on technology, has been bifurcated into digital health systems, telehealthcare, mhealth, and healthcare analytics. The digital health systems are further sub-segmented into EHR/EMR and e-prescribing systems. Telehealthcare is further segmented into activity monitoring, remote medication management, LTC monitoring, video consultation. mHealth is further segmented into wearables and mHealth apps. Wearables are furthermore segmented into glucose meters, neurological monitors, sleep apnea monitors, pulse oximeters, BP monitors, and others. mHealth apps is more segmented into fitness apps and medical apps.
Based on application, the digital healthcare market has been segregated into cardiology, diabetes, neurology, sleep apnea, oncology, and others.
Based on delivery mode, the digital healthcare market has been segregated into on-premise and cloud based.
Based on components, the digital healthcare market has been segregated into software, services, and
hardware.
The global digital healthcare market, based on end user, has been segmented into healthcare providers, healthcare payers, pharmaceutical companies, and others.
Regional Analysis
The Global Digital Healthcare Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is likely to hold the largest share of the global digital healthcare market during the assessment period. The high adoption rate of electronic health records (EHRs) and electronic medical records (EMRs), supportive government initiatives and rise in healthcare funding, and rising pressure to improve the quality of care and reduced healthcare costs likely drive the market growth in the American region.
The Europe market established substantial growth in the market due to the presence of major players such as Allscripts Healthcare, LLC (US), BioTelemetry, Inc. (US), Cerner Corporation (US), Cisco Systems, Inc (US), Koninklijke Philips NV (The Netherlands) and others.
Asia-Pacific is estimated to be the fastest-growing region in the global market due to the presence of rapidly developing economies such as China, India, and South Korea and a rise in research & development centers.
The digital healthcare market in the Middle East & Africa is expected to witness gradual growth owing to increasing government support toward the healthcare IT industry in the Middle East, and rapid technological advancements.
Key Players
MRFR recognizes the following companies as the Key Players in the Global Digital Healthcare Market— Allscripts Healthcare, LLC (US), BioTelemetry, Inc. (US), Cerner Corporation (US), Cisco Systems, Inc (US), Koninklijke Philips NV (The Netherlands), McKesson Corporation (US), General Electric Company (US), AT&T Inc.(US), Athenahealth Inc. (US), EClinicalWorks (US), iHealth Lab Inc. (US), Qualcomm Technologies, Inc.(US).
Key Findings of the Study
The Global Digital Healthcare Market is estimated to grow at USD 3,28,887.8 Million by 2025 at a CAGR of 26.30% during the assessment period
The Americas accounted for the largest share of the global digital healthcare market due to the high adoption rate of EHRs and EMRs
Based on technology, the digital health systems segment accounted for the largest market share of 44.4% in 2018
Based on application, the cardiology segment accounted for the largest market share of 22.3% in 2018
On the basis of delivery mode, the software segment accounted for the largest market share of 58.9% in 2018
On the basis of end user, the healthcare providers segment accounted for the largest market share of 40.2% in 2018
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