Digital Healthcare Market Trends, Analysis, Share and Growth Till 2027

Market Overview

One can experience the increase of big data in the healthcare segment.  This increased usage has facilitated the usage of EHR and EMR systems that provides help in maintaining the health records of the patients electronically. Every aspect is maintained according to strict regulations.  Such growth in the usage of technology has boosted the digital healthcare market.  The investments made in research also drive the Digital Healthcare Market towards progress.  The usage of phones by a physician to provide medical aid has resulted in the expansion of the market.  This concept was very much used in the pandemic situation of COVID’19.  Due to strict lockdowns imposed by the respective governments, people were not allowed to move out.  Even in hospitals, the focus of treatment was only on COVID’19 patients.  All other ailments were treated by physicians through phones. Hence, the mobile applications were used for healthcare needs and this boosted the market growth.  However, the security issues related to the patient’s data and the expenditure incurred during the process are some of the challenges that hamper the market growth.

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 Market Segmentation

The digital healthcare market can be segmented based on technology, components, applications, end-user, delivery mode, and region.  According to the technology category, the market is subdivided into tele healthcare, mHealth and healthcare analytics, and digital healthcare systems.  According to the components category, the market is divided into services, hardware, and software segments.  According to the end-user category, the market is divided into healthcare payers, healthcare providers, and pharmaceutical companies.  According to the delivery mode category, the market is divided into on-premise and cloud-based segments.  The regional category consists of North America, Europe, Asia-Pacific, and the rest of the World segments.  According to the application category, the market is divided into diabetes, cardiology, neurology, oncology, and sleep apnea. 

Regional Classification

According to the application category, the cardiology segment contributes maximum to the market growth. The cloud-based segment of the delivery mode contributes maximum share to the market growth. The expenditure incurred on the infrastructure of the on-premise delivery model is making it less preferable than the cloud-based delivery model. The software segment of the components category contributes to market growth. The healthcare providers’ segment contributes more to the market growth by using smartphones and tablets to improve their communication and information sources of point of care. The North American segment of the regional category dominates the market.

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Industry News

The global analysis of the digital healthcare market states that the market is expected to reach 3,28,887.80 million US dollars at a 26.30% CAGR  by the end of 2025. An effort to innovate better facilities to provide quality health care will always be fruitful. There is always a requirement for huge investment in research and development activities.  A proper awareness has to be created to increase the number of digital healthcare facilities.  Several strategies like joint ventures, mergers, acquisitions, collaborations, acquisitions, etc. are implemented to bring the competitive players together to innovate something beneficial for mankind.  Some of the big players involved in the process are Cisco Systems Inc(US), Qualcomm Technologies Inc.(US.), Cerner Corporation (US), etc.

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