Healthcare organizations are increasingly investing on IoT technologies as these technologies enable end users to offer healthcare services to patient in real time via smart devices. This, in turn, is increasing the demand for digital software and solutions in healthcare sector. Also, introduction of eHealth initiatives by governments in major countries such as U.S., Canada, Germany and U.K. to enhance healthcare services is boosting growth of the digital healthcare market. Further, growing adoption of mobile and wearable devices and connected electronic health record systems is expected to fuel market growth over the forecast period. However, data protection and privacy issues associated with deployment of digital health technologies is hampering growth of the market to some extent. Additionally, lack of awareness among healthcare organizations, especially in developing regions is projected to impede adoption of digital healthcare solutions and services.
Report Scope
This report analyzes the global digital healthcare market in terms of type, solution, service, end user, and geography. The global digital healthcare market has been segmented based on type into solution and service. By solution, the market is bifurcated into customer relationship management solution, remote patient monitoring solution, enterprise resource planning solution, and collaboration tools. On the basis of service, the global digital healthcare market is segmented into consulting, implementation & integration, training & support, and outsourcing. Based on end user, the market is classified into government hospital, specialty hospital, and clinics. The global digital healthcare market covers major geographies such as North America, Europe, Asia Pacific, and Rest of World.
Presence of large number of connected healthcare system, solutions and services providers intensify competition in the market. Major players operating in the digital healthcare market are focused towards entering strategic partnership with players operating in other technology domains to enhance their existing technological expertise and product portfolio. Also, acquisition and mergers to expand geographical and industry presence is another major strategy followed by key vendors in the market. Some of the prominent players identified in the digital healthcare market are IBM Corporation, CGI, Accenture plc, SAP SE, Oracle Corporation, GE Healthcare, and Microsoft Corporation.
1.1 Report Description
Purpose of the Report
The purpose of this strategic research study titled “Global Digital Healthcare Market - Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” is to offer industry investors, company executives, and industry participants with in-depth insights to enable them make informed strategic decisions related to the opportunities in the global digital healthcare market.
Target Audience
USP and Key Offerings
The report titled “Global Digital Healthcare Market- Growth, Share, Opportunities, and Competitive Analysis, 2021 – 2029” offers strategic insights into the global digital healthcare market along with the market size and estimates for the duration 2019 to 2029. The said research study covers in-depth analysis of multiple market segments based on type, devices, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading digital healthcare vendors, their SCOT (Strength, Challenges, Opportunities, and Threats) analysis, market positioning, and key developments. Other in-depth analysis provided in the report includes:
Overall, the research study provides a holistic view of the global digital healthcare market, offering market size and estimates for the period from 2019 to 2029, keeping in mind the above mentioned factors.
On the basis of end user, the global digital healthcare market is categorized into following segments:
As of 2020, the government hospital was the largest end user segment, accounting for more than 30% market share. Additionally, the segment is expected to continue its dominance over the forecast period. Introduction of mobile health apps by government hospitals in developed countries such as U.S., Canada, Germany and U.K. is increasing the uptake of digital healthcare solutions and services. Also, governments in developing region is introducing eHealth initiatives in government banks, thus, increasing adoption of digital technologies in government hospitals. However, specialty hospital end user segment is projected to witness significant growth during the forecast period. Increasing adoption of connected healthcare information systems and remote patient monitoring solutions in specialty hospitals is driving growth of the segment. Also, these hospitals are acquiring other specialty hospitals to enhance their presence and offerings. Further deployment of cloud-based healthcare solutions has become a major trend among specialty hospitals in developed region.
On the basis of solution, the global digital healthcare market is categorized into following sub-segments:
As of 2020, connected electronic health record solution was the dominant sub-segment among all types of solutions in the global digital healthcare market, accounting for over 20% of the overall market. This is mainly attributed to increasing demand of advanced EHR solutions among major healthcare organizations across the globe. However, the sub-segment is projected to lose out considerable market share to other emerging solution sub-segment by the end of 2029. Connected healthcare information system solutions is expected to emerge as one of the fastest growing segment by 2029, expand at a significant CAGR of over 16% between 2021 and 2029. Major hospitals and clinics are increasingly inclined towards deploying innovative healthcare information systems to store and transmit patient healthcare records in efficient manner. Thus, boosting growth of the segment throughout the forecast period.
By geography, North America dominated the global digital healthcare market, in terms of revenue contribution in 2020. The region accounted for more than 50% market share in the same year. Additionally, North America is expected to remain dominant regional market over the forecast period. This is mainly attributed to growing adoption of IoT technologies and connected medical devices in healthcare organizations in the region. Also, introduction of favorable government regulation and eHealth initiatives is increasing the uptake of digital healthcare solutions and services. However, the digital healthcare market in Asia Pacific is projected to expand at a significant CAGR between 2021 and 2029. Major growth is coming from emerging Asian countries such as China and India, fueling market growth. Additionally, proliferation of smartphones and wearable devices in these countries is expected to drive market growth.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Digital Healthcare market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
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Solution
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Service
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End User
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
