The global digital transformation in healthcare market is expected to register a CAGR of 14.5% during the forecast period of 2019–2024. There are various factors contributing to the growth of digital transformation in healthcare, such as, the increasing requirement for a secured path among health organizations, hospitals, clinics doctors, companies and others for information sharing, which has become convenient with the advent of digital transformation. Moreover, the increasing generation of data by pharmaceutical companies, hospitals, medical research organization has also led to market growth. There are various benefits of digital transformation in healthcare; for instance, it protects private, public and other critical information with the help of integration of cybersecurity solutions. Additionally, AI is currently being used in the detection of diseases such as breast cancer with more accuracy and precision at its early stage as compared to traditional mammograms. According to the American Cancer Society, AI is capable of providing 30 times faster results with 99% accuracy which reduces the need for unnecessary biopsies.
The global digital transformation in the healthcare market is estimated to grow at a significant rate in the future. The geographical analysis of digital transformation in the healthcare market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America dominates the global digital transformation in the healthcare market, by region, due to the early adoption of the digital transformation across healthcare industry. and increasing requirement of these solutions for securing the authenticated information. Additionally, the increasing online tractions among the healthcare enterprises and users is also increasing in the region also drives the growth of the market. The market in North America has been further segmented based on countries into the US, Canada, and Mexico. The US holds the largest market share in North America, followed by Canada and Mexico. The US dominates in the region due to the presence of various key vendors such as IBM Corporation, Microsoft Corporation, Dell EMC and others.
The Europe is has the second largest market share in digital transformation due to presence of various countries such as UK, Germany, France, Italy, Norway, and others which are adoting new technologies such AI, IoT technology, analytics in healthcare and other technology and solution for to improve their healthcare facilities, which leads to fuel the market growth.
Moreover, Asia-Pacific is considered to be the fastest-growing region due to the rapid adoption of digitalization in the region by developing economies such as India, China, South Korea, and others. The increasing adoption of digital technologies such as AI, AR, VR, blockchain, and others in the region is also considered to drive the market. Moreover, various healthcare companies are using cloud computing to secure and share their data securely. Moreover, the government is also investing in digital transformation of various countries, which eventually is expected to fuel the growth of the market.
The prominent players in the market of global digital transformation in healthcare are IBM Corporation (US), Microsoft Corporation (US), SAP SE (Germany), Dell EMC (US), Google LLC (US), Accenture PLC (Ireland), CA Technologies (US), Cognizant (US), Adobe Systems (US), Oracle Corporation (US), Hewlett Packard Enterprise (US), HCL Technologies (India), TIBCO Software (US), Marlabs (US), Equinix (US) among others.
Digital Transformation in the Healthcare Market is estimated to grow at a 14.5% CAGR Over the…
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