The high adoption rate of EHR and EMR is expected to play in favor of the digital healthcare market. The telemedicine sector is also getting boosted from the pressures created by COVID-19. Various updates, growing demand for easier workflow, and a curb in the healthcare cost are impacting the growth of the digital healthcare market. Various digital healthcare market trends like simplified apps are also boosting progress.
The global Digital Healthcare Market Share has been predicted to reach a valuation of USD 3,28,887.8 million by 2025, with a CAGR of 26.30% during the forecast period of 2019 to 2025. Market Research Future (MRFR), in its analysis, reports various factors that can have a substantial impact on the market.
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The digital healthcare industry overview also reveals restraints like the installation cost, the cost of apps, and the lack of trained hands as major drawbacks for the market.
BioTelemetry, Inc. (US), Allscripts Healthcare, LLC (US), Cisco Systems, Inc (US), Cerner Corporation (US), McKesson Corporation (US), Koninklijke Philips NV (The Netherlands), AT&T Inc.(US), General Electric Company (US), EClinicalWorks (US), iHealth Lab Inc. (US), Athenahealth Inc. (US), and Qualcomm Technologies, Inc.(US).
· The global digital healthcare market, as assessed by MRFR for a comprehensive understanding, includes the application, components, delivery mode, technology, and end user. These are segments with substantial market figures and factors to support the global strategic developments of the digital healthcare market.
· By technology, the study on the digital healthcare market can be segmented on the basis of telehealthcare, mhealth, digital health systems, and healthcare analytics. By application, the digital healthcare market includes diabetes, neurology, cardiology, oncology, sleep apnea, and others.
· By delivery mode, the global report for the digital healthcare market can be segmented on the basis of on-premise and cloud-based.
· By components, the digital healthcare market includes software, services, and hardware.
· By end user, the digital healthcare market has been segmented into healthcare payers, pharmaceutical companies, healthcare providers, and others.
North America has a bigger market due to the advancement in its technology, support from infrastructure, funding solutions, and others. The US and Canada would lead the regional market. In Europe, the traction will be provided by countries like France, Germany, the UK, and others. The Asia Pacific region would benefit from contributions made by India, China, Japan, South Korea, and others.
The recent COVID-19 pandemic has led to a substantial rise in the digital healthcare market. This is primarily due to the growing influence of telemedicine. Social distancing is the new norm and people are supposed to avoid public gathering. This is why doctors are taking the telemedicine route where they can treat patients from a distance without creating a scope for any kind of virus spread.
NOTE : Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.