Digital Healthcare Market to Reach USD 9,886.1 Million by 2019
Category: IT Software & Service | Published in: Jan 2020 | Pages : 182 | Price (Single User License): US$ 4250
Global Digital Healthcare Market Revenue is Projected to Increase Around 2X By The End of 2027 As Compared To That in 2020; Government Hospitals and General Hospitals Across The Globe Reflect Huge Growth Potential for Key Players Providing Digitization Solutions And Services for Health Care Related Services, During The Forecast Period From 2021-2027
DataCube Research offers market analysis, trends, future outlook, market size and forecast for Digital Healthcare Market in its report titled “Digital Healthcare Market: Global Industry Analysis, Size and Forecast, 2018-2027”.
The digital healthcare market has been bifurcated on the basis of type, end-user and region. On the basis of type, the digital healthcare market has been segmented into solution and service. The solution segment dominated the digital healthcare market and accounted for over 58% market share in 2019, and is projected to expand at double-digit CAGR similar to that expected for the digital healthcare market over the forecast period. The solution segment has been further sub-segmented into billing solution, connected electronic health record (EHR), healthcare information system, ERP, CRM, remote patient monitoring solution and collaboration tools. Revenue contribution share by healthcare information system segment to the digital healthcare market is projected to increase around 8% by the end of 2027 as compared to that in 2019.
The service segment is sub-segmented into application development, integration service, consulting service, and business process outsourcing (BPO). Among services, integration service segment dominated the digital healthcare market in 2019, followed by business process outsourcing segment. In addition, both segments collectively represented more than 65% share of overall digital healthcare market in 2019.
End-user vertical in the digital healthcare market includes government hospital, general hospital, specialty hospital, and clinics.
eHealth initiatives by government, increasing per capita healthcare spending are some of the major factors that are accelerating growth of the digital healthcare market. In contrast, data security & privacy issues and high initial investment are some of the factors that are projected to impede the market growth over the forecast period..
The digital healthcare market report offers detailed analysis and insights on the growth potential of the digital healthcare market and covers trends, various driving factors, and restraints that can affect the market growth in the region.
By region, the digital healthcare market has been segmented into seven major regions such as North America, Western Europe, Japan, Asia Pacific excluding Japan (APEJ), Eastern Europe, Latin America, Middle East and Africa (MEA). In 2019, North America digital healthcare market represented more than 50% share of overall digital healthcare market and is projected to continue its dominance throughout the forecast period. This is attributed to supportive government plans, and regulation regarding digitalization of health care services in the region.
Digital Healthcare Market Competition Analysis
Some of the key players analyzed in digital healthcare market are IBM Corporation, Accenture PLC, AT&T Inc., CGI Group Inc., PricewaterhouseCoopers LLP (PwC), GE Healthcare Limited, Syntel Inc. and Deloitte Consulting LLP among others. Strong presence of large number of players providing digital solutions & services for healthcare related services has created stiff competition in the digital healthcare market.
Key players operating in the digital healthcare market are aimed towards entering into partnership with key technology experts in order to enhance their technological capabilities and gain competitive advantages. For example in 2015, GE healthcare entered into partnership with OneMedNet Corporation in order to enhance its expertise in healthcare information exchange (HIE) technologies so as to allow healthcare organizations to share patient information safely and efficiently.