Digital Healthcare Market is anticipated to grow at a double digit CAGR from 2019 to 2030

Market Industry Reports (MIR) has published a new report titled “Digital Healthcare Market – Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the digital healthcare market is estimated to be over US$ 257.8 Bn in 2019. It is anticipated to grow at a double digit CAGR from 2019 to 2030. 

The continual growth of the digital healthcare market can be attributed to several factors including the rising prevalence of chronic diseases along with growing geriatric population. Moreover, rising developments in the healthcare sector along with favorable government regulations are anticipated to further contribute to market growth during the forecast period. To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives, acquiring other companies to make their presence stronger in the market. For instance, Allscripts Healthcare Solutions acquired a Boston-based digital health startup, ZappRx Inc. that offers digital solutions to healthcare providers, specialty pharmacies, and pharmaceutical companies to streamline prescriptions and authorization so that patients can get access to specialty medications more quickly.

The increasing adoption of smartphones and tablets by healthcare professionals to track and monitor patient health and history is anticipated to propel market growth during the forecast period. Furthermore, rising incidences of lifestyle-related diseases, increasing healthcare expenditure, and cost-effectiveness of these devices are propelling the market.

 Moreover, devices that are wearable and based on the Information Communications Technologies (ICT) network make it easier for the providers and patients to connect with one another quickly, using calls, SMS, or Internet-based video links. Such advancements aid to decrease healthcare system costs and improve health outcomes of patients, thus playing a key role in market growth. Furthermore, favorable government initiatives and funding along with increasing adoption of digitized systems are set to fuel the digital healthcare market during the forecast period.

Browse key industry insights spread across 230 pages with market data tables & figures & charts from the report, Digital Healthcare Market by Product (Healthcare Information Systems, Wearable Devices), Component (Software, Hardware and Services), End Users (B2C and B2B) – Analysis & Forecast 2019-2030 in detail along with the table of contents:

Electronic Health Records (EHRs) contain lots of sensitive information about patients medical histories as well as valuable financial information. Such information is prone to cyber-attacks due to the interconnected nature of EHRs. Moreover, high capital cost requirements for installing advanced systems may hinder market growth to a certain extent.

North America is anticipated to dominate the market during the forecast period. The region enjoys a substantial market share owing to factors such as swift technological advancements, increased adoption of digital systems, along with favorable government initiatives.

Some prominent players in the global digital healthcare market include Cerner Corporation, Agfa-Gevaert Group, Allscripts Healthcare, LLC, GE Healthcare, McKesson Corporation, Philips Healthcare, Siemens Healthineers AG, Alphabet Inc, Epic Systems Corporation, Truven Health Analytics, among others.

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