The digital transformation in healthcare from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Digital Transformation In Healthcare Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digital transformation in healthcare market size has grown rapidly in recent years. It will grow from $67.88 billion in 2023 to $81.02 billion in 2024 at a compound annual growth rate (CAGR) of 19.4%. The growth in the historic period can be attributed to increasing demand for asset tracking, growing focus on workflow optimization, the need for improved patient safety, and increased focus on the safety and security of patients.
The digital transformation in healthcare market size is expected to see rapid growth in the next few years. It will grow to $166.33 billion in 2028 at a compound annual growth rate (CAGR) of 19.7%. The growth in the forecast period can be attributed to growing global population, rising number of patients, the rising demand for enhance patient care and safety, adoption of the real-time location systems (RTLS) in healthcare, increasing healthcare spending on a global scale, and governments prioritize modernizing healthcare systems. Major trends in the forecast period include launch of healthcare apps, new product launches, partnerships and collaborations, technological advancements, and integration of artificial intelligence and machine learning.
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Scope Of Digital Transformation In Healthcare Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro-Economic Factors: Assessment of broader economic elements impacting the market.
Digital Transformation In Healthcare Market Overview
Market Drivers –
The increasing adoption of electronic health records (EHRs) is expected to propel the growth of digital transformation in the healthcare market going forward. Electronic health records (EHRs) are digital versions of patients’ paper charts that provide real-time, patient-centered records accessible instantly and securely to authorized users. The adoption of electronic health records (EHRs) is due to better patient care, incentives and regulations, increased data sharing, patient involvement, data analytics, and population health management. Digital transformation in healthcare significantly enhances electronic health records (EHRs) by integrating advanced technologies and improving system functionality, ensuring seamless data sharing and coordinated patient care across different healthcare providers. For instance, in 2021, according to the National Coordinator for Health Information Technology, a US-based government agency, the adoption of certified electronic health records, or EHRs, has increased significantly from 28% of hospitals and 34% of physicians ten years ago to 78% of office-based physicians and 96% of non-federal acute care hospitals in 2021. Therefore, the increasing adoption of electronic health records is driving the growth of the digital transformation in the healthcare market.
Market Trends –
Major companies operating in the digital transformation in the healthcare market are focusing on developing innovative technologies, such as digitalization solutions, to strengthen their position in the market. Digitalization solutions refer to technologies, strategies, and services that transform traditional analog or manual processes into digital formats, enabling organizations to streamline operations, improve efficiency, and enhance productivity. For instance, in February 2024, Huawei Technologies Co. Ltd., a China-based information and communications technology corporation, launched its Medical Technology Digitalization Solution to streamline various healthcare processes. This innovative solution integrates cutting-edge technologies to revolutionize medical practices, offering several unique features. It leverages artificial intelligence (AI) and machine learning algorithms to enhance medical imaging analysis, enabling faster and more accurate diagnosis of conditions such as cancer and cardiovascular diseases. The solution incorporates Internet of Things (IoT) devices and sensors to enable real-time patient monitoring and remote healthcare delivery, improving accessibility and patient outcomes.
The digital transformation in healthcare market covered in this report is segmented –
1) By Solution: Software, Service
2) By Organization Size: Small And Medium Size Enterprises, Large Enterprises
3) By Technology: Artificial Intelligence, Cloud Computing, Big Data And Analytics, Internet of Things, Cybersecurity
4) By End User: Hospitals And Clinics, Pharma Companies, Life Science And Biotech Companies, Healthcare Insurance Providers
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Regional Insights –
North America was the largest region in the digital transformation in healthcare market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital transformation in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the digital transformation in healthcare market are Roche Diagnostics, Midea Group, Medtronic plc, ABB Ltd. , Siemens Healthineers, Philips Healthcare, Stryker Corporation, GE Healthcare, Boston Scientific, Omron Corporation, Intuitive Surgical Inc., KUKA AG, Omnicell Inc., Allscripts Healthcare Solutions, InTouch Health, Kinova Robotics, Blue Ocean Robotics ApS, Vecna Robotics, Stereotaxis Inc., Aethon Inc., Intuition Robotics, Ateago Technology, VGo Communications Inc., ReWalk Robotics Ltd., Futronics Corporation
Table of Contents
1. Executive Summary
2. Digital Transformation In Healthcare Market Report Structure
3. Digital Transformation In Healthcare Market Trends And Strategies
4. Digital Transformation In Healthcare Market – Macro Economic Scenario
5. Digital Transformation In Healthcare Market Size And Growth
……
27. Digital Transformation In Healthcare Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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