Digital Healthcare Market to Reach USD 296590 Million by 2027 at a CAGR of 6.7% | Valuates Reports
BANGALORE, India, July 12, 2021 /PRNewswire/ -- The Digital Healthcare Market is Segmented by Type (Telehealthcare, Health Analytics, Others), by Application (B2B Category, B2C Category). The report covers global opportunity analysis and industry forecasts from 2021 to 2027. This report is published in Valuates Reports under Health Category.
The global Digital Healthcare market size is projected to reach USD 296590 Million by 2027, from USD 182820 Million in 2020, at a CAGR of 6.7% during 2021-2027.
Major factors driving the growth of digital healthcare market are:
- Increasing need for remote patient monitoring and easy access to physicians is expected to increase adoption of telehealth thereby driving the growth of the Increasing need for predicting disease outbreaks, circumvent preventable illnesses and generally improving the quality of care and life of patients is expected to drive the digital healthcare market.
- Need for maintaining accurate, up-to-date, and complete information about patients at the point of care is expected to drive the digital healthcare market. ( Electronic health Record) enables quick access to patient records for more coordinated, and efficient care.
- Significant development in the number of healthcare apps that can enable more effective and efficient communication between healthcare service providers and patients residing in remote places.
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TRENDS INFLUENCING THE GROWTH OF DIGITAL HEALTHCARE MARKET
Digital healthcare tools can provide a more holistic view of patient health through access to data and giving patients more control over their health. This feature is expected to drive the growth of the digital healthcare market.
Through regular monitoring and tracking of symptoms, digital healthcare technologies assist individuals in self-managing their health issues. More crucially, it's a tool for detecting substantial changes in a patient's disease progression early on. For example, patients with respiratory diseases and those classed as "at risk" can benefit greatly from digital health platforms. This feature is expected to drive the growth of the digital healthcare market.
Increase in the number of people with long-term care needs, such as Alzheimer's disease, cancer, diabetes, and cardiovascular disease (CVD) is expected to further propel the growth of the digital healthcare market. Chronic or long-term diseases are a significant financial burden on hospitals and clinics, which is predicted to increase demand for tele-healthcare services such as remote monitoring and physician consultation for LTC patients.
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DIGITAL HEALTHCARE MARKET SHARE ANALYSIS
Based on type, the healthcare analytics segment is expected to be the most lucrative segment during the forecast period. Increasing government pressure to minimise treatment costs and other associated expenses resulting from hospital workflow inefficiencies and medical product defects is driving the use of big data in the healthcare industry, fueling the development of healthcare analytics tools and solutions.
Based on region, North America is expected to be the most lucrative region. Rising healthcare expenditures, developments in coverage networks, more smartphone penetration, and an increase in demand for tele-healthcare services are all driving market expansion in the region.
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DIGITAL HEALTHCARE MARKET SEGMENTATION
Digital Healthcare Market segment by Type, the product can be split into
- Telehealthcare
- Health Analytics
- Others.
Digital Healthcare Market segment by Application, split into
- B2B Category
- B2C Category.
Digital Healthcare Market segment by Regions/Countries, this report covers
- North America
- Europe
- Asia-Pacific
- ROW
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SIMILAR REPORTS
- Telehealth Market size is estimated to reach USD 70.19 Billion by 2026, from USD 26.4 Billion in 2020 and registering a CAGR of 17.7% during the forecast period.
- Healthcare Analytics Market size to grow from USD 11.461 Billion in 2019 to USD 40.781 Billion by 2025, at a compound annual growth rate (CAGR) of 23.55%.
- Digital Therapeutics Market size was valued at USD 2.88 Billion in 2019 and is expected to reach USD 13.80 Billion by 2027 with a CAGR of 20.5% during the forecast period.
- The eHealth market size was valued at USD 74,476 Million in 2019, and is projected to reach USD 2,30,640 Million by 2027 at a CAGR of 14.5% from 2020 to 2027.
- Digital Health market size is projected to reach USD 95430 Million by 2026, from USD 77240 Million in 2020, at a CAGR of 22.4% during 2021-2026.
- Digital PCR Market generated USD 508.8 Million in 2020, and is projected to reach USD 1,139.9 Million by 2028, growing at a CAGR of 9.1% from 2021 to 2028.
- Medical Equipment Maintenance Market size will grow from USD 34.79 Billion in 2020 to USD 60.16 Billion by 2026, with a CAGR of 9.56% during the forecast period.
- Healthcare IT Market size was evaluated at USD 125 Billion in 2015, and is estimated to reach USD 297 Billion by 2022, with a CAGR of 13.2%.
- AI in Healthcare Market size was valued at USD 4,836.87 Million in 2019 and is projected to reach USD 99,491.58 Million by 2027, registering a CAGR of 42.8% from 2020 to 2027.
- mHealth Apps Market size is projected to reach USD 101,550 Million by 2026, from USD 30,160 Million in 2019, at a CAGR of 18.4%.
- Digital Twin Technology Market size is projected to reach USD 26920 Million by 2027, from USD 4568.9 Million in 2020, at a CAGR of 32.4% during 2021-2027.
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- Healthcare 3D Printing Market
- Picture Archiving and Communication System (PACS) Market
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