NEWARK, Del, May 02, 2023 (GLOBE NEWSWIRE) -- In 2023, the global digital transformation in the healthcare market is expected to be worth US$65.2 Billion. The market is expected to reach US$ 253.6 Billion by 2033, with a 14.5% CAGR from 2023 to 2033.
Digital health has become an increasingly prevalent buzzword due to the increasing implementation of digital health platforms such as telehealth, mobile health, and other wireless technologies across healthcare facilities and nursing homes that provide patients with real-time medical treatment.
The impact of digital technology on various sectors such as public, retail, banking, financial services, and insurance (BFSI), and production is tremendous, but it has evolved into a game-changing technology in the medical field as end users' reliance on digital health platforms grows.
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The emergence of healthcare smartphone applications and incentive proposals by government agencies have performed an essential part in the healthcare sector. With this scenario anticipated to continue in the coming years, the healthcare market's digital transformation will likely accelerate. Furthermore, in nations such as Germany, the United States, China, and others, digital healthcare is regarded as an emerging technology.
Key Takeaways:
- Between 2018 and 2022, the digital transformation in healthcare market grew at a CAGR of 21.4%.
- As per the report, the United States accounted for 21.2% of the global market in 2022.
- Over the forecast period, the digital transformation of healthcare in the United Kingdom is expected to grow at a CAGR of 16.1%.
- Over the forecast period, the digital transformation of the Chinese healthcare market is expected to grow at a CAGR of 15.5%.
- The hospitals and clinics segment was expected to account for 39.7% of the market in 2022.
“In the coming years, the market is anticipated to be influenced by a surge in the adoption of cutting-edge and sophisticated technologies across multiple sectors of the healthcare sector.” Comments our Analyst.
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Competitive Landscape:
The digital transformation of the healthcare sector demonstrates a fragmented rivalries landscape, with major brands focusing on forming alliances and working together with local and regional manufacturers and distributors to broaden their international reach.
- HCL Technologies and Alteryx, Inc., a leader in analytic process automation (APA), disclosed a global strategic alliance in February 2021 to assist firms around the world in achieving their analytics automation and digital transformation goals. HCL has also been identified as an Alteryx Elite Alliance Partner as part of this joint venture.
- Wipro Ltd. disclosed a partnership with IBM Corporation in June 2020 to help Wipro customers embark on a seamless and secure hybrid cloud journey. Wipro will create hybrid cloud offerings to assist businesses in managing, migrating, and transforming mission-critical applications and tasks while maintaining safety across private or public cloud and on-premises IT environments.
Key companies profiled in digital transformation in the healthcare industry are IBM Corporation, CGI Group Inc., Accenture PLC, Deloitte LLP, HCL Technologies, AT&T Inc., PWC LLP, GE Healthcare Limited, Atos Syntel, Medtronic Plc., Dell Inc., Cisco Systems Inc., and others.
Key Segments Profiled in the Digital Transformation in Healthcare
By Solution:
- Software
- Service
By Organization Size:
- Small and Medium Size Enterprises
- Large Enterprises
By Technology:
- Artificial Intelligence
- Cloud Computing
- Big Data & Analytics
- Internet of Things (IoT)
- Cybersecurity
By End User:
- Hospitals & Clinics
- Pharma Companies
- Life Science & Biotech Companies
- Healthcare Insurance Providers
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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Table of Content (ToC):
1. Executive Summary | Digital Transformation in Healthcare Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage/Taxonomy
2.2. Market Definition/Scope/Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.6.2. By Key Countries
3.7. Regional Parent Market Outlook
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis (TOC Continue...)
More Valuable Insights:
Future Market Insights, in its new offering, presents an unbiased analysis of the digital transformation in healthcare market presenting a historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of solution, organization size, technology and end user across seven major regions.
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Explore FMI’s Extensive Coverage on Technology Domain:
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