Digital Healthcare Market to grow US$ 7,304.3 Mn by end of 2028, Says Coherent Market Insights

SEATTLE, Nov. 30, 2021 /PRNewswire/ -- According to Coherent Market Insights, The global digital healthcare market is estimated to account for US$ 7,304.3 Mn in terms of value by the end of 2028.

Digital Healthcare is a term that encompasses technologies that integrate healthcare and living. It is a growing field that aims to increase the efficiency of healthcare delivery through technology. These technologies include artificial intelligence, internet of things, virtual reality, and robotics. They also integrate society, including health, and health care programs. This article will discuss what digital healthcare is and how it is different from traditional healthcare. It will also look at how people can improve their health through technology.

Digital healthcare has been extending into other industries, including the field of medicine. As it allows people to access healthcare from anywhere, digital health software will allow clinicians and patients to interact more easily. Furthermore, it can help manage chronic conditions, such as hypertension and diabetes. Further, it can also improve patient interactions and reduce medication errors. Further, it can also help clinicians and hospitals schedule staff more effectively, and will increase patient engagement. The benefits of digital healthcare are many.

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Market Drivers:

Increasing investment in digital healthcare startups is expected to propel growth of the global digital healthcare market over the forecast period. For instance, in November 2021, digital healthcare startup, Midnight Health raised US$ 4 million from NIB, a health insurer.

Moreover, launch of healthcare digital devices is also expected to aid in growth of the global digital healthcare market over the forecast period. For instance, in November 2021, The International Committee of the Red Cross developed a mobile tablet fitted with an electronic application to enable healthcare workers to diagnose and treat common childhood diseases.

Market Opportunities

Increasing funding in digital healthcare is expected to offer lucrative growth opportunities for players in the global digital healthcare market. For instance, in November 2021, Lifen, a France-based startup raised US$ 58 million in funding to work with 1,500 hospitals and 200 eHealth solutions by 2025.

Moreover, launch of new solutions is also expected to offer lucrative growth opportunities for players in the global digital healthcare market. For instance, in October 2021, Bright.md, a telehealth solution provider, launched Navigate by Bright.md, its new digital product for health systems to guide patients to the optimal care option to meet their needs.

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Market Trends

Middle East is expected to witness significant growth in the global digital healthcare market, owing to increasing adoption of digital healthcare in the region.  For instance, in October 2021, Bupa Arabia, a provider of cooperative insurance, partnered with Okadoc, a health-tech company, to enhance customer experience and elevate the level of its digital healthcare services.

Emergence of Covid-19 has led to launch of novel mHealth solutions. For instance, in June 2020, Fitbit launched a new Ready for Work solution that gives employees access to key health metrics from their Fitbit device along with exposure, symptom and temperature logging, to help employers with the unprecedented challenge of returning to the workplace during the COVID-19 pandemic.

Competitive Landscape:

Major players operating in the global digital healthcare market include, AT&T Inc., Accenture PLC, CGI Group Inc., Deloitte LLP, GE Healthcare Limited, IBM Corporation, PWC LLP, and Syntel Inc.

Major players operating in the global digital healthcare market are focused on adopting merger and acquisition strategies to expand their product portfolio. For instance, in November 2021, Doc990 and MyDoctor 01, Sri Lanka-based digital health service providers, announced the merger of their services under the Doc990 brand name.

Market Segmentation:

By Technology

• Healthcare Analytics
• mHealth

By Component

• Software
• Services

By Region

• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

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