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.
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.
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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