What Has Been the Growth of the Digital Transformation In Healthcare Market So Far?
The digital transformation in healthcare market has seen considerable growth due to a variety of factors.
• The digital transformation in healthcare market has grown rapidly in recent years. It will grow from $81.02 billion in 2024 to $97.19 billion in 2025, at a CAGR of 20.0%.
This growth is driven by the increasing demand for asset tracking, a focus on workflow optimization, improved patient safety measures, and enhanced security for patient data.
What Is the Forecasted Market Size and Growth Rate for The Digital Transformation In Healthcare Market Size In The Coming Years?
The digital transformation in healthcare market is expected to maintain its strong growth trajectory in upcoming years.
• The digital transformation in healthcare market is expected to grow rapidly, reaching $198.91 billion by 2029 with a CAGR of 19.6%.
This growth is attributed to a growing global population, increasing patient numbers, rising demand for better patient care, and healthcare system modernization. Major trends include new healthcare apps, AI integration, technological advancements, and product launches.
What Factors Are Driving Growth In The Digital Transformation In Healthcare Market?
The rising adoption of electronic health records (EHRs) is expected to drive the growth of digital transformation in healthcare. EHRs are digital records that provide real-time access to patient information and improve patient care. EHR adoption is driven by improved care, regulations, data sharing, and population health management. For instance, in October 2023, Oxford Academic reported that basic EHR adoption rose from 6.6% to 81.2%, while comprehensive EHR adoption increased from 3.6% to 63.2%. Thus, the growing adoption of EHRs is fueling the digital transformation in healthcare.
What Are The Main Segments Of The Global Digital Transformation In Healthcare Market?
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
Subsegments:
1) By Software: Electronic Health Records (Ehr), Telemedicine Solutions, Healthcare Analytics Software, Clinical Decision Support Systems (Cdss), Patient Management Software, Healthcare Crm Software, Blockchain Solutions For Healthcare
2) By Service: Consulting Services, Implementation Services, Integration Services, Support And Maintenance Services, Training Services, Managed Services
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What Emerging Trends Are Influencing The Growth Of The Digital Transformation In Healthcare Market?
Companies in the digital transformation in healthcare market are adopting digitalization solutions to strengthen their market position. These solutions convert manual processes into digital formats, enhancing efficiency and productivity. For example, in February 2024, Huawei Technologies launched its Medical Technology Digitalization Solution, which uses AI, machine learning, and IoT to improve medical imaging analysis, patient monitoring, and remote healthcare delivery. This solution helps accelerate diagnosis and improve patient outcomes, particularly in the treatment of cancer and cardiovascular diseases.
Who Are the Key Players In The Digital Transformation In Healthcare Market?
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
What Is The Most Dominant Region In The Digital Transformation In Healthcare Market?
North America was the largest region in the digital transformation in healthcare market in 2024. 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.
