Global Connected Healthcare Market

Healthcare Market Characteristics

The healthcare market consists of sales of healthcare services and related goods by entities (organizations, sole traders and partnerships) that provide human healthcare services, or that provide veterinary healthcare service to pets, farm animals and animals kept in zoos and wildlife parks, or that manufacture and sell pharmaceutical drugs used to treat diseases, or that manufacture biologics to treat and prevent microbial diseases and cancer, or that manufacture medical equipment which are used in the diagnosis, treatment and monitoring of medical conditions. This market excludes the sales of alternative therapies and natural remedies such as homeopathy, Ayurveda, yoga, acupuncture and sujok therapy.

Healthcare Analytics Market Definition

The healthcare analytics market consists of sales of healthcare analytics and related goods by entities (organizations, sole traders and partnerships) that provide healthcare analytics. Analytics is the systematic use of data and related business insights developed through various analytical models such as statistical, cognitive, contextual, predictive, quantitative and other emerging models to initiate fact based decision making for planning, measurement, management and learning. These analytics may be predictive, descriptive, and prescriptive. With the increasing demand from consumers for improved healthcare quality and enhanced value, the healthcare providers and payers are challenged by requirements to reduce costs, improve outcomes, provide more with less and be more patient-centric.

The telehealth market consists of sales of telehealth services by entities (organizations, sole traders and partnerships) that are engaged in providing telehealth services for the smooth functioning of healthcare services. Telehealth is the use of electronic data and telecommunications technology to promote long-distance medical healthcare services, patient and professional health education, public health, and health management. Technologies comprise streaming media, teleconferencing, web, store-and-forward imaging, terrestrial and wireless communications. The main components of telehealth include software, services, and hardware. Telehealth software allows doctors to communicate with patients and share video and photos. It can be linked to a doctor's electronic health record and scheduling software. The different modes of delivery include cloud-based, on-premise and is used in teleradiology, teleconsultation, teleicu, telestroke, telepsychiatry, teledermatology, other applications. It is used by several sectors such as healthcare providers, patients, payers and others. The global telehealth market size is expected to decline from $80.53 billion in 2021 to $102.42 billion in 2022 at a compound annual growth rate (CAGR) of 27.2%. The change in the telehealth market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The telehealth market is expected to reach $271.69 billion in 2026 at a CAGR of 27.6%. The outbreak of COVID-19 propelled the growth of the telehealth market. Telehealth is recognized to be an effective tool in the fight against the coronavirus pandemic, to prevent the spread of the virus due to traveling to clinics and hospitals. Individuals, both patients and healthcare providers, are increasingly moving towards these online platforms. For instance, Teladoc Health, a virtual healthcare company based in the USA, has seen a huge increase in virtual visits, with an increase of 92% in total visits in the first quarter. Teladoc announced that the US subscription amounted to 43 million users in the first quarter of 2020, up 61% from 27 million users in the same quarter in 2019. Therefore, the outbreak of COVID-19 contributed to the growth of the telehealth market. The data security concern associated with the potential mishandling of patient data is expected to hamper the growth of the telehealth market in the coming years. The healthcare sector is digitizing business management and data management systems and is introducing new technologies to increase performance and minimize costs, but many weaknesses have been identified in this technology in several cases. The healthcare sector is regularly targeted by cyber-criminals who are searching for some tool in their armor to carry out their hacks, and several of these attacks have been successful. According to the Healthcare Protection Vision Study from CyberMDX released in February 2020, nearly 30% of Healthcare Delivery Organizations (HDOs) have suffered a data breach in the last 12 months. Therefore, the security concerns regarding patient data restrain the growth of the telehealth market. Major companies operating in the telehealth sector are focusing on developing advanced solutions for telehealth that help remote monitoring easily. For instance, in April 2020, Royal Philips, a technology company that is engaged in healthcare, lighting, and consumer well-being markets, introduced Avalon CL Fetal and Maternal Pod and Patch for remote monitoring. The goal of the new wireless Avalon CL Fetal and Maternal Pod and Patch is to minimize unwanted physical contacts between physicians and patients, which is of quite a significance during the COVID-19 pandemic. In July 2020, BioTelemetry, Inc., a US-based remote medical technology company focused on the delivery of health information to improve quality of life and reduce the cost of care, acquired On.Demand, a Remote Patient Monitoring (RPM) and coaching platform that is operated by Envolve People Care, Inc., for an undisclosed amount. Through this acquisition, BioTelemetry becomes an exclusive provider to Centene Medicaid members for diabetes RPM services. Envolve PeopleCare, Inc., a US-based company focused on transformative health management through education and empowerment. Major players in the telehealth market are Teladoc Health Inc, American Well, MDLive, Doctor on Demand, GlobalMed, Siemens Healthineers, Cisco Systems, Inc, Medtronic, Dictum Health Inc and Koninklijke Philips N.V. North America was the largest region in the telehealth market in 2021. The regions covered in the telehealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the telehealth market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global telehealth market is segmented - 1) By Component: Software, Services, Hardware 2) By Mode Of Delivery: Cloud-Based, On-Premise 3) By Application: Teleradiology, Tele-Consultation, Tele-ICU, Tele-Stroke, Tele-Psychiatry, Tele-Dermatology, Others 4) By End-User: Healthcare Providers, Patients, Payers, Others

The telemedicine services market consists of sale of telemedicine services and related products. Telemedicine services are health care services provided via video chat, phone calls, and text messages. Patients can use telemedicine for physical examination as well as to ask questions regarding health concerns. The main types of telemedicine services are web-based, cloud-based and on-premises. Cloud-based solutions provide healthcare providers financial, logistical, and functional advantages over in-house client-server systems. Cloud computing provides cost flexibility as well as the potential for cost reductions. The different technologies include store and foreward, real time and is used in teleradiology, telepsychiatry, telepathology, teledermatalogy, telecardiology. The global telemedicine services market size is expected grow from $79.92 billion in 2021 to $103.06 billion in 2022 at a compound annual growth rate (CAGR) of 28.9%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The telemedicine services market is expected to reach $237.19 billion in 2026 at a CAGR of 23.2%. Rising cases of COVID-19 infections across the globe is driving the telemedicine market. As of December 2020, the total number of active cases around the world is around 19,649,961 million, and expected to increase until the availability of vaccines. Telemedicine services will provide healthcare services to the COVID-19 affected people as they cannot step out to avail the services. Rising cases of COVID-19 infections across the globe is expected to boost the demand for the telemedicine services market. Breach in the data makes the patients uncomfortable on sharing personal information that would help the physicians to diagnose the patients' health, affecting the telemedicines market negatively. Telemedicine services are provided online or through calls and might not have much security for storing the data, or in some cases the telemedicine companies may use third-party servers to store the customer data to cut down the maintenance cost, which might lead to easy data breaches. For instance, in 2019, the USA has reported around 41 million healthcare records breached, with a single hacking incident affecting close to 21 million records. Telemedicine is increasingly being accepted and insurance companies and government-regulated health care programs are increasingly covering telemedicine services in their plans. The governments are probing companies to make changes to the policies to cover the services under their schemes. For instance, in March 2020, in response to the corona virus outbreak, the USA government announced that private insurers will be covering the cost of coronavirus testing and telemedicine services for patients. In March 2019, Teladoc health, a leading virtual care provider announced plans to acquire MédecinDirect for undisclosed amount. This acquisition will expand the geographical presence of Teladoc Health and help cover more patients in France. MédecinDirect is a France based telemedicine service provider. Major players in the telemedicine services market are AMD Global Telemedicine Inc, Philips Healthcare, Cisco Systems, Inc, McKesson Corporation, Allscripts Healthcare Solutions Inc., GE Healthcare Ltd., Cerner Corporation, BioTelemetry Inc and Teladoc. North America was the largest region in the telemedicine services market in 2021. Asia Pacific was the second largest region in telemedicine services market. The regions covered in the telemedicine services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the telemedicine services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global telemedicine services market is segmented - 1) By Technology Outlook: Store and Foreward, Real Time 2) By Application: Teleradiology, Telepsychiatry, Telepathology, Teledermatalogy, Telecardiology 3) By Type: Web-Based, Cloud-Based, On-Premises

The digital health market consists of sales of digital health services by entities (organizations, sole traders, and partnerships) that are engaged in providing digital health services for the smooth functioning of healthcare-related services. Digital health refers to the use of information technology/electronic communication tools, services, and procedures to provide healthcare services or to promote improved health care. Only goods and services traded between entities or sold to end consumers are included. The main types of digital technologies are mobile health (mHealth), health information technology, telehealth and telemedicine, and health analytics. Mobile health is the medicine and public health service supported by mobile devices such as mobile phones, tablets, personal digital assistants and the wireless infrastructure. These are used by healthcare providers, healthcare payers, pharmaceutical companies in the areas of cardiology, diabetes, neurology, sleep apnea, and oncology. The global digital health market size is expected to grow from $201.24 billion in 2021 to $252.47 billion in 2022 at a compound annual growth rate (CAGR) of 25.5%. The slow growth trend in the digital health market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The digital health market is expected to reach $596.56 billion in 2026 at a CAGR of 24.0%. The favorable government initiatives in response to COVID-19 are expected to propel the growth of the digital health market in the coming years. Governments around the world have rapidly brought health policies and extra advantages on linked health tools, such as digital health and remote patient monitoring, in response to COVID-19. A survey of US specialists found that owing to COVID-19, almost 80% of them expanded their use of digital health resources. In Medicare, before the pandemic, nearly 13,000 Fee-For-Service (FFS) recipients accessed digital health coverage in one week. Moreover, by the end of April 2020, the use of telehealth rose by 130 times as nearly 1.7 million FFS recipients accessed such services in one week. Therefore, favorable government initiatives in response to COVID-19 drive the growth of the digital health market. The data security concern associated with the potential mishandling of patient data is expected to hamper the growth of the digital health market in the coming years. The healthcare sector is digitizing business management and data management systems and is introducing new technologies to increase performance and minimize costs, but many weaknesses have been identified in this technology in several cases. The healthcare sector is regularly targeted by cyber-criminals who are searching for some tool in their armor to carry out their hacks, and several of these attacks have been successful. According to the Healthcare Protection Vision Study from CyberMDX released in February 2020, nearly 30% of Healthcare Delivery Organizations (HDOs) have suffered a data breach in the last 12 months. Therefore, the security concerns regarding patient data restrain the growth of the digital health market. Major companies operating in the digital health sector are focusing on developing technologically advanced solutions for digital health. For instance, Allscripts released Avenel, a mobile-first, cloud-based electronic health record (EHR) that employs machine learning to minimize the time in medical documentation and boost EHR usability for providers. Avenel was developed on Microsoft Azure and incorporates clinical care trends to offer providers more efficient clinical reporting and medical decision-making. In June 2019, Allscripts Healthcare Solutions, Inc., a US-based company offering healthcare information technology solutions that advance clinical, financial, and organizational outcomes, acquired ZappRx for an undisclosed amount. This acquisition improved the digital health product range of Allscripts and increased its customer base. ZappRx is a US-based digital health company that is engaged in simplifying and modernizing the process required to order specialty medications. Major players in the digital health market are Allscripts Healthcare Solutions Inc., BioTelemetry Inc., eClinicalWorks, iHealth Lab Inc, McKesson Corporation, Koninklijke Philips N.V, AT & T, Cisco Systems, Athenahealth Inc. and General Electric Company. North America was the largest region in the digital health market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the digital health market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The global digital health market is segmented - 1) By Technology: Mobile Health (mhealth), Health Information Technology, Telehealth and Telemedicine, Health Analytics, Others 2) By Application: Cardiology, Diabetes, Neurology, Sleep Apnea, Oncology, Others 3) By End User: Healthcare Providers, Healthcare Payers, Pharmaceutical Companies, Others

The AI in pharma market consists of sales of AI in the pharma and related services that use an automated algorithm to perform tasks that traditionally rely on human intelligence. It can be useful in handling data and presenting results that encourage better decision-making and save human efforts, cost, and time. The market consists of revenue generated by artificial intelligence companies, which are applying in the pharmaceutical industry. Only goods and services traded between entities or sold to end consumers are included. The main technology types of artificial intelligence (AI) in pharma are context-aware processing, natural language processing, querying method, deep learning. Natural language processing is a a branch of artificial intelligence, concerned with giving computers the ability to understand text and spoken words in the same way that humans do. The various drugs produced are small molecule and large molecules that are used for diagnosis, clinical trial research, drug discovery, research and development and epidemic prediction. The global AI in pharma market size is expected to grow from $934.56 million in 2021 to $1,236.09 million in 2022 at a compound annual growth rate (CAGR) of 32.3%. The change in the AI in pharma market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. The AI in pharma market is expected to reach $3626.24 million in 2026 at a CAGR of 30.9%. The growing adoption of artificial intelligence (AI) for clinical trials research is driving its demand for AI in pharma market. To bring a new drug to the market takes on an average 10–15 years approximately and half of this time is consumed during the clinical trial phases of the drug development cycle. Hence, using AI models and analytics tools can accelerate the clinical trial phases, perception of diseases, identify suitable cases and key investigators to inform site selection, and support novel clinical study designs. For instance, in January 2020, Pfizer, an American pharmaceutical company, tied up with a biotech startup Insilico Medicine to identify drug targets. With AI tools Pfizer can speed up drug discovery and reduce drug development costs in the drug development processes. Thus, increasing the adoption of AI for clinical trials research is driving AI in pharma market. Lack of skilled professionals may hamper the growth of AI in pharma market. In 2019, Indeed.com revealed that AI job postings increased 29.1% over the last year and yet, with no uncertainty due to the AI skills gap, searches for AI-related roles decreased by 14.5% over the same period. The shortage of AI skills is seen as a major barrier to the pace of technology’s adoption. In fact, 56% of senior AI professionals thought that a lack of additional, qualified AI workers was the single most important hurdle to be overcome in terms of obtaining the necessary level of AI implementation beyond business operations. Therefore, the lack of skilled professionals may hamper the growth of AI in pharma market. Companies operating in the AI for the pharma market are introducing new AI tools that will be beneficial for the pharma companies and this is a key trend in AI in pharma market. AI helps in quality control, predictive maintenance, waste reduction, design optimization and process automation. For instance, in September 2019, Novartis and Microsoft announced a multiyear alliance that will leverage data & Artificial Intelligence to transform how medicines are discovered, developed and commercialized. Further, Novartis also established an AI Innovation Lab to empower associates to use AI across their business. Therefore, companies operating in the market are continuously focusing on introducing new technologies to survive in the AI in pharma market. In April 2021, Charles River Laboratories, an American pharmaceutical company acquired Distributed Bio Inc. for $83 amount. The acquisition will increase success probability of Charles River Laboratories to deliver high quality, readily formattable antibody. Besides, the acquisition will expand the scientific capabilities of Charles River with innovative and large molecule discovery platform. Distributed Bio is a US-based next generation antibody discovery company with superhuman antibody libraries and integrated antibody technologies. Major players in the AI in pharma market are Novartis, IBM Watson, Microsoft Corporation, Merck, GNS Healthcare., Google, AstraZeneca, Atomwise Inc., Exscientia, Cyclica, NVIDIA Corporation, XtalPi Inc., BenevolentAI, Cloud Pharmaceuticals Inc, BERG LLC, Bayer, Pfizer, Recursion Pharmaceuticals Inc., and Bristol-Myers Squibb. North America was the largest region in the artificial intelligence in pharma market in 2021. The regions covered in the AI in pharma report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the AI in pharma market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global AI in pharma market is segmented - 1) By Technology: Context-Aware Processing, Natural Language Processing, Querying Method, Deep Learning 2) By Drug Type: Small Molecule, Large Molecules 3) By Application: Diagnosis, Clinical Trial Research, Drug Discovery, Research and Development, Epidemic Prediction

The Software as a Service (SaaS) market consists of sales of cloud-based software services. SaaS is a software solution which can be purchased on a subscription or pay per use basis to use an application for organizational purposes and customers can access this application over internet, mainly through a web browser. All the applications data and software are located in the services provider's data center. SaaS allows an organization to run an application at minimal upfront cost and speeds up overall functionality of the organization. The main deployment types of software as a service (SaaS) are public cloud and private cloud. The public cloud is an IT model in which on-demand computing services and infrastructure are managed by a third party and shared by multiple organizations via the public Internet. The software is used by small and medium enterprises (SMEs), large enterprises for customer relationship management (CRM), enterprise resource planning (ERP), human resource management (HRM), manufacturing and operations and supply chain management (SCM). The various end users of the software include manufacturing, retail, education, healthcare, IT and telecom, BFSI and others. The global software as a service (SaaS) market size is expected to grow from $212.20 billion in 2021 to $240.61 billion in 2022 at a compound annual growth rate (CAGR) of 13.4%. The growth in the software as a service (SaaS) market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The software as a service (SaaS) market is expected to reach $374.48 billion in 2026 at a CAGR of 11.7%. Rapid changes in business dynamics in the market are expected to benefit the software as a service (SaaS) market in the forecast period as cloud-based solutions support business operations in changing conditions. Dynamic market conditions include economic uncertainty, competitive rivalry and the increasing adoption of mobile, changing regulations, internet usage and applications. These conditions along with the increasing number of infrastructures and established networks have forced organizations to pursue scalable and flexible solutions such as SaaS and other cloud enabled services to run and supervise their operations in a cost-effective and efficient way. These factors have also compelled companies to outsource applications and prefer cloud computing services like SaaS to reduce their cost burden on infrastructure. Companies that seek services from a third-party vendor are more likely to get better performance, compliance and customer satisfaction at a low cost. For example, Sony Communications aims at delivering innovative products and better experience to its customers using automation and Infosys SaaS solutions. Infosys helped Sony to attain customer loyalty and win competition by providing robust IT solution and design thinking at a low cost which helped Sony to have a competitive edge in the software as a service (SaaS) market. Increasing threats on data security especially on cloud platforms are expected to limit the growth of companies in the software as a service (SaaS) market during the forecast period. The threats on data security include industrial espionage and hacking which resulted in multiple breaches of data security involving public cloud environments. These breaches are mainly because of the negligence the cloud service providers. In addition, many companies lack trust in data security when outsourcing from a third-party vendor. As vendor has access to organization's data, companies fear the misuse of data which might affect organization's reputation. For example, Code Spaces, a former SaaS provider, discontinued its operations as hackers had access to their cloud services and stole all their data due to which Code Spaces faced damages in its reputation, finances and business. The introduction of artificial intelligence is gaining popularity in the software as a service (SaaS) market. Artificial Intelligence (AI) is an area of computer science which focus on the simulation of human intelligence processes by machines. AI in SaaS helps companies to upgrade themselves from time to time with the latest data, create better user experience through predictive analytics, automate the areas where manual functions were required previously and personalize user interface features. For example, Oracle, a big player in SaaS market uses AI and machine learning to overtake salesforce in SaaS. This indicates that AI and machine learning would be differentiating factors for the growth of software as a service (SaaS) market. The General Data Protection Regulation (GDPR) break the split of regulations for the security of personal data in the European Union. It makes provisions to protect personal data and privacy of EU citizens for transactions that happen within EU member states. It also regulates the export of personal data outside the EU. There could be data-subjects that patronize the subscriber that are located in the EU, even if a single SaaS subscriber is based in a non-EU location and the SaaS application is based in a non-EU location. This may cause the subscriber to follow the GDPR regulations. For instance, Intercom, a US-based SaaS provider is shortening its time of storing data on visitors to customers' sites by deleting the visitor data if a visitor has not been seen for nine months to comply with the GDPR. In October 2021, Microsoft Corporation acquired Ally.io for an undisclosed amount. With this acquisition, Ally.io has became a member of the Microsoft Viva family as part of its employee experience platform (EXP) designed to assist businesses in embracing the new digital work life. Ally.io is a US-based SaaS startup. Major players in the Software as a Service (SaaS) market are Salesforce, ServiceNow, Microsoft, Google, Cisco, Slack, Adobe, Oracle, Amazon AWS, DocuSign, Zendesk, Dropbox, ADP, Atlassian Confluence, Shopify, Workday, Hubspot, SAP, IBM, Box, Concur, JIRA, GitHub, GoToMeeting, Twilio, CoupaSoftware, Xero and Zuora. North America was the largest region in the Software as a Service (SaaS) market in 2021. Western Europe was the second largest region in the Software as a Service market. The regions covered in the SaaS market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the Software as a Service (SaaS) market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. The global software as a service (SaaS) market is segmented - 1) By Application: Customer Relationship Management (CRM), Enterprise Resource Planning (ERP), Human Resource Management (HRM), Manufacturing and Operations, Supply Chain Management (SCM) 2) By Deployment Model: Public Cloud, Private Cloud, Hybrid Cloud 3) By Enterprise Size: Small and Medium Enterprises (SMEs), Large Enterprises 4) By End-User: Manufacturing, Retail, Education, Healthcare, IT and Telecom, BFSI, Others

The healthcare e-commerce market consists of sales of healthcare products and their related services. E-commerce is also known as internet commerce or electronic commerce and refers to the sales and purchase of goods and services using the internet. It enables healthcare institutions, hospitals, clinics, and other healthcare facilities to purchase medical equipment and supplies through online channels. Healthcare e-commerce includes buying and selling medical devices and drugs and offers advantages such as convenience, lower prices & discounts, a wide range of products, replacement and refund policies, reviews and feedback, and quality certifications. The main types of healthcare e-commerce are drug and medical devices. A drug refers to a substance that is used to prevent, diagnose, treat, or relieve symptoms of a disease or abnormal condition. The various applications involved are telemedicine, caregiving services, medical consultation that are used in hospitals, clinics, and other end users. The global healthcare e-commerce market size is expected to grow from $261.25 billion in 2021 to $309.62 billion in 2022 at a compound annual growth rate (CAGR) of 18.5%. The global healthcare ecommerce market size is expected to grow to $613.94 billion in 2026 at a CAGR of 18.7%. Increasing consumer spending on medical products coupled with rising internet penetration is to contribute to higher demand for the healthcare e-commerce market in the upcoming years. Growing demand for healthcare products and high internet penetration are enabling people to switch to online products, which in turn are creating higher demand for online healthcare products. According to Centres for Medicare & Medicaid services data 2021, U.S. health care spending has been increased to 9.7 percent in 2020, reaching $4.1 trillion or $12,530 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 19.7 percent. Moreover, according to WeAreSocial’s Stats published in January 2020, the total internet users across the globe 2020 increased to 4.54 billion with a growth of 298 million or 7% in comparison with January 2019. This scenario is anticipated to propel the revenues for the healthcare e-commerce market over the forecast period. Stringent regulations and cybersecurity laws are expected to limit the growth of the healthcare e-commerce market during the period. According to e-retailing laws and regulations in India, e-retailing companies are hit hard by the policy for e-commerce in India including the healthcare e-commerce industry. Moreover, healthcare-related e-commerce platforms are mandated to make their cybersecurity infrastructure resilient and robust. Online pharmacies and telemedicine must comply with the techno legal regulations together with making their websites cyber secure. Therefore, stringent regulations imposed by various country governments are likely to restraint the growth of the healthcare e-commerce industry market over the approaching years. The launch of new healthcare applications for connecting doctors and patients directly is a leading trend driving the healthcare e-commerce market. In December 2019, XcelTech Group, a software and mobile app development company known for delivering excellence in IoT technology, and engaging mobile applications, announced the launch of a new healthcare platform, MyCare Softech Private Limited, a personalized healthcare assistance app. MyCare apps connect patients to doctors through a secure mobile application. Therefore, the launch of new healthcare applications is likely to shape the growth of the healthcare e-commerce market in the near future. In October 2019, Amazon.com, Inc., an American-based multinational technology company acquired digital health startup, Health Navigator, which provides technology and services to digital health companies, for an undisclosed amount. Health Navigator will join the Amazon Care group, which serves as a medical benefit for employees and helps provide care virtually, through a video visit, and with home visits if additional care is needed. This service will eliminate travel and wait time as it connects employees and their family members to a physician or nurse practitioner through live chat or video. Major players in the healthcare e-commerce market are Amazon, Exactcare Pharmacy, Flipkart Pvt. Ltd, Alibaba Group Holding Ltd, eBay Inc, Remdi SeniorCare, Lloyds Pharmacy Ltd, McCabes Pharmacy, Walgreens Boots Alliance Inc, and CVS Health. North America was the largest region in the healthcare e-commerce market in 2021. Asia Pacific was the second largest region in the global healthcare ecommerce market. The regions covered in the global healthcare e-commerce market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the healthcare e-commerce market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The global healthcare e-commerce market is segmented - 1) By Type: Drug, Medical Devices 2) By Application: Telemedicine, Caregiving Services, Medical Consultation 3) By End-User: Hospitals, Clinics, Others