Digital Transformation Healthcare Market 2024 | Latest Update, Trends & International News In One Place - Check Out Now
December 9, 2019 by Market-NewsFlash
Global Digital Transformation in Healthcare Market Research Report: By Component (Hardware, Software, Services), by Organization Size (SMEs and Large Enterprises), by Technology (Artificial Intelligence (AI), Cloud Computing, Big Data & Analytics, Internet of Things (IoT) and Cybersecurity), by Business Function (Customer Transformation, Workforce Transformation, Operational Transformation and Product Transformation), End-User (Hospitals, Pharmaceutical Companies and Clinics & laboratories) and by Region (North America, Europe, Asia-Pacific and Rest of the World) — Forecast till 2024
The ‘global digital transformation healthcare market analysis’ is a specialized and in-depth study of the healthcare industry, with a scrupulous focus on the global market trend analysis. Market Research Future digs the reality and states that the global digital transformation healthcare market can garner to reach USD 50.15 billion by 2024, at a CAGR of 14.5% during the forecast period of 2019–2024. The study also provides key statistics on the status of the leading market by focusing on key drivers, market players, key trends and opportunities for the future.
Key Drivers & Challenges
The foremost factors driving the growth of the global digital transformation healthcare market are the introduction of technologies such as AI, IoT, big data, and more. The advances in digital technology have equally led to extensive use in several applications that have been driving the digitalization across the healthcare industry, globally. Since past years, digitalization has transformed the healthcare sector to a great extent with new capabilities. Digitalization has now enabled quick and easy access to information of a patient and can be shared immediately from any device in real-time. Such innovation has let the medical professional take prompt decision about the process of surgery for the patient.
At the same time, various factors that are forwarding the digital transformation in healthcare are mounting demand for increased efficiency and success rate of surgeries. In addition, the growing use of smartphones and mobile apps related to healthcare, fast adoption of cloud services and escalating penetration of IoT devices have also contributed significantly to the market’s growth.
On the other hand, at present, analytics has become an indispensable part of the healthcare industry. It reduces the manual work for the operators with the help of arranging the records as per the requirement. The healthcare analytics provide insights for patient records, hospital management and costs, and diagnosis. Healthcare analytics also offers financial and administrative data with the information that provide better services, aid patient care, and can lead to improving the existing procedure. These factors have also contributed to the market’s growth and are expected to go on rising during the assessment period.
On the flip side, the factor of the mount in digitalization has led to large-scale data generation with patient information, critical information about the organizations, data breaches, and much other crucial details can hamper the growth of the digital transformation healthcare market in its growth period.
The worldwide digital transformation market, as per the study, is segmented by component, organization size, technology, business function, and end-user.
With respect to the component: Hardware, software, and services are the segments.
With respect to organization size: Large enterprises and SMEs are the segments.
With respect to technology: Artificial intelligence (AI), cloud computing, big data & analytics, and internet of things (IoT) are the segments.
In terms of end-user: Hospitals, pharmaceutical companies, and clinics and laboratories are the segments.
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