PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1174972
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1174972
According to SPER Market Research, the Global Digital Healthcare Market is estimated to reach USD 996.82 billion by 2032 with a CAGR of 18.83%.
The proliferation of smartphones, improved internet connectivity with the advent of 4G/5G, advances in healthcare IT infrastructure, increased need to reduce healthcare costs, rising prevalence of chronic diseases, increasing access to virtual care, are some of the most important factors. To facilitate market growth. Additionally, major players are focusing on launching advanced applications to improve user experience. For example, Teladoc Health has worked with Microsoft over the past few years to integrate its Solo platform with its Microsoft Teams environment to improve access for doctors and patients in virtual medicine. Aging populations and prevalence of chronic diseases are increasing the need for medical professionals in various regions. Telemedicine/telemedicine services help doctors reach more patients. This will improve access to healthcare, improve the use of patient and physician time, and help reduce healthcare costs. People living in remote areas have to travel hours to get treatment, but now the masses can meet their medical needs through telemedicine, supporting the growth of the market.
The COVID-19 outbreak is expected to drive adoption trends for digital health services. The COVID-19 pandemic has put the global healthcare system under stress, driving the demand for digital health alongside the development of remote monitoring services and healthcare IT. The COVID-19 pandemic has sparked a surge in the use of digital technology for resource management, tracking, and population screening applications. In healthcare, several companies have launched collaborative portals to share unidentified patient data from electronic medical records for use in research. Additionally, government agencies such as the WHO are partnering with technology companies to use digital health systems to manage the pandemic more efficiently. Hence, the rapid shift towards digitization during the pandemic is having a positive impact on the outlook for the industry.