Digital Transformation in Healthcare Market Highlights
The Global Digital Transformation in Healthcare Market is expected to register a CAGR of 14.5% during the forecast period of 2019–2024.
There are various factors contributing to the growth of digital transformation in healthcare, such as, the increasing requirement for a secured path among health organizations, hospitals, clinics doctors, companies and others for information sharing, which has become convenient with the advent of digital transformation. Moreover, the increasing generation of data by pharmaceutical companies, hospitals, medical research organization has also led to market growth. There are various benefits of digital transformation in healthcare; for instance, it protects private, public and other critical information with the help of integration of cybersecurity solutions. Additionally, AI is currently being used in the detection of diseases such as breast cancer with more accuracy and precision at its early stage as compared to traditional mammograms. According to the American Cancer Society, AI is capable of providing 30 times faster results with 99% accuracy which reduces the need for unnecessary biopsies.
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MRFR recognizes the key players in the global digital transformation in healthcare market as
- IBM Corporation (US)
- Microsoft Corporation (US)
- SAP SE (Germany)
- Dell EMC (US)
- Google LLC (US)
- Accenture PLC (Ireland)
- CA Technologies (US)
- Cognizant (US)
- Adobe Systems (US)
- Oracle Corporation (US)
- Hewlett Packard Enterprise (US)
- HCL Technologies (India)
- TIBCO Software (US)
- Marlabs (US)
- Equinix (US) among other.
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities emphasize strengthening their reach to the customers.
Digital Transformation in Healthcare Industry – Regional Analysis
The global digital transformation in the healthcare market is estimated to grow at a significant rate in the future. The geographical analysis of digital transformation in the healthcare market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America dominates the global digital transformation in the healthcare market, by region, due to the early adoption of the digital transformation across healthcare industry. and increasing requirement of these solutions for securing the authenticated information. Additionally, the increasing online tractions among the healthcare enterprises and users is also increasing in the region also drives the growth of the market. The market in North America has been further segmented based on countries into the US, Canada, and Mexico. The US holds the largest market share in North America, followed by Canada and Mexico. The US dominates in the region due to the presence of various key vendors such as IBM Corporation, Microsoft Corporation, Dell EMC and others.
The Europe is has the second largest market share in digital transformation due to presence of various countries such as UK, Germany, France, Italy, Norway, and others which are adoting new technologies such AI, IoT technology, analytics in healthcare and other technology and solution for to improve their healthcare facilities, which leads to fuel the market growth.
Moreover, Asia-Pacific is considered to be the fastest-growing region due to the rapid adoption of digitalization in the region by developing economies such as India, China, South Korea, and others. The increasing adoption of digital technologies such as AI, AR, VR, blockchain, and others in the region is also considered to drive the market. Moreover, various healthcare companies are using cloud computing to secure and share their data securely. Moreover, the government is also investing in digital transformation of various countries, which eventually is expected to fuel the growth of the market.
The global digital transformation market has been segmented based on component, organization size, technology, bussiness fuction,end-user and region.
By component, the market has been segmented into hardware, software, and services.
By organization size, the market has been segmented into large enterprises and SMEs.
By technology, the market has been segmented into artificial intelligence (AI), cloud computing, big data & analytics, and internet of things (IoT).
By Business Function, the market has been segmented into customer transformation, workforce transformation, operational transformation, and product transformation
By end-user, the market has been segmented into hospitals, pharmaceutical companies, and clinics and laboratories.
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Table Of Contents
1. Executive Summary
2. Scope Of The Report
2.1. Market Definition
2.2. Scope Of The Study
2.2.1. Research Objectives
2.2.2. Assumptions & Limitations
2.3. Markets Structure
3. Market Research Methodology
3.1. Research Process
3.2. Secondary Research
3.3. Primary Research
3.4. Forecast Model
4. Market Landscape
4.1. Porter’s Five Forces Analysis
4.1.1. Threat Of New Entrants
4.1.2. Bargaining Power Of Buyers
4.1.3. Threat Of Substitutes
4.1.4. Intensity Of Rivalry
4.1.5. Bargaining Power Of Suppliers
4.2. Value Chain/Supply Chain Of The Global Digital Transformation In Healthcare Market
LIST OF TABLES
Table1 Global Digital Transformation In Healthcare Market, By Country, 2018-2024
Table2 North America: Digital Transformation In Healthcare Market, By Country, 2018–2024
Table3 Europe: Digital Transformation In Healthcare Market, By Country, 2018–2024
Table4 Asia-Pacific: Digital Transformation In Healthcare Market, By Country, 2018–2024
Table5 South America: Digital Transformation In Healthcare Market, By Country, 2018–2024
Table6 North America: Digital Transformation In Healthcare Market, By Country
LIST OF FIGURES
Figure 1 Global Digital Transformation In Healthcare Market Segmentation
Figure 2 Forecast Methodology
Figure 3 Porter’s Five Forces Analysis Of Global Digital Transformation In Healthcare Market
Figure 4 Value Chain Of Global Digital Transformation In Healthcare Market
Figure 5 Share Of Digital Transformation In Healthcare Market In 2018, By Country (In %)
Figure 6 Global Digital Transformation In Healthcare Market, 2018–2024
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