Digital Transformation in Healthcare is estimated to register a CAGR of over 14% during the forecast period 2031

With the increasing use of telemedicine, mobile health, and other wireless solutions in hospitals and nursing homes to provide patients with real-time healthcare services, the term “digital health” has gained popularity. Digital technology is having a phenomenal impact on a variety of industries, including public, retail, banking, financial services and insurance (BFSI), and manufacturing. However, as end users become more dependent on digital health platforms, it is starting to change the game in the healthcare sector.

The new study from Future Market Insight provides in-depth analysis of market dynamics, current developments, and value (US$ Bn) estimates for the global market for healthcare digital transformation from 2021 through 2031.

Is Connected Healthcare Crucial for Digital Transformation in Healthcare?

The increasing penetration of connected health technologies, along with the convergence of digital media, health technology, and mobile devices is among the major factors driving the digital transformation in healthcare market. Various digital healthcare solution providers are now focusing on offering technology-enabled care solutions to enable the easy access of data and information and to improve the quality and outcome of health and social care. Moreover, with the development of healthcare technology and increasing penetration of smart devices and wearable, the usage of connected health solutions is increasing.

Furthermore, the rising need for remote monitoring for checking the health status of patients and the increasing demand for digital messages will alert patients to adhere to their long-time course of treatment are supporting the demand for connected health, thus fueling the growth of digital transformation in healthcare market.

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Competition Landscape

The digital transformation in healthcare market represents a fragmented competition landscape, where top players are focusing on entering into the partnerships and collaborations with local & regional manufacturers and distributors to strengthen their global footprint.

• For instance, in February 2021, HCL Technologies, and Alteryx, Inc., a leader in analytic process automation (APA), announced a global strategic alliance to help companies across the globe succeed in their analytics automation and digital transformation priorities. As part of this strategic engagement, HCL has also been named an Alteryx Elite Alliance Partner.

Future Market Insights has profiled the following prominent digital healthcare solutions providers in its report:

• IBM Corporation
• CGI Group Inc.
• Accenture PLC
• Deloitte LLP
• HCL Technologies
• AT&T Inc.
• PWC LLP
• GE Healthcare Limited
• Atos Syntel
• Medtronic
• Dell Inc.
• Cisco Systems, Inc.
• Wipro Limited
• Cognizant
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• Equinix, Inc.

Key Implications: Digital Transformation of Healthcare Market

• Global Digital Transformation of Healthcare Market is projected to register a CAGR of over 14% during the forecast period 2021-2031
• Presence of sophisticated healthcare infrastructure supports US expansion, accounting for more than 80% of total North American demand
• Investments in smart healthcare will boost year-over-year growth in the UK to 14.4% in 2021.
• Exponential growth will be possible in Germany and France, particularly due to increased spending on expanding healthcare.
• China is expected to remain the market leading the digital transformation of healthcare in East Asia, while Japan is expected to grow at a faster pace.

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