Global Digital Healthcare Solutions Market: Introduction
- Digital healthcare solutions refer to the use of information technology/electronic communication tools, services, and processes to deliver healthcare services or to facilitate better health. Technological advancements such as telemedicine, artificial intelligence (AI)-enabled medical devices, and electronic health records have transformed the healthcare industry. The digital healthcare system helps both patients and doctors. Shared data with healthcare professional helps to make informed decisions and plan about the treatment and enhance health outcomes.
- A major advantage of digital healthcare is the Electronic Health Record (EHR) keeping system, which has drastically improved the healthcare industry. It helps in easy availability of health information, reduce duplication of tests and delays in treatment, and also keeps patients well-informed to take better decisions.
Key Drivers, Restraints, and Opportunities of Global Digital Healthcare Solutions Market
- Rise of on-demand healthcare has also boosted the global digital healthcare solutions market. Currently, people are looking for on-demand and personalized healthcare system, which is only possible with the help of digital healthcare. WHO has established a global multi-disciplinary technical group to advice issues related to digital healthcare such as strategic approaches, areas for intervention, and governance structures for regulations and adoption of digital healthcare solutions and products.
- Data protection threat and ongoing technological infrastructure development are key factors that restrain the global digital healthcare market. Furthermore, technological advancements are projected to help to overcome these issues in the near future and boost the global digital healthcare solutions market.
- Technological advancements such as virtual treatment of patients would create more opportunities in digital healthcare system Furthermore, rising adoption of wearable medical devices among majority of the population is estimated to further propel the global digital healthcare solutions market
North America to Capture Major Share of Global Digital Healthcare Solutions Market
- North America is expected lead the global digital healthcare solutions market due to the major technological advancements occurring in the region. Moreover, top pharmaceutical and biotechnology companies have started using machine learning algorithms to shorten the drug development cycle, which has also helped fuel the digital healthcare solutions market.
- Europe is expected to follow North America in terms of share of the global digital healthcare solutions market. Use and scale up of digital healthcare solutions in the region has revolutionized how people achieve higher standards of health, and access services to promote and protect their health and well-being. Furthermore, government initiatives to adopt and benefit from seamless and secure technologies that provide effective clinical and public health solutions have boosted the digital healthcare market.
Key Players Operating in Global Digital Healthcare Solutions Market
The global digital healthcare solutions market is highly consolidated with the presence of key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the digital healthcare solutions market include:
- Allscripts Healthcare, LLC
- Apple Inc.
- AT&T Inc.
- Athenahealth Inc.
- BioTelemetry, Inc.
- Cerner Corporation
- Cisco Systems, Inc
- F. Hoffmann-La Roche AG
- General Electric Company
- Google LLC
- Health Care Originals
- iHealth Lab Inc.
- Koninklijke Philips NV
- McKesson Corporation
- Qualcomm Technologies, Inc.
Global Digital Healthcare Solutions Market, by Technology
- Digital Health Systems
- e-Prescribing Systems
- Activity Monitoring
- Remote Medication Management
- LTC Monitoring
- Video Consultation
- Mobile Healthcare
- Glucose Meters
- Neurological Monitors
- Sleep Apnea Monitors
- Pulse Oximeters
- BP Monitors
- Health Apps
- Fitness Apps
- Medical Apps
- Healthcare Analytics
Global Digital Healthcare Solutions Market, by Application
Global Digital Healthcare Solutions Market, by Component
Global Digital Healthcare Solutions Market, by End User
- Healthcare Providers
- Healthcare Payers
- Pharmaceutical Companies
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.