Market Research Future (MRFR) expects the Digital Healthcare Market 2020 to procure a stellar growth rate of 26.30% between 2020 and 2028 (evaluation period). MRFR also anticipates the market to touch USD 328,887.8 million by 2028.

1. Digital Healthcare Market | Emerging Trends, Growth Insight, Leaders, Services and Future
Forecast to 2028
Market Scope
Market Research Future (MRFR) expects the Digital Healthcare Market 2020 to procure a stellar
growth rate of 26.30% between 2020 and 2028 (evaluation period). MRFR also anticipates the market to
touch USD 328,887.8 million by 2028. We will provide COVID-19 impact analysis with the report, along
with all the extensive key developments in the market post the coronavirus disease outbreak.
Market Drivers and Restraints
Following the COVID-19 outbreak, the healthcare sector has been eager to accept digital transformation
in view of the uncontrollable surge in SARS-CoV-2 cases. The digital healthcare market is thriving,
considering the increasing technological innovations and the mounting significance of video and online
consultations and many other digital platforms across countries post the lockdown. The considerable
increase in digital outpatient appointments combined with the rising uptake of smartphones, tablets and
iPads have also led to extensive market growth.
Although the digital healthcare market has been reeling from the COVID-19 impact, the fast adoption of
technologies such as big data, AI, IoT, and others have ensured sustained growth. These advanced
technologies are increasingly being used by the healthcare industry to achieve higher efficiency as well
as success rate in surgeries and several other medical activities. The high penetration of smartphones
and mobile apps related to healthcare and the escalating use of cloud services also assist in the market
growth. Additional factors benefiting the market include the soaring awareness level with regard to the
importance of fitness among the population.
The shift from manual systems to digital patient records has resulted in a strong demand for digital
health systems like EHRs OR electronic health records, thus enhancing the digital healthcare market
size. A factor that also contributes to the market revenue is the increased focus of industry participants
on adopting growth strategies such as partnerships, product launches, acquisitions, collaborations and
mergers for expanded customer base. To cite a reference, in October 2020, Hims Hers, a Digital
healthcare vendor merged with special purpose acquisition company/SPAC to go public, given
that the market is now significantly overwhelmed by the COVID-19 pandemic. The merger is
expected to help Hims Hers to invest in new product categories, which could accelerate its
aim to be a well-known name in the digital healthcare industry, while joining an increasing
list of digital health vendors that are going public.
Market Segmentation
The market segmentation, according to the MRFR report, comprises technology, application, delivery
mode, components and end user.
The technologies studied in market report include telehealthcare, digital health systems, healthcare
analytics and mhealth. These technologies have emerged as highly popular digital healthcare market
trends worldwide, especially since the COVID-19 outbreak.
The primary applications of digital healthcare are oncology, diabetes, cardiology, sleep apnea,
neurology, and more.
Delivery modes considered in the market study are on-premise along with cloud-based.
Components listed in the report include services, hardware and software.
Pharmaceutical companies, healthcare payers, healthcare providers, and others are the key market end-
users identified in the MRFR report.
Regional Insight
Digital Healthcare Industry size has been evaluated in the report, with respect to certain regions,
namely Europe, MEA/Middle East Africa, Asia Pacific/APAC and the Americas.

2. There is a strong possibility that the Americas can emerge as the market leader in the years ahead,
given the spectacular growth of digital healthcare in line with the high healthcare spending across the
US and Canada. The fast burgeoning geriatric mass along with the soaring prevalence of various chronic
disorders and diseases can also boost the uptake of novel technologies that help in efficient patient
management.
The novel coronavirus has had a brutal impact on Europe, especially in Italy and Spain. The pandemic
has substantially overburdened the healthcare industry, as the rising SARS-CoV-2 cases as lowered the
focus on patients with other ailments. The lockdown across countries has also disrupted the healthcare
options generally available for patients, prompting them to seek online assistance. With some help from
this factor, Europe still remains the second biggest gainer in the global market, since technology
adoption is quite high in the region and the government is doing everything in its capacity to curb the
situation. Also, increase in product and software launch by the renowned companies in the region also
adds to the market value. For instance, in April 2020, Philips had launched an online portal in
Netherlands, which caters to COVID-19 patients who can now exchange data digitally. The
launch has managed to expand the company’s customer base in the region, while also
bolstering the market growth for digital healthcare.
APAC’s growth rate is expected to be the fastest out of all the regions in the following years, thanks to
the improving healthcare infrastructure combined with the escalation in the number of healthcare IT
firms. The rapid surge in RD centers along with the increasing cases of lifestyle disorders like obesity,
diabetes, chronic obstructive pulmonary disease, obstructive sleep apnea and hypertension also
generate the requirement for technically advanced platforms for preventing and treating diseases.
Another factor boosting the digital healthcare market growth can be the rising disposable incomes in
conjunction with the improving economy of the region.