The market is set to expand by about 9% annually until 2033. In 2022, the United States was projected to make up 21.2% of the market, as per the report.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 11, 2023 /EINPresswire.com/ -- The digital transformation in healthcare market has emerged as a dynamic and rapidly growing sector, with the global market estimated to be valued at an impressive US$ 65.2 billion in 2023. As the healthcare industry continues to evolve and adapt to the digital age, the market is poised for substantial growth, with projections indicating that it will soar to an astonishing US$ 253.6 billion by 2033

This remarkable expansion is expected to be driven by a compound annual growth rate (CAGR) of 14.5% from 2023 to 2033, underscoring the profound impact of technology on healthcare practices and patient outcomes. The integration of innovative digital solutions, such as telemedicine, electronic health records, and AI-driven diagnostics, is reshaping the landscape of healthcare, offering greater accessibility, efficiency, and effectiveness in the delivery of medical services.

As digital transformation continues to gain momentum, it promises to revolutionize the healthcare industry and enhance the quality of care worldwide.

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Digital health has become an increasingly prevalent buzzword due to the increasing implementation of digital health platforms such as telehealth, mobile health, and other wireless technologies across healthcare facilities and nursing homes that provide patients with real-time medical treatment. The impact of digital technology on various sectors such as public, retail, banking, financial services, and insurance (BFSI), and production is tremendous. Still, it has evolved into a game-changing technology in the medical field as end users' reliance on digital health platforms grows.

The emergence of healthcare smartphone applications and incentive proposals by government agencies have played an essential part in the healthcare sector. With this scenario anticipated to continue in the coming years, the healthcare market's digital transformation will likely accelerate. Furthermore, in nations such as Germany, the United States, China, and others, digital healthcare is regarded as an emerging technology.

The digital transformation in healthcare market analysis indicates a fragmented competition landscape, with major companies concentrating on forming partnerships and collaborations with local and regional producers and retailers in order to expand their global footprint.

Key Takeaways From The Digital Transformation in Healthcare Market:

Between 2018 and 2022, the digital transformation in healthcare market grew at a CAGR of 21.4%.

As per the report, the United States accounted for 21.2% of the global market in 2022.

Over the forecast period, the digital transformation of healthcare in the United Kingdom is expected to grow at a CAGR of 16.1%.

Over the forecast period, the digital transformation of the Chinese healthcare market is expected to grow at a CAGR of 15.5%.

The hospitals and clinics segment was expected to account for 39.7% of the market 2022.

"The Digital Transformation in Healthcare market continues to witness unprecedented growth, driven by the convergence of technology and healthcare services," states the research manager. "This transformative trend is reshaping the industry, enhancing patient care, and optimizing operational efficiencies. As healthcare providers increasingly adopt digital solutions, the market presents substantial opportunities for innovation and investment."- says Sudip Saha, Managing Director and Co-Founder at Future Market Insights.

Competitive Landscape:

The digital transformation of the healthcare sector demonstrates a fragmented rivalries landscape, with major brands focusing on forming alliances and working together with local and regional manufacturers and distributors to broaden their international reach.

HCL Technologies and Alteryx, Inc., a leader in analytic process automation (APA), disclosed a global strategic alliance in February 2021 to assist firms around the world in achieving their analytics automation and digital transformation goals. HCL has also been identified as an Alteryx Elite Alliance Partner as part of this joint venture.

Wipro Ltd. disclosed a partnership with IBM Corporation in June 2020 to help Wipro customers embark on a seamless and secure hybrid cloud journey. Wipro will create hybrid cloud offerings to assist businesses in managing, migrating, and transforming mission-critical applications and tasks while maintaining safety across private or public cloud and on-premises IT environments.

Leading Key Players:

IBM Corporation
CGI Group Inc.
Accenture PLC
Deloitte LLP
HCL Technologies
AT&T Inc.
PWC LLP
GE Healthcare Limited
Atos Syntel
Medtronic Plc.
Dell Inc.
Cisco Systems Inc.

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Digital Transformation in Healthcare Segmentation:

By Solution:

Software
Service

By Organization Size:

Small and Medium Size Enterprises
Large Enterprises

By Technology:

Artificial Intelligence
Cloud Computing
Big Data & Analytics
Internet of Things
Cybersecurity

By End User:

Hospitals & Clinics
Pharma Companies
Life Science & Biotech Companies
Healthcare Insurance Providers

By Region:

North America
Latin America
Europe
South Asia
East Asia
Oceania
Middle East & Africa

Author By:

Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

Have a Look at the Related Reports of the Technology Domain:

Digital Transformation Market Share- The net worth of the market share of digital transformation is predicted to reach from US$ 930.73 billion in 2023 to over US$ 10,401.77 billion by 2033. The market is expected to register a CAGR of 27.3% from 2023 to 2033

About Future Market Insights (FMI):

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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