Digital Transformation In Healthcare Market 2025-2034: Key Highlights, Growth Dynamics, and Emerging Trends
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What External and Internal Drivers Are Contributing to the Growth of theDigital Transformation In Healthcare Market?
The rising uptake of electronic health records (EHRs) is anticipated to significantly boost the expansion of digital transformation within the healthcare sector. EHRs, which are essentially digital renditions of patients’ traditional paper charts, contain detailed, patient-focused information that can instantly be made accessible to approved users, thus improving processes. Primary factors inspiring the acceptance of EHRs include improved patient care, regulations, and incentives, increased data sharing opportunities, enhanced patient engagement, data analytics, and better population health management. The digital evolution in healthcare effectively augments EHRs by incorporating state-of-the-art technology and optimizing system functionality, thereby facilitating smooth data sharing and coordinated patient care across healthcare providers. For illustration, an October 2023 report by the UK-based research platform Oxford Academic revealed that basic EHR adoption escalated from 6.6% to 81.2%, with comprehensive system usage growing from 3.6% to 63.2%. Notably, larger hospitals outpace medium-sized hospitals by 7% and eclipse small hospitals by over 34% in terms of comprehensive EHR adoption rate. Consequently, the escalating adoption rate of electronic health records is a key growth propellant for the digital transformation in the healthcare industry.
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#What Long-Term Growth Rate is Expected for theDigital Transformation In Healthcare Market Between 2025 and 2034?
The healthcare industry has seen a dramatic expansion in digital transformation, with the market size escalating swiftly in recent years. The market is projected to balloon from $81.02 billion in 2024 to approximately $97.19 billion in 2025, experiencing a compound annual growth rate (CAGR) of 20.0%. The historical growth can be tied back to the rising demand for asset tracking, an increased emphasis on streamlining the workflow, the urgency of enhancing patient safety, and a heightened attention towards the protection and security of patients.
Anticipated swift expansion in the upcoming years is projected for the market size of digital transformation in healthcare. By 2029, it is predicted to inflate to $198.91 billion, with a compound annual growth rate (CAGR) of 19.6%. A multitude of factors have contributed to this growth during the projected period, including a growing global population, an increase in patients, heightened demand for improved patient care and safety, the incorporation of real-time location systems (RTLS) in healthcare, elevated global healthcare expenditure, and a governmental focus on healthcare system modernization. Noteworthy trends in this period include the rollout of healthcare applications, the introduction of new products, partnerships and joint ventures, technological progression, and the integration of artificial intelligence and machine learning.
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Which Upcoming Market Trends and Innovations Are Set to Influence theDigital Transformation In Healthcare Market’s Path Forward?
Leading companies in the healthcare digital transformation market are focusing on creating revolutionary technologies, such as digitalization solutions, to solidify their market standing. These digitalization solutions consist of various technologies, strategies, and services that convert traditional manual or analog processes into digital formats, aiding organizations in enhancing their operations for improved efficiency and productivity. As an example, in February 2024, Huawei Technologies Co. Ltd., an information and communications technology corporation from China, introduced its Medical Technology Digitalization Solution which helps streamline multifarious healthcare processes. This ground-breaking solution assimilates state-of-the-art technologies to overhaul medical practices, by providing unique features. It uses artificial intelligence (AI) and machine learning to boost medical imaging analysis, thereby assisting in quicker and more precise diagnosis of diseases like cancer and cardiovascular diseases. Embedded with Internet of Things (IoT) gadgets and sensors, the solution facilitates real-time monitoring of patients and distant healthcare delivery, thereby elevating access and patient outcomes.
Who Are the Dominant Market Players Pushing the Boundaries of theDigital Transformation In Healthcare Market?
Major companies operating in the digital transformation in healthcare market are Roche Diagnostics, Midea Group, Medtronic plc, ABB Ltd., Siemens Healthineers, Philips Healthcare, Stryker Corporation, GE Healthcare, Boston Scientific, Omron Corporation, Intuitive Surgical Inc., KUKA AG, Omnicell Inc., Allscripts Healthcare Solutions, InTouch Health, Kinova Robotics, Blue Ocean Robotics ApS, Vecna Robotics, Stereotaxis Inc., Aethon Inc., Intuition Robotics, Ateago Technology, VGo Communications Inc., ReWalk Robotics Ltd., Futronics Corporation
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What Are the Core Segments of the Digital Transformation In Healthcare Market, and How Do They Contribute to Growth?
The digital transformation in healthcare market covered in this report is segmented –
1) By Solution: Software, Service
2) By Organization Size: Small And Medium Size Enterprises, Large Enterprises
3) By Technology: Artificial Intelligence, Cloud Computing, Big Data And Analytics, Internet of Things, Cybersecurity
4) By End User: Hospitals And Clinics, Pharma Companies, Life Science And Biotech Companies, Healthcare Insurance Providers
Subsegments:
1) By Software: Electronic Health Records (Ehr), Telemedicine Solutions, Healthcare Analytics Software, Clinical Decision Support Systems (Cdss), Patient Management Software, Healthcare Crm Software, Blockchain Solutions For Healthcare
2) By Service: Consulting Services, Implementation Services, Integration Services, Support And Maintenance Services, Training Services, Managed Services
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What Regions Are Dominating the Digital Transformation In Healthcare Market Growth?
North America was the largest region in the digital transformation in healthcare market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital transformation in healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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