A recent report by Coherent Market Insights projects that the global digital healthcare market will reach a value of $836.10 billion by 2031, showing a significant compound annual growth rate (CAGR) of 21% from 2024 onwards.
The report highlights the increasing adoption of digital technologies in healthcare delivery, with healthcare organizations implementing telehealth solutions to provide care to patients in remote locations and reduce disease exposure in clinical settings.
The shift towards remote care, accelerated by the Covid-19 pandemic, is cited as a major driver of growth in the digital healthcare market, alongside the need for remote patient monitoring due to the ageing population.
Furthermore, growing investments and initiatives in digital transformation across healthcare systems are identified as key contributors to market expansion. The launch of new products such as electronic health records and revenue cycle management solutions is driving growth, with healthcare analytics accounting for over 30% market share.
The report also highlights the rapid growth of the mobile health segment, featuring apps and solutions for remote monitoring, medical personnel connectivity, and healthcare service delivery. However, challenges such as data security concerns and insufficient digital infrastructure in developing regions are noted.
In a separate study released by Digital Health Intelligence in June 2024, changes in the picture archiving and communication system and radiology information system market across English NHS acute trusts are analyzed from September 2018 to May 2024.
