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Healthcare Industry Growing due to Digital Transformation

Posté le: Mar-02-2021 | vue (47) fois | Word Count article: 435 |

According to a report by P&S Intelligence on Healthcare Ecosystem Insights, the healthcare industry in the U.S. is predicted to generate a revenue of $5,605.5 billion by 2024, advancing at a 6.6% CAGR during the forecast period.
The growth of the industry in the U.K. Japan, China, the U.S., France, and Singapore is occurring due to the government initiatives & enhanced healthcare infrastructure, rising prevalence of chronic diseases, increasing adoption of healthcare insurance, growing gross domestic product and healthcare expenditure, rising requirement for in-vitro diagnostic (IVD) tests, surging geriatric population, and digitalization in the industry.

On the basis of diseases, the healthcare industry is divided into cancer, cardiovascular & circulatory diseases, respiratory diseases, diabetes, neuropsychiatric disorders, blood & endocrine disorders, chronic liver diseases, musculoskeletal diseases, and other. Out of all these, the prevalence of cardiovascular and circulatory diseases was the highest in the past in Germany. The division is predicted to account for 42.6% of the German healthcare sector by 2024, registering a 3.3% CAGR during the forecast period.

The second leading division is projected to be cancer in Germany, with an expected contribution of 26.5% by 2024. When channel is taken into consideration, the healthcare industry is categorized into for-profit, non-profit, state/local, and others. In Japan, the state/local category accounted for 17.4% share of the market in 2018. The category was on the third place, owing to the fact that these channels offer less healthcare services as compared to other channels. A major reason for the growth of the healthcare sector across the globe is the surging geriatric population across the globe.

In addition to this, the growing demand for IVD tests in several countries is also resulting in the expansion of the healthcare industry. These tests provide various advantages, such as detection of different compounds, faster results, and ease of recording data. Moreover, multiple tests can be performed using the IVD test technology, owing to which, their demand is increasing. For example, in China, the surging prevalence of chronic diseases in China is a major factor leading to the rising need for IVD tests in the country.

Other than these, the emergence of digital transformation has also aided in reducing the cost of healthcare considerably around the world, because of which, a larger number of people can be provided with adequate medical facilities. Major companies in the domain are increasingly involved in developing digital platforms that can help if offering better healthcare services and solutions. Some of the major advancements that have occurred in the healthcare industry over the past few years are cloud computing, telemedicine, and wearable medical devices.

Hence, the healthcare sector is registering considerable growth in different countries owing to the increasing geriatric population, increasing demand for IVD tests, and digital transformation.

Source: P&S Intelligence

Source de l'article : Industry Growing due to Digital Transformation _1030.aspx

auteur ressource :
P&S Intelligence
International: +1-347-960-6455
Report Description:

Mots-clés : Healthcare Ecosystem Insights, Size, Share outlook,

Catégorie : Internet et Business : Enchères

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