Real-Time E-Healthcare System Market - Forecast(2024 - 2030)

Key Takeaways

• Geographically, the North America Real-Time E-Healthcare System Market accounted for the highest revenue share in 2021. The growth is owing to the health cognizant public, high disposable income, presence of leading players, and adequate infrastructure. Furthermore, Asia-Pacific is poised to dominate the market over the period 2022-2027.
• Rising acceptance by medical facilities and patients, a growing tech-friendly population, convenient healthcare, and growing GDP per capita of developing countries are said to be preeminent drivers driving the growth of the Real-Time E-Healthcare System Market. Non-inclusive presence and data security worries are said to reduce market growth.
• Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Real-Time E-Healthcare System Market report.

Real-Time E-Healthcare System Market Segment Analysis-By Services

The Real-Time E-Healthcare System Market based on the type of the services can be further segmented into intensive care, decision-making, monitoring, diagnosing, and others. The intensive care segment held the largest share in 2021. The growth is owing to the escalating prevalence of acute and chronic ailments. The overall demand for specialized treatments has witnessed a massive surge in recent times as vital organ illnesses are reaching unprecedented proportions. Nevertheless, diagnostic and monitoring are estimated to be the fastest-growing segment with a CAGR of 7.3% over the forecast period 2022-2027. This growth is owing to the broadening inclination of consumers toward MHealth systems. Such systems decrease the overdependence on doctors and helped in bringing down the medical bills. The demand for smart wearable devices which help people in keeping track of calorie burnt, footsteps, heart health, blood pressure, and others are the core reasons providing growth opportunities.

Real-Time E-Healthcare System Market Segment Analysis-By End-User

The Real-Time E-Healthcare System Market based on end-user can be further segmented into individuals, insurance firms, hospitals, retail pharmacies, and Others. The hospital segment held the largest share in 2021. The health care entities like hospitals generate humungous data such as clinical information, business operations, and others which can be digitally stored and analyzed to improve operational efficiencies and patient care through real-time healthcare systems. Better healthcare services are the need of the hour as the world is reeling under chronic illnesses. Therefore, hospitals are the biggest users of RTHS. Furthermore, hospitals along with the individuals’ segment are estimated to be the fastest-growing with a CAGR of 7.7% over the forecast period 2022-2027. This growth is owing to rising health consciousness and shifting attitudes of people toward prevention. As a result, MHealth devices have successfully become an inextricable part of the lives of millions around the globe. This factor is providing several growth opportunities.

Real-Time E-Healthcare System Market Segment Analysis-By Geography

The Real-Time E-Healthcare System Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 37% of the overall market in 2021. The growth in this segment is owing to the factors such as the presence of leading players, high healthcare expenditure, health-conscious public, and high GDP per capita incomes. Healthcare infrastructure plays a crucial role in delivering quality services to patients; therefore, the presence of state-of-the-art hospitals and research facilities provides the North American Real-Time E-Healthcare System Market an edge over the market of other regions. However, Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to colossal population and rising health complications with enlarging old-age population. Also, the growing economic affluence of developing counties like Indonesia, China, and India has its fair share in the enrichment of healthcare infrastructure and augmenting GDP per capita income which is ultimately ensuring market growth. Nevertheless, changing lifestyles of people because of modernization and rapid industrialization are providing fair growth opportunities to the said market.

Real-Time E-Healthcare System Market Drivers

Proliferating economic affluence of developing countries is anticipated to boost market demand

Real-Time E-healthcare Systems are only relevant when a country has adequate healthcare infrastructure and for better healthcare infrastructure a country needs to spend billions of dollars. Therefore, the enlarging economic prosperity of many developing countries like India, China, Indonesia, Brazil, and others are acting as a driver and stimulating the growth in said market. Mounting free-trade agreements, growing exports, and ascending foreign investments are some of the major reasons behind the economic affluence of these nations. With a 30 percent spike, China’s export last year reached $3.3 trillion; whereas, with a 42 percent surge from last year India’s exports have had reached $373 billion in FY21-22. Therefore, augmenting exports are ensuring heavy investments in infrastructure refinement.

Broadening acute and chronic illnesses are expected to boost market demand

With sweeping modernization, things that require manual work have completely vanished from our lives. At work, people spend most of their time staring at computer screens and sitting at desks. As a result, complications like diabetes, obesity, hypertension, bone abnormalities, and life-threatening cardiovascular diseases have come into the limelight like never before. There were more than 535 million diabetes cases in 2021 and the number is likely to reach nearly 783 million by the year 2045. Moreover, cardiovascular complications have emerged as a leading cause of death all over the globe. Therefore, the demand for better treatments and patient care is rising day after day.

Real-Time E-Healthcare System Market Challenges

Non-Inclusive presence and data security issues are Anticipated to hamper the market growth

Real-Time E-Healthcare System is a contemporary concept and still has its presence only in wealthy regions of the globe such as North America, Europe, and a few Asian countries. Therefore, the unequal presence of the said market can be a big challenge to its growth. Moreover, cryptographic solutions like electronic monitoring systems store and process medical records and other information of the patient to fabricate a better cure. According to healthcare cybersecurity stats for 2022, the healthcare sector alone lost $25 billion in alone last two years. The report, released by Singapore-based Cyber Risk Management (CyRiM) believes healthcare will be one of the industries most affected by hackers. Therefore, there is a data security threat associated with the functioning of the aforementioned market and can strangle its steady growth.

Real-Time E-Healthcare System Industry Outlook:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the aforementioned Market. Real-Time E-Healthcare System Market top 10 companies include-

1. Cerner Corporation
2. Abbott Laboratories
3. Jawbone
4. Fitbit
5. Medtronic PLC.
6. DexCom Inc.
7. MEDITECH
8. Garmin Ltd.
9. Misfit Wearables
10. GE Healthcare

Recent Developments

• On December 20, 2021, California, United States-based company “Oracle Corporation”, a firm known for its computer technology announced the successful acquisition of Missouri, United States-based health information technology company “Cerner Corporation.” A staggering payment of $28.3 billion ($95 per share) was made by the oracle to bring the acquisition to a close.
• On April 1, 2021, Missouri, United States-based health information technology company “Cerner Corporation” publicized that it has successfully acquired New York, United States-based company Kantar Health (a firm that operates in life sciences and data analytics). Cerner has made $375 million (all in cash) to wrap up the acquisition process.
• On January 14, 2021, California, United States-based world-famous internet services and product providing company “Google” announced that it has successfully acquired a California-based company Fitbit (a firm known for its fitness smartwatches and bands). The total value of the transaction stands at around $2.1 billion. The transaction has strengthened Google’s wearables bands and watches business.

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