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(Health-NewsWire.Net, January 29, 2022 ) The Real-Time E-Healthcare System Market size is forecast to reach $137.7 billion by 2026, growing at a CAGR 16.4% of during the forecast period 2021-2026. Healthcare depends on accurate diagnosis, early detection, and efficient therapeutic. With the real-time e-healthcare system, patients can keep their health records through wireless networks and also check the changes at any time through electronic medical records. It helps the patients to stay in touch with their doctors and communicate with them on any health issue. Increasing advancements in technology, rapid innovation, increasing demand for remote patient monitoring, increasing awareness regarding the new methods that can help patients to stay in touch with their caregivers, and increasing healthcare infrastructure is the major factor driving the growth of the market. Increasing demand for an integrated healthcare system, and increasing usage of smartphones is set to further enhance the overall market developments of the Real-Time E-Healthcare System Market for the period 2021-2026.
Real-Time E-Healthcare System Market Analysis – By Product Type
mHealth Applications held the largest share in the Real-Time E-Healthcare System Market in 2020 and is estimated to grow at a CAGR of 18.3% during the forecast period 2021-2026. This is owing to the increasing penetration of internet connectivity and increasing availability of several mHealth applications. Increasing adoption of technologies for patients as well as physicians, increasing technological advancements, increasing demand for smart watches, and increasing technological advancements in IoT technology for delivering better connectivity is increasing the growth of the segment. Real time remote monitoring wearable solution helps the caregivers in reducing the hospitalization and detecting changes in the activity patterns in order to improve the quality metrics. mHealth applications are estimated to register the higher CAGR over the period 2021-2026.
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Real-Time E-Healthcare System Market Analysis – By Component
Services held the largest share in the Real-Time E-Healthcare System Market in 2020 and is estimated to grow at a CAGR 16.0% during the forecast period 2021-2026. This is owing to the increasing installation, up-gradation and training activities. Increasing demand for EHRs, increasing software up-gradation, increasing focus on post installation services, and increasing investments in digital infrastructure is increasing the growth of the market. Increasing need for reduction in the medical costs and increasing need for timely information procurement is also increasing the growth of the segment. Software are estimated to register the higher CAGR over the period 2021-2026.
Real-Time E-Healthcare System Market Analysis – By Geography
North America dominated the Real-Time E-Healthcare System Market with a major share of 42.6% in 2020. This is attributed to the increasing healthcare costs and advancements in network coverage. Increasing adoption of smartphones, increasing adoption of tele-health services, increasing preventive healthcare, increasing funding for various mHealth startups, and increasing number of patients suffering from Alzheimer’s disease & cardiovascular diseases is increasing the growth of the market in this region.
However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2021-2026 owing to the advancements in technology, increasing demand for EHRs, Increasing demand for remote patient monitoring, and increasing government spending on healthcare.
Real-Time E-Healthcare System Market Drivers
Increasing Number of Patients Suffering From Alzheimer’s Disease & Cardiovascular Diseases
Increasing number of patients suffering from Alzheimer’s disease & cardiovascular disease is increasing the growth of the Real-Time E-Healthcare System market. The diagnosis of these diseases are responsible for increasing the number of tests that are prescribed for it such as lipid profile, renal panel, and basic metabolic panel among others. Software products such as AccuMed and WEBeDoctors interacts with patients and reminds them to take their prescribed medication and also notify patients regarding the changes in their individual parameters. Increasing demand of tests for prevention, treatment, and diagnosis of such diseases are also increasing the growth of the market. Thus, increasing the growth of the market during the forecast period 2021-2026.
Increasing Healthcare Expenditure
Increasing healthcare expenditure is increasing the growth of the Real-Time E-Healthcare System market. This is owing to increasing prevalence’s of diseases such as diabetes and obesity. Factors such as increasing need for laboratory automation, increasing awareness regarding preventive healthcare, and increasing elderly population is also increasing the growth of the market. Thus, increasing the growth of the market during the forecast period 2021-2026.
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Real-Time E-Healthcare System Market Challenges
Data Breach and Computational Error
Some of the factors that are set to impede the growth of the Real-Time E-Healthcare System Market are data breach and computational errors. High cost of upgrading and maintaining the real time e-healthcare system is also set to hinder the market growth during the forecast period 2021-2026.
Real-Time E-Healthcare System Market Landscape
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Real-Time E-Healthcare System Market. In 2020, the Real-Time E-Healthcare System Market share is consolidated by the top ten players present in the market. The Real-Time E-Healthcare System Market, top 10 companies are Fitbit, Medical Information Technology Inc., GE Healthcare, Epic Systems Corporation, DexCom, Medtronic, Abbott Cerner Corporation, and IBM Corporation among others.
Key Takeaways
North America dominated the Real-Time E-Healthcare System Market in 2020 owing to the increasing healthcare facilities and increasing adoption of integrated healthcare systems. The Real-Time E-Healthcare System Market scope for different regions will be provided in the final report.
Increasing awareness for preventative healthcare and increasing demand for home healthcare are likely to aid the market growth of the Real-Time E-Healthcare System Market report.
Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be Real-Time E-Healthcare System Market report.
Data breach and computational error is poised to create the hurdles for the Real-Time E-Healthcare System Market.
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B. Healthcare Information Systems Market
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