The Healthcare Digital Experience Platform Market was around USD 1.1 Billion in 2023 and is expected to grow with a CAGR of 15% from 2023 to 2033. The market has experienced significant growth primarily in order to reduce healthcare expenditures. The Healthcare Digital Experience Platform Market is expected to account for an absolute dollar opportunity of nearly USD 3.7 Billion from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Healthcare Digital Experience Platform Market (2023) | USD 1.1 Billion |
| Global Healthcare Digital Experience Platform Market (2033) | USD 1.2 Billion |
| Global Healthcare Digital Experience Platform Market (2023 to 2033) | 15% |
| USA Healthcare Digital Experience Platform Market (2023 to 2033) | 15.1% |
| Key Companies Profiled | SoftServe; Accenture; Sitecore; Adobe; Oneview Healthcare; Optimizely, Inc.; Liferay Inc.; IBM Corporation; Cognizant; Wipro Digital |
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As per the Healthcare Digital Experience Platform Market industry research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market increased at around 13.5% CAGR. During the forecast period, the market is projected to grow at a CAGR of 15%.
Patient activity tracking, seamless engagement with a variety of business activities, and built-in analytical tools are a few of the benefits that healthcare digital experience platforms offer.
The key players in the market are focusing on modernizing their digital platforms by implementing advanced technologies like artificial intelligence, machine learning, and big data into their business modules. As a result, market growth is expected to pick up in the next years. Furthermore, healthcare digital experience platforms help businesses provide contextual advice and predictive services to customers. Several organizations are adopting personalized or customer-centric cultures in order to promote patient involvement by dealing with real-time patient data.
In the years ahead, the ability to improve an organization's market share across the healthcare sector, reduce attrition rates by implementing advanced analytics, increase sales efficiency by lowering operating costs, and increase cycle speed through price and quotation capabilities will most likely be the key driving factors. Furthermore, the opportunity to improve customer service while lowering operating costs through improved contact handling and transformed operations is helping the market develop dramatically.
Principal Consultant
The advent of the pandemic has led many healthcare employers to use digital technologies to communicate with a broader range of target patients with up-to-date information and services in real-time, with each organization shifting into a digital business.
To create large-scale experiences with agility, several businesses have encouraged digital interactions for top-tier healthcare suppliers, payers, and providers.
The healthcare digital experience platforms of Adobe are used by 70% of the top healthcare providers, 90% of the top pharmaceutical companies, and approximately 80% of top healthcare payers.
Region-wise AnalysisAdobe's enterprise solutions, such as the HIPAA-compliant Adobe Experience Cloud apps, enable deep end-user involvement across various touchpoints in the healthcare industry. Marketo, Adobe Sign, and Adobe Experience Manager Managed Services are three of the applications in this category.
The global healthcare industry is expected to witness substantial expansion owing to digital experience platform technology's capacity to significantly reduce healthcare costs. In the United States, for instance, healthcare and disease costs are rising rapidly in comparison with personal income. This is expected to spur the industry's growth.
A Veriday blog post indicates that in 2030, over 20% of the population in North America will be 65 and older, necessitating more advanced healthcare offerings. Therefore, digital experiences for healthcare will have a significant positive effect. Digital technology causes in healthcare yields savings of USD 300 billion a year.
North America held a significant share in the market as owing to the presence of suppliers of large-scale IT services offering these platforms in the region, such as SoftServe; Salesforce; Accenture; IBM Corporation; Adobe; Cognizant; and Wipro Digital. Furthermore, the importance of improving patient engagement and retention, as well as the availability of well-established traditional and online sales channels, is projected to create potential growth possibilities for healthcare digital experience platforms in the region.
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During the projection period, China is expected to account for a significant market in Healthcare Digital Experience Platforms. The market in the country is expected to account for USD 835 Million by 2033. Furthermore, throughout the projection period, it will expand at a CAGR of 19.7%.
The regional market is being driven by factors such as an increasing target population of tech-savvy consumers, rising per capita earnings, and demand for these platforms from large healthcare organizations for precise decision-making.
The market in the USA is expected to reach a valuation of USD 1.4 Billion by 2033. Growing with a CAGR of 15.1% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of around USD 1.1 Billion.
The market in the United kingdom is expected to reach a valuation of USD 225.9 Billion by 2033. Growing with a CAGR of 14.6% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of around USD 168 Million.
In Japan, the market is expected to grow at a CAGR of 19.3% from 2023 to 2033, reaching around USD 272.9 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of USD 226.2 Million during the forecast period.
Due to the growing demand for cloud technology across various healthcare organizations for secure information sharing, cost reduction, and improved operational efficiency, as well as improved patient services, cloud-based deployment accounts for over 70% of the total revenue. Additionally, lower security breaches experienced in cloud-based deployments compared to on-premises and web-based deployments, low upfront setup, and ease of deployment costs are expected to accelerate the global expansion of cloud-based healthcare digital experience platforms.
Healthcare firms benefit from cloud-based deployment because it allows for seamless integration, increased operational flexibility, a smaller workforce, and lower maintenance costs.
Because of the increased demand for cloud technology among big, medium, and small-scale healthcare companies to streamline different business operations, the cloud-based category is expected to grow at a fast rate throughout the projection period.
The Business-to-Consumer segment is expected to account for a significant revenue as well as CAGR in the market. New capabilities like customer behavior analytics allow organizations to effectively keep track of operational workflows and such systems are updated at regular intervals to ensure that they're regularly kept in sync with the most current analytics methodologies, enabling them to perform their tasks efficiently.
The key players operating in the global Healthcare Digital Experience Platform market are Adobe, Oneview Healthcare, Accenture, Sitecore, SoftServe, Cognizant, Liferay Inc., IBM Corporation, Optimizely, Inc., and Wipro Digital
The market is valued at USD 1.1 billion in 2023.
Increasing demand for digital healthcare experiences to grow the market.
China, the United States, Japan, the United Kingdom, and South Korea are expected to dominate.
The United Kingdom will register a 14.6% CAGR until 2033.
The market’s CAGR from 2023 to 2033 will be 15%.
1. Executive Summary 2. Market Overview 3. Market Risks and Trends Assessment 4. Market Background 5. Key Success Factors 6. Global Healthcare Digital Experience Platform Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 7. Global Healthcare Digital Experience Platform Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Global Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 8.1. Platform 8.2. Services 9. Global Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode 9.1. On-premises 9.2. Cloud Based 10. Global Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 10.1. Business-to-Consumer (B2C) 10.2. Business-to-Business (B2B) 10.3. Other Applications 11. Global Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. Middle East and Africa (MEA) 12. North America Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033 13. Latin America Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033 14. Europe Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Asia Pacific Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Middle East and Africa Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Key Countries Healthcare Digital Experience Platform Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Market Structure Analysis 19. Competition Analysis 19.1. SoftServe 19.2. Accenture 19.3. Sitecore 19.4. Adobe 19.5. Oneview Healthcare 19.6. Optimixely, Inc. 19.7. Liferay Inc. 19.8. IBM Corporation 19.9. Cognizant 19.10. Wipro Digital 20. Assumptions and Acronyms Used 21. Research Methodology
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Healthcare Digital Experience Platform Market
