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However, limited awareness and high upfront costs may hinder growth.
The global medical software market is worth $50B in 2024 and is expected to exceed $120B by 2034, with an age increase of 9.1%.
The expansion of the industry is driven by the accelerated adoption of digital health technologies and the continued development of healthcare information technology.
“A cloud-based platform, telemedicine applications and electronic health record systems are at the forefront of adoption,” the report said.
However, limited awareness, skilled workers shortages, and high upfront costs may hinder the adoption of medical software, especially in emerging and underdeveloped markets.
It added: “Solving these gaps through education, partnerships and affordable product development is critical to unlocking long-term growth.”
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