An in-depth analysis of the Digital Health market can be obtained from the excellent analysis found in the market report. This well-crafted market analysis will relieve you of any concerns regarding identifying your niche. With its coverage of various global demographics and geographic areas linked to the Digital Health market, the report will offer insightful information about all the channels associated with your company.
The digital health market was worth USD 145,884.3 million in 2022, and is anticipated to record a CAGR of 17.9% over the forecast duration 2023-2033, thereby accumulating USD 767,718.9 million by the end of the analysis timeline.
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Digital health is referred to as the utilization of communication and information technologies in the healthcare sector to facilitate the management of chronic diseases from remote locations. It is broadly a multidisciplinary concept facilitating the intersection between healthcare and technology. It includes digital categories such as health information technology (IT), mobile health (mHealth), telehealth & telemedicine, personalized medicine, and wearables.
The digital health technology helps users to efficiently access health related information which in turn aids in clinical decision making, patient safety, and continuity of care. This sector involves various stakeholders which include researchers & scientists, clinicians, health device manufacturers along with other experts from engineering, public health, social sciences, data management, and health economics domain.
A competitive analysis, vendor information, statistics to help identify opportunities, information about major market players, and market size projections are all included in the report. Making strategic decisions will be aided by considerations of both present constraints and future trends.
To assist you in choosing your marketing strategies, the Digital Health market report will offer projections based on actual numbers and accurate data. With the report’s broad overview, you will be able to identify the primary profit-making industries. By utilizing these opportunities in accordance with your established strategies, you can strengthen your position in the market.
Real-time sources including clients, vendors, raw material suppliers, and so forth provide the data. This means that the information gathered is real and will give all the information needed to understand the digital health market.
Digital Health Market- Competitive Hierarchy
Major players constituting the competitive landscape of this business sphere are Cerner Corporation, Allscripts Healthcare Solution, Inc., Siemens Healthcare AG, Qualcomm Technologies, Inc., Mckesson Corporation, Koninklijke Philips NV, Cisco Systems, Inc., Honeywell International, Inc., and eClinicalWorks., 3DHISTECH, Apollo Enterprise Imaging, Konfoong Biotech International Co., Ltd, XIFIN, Inc, Akoya Biosciences, Corista, Indica Labs, Kanteron Systems, AirStrip Technologies, Google, Inc., Samsung Electronics Co., Ltd. and others. Notably, Philips in February 2021, acquired major US based remote cardiac diagnostics and monitoring technology provider BioTelemetry, Inc. This decision was aimed at assisting Philips to amplify its business portfolio and customer base.
By Technology
The mHealth segment is poised to register notable gain over the forecast period ascribing to escalating demand for remote monitoring services, rising smartphone penetration, and surging prevalence of hypertension. mHealth, or mobile health, refers to the use of mobile devices, such as smartphones and tablets, to support healthcare services and promote health and wellness. This can include a wide range of applications, from patient monitoring and remote consultations to medication reminders and fitness tracking.
By Component
The software segment is slated to capture a significant revenue share over 2022-2030 due to advancements in healthcare IT, high demand for medical cost reduction, and rising needs for organized data and workflow in the healthcare sector.
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Digital Health Market- Regional Assessment
The major benefactors to Digital Health Market expansion. Among these, North America captured a significant market share in 2020 and is anticipated to showcase similar growth trends over the forecast period. This is attributable to surging prevalence of chronic ailments, widespread adoption of smart devices, and presence of prominent industry players. Furthermore, Asia Pacific is projected to amplify with a substantial CAGR over the stipulated timeline owing to surge in aging population, increase in internet users, and high demand for remote monitoring services.
Smartphones has emerged as one of the highly adopted technologies devices across the globe. There has been a steep rise in the use of smart phones and other phone applications by physicians and other healthcare providers, which in turn has surged the practice of digital health. The usage of mHealth applications and other services enables efficient communication between patients and healthcare experts from any location and also allows users to monitor their state of health and medical schedules easily, which is further adding traction to Digital Health Market growth.
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