Digital Health Market Report, 2021 Global Share, Key Players, Segmentation Analysis, Business Growth and Forecast to 2027
The global Digital Health Market is expected to exceed the market valuation of more than US$ x million by 2027 expanding at a reasonable CAGR of x% during the forecast period (2021-2027). Digital health refers to the use of information technology, services, and procedures to improve healthcare services.
The demand for Digital Health is increasing
on account of the growing number of smartphone users across the globe, rapidly
growing healthcare IT infrastructure in developed and developing countries,
growing awareness about the importance of health and fitness among the
population, increase in the use of numerous health and medical apps to maintain
fitness. For example, Propeller Health company has conducted around 60
connected medical programs to spread awareness of connected drug delivery
devices. The company provides add-on devices for inhalers that are synchronized
with the patient’s software for the analysis of symptoms and diseases.
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The rise of the COVID-19 has made a positive
impact on the Digital Health Market. During the COVID-19 pandemic, healthcare professionals
prefered digital health services for consultation and drug prescription. Moreover,
several initiatives have been taken by the government to initiate digital
health services in their country, this further propel the growth of the market.
For instance, in December 2020, Sensyne Health plc, the British Clinical
AI technology company, announced the launch of GDm-Health, a remote monitoring
solution for diabetes in pregnancy, in the U.S. with immediate effect.
Based on
Technology, the market is fragmented into Mobile Health Technology, Health
Information Technology, Wearables Technology, Telehealth Technology, and
others. The mobile health technology accounted for the largest share in 2020 owing
to the increasing use
of mHealth apps, and the high adoption of digital health technologies by
patients and physicians. In 2019, This visionary application, developed
by Healthy.io, received FDA clearance for the early self-detection of kidney
disease in just a few moments from the comfort of their home.
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Based on Deployment Mode, the market is fragmented into Software,
Service, and Hardware. The Software segment is expected to register the highest
CAGR in the upcoming period owing to the rising demand for reducing medical
costs, and several initiatives are taken by government organizations to boost
healthcare IT also propels the market growth. According to a survey by Alpha Software,
82% of executives agree that mobile technologies are the face of digital
transformation and 70% of access to enterprise systems will be done via mobile
devices by 2020.
Based on
Modality, the market is fragmented into Wired and Wireless. The wireless segment
accounted for the largest share in 2020 is anticipated to register a lucrative
CAGR during the forecast period. The majority of baby monitors available in the
market are wireless, running off Wi-Fi or Bluetooth. First All-In-One
Smart Baby Monitor with Artificial Intelligence” KamiBaby” was launched by
Kami, the premium smart home security brand from YI Techn in 2020.
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Based on
End-user, the market is fragmented into Clinics, Hospitals, Ambulatory Surgery
Centers, Home Care Settings, and Others. The Hospitals segment is expected to
dominate the market owing to the high adoption of Artificial intelligence in a
digital health setting, and advancements in technologies, and the rise in
adoption of Electronic Health Records (HER) in hospitals for the maintenance of
large clinical data. As per National Electronic Health Records (2020), 89
percent of healthcare physicians reported using an EHR system.
For a better understanding of the market adoption of Digital
Health, the market is analyzed for major regions including North America (US,
Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain,
UK, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest
of APAC), and Rest of World. North America will dominate the Digital Health
market on account of the rising healthcare costs, increasing adoption of
smartphones, advancements in coverage networks, and a surge in demand for
telehealthcare services. Some of the major players operating in the market
include Medtronic, Allscripts Healthcare Solutions Inc., BioTelemetry Inc.,
eClinicalWorks, iHealth Lab Inc, McKesson Corporation, Koninklijke Philips N.V,
AT & T, Cisco Systems, and Athenahealth IncAmgen Inc.
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Global Digital Health Market Segmentation
Market Insight, by Technology
•
Health Information Technology
•
Wearables Technology
•
Telehealth Technology
•
Others
Market Insight,
by Deployment Mode
• Software
• Service
• Hardware
Market Insight,
by Modality
• Wired
• Wireless
Market Insight,
by End-user
• Clinics
• Hospitals
• Ambulatory
Surgery Centers
• Home
Care Settings
• Others
Market Insight,
by Region
·
North America Digital Health Market
o
United States
o
Canada
o
Rest of North America
·
Europe Digital Health Market
o
France
o
Germany
o
Italy
o
Spain
o
United Kingdom
o
Rest of Europe
·
Asia-Pacific Digital Health Market
o
China
o
Japan
o
India
o
Australia
o
Rest of Asia-Pacific
·
Rest of World Digital Health Market
Top Company
Profiles
• Medtronic
• Allscripts
Healthcare Solutions Inc.
• BioTelemetry
Inc.
• eClinicalWorks
• iHealth
Lab Inc
• McKesson
Corporation
• Koninklijke
Philips N.V
• AT
& T
• Cisco
Systems
• Athenahealth
Inc
Labels: Digital Health Market
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