DUBLIN–(BUSINESS WIRE)–The “Global Digital Health Market Report and Forecast 2023-2031” report has been added to ResearchAndMarkets.com’s offering.
The global digital health market value in 2022 was USD 227.5 billion driven by the rising demand for remote healthcare services across the globe. The market size is anticipated to grow at a CAGR of 16.1% during the forecast period of 2023-2031 to achieve a value of USD 872.2 billion by 2031.
Digital Health Introduction
Digital health is a rapidly growing field at the intersection of healthcare and technology, aiming to enhance patient care, improve health outcomes, and reduce healthcare costs. With advancements in technologies such as artificial intelligence, big data, telemedicine, and wearable devices, digital health is transforming the way healthcare is delivered and managed.
The global digital health market encompasses a broad range of applications, including electronic health records (EHRs), telehealth, mobile health (mHealth), health analytics, and personalized medicine.
Digital Health Market Scenario
North America is currently the largest market for digital health, followed by Europe, due to factors such as a well-developed healthcare infrastructure, widespread adoption of digital health technologies, and favorable government policies. However, the Asia-Pacific region is expected to witness the highest growth rate, driven by factors such as increasing internet penetration, growing demand for quality healthcare, and rising government support for digital health initiatives.
Despite the growth and potential of the digital health market, there are challenges such as data privacy concerns, cybersecurity threats, and regulatory hurdles. Additionally, the integration of digital health technologies into existing healthcare systems and the need for user-friendly solutions pose further challenges. However, these challenges also present opportunities for innovation and improvement in digital health technologies and their adoption across the healthcare sector.
Market Segmentation
by Product and Services
mHealth
By Type
mHealth Apps
Healthcare Apps
Medication Management Apps
mHealth Devices
Blood Glucose Monitors
Cardiac Monitors
Hemodynamic Monitors
Neurological Monitors
Respiratory Monitors
Body and Temperature Monitors
Remote Patient Monitoring Devices
Other Devices
mHealth Services
Treatment Services
Independent Aging Solutions
Chronic Disease Management
Diagnostic Services
Monitoring Services
Remote Patient Monitoring Devices
Medical Call Centers Manned by Healthcare Professionals
Teleconsultation
Post Acute Care Services
Wellness and Fitness Solutions
Other Services
eHealth
By Type
Electric Health Records
Laboratory Information System
Telehealth
Prescribing Solutions
Medical Apps
Clinical Decision Systems (CDSS)
Pharmacy Information Systems
Others
by Components
Software
Hardware
Services
by Applications
Cardiology
Diabetes
Neurology
Sleep Apnea
Oncology
Others
by End User
Healthcare Providers
Healthcare Consumers
Payers
Others
Key Drivers of the Digital Health Market
The growth of the digital health market is driven by factors such as:
Increasing adoption of smartphones, wearable devices, and IoT in healthcare
Growing demand for remote healthcare services, particularly during the COVID-19 pandemic
The shift towards value-based and patient-centered care models
Investments and funding from both public and private sectors to support digital health initiatives
An aging global population and the rising prevalence of chronic diseases, requiring more efficient healthcare management
Competitor Landscapes
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Koninklijke Philips N.V
Abbott
Medtronic
Apple, Inc
AirStrip Technologies Inc
AliveCor India
Omron Corporation
BioTelemetry, a Philips Company
Athenahealth, Inc
AgaMatrix
Withings
iHealth Labs, Inc
Cerner Corporation
ZTE Corporation
Cisco Systems, Inc
AT&T Intellectual Property
Qualcomm Technologies, Inc
For more information about this report visit https://www.researchandmarkets.com/r/g3efjk
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