17-Mar-2021 | Facts and Factors
As per the report published by Facts and Factors, the global digital health market was valued at approximately USD 84.08 Billion in 2019 and is expected to generate revenue of around USD 220.94 Billion by end of 2026, growing at a CAGR of around 14.8% between 2020 and 2026.
Digital health is a large and growing field that is based on a simple concept: using technology to help people better their health and wellbeing. Wearable devices to ingestible sensors, mobile health applications to artificial intelligence, and automatedcarer to electronic records are all examples. Actually, it's about bringing digital transformation, across disruptive technology and cultural change, to the healthcare sector. Digital health resources can also aid in the detection of new illnesses or the deterioration of existing ones. By encouraging physicians to intervene earlier in the course of a disease, digital health resources can be able to shorten the duration of the illness or relieve symptoms before they become serious. Not only could digital health boost people's quality of life, but it could also lower the average cost of healthcare over a human lifetime, saving money for both providers and patients.
Top Market Players
Major players in the market areAT&T, Vocera Communications, AirStrip Technologies, Apple, Inc., CISCO Systems, Inc., Allscripts, Cerner Corporation, Mckesson Corporation, Google, Inc., Vodafone Group, IBM Corporation, and Qualcomm Technologies, Inc., among others.
The Rising Adoption of mHealth Apps in the Healthcare Industry
The healthcare mobile app industry has evolved into a remarkable biological system; a market that is not only strong but also has enormous potential. The implementation of mobile solutions in the health industry allows for the creation of mHealth applications for a wide range of experts and patients.
Experts, as well as medical practitioners, are focusing on improved results as the healthcare sector and technology advance. In recent years, mhealth apps innovations have been more aligned with the introduction of technological advances, new implementation plans, and new work methods that are transforming human services.
The advantages of mHealth apps are well established, as patients and doctors would be able to communicate more effectively. Users will be able to monitor anything from the state of health to medical schedules using these applications. Patients can get immediate remedies for minor to major health problems by using these applications. Furthermore, they can use the in-app messaging features to communicate directly with any health expert.
North America Region Dominates the Global Digital Health Market
In 2020, North America had the highest market share of more than 36%, and it is projected to rise at a steady CAGR over the forecast period. Growing healthcare costs advances in coverage networks increased mobile penetration, and rising demands for tele-healthcare solutions are all driving market growth in the area. The Covid-19 pandemic prompted a substantial rise in the adoption and use of telehealth in the United States. Patient use of telehealth services has risen significantly in the United States to replace canceled healthcare visits.
Over the projected timeframe, Asia Pacific is projected to be the fastest regional market. The regional market is growing attributed to increasing smartphone penetration, rising acceptance of smart wearable devices, and an increase in demand for EMRs and EHRs. Furthermore, countries such as Malaysia and Japan have already developed a national warehouse that allows public hospitals to exchange data. Furthermore, market growth is expected to be fueled by increased competition for remote patient monitoring and associated services as a result of increased government spending on healthcare.
Browse the full“Digital Health Market By Component (Software, Hardware, and Services), By Technology (mHealth, Digital Health Systems, Tele Healthcare, and Healthcare Analytics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026” report at https://www.fnfresearch.com/digital-health-market
The global digital health market is segmented as follows:
- Digital Health Systems
- Tele Healthcare
- Healthcare Analytics
- North America
- The UK
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Facts & Factors
A 2108, Sargam,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]