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Reliable Data You Can Trust
A recent report published by Infinium Global Research on digital health market provides in-depth analysis of segments and sub-segments in the global as well as regional digital health market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional digital health market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global digital health market.
Digital health, or digital healthcare, is a broad, multidisciplinary concept that includes concepts from an intersection between technology and healthcare. Digital health applies digital transformation to the healthcare field, incorporating software, hardware, and services. Under its umbrella, digital health includes mobile health (mHealth) apps, Electronic Health Records (EHRs), Electronic Medical Records (EMRs), wearable devices, telehealth and telemedicine, as well as personalized medicine. Stakeholders in the digital health field include patients, practitioners, researchers, application developers, and medical device manufacturers and distributors. Digital healthcare plays an increasingly important role in healthcare today. Patients and consumers use digital health to better manage and track their health and wellness-related activities. Moreover, digital health employs more than just technologies and tools; it also views "radically interoperable data, Artificial Intelligence (AI), and open, secure platforms as central to the promise of more consumer-focused, prevention-oriented care.
Digital health has the potential to prevent disease and lower healthcare costs while helping patients monitor and manage chronic conditions. It can also tailor medicine for individual patients. Furthermore. digital tools give healthcare providers an extensive view of patients suffering from chronic or other diseases. The application of extensive and complex consumer, patient, physical, and clinical data through big data analytics has delivered substantial advantages to healthcare providers, transcending the constraints of traditional data processing methods. This paradigm shift has not only empowered patients, allowing them greater control over their health but has also led to heightened efficiency and enhanced medical results. Hence, increasing the occurrence of cardiovascular disorders due to unhealthy lifestyles across the world is fueling the growth of the digital health market. Additionally, in our interconnected world, digital technologies are now a fundamental part of our daily routines. Cloud-based digital health systems, mobile devices, and apps are gaining popularity among end users amongst government hospitals, patients, clinics, and other healthcare institutes. Patients have the capability to engage with healthcare professionals from a distance using their smartphones or telehealth platforms. Collectively, these innovations are fostering the merging of individuals, information, technology, and connectivity to enhance healthcare and overall health results. Hence, the rise in penetration of smartphones and the internet amongst the population is driving the digital health market. However, the rapid adoption rate of the internet and smart devices in the healthcare sector is increasing issues related to cybersecurity. Owing to data security related to healthcare information there is a hesitation in the adoption of the digital health solution, which can hamper the market growth rate. Although, there are several amendments in government policies coupled with the adoption of blockchain technology to secure the data from getting corrupted. This, in turn, opens opportunities for consumers to adopt digital health platforms, ultimately driving market growth during the projected period.
North America region accounts for the largest share in the digital health market. The North America region holds the largest market share in the digital health market, primarily due to its advanced healthcare infrastructure, technological innovation, and significant investments in digital health initiatives. The United States has been at the forefront of this industry, with the widespread adoption of electronic health records, telemedicine, and mobile health applications. Moreover, the region's robust regulatory framework and support for healthcare IT contribute to its leadership in the digital health sector. This market dominance is further propelled by a growing aging population, increasing chronic diseases, and the need for efficient healthcare solutions, making North America a key driver of digital health innovations and market expansion. The Asia Pacific region is anticipated to be the fastest-growing region in the digital health market. Countries like China, Japan, and emerging nation such as India and Indonesia is anticipated to witness significant growth owing to the high adoption rate of technologies and various supportable initiatives undertaken by the Chinese government to support eHealth.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 209.63 Billion |
| Market Size by 2030 | USD 770.26 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 15.30% |
| Largest Market | North America |
| No. of Pages | 180 |
| Market Drivers |
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| Market Segmentation | By Service, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global digital health market covers segments such as service, and end user. On the basis of service, the sub-markets include mobile device, cloud based solution, big data analytics, and healthcare mobility. On the basis of end user, the sub-markets include clinics, government hospitals, specialty hospital, and general hospital.
The report provides profiles of the companies in the market such as Cisco Systems, Inc., Qualcomm Technologies, Inc., Merative, Epic Systems Corporation, Siemens Healthcare GmbH, GE HealthCare, Koninklijke Philips N.V., IBM Corporation, Allscripts/ Veradigm, and Oracle/ Cerner.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the digital health market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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