Digital Health Market will register phenomenal growth of 26% to beat $379 bn by 2024: Global Market Insights, Inc.

Digital Health Market Size By Technology and Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Sellbyville, Delaware, April 03, 2018 (GLOBE NEWSWIRE) --

Global Digital Health Market is projected to surpass USD 379 billion by 2024; according to a new research report by Global Market Insights. Favourable government initiatives coupled with increasing use of smartphones, tablets, and other mobile platforms will drive digital health market. Growing number of venture capital investments and supporting government activities for digitizing healthcare are foremost factors fuelling business growth. Robust improvement in healthcare IT setup along with surging adoption of various healthcare IT solutions are factors anticipated to render positive impact over the coming years.

Rising cost cutting pressure in healthcare industry generates requirement for the providers to seek m-health technologies for health monitoring thereby, saving large amount of healthcare costs. Above mentioned aspects boost adoption rate of the mhealth technology and thus propels industry growth.

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Encouragement by government bodies for adoption of digital technology in healthcare and implementation of laws to digitize healthcare system are factors stimulating business growth. However, maintenance requirement and high capital expenditure coupled with security concerning patient data is projected to hamper the digital health market growth during the forecast period.

 Digital health systems segment dominated the market in 2016 on an account of medical transcription IT solutions and early adoption of health information technology systems. Electronic health record (EHR) accounted for largest revenue share in digital health systems segment owing to advantages such as, real-time, patient centered accounts that is secured for authorized operators and it also makes data obtainable instantly.

Browse key industry insights spread across 240 pages with 397 market data tables & 13 figures & charts from the report, “Digital Health Marketin detail along with the table of contents:

mHealth segment is poised to grow lucratively as a result of increasing use of tablets, and other mobile platforms along with technological advancements. Public and medical health practice is strengthened by mobile devices such as patient monitoring devices, personal digital assistants (PDAs), mobile phones, and other wireless devices. Moreover, minimizing costs through mHealth technology is projected to exhibit significant business growth.

UK digital health market will observe substantial business growth over the forecast timeframe. The growth is attributable to factors such as, progress in technology empowered care services, early implementation of telecare service as well as large central government agendas for telecare. Furthermore, strong existing base of hardware and private institutional initiatives are contributing to UK’s digital health market.

China is anticipated to witness significant market growth due to high adoption rate of new technologies and supporting initiatives undertaken such as, Chinese government to support eHealth to address long-standing inefficiencies and unmet requirements for the health care system in nation. Additionally, favorable regulatory compliance and reduction in barriers of e-commerce that has made registering for online pharmacies easier are factors propelling business growth.

Brazil digital health market held largest revenue share in 2016 on an account of introduction of supportive initiatives such as, digitization of electronic medical record, the National Health System (e-SUS) and technological advents, paving growth path for digital health market.

Some of the prominent business players operating in global digital health market are Allscripts Healthcare Solutions, AT & T, Athenahealth, Biotelemetry, Cerner, Cisco Systems, eClinicalWorks, iHealth Lab, Koninklijke Philips N.V., LifeWatch, McKesson, and Qualcomm.

The business players develop technologically advanced and cost-effective healthcare solutions. Implementation of strategies to reduce healthcare expenses and deliver patient centric care along with acquisition to increase company’s revenue is the main focus of business players. For instance, in December 2016, Allscripts Healthcare Solutions Inc. acquired Core Medical Solutions. The acquisition has significantly increased the company’s global offerings and strengthened its presence in Australian markets.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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