Dublin, Nov. 25, 2020 (GLOBE NEWSWIRE) -- The "Digital Health - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The Pandemic Removes All Barriers to Digital Healthcare Including Patient Behavior. Market to Race Ahead With an 18.8% CAGR
The global Digital Health market is expected to witness a 37.1% spike in growth in the year 2021 and thereafter will continue to grow and reach US$508.8 billion by the year 2027, trailing a post COVID-19 CAGR of 18.8% over the analysis period 2020 through 2027.
Non-COVID-19 healthcare has massively migrated to digital platforms over the last 8 months. From telemedicine to remote patient monitoring & management, new service delivery platforms have been adopted at lightning speeds.
With the only available defense against COVID-19 being personal hygiene & mass physical distancing, digital technologies are coming into the spotlight to bridge the forced physical divide between doctor & patients. In several countries worldwide, searches for Doctor near me declined by 60%, while online consultations have risen by 350% in the same period and online pharmacy sales have skyrocketed 600%. Technology is helping the development of remote medical monitoring platforms to assist healthcare service providers to address the medical needs of patients located in remote areas and suffering from diverse health issues.
The COVID-19 crisis is compelling government organizations and hospitals to swiftly adopt other models such as telemedicine as an alternative for delivering healthcare. In the era of COVID-19, when people are skeptical to leave their homes for treatments a follow-up, telehealth services are playing an important role. Online video conferencing platforms such as face-time and Zoom are used for virtual medical consultation by patients for all kind of services including emergencies, initial diagnosis and subsequent follow ups and even coronavirus testing.
Service and technology providers are increasing efforts to demonstrate the advantages of virtual care solutions and telemedicine to healthcare delivery enterprises. Physical appointments and visits to the clinics and hospitals for diagnosis and treatment have become difficult in the time of stay-at-home and social distancing norms. Hence, hospitals are adopting digital platforms to reach out to patients for better medical solutions.
Technologies such as 'digital front door' are being used to provide virtual patient access. System has the benefits of a satisfying experience and improved service efficiency and increased revenue. This strategy leverages technology to engage patients at all touch-points throughout their journey from initial diagnosis to final treatment and recovery. Healthcare related apps are developed on smartphones and websites to provide an interface for medical service providers and patients to interact. Predictive analysis, healthcare analytics,3-D printing, tele-medicine, digital front door, AI chat bots are some areas of technological intervention in the field of medicine that are gaining prominence.
Predictive analysis is being widely used to predict the number of COVID cases in affected areas. Unprecedented and unpredicted rise in number of COVID infected patients have stressed the healthcare infrastructure capacities resulting in shortage of medicines, beds and even required medical equipment. Certain hospitals are applying predictive analytics to identify the patient location and intensity of infection.
Competitors identified in this market include, among others:
- Allscripts Healthcare Solutions, Inc.
- AT&T, Inc.
- Athenahealth, Inc.
- Cerner Corporation
- Cisco Systems, Inc.
- eClinicalWorks LLC
- Epic Systems Corporation
- General Electric Company
- Koninklijke Philips NV
- McKesson Corporation
- Qualcomm, Inc.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- Digital Healthcare Gains Spotlight Amid COVID-19 Pandemic
- Digital Technologies Gaining Adoption Amid COVID-19
- List of COVID-19 Contact Tracing Apps
- Digital Penetration Aids in Controlling COVID-19
- Telemedicine Adoption Reaches New Heights Amid the Pandemic
- Digital Health Investments Record Strong Growth in 2020 1H
- Mobile Health Apps Gain Interest Amid the Pandemic
- Digital Health: An Introduction
- Market Outlook
- Geographic Landscape
- mHealth: Holds the Largest Share
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Remote Monitoring of Patients and Telemedicine to become Mainstream
- Growing Role of Telemedicine Apps During COVID-19 Pandemic
- COVID-19 Augments Demand for Health Analytics
- Digital Health Leverages Predictive Analytics
- Introduction of 5G to Speed up Market Penetration
- AI and Chatbots Make Significant Contribution to Triage Patients
- Robots Provide Patientcare Releasing the Burden on Medical staff Amid the Pandemic
- Wearable Gadgets Bring in Healthcare Disruption
- Partnering with Technology Majors to Spur Innovation
- Impact of Digital Technology on Radiology Sector
- mHealth Care: A Prominent Trend in Digital Healthcare Market
- Rise in Integration of AI in Mobile Health Apps
- Patient Generated Health Data: An Important Resource for Medical Training and Research
- Cloud Computing: An Expanding Paradigm
- Artificial Intelligence to Play a Significant Role in Improving Clinical Outcomes
- The Internet of Things (IoT) to Increase Accessibility
- Need to Improve Transparency to Drive Blockchain Technology Adoption
- Augmented Reality Transforms Medical Treatment
- Prominence of Big Data in Mobile Health Applications
- Eminence of Cloud-based apps in the Mobile Health Care Industry
- Inclination of Young Consumers Towards Digital Health Technology: Opportunity in Store
- Faster Processing of Payments through Mobile Payment Apps Encourage Use of MHealth Apps
- Surgeons Use Video-Conferencing as an Educational Tool
- Rising Healthcare Costs Drive Significance of Digital Health
- Chronic Diseases Management and Associated Costs Drive Medical Apps Adoption
- Ballooning Global Population Offers Significant Growth Opportunities
- Shortage of Medical Professionals: Mobile Medical Apps Come to the Rescue
- ISSUES AND CHALLENGES
- Protecting Patient Integrity and Building Trust: A Major Challenge
- Cyber Security, and Maintaining Regulatory Compliance
- Recruiting, Training, and Retaining the Best Talent
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- GEOGRAPHIC MARKET ANALYSIS
- UNITED STATES
- Market Overview
- Impact of COVID-19 on Digital Health
- COVID-19 Impact on Digital Health Venture Funding
- Outlook
- Telemedicine to Witness Increased Adoption
- Virtual Clinical Trials And AI Technology Gains Interest
- Healthcare Facilities Turn to Mobile Technologies to Reduce Costs
- On-body Devices and Wearables Gain Traction
- Data Analytics Find Wider Adoption in Healthcare
- Changing Demographics Accelerate the Invasion of Digital Health Technologies
- Advances in Digital Health Policies
- Value-Based Care (VBC) Reimbursement Models Gain Focus
- Market Analytics
- CANADA
- Adoption of Digital Health e-Services Increases in Canada Benefiting Both Patients and Healthcare System
- Market Analytics
- JAPAN
- CHINA
- Market Overview
- Market Analytics
- EUROPE
- Market Overview
- Opportunities and Trends in Digital Health
- Market Analytics
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- Pandemic Drives Tele Health
- Market Analytics
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- Market Overview
- Market Analytics
- REST OF WORLD
IV. COMPETITION
- Total Companies Profiled: 115
For more information about this report visit https://www.researchandmarkets.com/r/gsnci
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