Digital Health Market size worth $ 325,730.94 Million, Globally, by 2028 at 16.13% CAGR: Verified Market Research®

The Digital Health Market is gaining traction owing to the innovations in the sector to reduce the inefficiencies in healthcare services.

Jersey City, New Jersey, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Digital Health Market” By Technology (Wearable Technology, Mobile Health Technology, Telehealth Technology), By End User (Healthcare Providers, Payers, Healthcare Consumers), and By Geography. According to Verified Market Research, the Global Digital Health Market size was valued at USD 96,794.51 Million in 2020 and is projected to reach USD 325,730.94 Million by 2028, growing at a CAGR of 16.13% from 2021 to 2028.

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Global Digital Health Market Overview

The growing need for remote patient monitoring services & increasing usage of tablets and smartphones is boosting the market growth. Geriatric people are vulnerable to diseases owing to their low immunity levels and high recovery time; their surging population is positively impacting the demand for patient care. This in turn is driving the requirement for digital health solutions. The rising growth of smartphone users around the world is further expected to augment the market growth. For instance, across the globe, the number of tablet and smartphone users has increased significantly over the past five years. There has been a tremendous rise in the use of smartphones by physicians in the U.S. leading to increased practice of digital health. The initiatives by the government organization and healthcare communities to create awareness regarding the use of digital health and easier government regulations for the adoption of several healthcare IT solutions will augment the market growth. Moreover, raising the venture capital and funding from healthcare providers to the start-ups that provide such services will further drive the market growth.

However, Rising security concerns for data such as cyber-attacks and unauthorized access to information technology systems might limit the digital health market growth in the coming years. The security concerns regarding the patient data might hamper the market value. The lack of skilled IT professionals all across the globe in the healthcare sector might hamper the growth of the digital health market. The healthcare sector is continuing to experience a shortage of qualified healthcare IT staff that, in the view of some observers, is growing worse. Moreover, the lack of awareness regarding digital health practices is mainly due to the lack of universal healthcare coverage, which leads to the unwillingness of people towards using advanced technologies. Nevertheless, the financial constraint remains one of the main factors in attaining and maintaining digital health services.

Key Developments

  • Insight Enterprises announced the launch of Collaboration Services for Cisco Webex Calling, a cloud-based calling system.
  • Siemens Healthineers has announced that its purchase of Varian Medical Systems is complete.

Key Players

The major players in the market are Siemens Healthcare Private Limited, Cisco Systems, Inc., Qualcomm Technologies, Koninklijke Philips, McKesson Corporation, Qualcomm Technologies, Cerner Corporation, AliveCor, Inc., Acurable, Amwell, GRAIL, and Omron Healthcare.

Verified Market Research has segmented the Global Digital Health Market On the basis of Technology, End Users, and Geography.

  • Digital Health Market, By Technology
    • Wearable Technology
    • Mobile Health Technology
    • Telehealth Technology
    • Others

  • Digital Health Market, By End User
    • Healthcare Providers
    • Payers
    • Healthcare Consumers
    • Others

  • Digital Health Market by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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