NEW YORK, United States, Sept. 08, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “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” in its research database.
“According to the latest research study, the demand of global Digital Health Market size & share was valued at approximately USD 84.08 Billion in 2019. The market is expected to grow above a CAGR of 14.8% and is anticipated to reach over USD 220.94 Billion by 2026.”
The report analyses the Digital Health market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Digital Health market.
What is Digital Health? How big is the Digital Health Industry?
Market Overview:
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 automated career 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.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2020 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2020
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Industry Major Players, Historical and Forecast Growth, Porter's 5 Forces Analysis
- Facts and Factors research methodology
Key Insights from Primary Research
- As per the analysis, the Digital Health market is likely to grow above a CAGR of around 14.8% between 2020 and 2026.
- The Digital Health market size was worth around US$ 84.08 Billion in 2019 and is estimated to hit approximately US$ 220.94 Billion by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The Rising Adoption of mHealth Apps in the Healthcare Industry.
- The mhealth technology segment will have the highest market share.
- On the basis of region, the North America Region Dominates the Global Digital Health Market.
Market Growth Drivers:
- 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.
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Digital Health Market: COVID-19 Impact Analysis
COVID-19 pandemic forcing hospitals to triage patients, remote monitoring systems will become more widely used to protect the health of patients with chronic diseases. Besides that, patients with chronic illnesses and the elderly are more vulnerable to infection by the coronavirus. As a result, caregivers would choose remote monitoring of these patients to prevent disclosure and improve patient quality of life, leading to the growth of the digital health industry.
Competitive Players:
The report contains qualitative and quantitative research on the global Digital Health Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
Some of the main players in the global Digital Health market include;
- AT&T
- Vocera Communications
- AirStrip Technologies
- Apple, Inc.
- CISCO Systems Inc.
- Allscripts
- Cerner Corporation
- Mckesson Corporation
- Google Inc.
- Vodafone Group
- IBM Corporation
- Qualcomm Technologies Inc.
Digital Health Market: Segmentation Analysis
Based on the components, the global digital health market is segregated into software, hardware and services. In 2020, the services group had the highest revenue share. Companies are concentrating on providing post-installation services such as staffing, training, clinical, optimization, and other services, as growth for software platforms and the exponential rise of software up-gradation for the implementation of an assortment of healthcare applications, are accelerating the segment.
The global digital health market is divided into four categories based on technology: mhealth, digital health systems, tele-healthcare, and healthcare analytics. In 2020, the mhealth technology segment will have the highest market share of all. The segment is being driven by growing mobile and internet access adoption, the availability of many mhealth applications, and growing doctor and patient adoption of these technologies. The segment's growth is being fuelled by rapid technological advances and the introduction of new products.
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
Regional Analysis:
- 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.
Key questions answered in this report:
- What is the market size and growth rate forecast for Digital Health industry?
- What are the main driving factors propelling the Digital Health Market forward?
- What are the leading companies in the Digital Health Industry?
- What segments does the Digital Health Market cover?
- How can I receive a free copy of the Digital Health Market sample report and company profiles?
Report Scope:
| Report Attribute | Details |
| Market Size in 2019 | USD 84.08 Billion |
| Projected Market Size in 2026 | USD 220.94 Billion |
| CAGR Growth Rate | 14.8% CAGR |
| Base Year | 2019 |
| Forecast Years | 2020-2026 |
| Key Market Players | AT&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. and others |
| Key Segment | By Component, Technology, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
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The global Digital Health market is segmented as follows:
By Components
- Software
- Hardware
- Services
By Technology
- mHealth
- Digital Health Systems
- Tele Healthcare
- Healthcare Analytics
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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