Technological advancements and government initiatives favor the growth of digital health technology in the coming years.
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According to MarketIntelReports' “Global and Chinese Digital Health Industry, 2017 Market Research Report”:
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Digital health solutions play an important role in supporting healthcare functions like chronic disease management, and population health management. The need for remote patient monitoring drives the growth of the Digital Health Market.
Growing number of government initiatives and usage of IT in medical and healthcare drives the need for digital health technology during the forecast period. Smartphones, tablets, and other mobile platforms are being used globally.
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This trend is beneficial for the market growth. Growing number of diseases like cancer, cardiovascular, and diabetes also propel the demand for the market.
Scope & Regional Forecast of the Digital Health Market
Growing prevalence of diabetes and other diseases drive the demand for the Digital Health Market in the forecast period. Technological advancement in medical infrastructure supports the need for mobile health apps.
North America has the largest share in the market. Asia Pacific will have better opportunities for the industry in the coming years.
Favorable initiatives lead to the latest healthcare IT trends that support the industry’s growth. Eg. Us has implemented HITECH Act also known as Health Information Technology for Economic and Clinical Health.
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The lack of infrastructure in developing countries restricts the growth of digital health sector. The EMR/HER segment will dominate the market.
This is due to the need for reducing healthcare costs and improving healthcare service quality. Mhealth technology improves the healthcare cost efficiency, since providers want to maximize their patient outreach at less costs.
Health analytics can reduce misdiagnosis, healthcare costs, and provides quality information. Robust growth of this segment will showcase the health technology trends.
Increasing internet and smartphone penetration and new technological solutions brings lot of opportunities to the industry.
Telehealth care segment will have a favorable growth due to the increased funding and prevalence of chronic diseases. This leads to more demand for electronic health records and nursing.
Segmentations & Key Players Involved in the Digital Health Market
The Digital Health Market can be broken down into various segments as follows:
- Region- Americas, EMEA, and APAC.
Some of the key players involved in the Digital Health Market are as follows:
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