Digital Health Market is estimated to be US$ 281.1 Billion in 2030 at a CAGR 11.50% during the forecast period

 


Digital Health Market accounted for US$ 94.5 billion in 2020 and is estimated to be US$ 281.1 billion by 2030 and is anticipated to register a CAGR of 11.5%. Digital Health has a crucial role to play to improve the impact and efficiency of the modern healthcare. The digital health involves the use of new age information communication technologies that use digital, mobile, and cloud based platforms to improve the health of patients. Further the digital health offers platforms such as, telecare, telehealth, telemedicine that is beneficiary for patients to connect with healthcare provider.Further, the digital health market also reduces the costs of treatment due to personalized and precise medicine. Digital health is the convergence of the genomics and digital revolutions with health, healthcare, living and the society. Overall the digital health is used for diagnosis, treatment, consultation, and long term care services at economy of cost with greater access to the data pool.                                                            

The report " Global Digital Health Market, By Technology Platform (Tele health (Tele Medicine, and Tele Care) mHealth, Digital Health Information Systems (EMR/HER, Clinical Decision Support System (CDCC), Computerized Physician Order Entry (CPOE), and Others, Diagnostic and Monitoring Devices, and Therapeutic Devices (Digital Medicine, Respiratory Therapy Devices, Insulin Pumps, and Others) and Others), By Components (Software, Hardware and Services), By End User (Business to Consumers, and Business to Business) and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, and Africa) - Trends, Analysis and Forecast till 2030”

Key Highlights:

·         In June 2018, Medidata, a cloud storage and data analytics company, acquired Shyft Analytics for USD 195.0 million to have jointly developing data platforms that can be used in processes ranging from the beginning of the drug development phase to its commercialization.

Analyst View:

The increasing prevalence of aging population, with chronic disorders and others diseases fosters the digital health market. Furthermore, the increasing demand of personalized medicine is also expected to propel the digital health market. As digital health also encompasses genomics, information systems, wireless sensors, cloud computing and machine learning with modern healthcare. Moreover, the increased base of smartphones and tablets across globe especially in the developing countries would lead to higher adoption of digital health platform.

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Key Market Insights from the report:

The Global Digital Health Market accounted for US$ 94.5 billion in 2020 and is estimated to be US$ 281.1 billion by 2030 and is anticipated to register a CAGR of 11.5%. The Global Digital Health Market has been segmented on the basis of technology platform, components, end-user and region.

·         By Technology Platform, the market is segmented into Tele health (Tele Medicine, and Tele Care) mHealth, Digital Health Information Systems (EMR/HER, Clinical Decision Support System (CDCC), Computerized Physician Order Entry (CPOE), and Others, Diagnostic and Monitoring Devices, and Therapeutic Devices (Digital Medicine, Respiratory Therapy Devices, Insulin Pumps, and Others.

·         By Components, the market is segmented into Software, Hardware and Services.

·         By End-User, the market is segmented into Business to Consumers, and Business to Business.

·         By Region, the Global Digital Health Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape:

The key players operating in the global market of Digital Health include Allscripts Health Solutions, Inc. McKesson Corporation, Cerner Corporation, Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., Qualcomm Inc., Proteus Digital Health, Inc., Athenahealth, Inc., and Cisco Systems.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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