Realization of the core roles that digitization and Internet of Things together can play in digital health market will bring about interesting business dynamics to watch for. Digital health industry is gaining impetus as it is providing cost-effective solutions to the large patient pool worldwide.
Expensive advanced treatments, increase in number of visits to hospitals, and independently living geriatric population will prompt large population to opt for digital health technology over the traditional approach. Rise in use of smartphones, tablets, and other mobile platforms is set to fast-track the growth of digital heath market over the coming seven years. “Digital health market size is estimated to register an annual growth rate of 25.9% over the period of 2016-2024.”
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What kind of technological trends are influencing digital health market?
Electronic health records (EHR) is dominating digital health industry as these devices allow seamless flow of patients’ information in real-time. EHRs hold patients’ medical history and treatment record which further helps in extracting valuable information pertaining to their health. EHR market is anticipated to surpass USD 116 billion growing at a CAGR of 16.7% over 2016-2024.
Another lucrative technological trend influencing digital health industry is the mHealth market. Increasing usage of mobile cellular network even in the remote areas is changing the way healthcare is delivered. Using this technology, the providers are seeking to maximize their patient outreach at minimum costs. mHeath market is estimated to grow at a massive 36.5% CAGR over the period of 2016-2024.
Health analytics and tele healthcare technologies are also gaining momentum as they play a crucial role in delivering an affordable and efficient patient care.
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Which are the major regions that market players should consider?
U.S. digital health industry with target revenue slated to surpass USD 152 billion by 2024, will be continuing its dominance over the global landscape. Growing prevalence of chronic diseases, rising geriatric population, and implementation of regulatory acts will generate attractive grounds for digital health market.
Germany digital health market is anticipated to generate revenue over USD 40 billion by 2024, having had 30% of the regional share in 2015. The remarkable regional growth is subject to, increase in smart phone penetration, favorable regulations toward e-health, rapid technological innovations, and rise in usage of eHealth cards
Global digital health market is witnessing vigorous competition as it is fairly fragmented with start-ups, large corporations, and local players being the stakeholders of the industry. The key industry participants include Qualcomm, Philips Healthcare, McKesson Corporation, AT & T, iHealth Lab, and eClinicalWorks. Major players will hold maximum share, owing to strong financial muscle and brand recognition.
Browse key industry insights spread across 110 pages with 182 market data tables & 8 figures & charts from the report Digital Health Market in detail along with the table of contents:
Digital health market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD billion from 2012 to 2024, for the following segments:
Global Digital Health Market, By Technology
The above information is provided on a regional and country basis for the following:
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