New York, NY, March 22, 2021 (GLOBE NEWSWIRE) — Facts and Factors have 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”.
“According to the research report, the global Digital Health Market was estimated at USD 84.08 Billion in 2019 and is expected to reach USD 220.94 Billion by 2026. The global Digital Health Market is expected to grow at a compound annual growth rate (CAGR) of 14.8% from 2019 to 2026”.
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 care 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 Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Digital Health Market?
2) What is the market size, share of the Digital Health Market?
3) Who are the top market players in Digital Health Market?
4) What will be the future market of the Digital Health Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
We at Facts and Factors (http://www.fnfresearch.com) understand how difficult it is for you to plan, strategize, or make business decisions, and as such, we have your back to support you in these uncertain times with our research insights. Our team of consultants, analysts, and experts has developed an analytical model tool for markets that helps us to assess the impact of the virus more effectively on the industrial markets. We are further implementing these insights into our reports for a better understanding of our clients.
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Top Market Players
Major players in the market are 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., among others.
Some are more list of players included in this report are, Cerner Corporation, Allscripts Healthcare Solutions Inc, Apple Inc., Telefónica S.A., Mckesson Corporation, Epic Systems Corporation, QSI Management LLC, AT&T, Vodafone Group, AirStrip Technologies, Google Inc., Samsung Electronics Co. Ltd., HiMS Orange Qualcomm Technologies Inc., Softserve MQure Computer Programs and Systems Inc., Vocera Communications, IBM Corporation, CISCO Systems Inc., BioTelemetry Koninklijke Philips N.V.
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The 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.
The rising growth of smartphone users around the world will be crucial in propelling the market forward. Market growth will be aided by rapidly expanding healthcare IT infrastructure in both developed and developing countries. Furthermore, as people become more conscious of the value of fitness and wellbeing, product acceptance will rise, propelling the market forward. The demand for remote monitoring solutions will increase as the volume of patients with chronic conditions rises. As a result of the 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. Due to these circumstances, the industry will see substantial demand in the future. However, concerns about the abuse of patient data, as well as high capital expenditure and maintenance expenses, may restrict the market growth in the short term. If businesses work to address these issues and bring the cost of digital health solutions down, product adoption rates will rise. These factors would contribute to the market’s expansion.
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Global Digital Health Market: Segmentation
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, telehealthcare, 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 the 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.
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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 telehealthcare 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.
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
The global digital health market is segmented as follows:
- Digital Health Systems
- Tele Healthcare
- Healthcare Analytics
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Value Chain and Supply Chain Analysis along with Horizontal and Vertical Integration Scenarios
- Manufacturing and Production Cost Structure Analysis including Labor Cost, Raw Material Expenses, and Other Manufacturing Expenses, wherever relevant
- Overview of Key Marketing Strategies and Key Industry vertical Adopted in the Market
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