Market Research Report
US Digital Health Market (by Technology & Component): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)
|Published by||Koncept Analytics||Product code||987721|
|Published||Content info||104 Pages
Delivery time: 1-2 business days
|US Digital Health Market (by Technology & Component): Insights & Forecast with Potential Impact of COVID-19 (2021-2025)|
|Published: February 2, 2021||Content info: 104 Pages||
The U.S. digital health market is predicted to reach US$191.64 billion in 2025, progressing at a CAGR of 28.40%, over the period 2021-2025. The factors such as increasing geriatric population, growing usage of mobile devices, surging prevalence of arthritis, hike in healthcare expenditure, expanding urbanization and mounting penetration of internet users would drive the growth of the market. However, the market growth would be challenged by high capital cost and installations, lack of interoperability and data breach and security concerns. A few notable trends include upsurge in the number of healthcare apps, surging occurrence of chronic diseases, escalating penetration of electronic health record (EHR) systems and increasing importance of wearable devices.
The U.S. digital health market has been segmented on the basis of technology and component. In terms of technology, the U.S. digital health market can be bifurcated into mHealth, digital health systems, health analytics and tele healthcare. Whereas, the market can be split into services, hardware and software, on the basis of component.
The mHealth segment is the fastest growing market, owing to rapid digitalization, mounting occurrence of chronic diseases such as cardiovascular diseases and diabetes in the region, various technological advancements in the healthcare industry coupled with recent advancements in wearable technologies and high internet usage. In addition, the growing number of COVID-19 cases across the region in 2020, escalated the adoption of digital health solutions to maintain social distancing and to improve the communication between patients and healthcare professionals during the pandemic.
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