Market Research Report
Digital Health - Global Market Outlook (2020-2028)
|Digital Health - Global Market Outlook (2020-2028)|
Published: April 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Digital Health Market is accounted for $96.50 billion in 2020 and is expected to reach $341.17 billion by 2028 growing at a CAGR of 17.1% during the forecast period. Growing number of smartphone users, rowing awareness about importance of fitness and health among the population are driving the market growth. However, high-capital expenditure, privacy and security concerns are hampering the growth of the market.
Digital health includes digital care programs which are convergence of digital technologies with health, healthcare, living, and society to enhance the efficiency of healthcare delivery to make medicine more personalized and precise. It refers to the application of modern technologies and digital services to improve the health and medical condition among individuals. Digital health allows medical practitioners to diagnose the disease early and there by offering better treatment to the patients. The field of digital health is wide and it includes remote patient monitoring, ingestible sensors, wearable gadgets, electronic medical records, and many others. Digital health field has managed to help patients in monitoring and managing the well-being health conditions and to reduce the overall healthcare costs.
Based on the technology, the mhealth segment is going to have lucrative growth during the forecast period as mhealth technologies aid healthcare organizations to decrease medical costs and offer remote patient monitoring, so the need for visiting hospitals frequently is eliminated and moreover mhealth assists in wellness and disease management, thereby leading to its increasing demand.
By geography, North America is going to have high growth during the forecast period as there is surging adoption of digital health solutions, enhancements in the healthcare infrastructure in North America region and many initiatives are being taken by several government associations for implementing this technology in healthcare settings, which in turn results in the rise in healthcare spending drives the regional domain.
Some of the key players profiled in the Digital Health Market include Qualcomm Incorporated, Cerner Corporation, eClinicalWorks LLC, Siemens AG, Cognizant, athenahealth Inc., Microsoft, General Electric Company, Koninklijke Philips N.V., Cisco Systems Inc., IBM Corporation, Samsung Electronics Co., Ltd., Vodafone Group, Apple, Inc. and 3M.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.