Digital Health Market Size By Technology [Tele healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitor, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors), Apps (Medical Apps, Fitness Apps)}, Health Analytics, Digital Health Systems (Electronic Health Record, e-prescribing Systems)], Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Russia, Poland, China, India, Japan, Australia, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

Published Date: March 2018 | 240 Pages | Report ID: GMI833 Report Format: PDF

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Industry Trends

Digital Health Market size was valued over USD 60.0 billion in 2016 and is expected to witness more than 26% CAGR from 2017 to 2024.
 

U.S. Digital Health Market, By Technology, 2013 – 2024 (USD Billion)
U.S. Digital Health Market, By Technology, 2013 – 2024 (USD Billion)

 

Rapidly improving healthcare IT infrastructure coupled with escalating demand for remote patient monitoring services and growing number of venture capitalist investments are factors driving digital health market. The development of healthcare IT as well as favourable government initiatives has largely encouraged adoption of numerous healthcare IT solutions such as remote patient monitoring, e-prescribing systems, electronic medical records, and wearable medical devices.
 

Rising use of smartphones by physicians, growing number of mobile applications for healthcare needs and government driven initiatives are anticipated to propel business growth. Steady amount of funding for digital health and increasing investments offers immense opportunities for investors thereby, fuelling industry growth.
 

Increasing need for remote patient monitoring services further boosts market growth. This is attributable to capability of digital health to monitor various chronic conditions from remote location. Furthermore, growing occurrence of diseases such as diabetes, cardiovascular and cancer will propel adoption of remote patient monitoring services. Security concerns regarding patient data, high capital expenditure and maintenance requirement will hinder industry growth during the forecast timeframe.
 

Digital Health Market, By Technology

Digital health systems technology business segment accounted for largest market share in 2016 due to high potential and increased penetration of tablets, and smartphones coupled with improving access to healthcare by digital systems. Moreover, advanced technology such as Radiology Information System (RIS) and Electronic Health Record (HER) that reduces medical documentation timelines and aids in investing efforts for diagnostic procedures will boost business growth. Favourable government initiatives along with rapidly improving IT infrastructure are factors that will positively impact industry.
 

mHealth technology business segment is anticipated to witness robust growth in foreseeable future. The growth is attributable to wide-ranging applications along with approval and launch of advanced mobile technology. Applications include treatment and diagnosis support, epidemic outbreak as well as disease tracking, remote data collection, point of care diagnostic, & remote monitoring. In addition to approval of advanced medical technology further stimulates business growth. For instance, Kardia Mobile device is the AliveCor’s FDA 510(k) and EU Class II approved mobile technology that used in clinical research. In November 2017, the heart monitor device received FDA 510(k) clearance. It is clinically authorized mobile ECG system obtainable, and it is established across the world. The device enables people to yield an active role in their cardiac health by means of such precise ECG recordings. Such advanced mobile technology is projected to propel mhealth technology segment growth.
 

Digital Health Market, By Region

In North American region, U.S. digital health market accounted for largest share in 2016 on an account of high occurrences of chronic diseases and growing elderly population base. Growing initiatives for development of smart manufacturing infrastructure that will assist operators to make real time use of big data and high technology adoption are factors boosting business growth.
 

Germany held the largest revenue share in European digital health market market and is estimated to dominate over the coming years. Digital healthcare solutions development is driven by growing demand for healthcare services in the country. Implementation of E-Health law that aims at creation of electronic health card for everyone in the nation by 2018 will propel business growth. Additionally, the card will include health data that can be accessible by hospitals, doctors, as well as pharmacies across the nation with patient consent; such implementations are most likely to boost market growth.
 

Japan accounted for largest Asia Pacific digital health market market share in 2016 owing to rapid adoption of telehealth and mobile health technology. Growing joint ventures for digital health solution in Japan and increasing demand for digital health are factors further propelling business growth.
 

Competitive Market Share

Some of the prominent players of global digital health market are Allscripts Healthcare Solutions, AT & T, Athenahealth, Biotelemetry, Cerner, Cisco Systems, eClinicalWorks, iHealth Lab, Koninklijke Philips N.V., LifeWatch, McKesson, and Qualcomm. Augmented emphasis on R&D investment for development of advanced technology for integration of health data and growing venture capitalists’ investment are the foremost strategies implemented by these companies to sustain their position in market.
 

Digital Health Industry Background

 

Digital Health Market Segmentation

Government emphasizing on development of advanced digital health technologies for improving patient care along with rapid improvisation in healthcare IT infrastructure will drive digital health industry. Escalating use of tablets, smartphones and other mobile platforms coupled with growing investments by venture capitalist will further propel business growth. Industry is projected to exhibit lucrative growth in coming years owing to rising demand for remote patient monitoring services and launch of advanced technologies. Tele-healthcare is projected to overcome shortage of physicians and improving factors such as patient access to care, and patient outcomes along with making healthcare systems cost effective. Aforementioned factors are possible through tele-healthcare thereby, boosts digital health industry growth.
 


What Information does this report contain?

Historical data coverage: 2013 to 2016; Growth Projections: 2017 to 2024.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.


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