According to the research study, the global digital health market was worth US$179.6 bn in 2016. Expanding at a CAGR of 13.40% during the period from 2017 to 2025, the market is projected to reach US$536.6 bn by the end of the forecast period. Software, hardware, and services are the key segments of this market based on components. The demand for digital health services is comparatively higher than other digital health components and is projected to remain high over the forthcoming years, states the research report.
Strong Demand for Healthcare Information Systems
The global market for digital health is assessed on the basis of the product, component, end user, and the geography. Based on the product, the market is classified into wearable devices and healthcare information systems. Among the two, healthcare information systems leads the global market due to the significant rise in the adoption of technological advanced products, such as telehealth, EHR/EMR, and population health management. Further, the healthcare information segment is bifurcated into clinical solutions and non-clinical solutions. Clinical decision support system (CDSS), EHR/EMR, computerized physician order entry (CPOE), telehealth, mHealth, and population health management are the key segments of clinical solutions. Of these, the market for mHealth is anticipated to propel at a significantly high growth rate on account of the rising penetration of smartphones across the world and the augmenting levels of awareness regarding health and fitness among people across the world.
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North America to Remain on Top
On the basis of the geography, the global market for digital health has been segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe in this research study. Among these, the North America market has acquired the dominance, owing to the presence of advanced medical and healthcare infrastructure in this region. This regional market is anticipated to remain on the top over the next few years, thanks to the high number of well-established players. Asia Pacific and Europe are also expected to witness a significant rise in the years to come, states the research report.
The global market for digital health is demonstrating a competitive business landscape, finds a new research study by Transparency Market Research (TMR). Agfa-Gevaert N.V., Allscripts Healthcare Solutions Inc., Cerner Corp., McKesson Corp., GE Healthcare, Philips Healthcare, Siemens Healthineers, Truven Health Analytics, Epic Systems Corp., Qualcomm Inc., and Cisco Systems Inc. are some of the prominent players in this market. The leading companies are concentrating on expanding their regional bases to strengthen their position in the global market. Over the coming years, these vendors are expected to engage into mergers, acquisitions, and strategic partnerships to gain a competitive advantage over their peers, states the research report.
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