Digital Healthcare Market 2019 Outlook Reviews The Current State Of The Global Health Care Sector And Explores Trends And Issues Impacting Health Care Providers, Governments, Payers, Patients, And Other Stakeholders. It Also Outlines Suggestions For Them As They Seek To Redefine The Health Care Ecosystem And Looks At Examples From The Market.
The Global Market For Digital Healthcare Is Set To Expand At A Compound Annual Growth Rate (CAGR) Of 11.8% (2018-2023) Reports Market Research Future (MRFR).
The market stood at a valuation of USD 180 Bn in 2017. Growing popularity of wearable medical devices is a major force behind the market growth. Rise of wearables has also led to increased need for relevant communication platforms that work in tandem. These platforms enable various types real-time health readings fed by wearable devices.
Digital healthcare is penetrating healthcare markets in various parts of the world. Growth of the internet has also influenced the adoption of digital healthcare.Technological advanced, rapid digitization in healthcare, increasing number of internet savvy individuals and increased focus on delivering cost-efficient healthcare are some of the key factors influencing the global market for digital healthcare.
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Global Digital Healthcare Market: Competition Analysis
Key companies mentioned in MRFR’s report are AT & T, Biotelemetry, Inc., Cisco Systems, Koninklijke Philips N.V., AllScripts Healthcare Solutions, Inc., Qualcomm, Athenahealth Inc., LifeWatch AG, Cerner Corporation, iHealth Lab, Inc., General Electric Company, McKesson Corporation and EClinicalWorks
- Inhealthcare, a leading UK-based digital healthcare company has reported sealed a collaboration deal with sin NHS organisations in the North East. The agreement will allow both patients and clinicians leverage a slew of digital programs collectively known as ‘health call’.
- Livongo, a US-based healthcare technology companies that focus of offering solutions to patients with diabetes is reportedly going public. The decision is aligned with the increased digital healthcare IPOs. The firm priced its shares at USD 28 each, taking its valuation to over 2 Bn.
Global Digital Healthcare Market: Segmental Analysis
MRFR’s report includes a thorough segmental analysis of the market based on component, technology and end user.
On the basis of component, the market has been segmented into services, software and hardware. On the basis of technology, the market has been segmented into health analytics, mHealth, and telehealthcare. The mHealth segment is further sub-segmented into apps and wearables. The apps segment is further sub-segmented into fitness apps and medical apps. The wearables segment is further sub-segmented into glucose monitor, sleep apnea monitors, BP monitor, neurological monitors, pulse monitor and others.
The telehealthcare segment is further sub-segment into telehealth (video consultation and LTC monitoring) and telecare (remote medication management and activity monitoring). By end user, the market has been segmented into payers, pharmaceutical companies, providers, employers and others.
Global Digital Healthcare Market: Regional Analysis
The Americas represent the brightest spot in the global digital healthcare market. This is mainly owing to presence of an advanced healthcare system in the U.S. Moreover, a growing patient pool and faster uptake of innovative healthcare solutions is having propelling the market forward in the region. Rising cases of obesity and diabetes in the region coupled with increased occurrence of chronic disorders continues to drive the need for effective healthcare solutions in the Americas. According to the data released by Centers for disease control and prevention (CDC) close to 9.4% of the US population was diabetic.
Europe is projected to remain the second largest market for digital healthcare during the forecast period. Many European countries boast world-class healthcare systems at the same time the per capita healthcare expenditure remains high in the region. The market is also benefiting from the high healthcare penetration in the region.
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The market in Asia Pacific is poised to grow at an impressive pace over the next several years. Due to improving medical diagnostics, the patient population in the region is rising fast. The region present tremendous opportunities to the healthcare sector. These factors make APAC an attractive proposition for market players. In APAC, Japan currently represents the largest market for digital healthcare.
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