Digital Healthcare Market Size, Growth and Trends Analysis By Technology (Digital Health Systems, Telehealth care, mHealth, and Healthcare Analytics), by Application (Cardiology, Diabetes, Neurology, Sleep Apnea, Oncology, and others), By Delivery Mode (On-Premise and Cloud-Based), Components (Software, Services, and Hardware), By End User and by Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa), Forecast till 2025
Digital Health Market Highlights
Market Research Future (MRFR) studied the Digital Healthcare Market across the assessment period. Across the 2019 to 2025, the Digital Health Market can rise at 26.30% CAGR. By 2025, the Digital Health Market can generate revenue of USD 3,28,887.8 Mn. The expansion of the Digital Health Market can be attributed to its robust operation base that functions on dynamic technologies, such as electronic health record (EHR), healthcare big data, and electronic medical record (EMR) among others.
Digital healthcare facilitates in streamlining and seamless operation of healthcare-related processes, which contribute to the market gain its momentum. Advantages, such as easy management of clinical data and uninterrupted payment procedures for claims or any payments can promote the rise of the Digital Health Market across the review period. The increase in the application of electronic health records for the maintenance of patients’ health records, complying with government mandates, can bolster the Digital Health Market in the near future.
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Digital Health Market Segment Analysis
The segment assessment of the Digital Health Market is done by Application, Technology, Components, Delivery Mode, and end User.
The technology based segment of the Digital Health Market are mHealth, telehealthcare, healthcare analytics, and digital health systems. The digital health system sub-segments are e-prescribing systems and EHR or EMR. The telehealthcare sub-segments are LTC monitoring, remote medication management, activity monitoring, and video consultation. The mHealth segments are mHealth apps and wearables. The Wearables sub-segments are neurological monitors, BP monitors, pulse oximeters, glucose meters, and sleep apnea monitors are among others. The mHealth apps segments are medical apps and fitness apps. Among all the technology segments, the digital health systems segment can acquire about 44.4% share of the global market by 2025.
The application based segment of the Digital Health Market are diabetes, cardiology, sleep apnea, neurology, and oncology among others. Among all application segments, the cardiology segment can secure about 22.3% share of the overall market.
The delivery mode based segment of the Digital Health Market are on-premise, software, and cloud based. The software delivery mode based segments can acquire 58.9% share of the worldwide Digital Health Market through the review period.
The components based segment of the Digital Health Market are services, software, and hardware.
The end user based segments of the Digital Health Market are healthcare payers, healthcare providers, and pharmaceutical companies among others. The healthcare providers segment under the end-user, can register 40.2% share of the global.
Digital Health Market Regional Analysis
The Americas can secure the largest portion of the global Digital Health Market as the rate of adoption of EMRs and EHRs is high. Moreover, the supportive government of the region are introducing initiatives for improving healthcare facilities in the region. The rise in the quality of care at effective healthcare costs can drive the regional Digital Health Market.
In Asia Pacific, the Digital Health Market can thrive due to the existence of reputed companies in the region, supporting research and development. In Europe, similar drivers for the market are observed. In Middle East & Africa, the Digital Health Market can rise at a gradual pace due the rise in the support by governments for improving the healthcare IT industry. The intervention of technological advancements in the healthcare domain can improve the impetus.
Digital Health Market Key Players
iHealth Lab Inc. (US), General Electric Company (US), Koninklijke Philips NV (The Netherlands), Cerner Corporation (US), BioTelemetry, Inc. (US), McKesson Corporation (US), Cisco Systems, Inc (US), Athenahealth Inc. (US), AT&T Inc.(US), EClinicalWorks (US), Allscripts Healthcare, LLC (US), and Qualcomm Technologies, Inc.(US) are some well-known companies that are operating in the Digital Health Market that are recognized by MRFR.
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