The rising aging population, increasing price of advanced treatments,
and shrinking healthcare expenses by governments have impelled
healthcare providers to look for complementing solutions to sustain
future social and health care systems. Opportunities for deploying
mobile technology in a healthcare set-up have significantly increased
in the last few years. The proliferation of smart devices and
smartphones has played a crucial role in propagating digital health.
Notable developments in bio-sensing wearables such as glucose, blood
pressure, and diabetes monitors are further expected to augment the
interest in digital health.
Digital health enables access to real-time health care data.
Furthermore smartphones and wearable medical devices integrating an
increasing range of sensors to facilitate monitoring changes in
physiology. Therefore, the applicability of digital health is
expected to surge extraordinarily in the near future.
The report presents a granular analysis of the global digital health
market, studying the various aspects influencing the market’s
trajectory between 2016 and 2023. Factors aiding and inhibiting the
growth of the market have been analyzed in detail. The report also
presents insights into the strategies adopted by various companies
operating in the market.
Digital health refers to a system or solution that delivers effective
health care solutions using IT tools and products. It is possible to
provide better and more efficient care compared to traditional
healthcare via patient online services and digital diagnostic
techniques. Latest digital health technologies such as electronic
health records (EHR), wireless technologies, and digital diagnostic
systems encompass data such as patient history, medication,
allergies, immunization dates, radiology images, diagnosis,
laboratory and tests results, treatment plans, and insurance
information.
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The global digital health market is exhibiting robust growth due to
the increasing demand for advanced information systems in the health
care industry. Favorable policies by governments and the rising
investment by players in the healthcare information system (HIT) have
also been aiding the expansion of the digital health market.
Additionally, the market is also gaining impetus from the growing
demand for remote monitoring services in response to the
proliferation of home healthcare services.
On the flip side, certain restraints often associated with the global
digital health market include high capital expenditure, privacy and
security issues, expenditure incurred on maintenance requirement, and
inadequate infrastructure of the healthcare industry in developing
countries.
Regionally, North America dominates the global digital health market
and is expected to maintain its dominance through the forecast
period. This exponential surge witnessed by the regional market is
aided by the developed healthcare infrastructure, increased
healthcare spending, and the increasing incidence of chronic
illnesses in the region.
The digital health market is also witnessing attractive opportunities
in Europe. The European market is primarily aided by the increasing
geriatric population, rising prevalence of chronic ailments, and
technological advancements introduced in the HIT. However, during the
forecast period, the Asia Pacific digital health market is expected
to report growth at highest rate. The increasing investment in
healthcare and IT will support the growth of the digital health
market in Asia Pacific. To present insights into the competition
prevailing in the market, the report also profiles companies such as
General Electric Company, AT&
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