As per the statistics of TMR, the global digital health market has
been envisaged to rake in a revenue of US$536.6 bn by the end of 2025
from US$196.3 bn in 2017 at a 13.4% CAGR. With regard to revenue,
healthcare information systems had accounted for a king’s share in
2016. On the basis of regional distribution, North America had taken
the lead in the market in the same year.
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The world digital health market has been prophesied to gain a strong
impetus due to the surging adoption of IT in the healthcare industry
and growing count of government initiatives in favor of healthcare
providers and also patients. The rapid improvement of healthcare IT
infrastructure and rising usage of mobile platforms such as tablets
and smartphones could bode well for the market. Healthcare providers
have been anticipated to up the adoption of mHealth technologies for
monitoring the health of patients in view of the elevating pressure
for cost reduction.
The practice of digital health in the U.S. has been receiving a
telling boost owing to the striking increase in the usage of
smartphones by physicians. The world digital health market has been
predicted to ride its growth on the back of the advent of
technologically sophisticated healthcare IT facilities backed by
promising government support. The market could boast of a robust
growth platform considering the fruitful integration of healthcare
systems with enhanced government support.
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The other side of the coin could reveal a slack in growth for the
international digital health market. This has been envisioned to be
because of certain factors such as the poor size of healthcare
infrastructure in emerging countries, high maintenance bills,
security and privacy issues, and extortionate capital outlay.
However, the international digital health market has been foreseen to
offer a wealth of auspicious business prospects in respect of the
emergence of remote patient monitoring services that allow to examine
health problems from remote locations. The adoption of these services
has been expected to propel due to the burgeoning prevalence of
diabetes, cancer, cardiovascular, and other diseases. The market
could also expect opportunities birthing from the rise of geriatric
population living independently and profiting from remote patient
monitoring services.
The global digital health market has been prognosticated to testify
the existence of leading companies that showcase a grander regional
outreach on account of their involvement in a range of digital health
product categories. According to a report by Transparency Market
Research (TMR), some of the dominant players operating in the market
could be Philips Healthcare, McKesson Corporation, Allscripts
Healthcare Solutions, Inc., Cerner Corporation, and Agfa-Gevaert N.V.
The players have been circumstantially profiled in the report on the
basis of various aspects such as recent developments, product
portfolio, and key business strategies.
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