Market Overview:

The surge in the utilization of big data in healthcare, the widespread adoption of Electronic Health Records (EHR) and Electronic Medical Records (EMR) systems, along with the facilitation of maintaining patients’ electronic health records and regulatory mandates are driving forces propelling the digital healthcare sector. Digital health encompasses the remote management of chronic ailments through communication and information technologies in healthcare. This market encompasses personalized medicines, wearable technologies, telemedicine, mobile health (mHealth), and medical information technology (IT), offering a plethora of services facilitating access to chronic disease management and early diagnosis.

According to an extensive research report by Market Research Future (MRFR) titled “Digital Health Market Information By Technology, Application, Delivery Mode, Components, End User and Region – Forecast till 2032,” the market was valued at USD 167 billion in 2021 and is forecasted to attain USD 1.1 trillion by 2032, exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 22.2% during the forecast period of 2022-2032.

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The key drivers fostering the growth of the global digital health market include increased funding from public and private sectors for mHealth companies, a surge in the number of individuals afflicted with chronic illnesses, and technological advancements tailored for the medical sector. Furthermore, the aging population, which is more susceptible to chronic diseases, contributes significantly to the expansion of the digital medical sector.

Report Scope:

The comprehensive report details the market’s forecasted size of USD 1.1 trillion by 2032, with a robust CAGR of 22.2% from 2022 to 2032. It covers various segments including technology, application, delivery mode, components, and end-user across regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

Competitive Landscape:

Key players in the digital health market include:

• iHealth Lab Inc. (US)
• Qualcomm Technologies Inc. (US)
• Koninklijke Philips NV (The Netherlands)
• McKesson Corporation (US)
• Allscripts Healthcare LLC (US)
• BioTelemetry Inc. (US)
• Cerner Corporation (US)
• Cisco Systems Inc (US)
• General Electric Company (US
• AT&T Inc. (US)
• Athenahealth Inc. (US)
• EClinicalWorks (US)

Collaborations and innovative advancements in digital technologies are notable trends within the market, aimed at enhancing user experience and expanding market presence.

Browse In-depth Market Research Report (210 Pages) on Digital Health: https://www.marketresearchfuture.com/reports/digital-healthcare-market-7636

Digital Health Market Trends:

Market Drivers:

Factors driving market growth comprise increasing smartphone adoption, enhanced internet connectivity facilitated by 4G/5G rollout, advancements in healthcare IT infrastructure, the imperative need to control healthcare costs, rising prevalence of chronic diseases, and improved accessibility to virtual care. Key market players are focusing on providing cutting-edge applications to elevate user experience. Moreover, ongoing research and development initiatives are fostering the creation of innovative digital technologies with competitive pricing and novel features. Additionally, digital technology is instrumental in cost containment across the healthcare ecosystem, benefiting patients by making healthcare more affordable and accessible.

Market Restraints:

Concerns regarding compliance requirements are anticipated to restrain the growth of the digital health industry throughout the forecast period.

Market Segmentation:

The market is segmented by components (software, services, hardware), application (cardiology, diabetes, neurology, sleep apnea, oncology), technology (telehealthcare, digital health systems, mHealth, healthcare analytics), delivery mode (on-premises, cloud-based), and end-user (healthcare providers, healthcare payers, pharmaceutical companies).

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Regional Insights:

North America dominates the global digital health market owing to factors such as the rising prevalence of chronic diseases, presence of key market players, high smartphone adoption rates, and advancements in healthcare information technology. The Asia-Pacific region is poised for significant growth due to government investments in healthcare, escalating demand for telehealth services, and improvements in digital infrastructure.

The industry is expanding driven by factors including smartphone proliferation, network coverage enhancements, increasing chronic disease prevalence, aging population demographics, rising healthcare costs, shortage of primary caregivers, and demand for improved chronic disease management and prevention.

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