Digital Health Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

  • TBI879575
  • November 29, 2020
  • Global
  • 132 pages
  • Lucintel

Abstract, Snapshot, Market Analysis & Market Definition: Digital Health Market

Industry / Sector Trends

Digital Health Market size was valued at USD 86.4 billion in 2018 and is expected to witness approximately 29.6% CAGR from 2019 to 2025. U.S. Digital Health Market Size, By Technology, 2018 & 2025, (USD Billion) Rapid technological advancements in healthcare IT such as cloud-based storage system and increasing adoption of smartphones and tablets by healthcare professionals to track and monitor patient health and history is major factor driving the market growth. Rising developments in healthcare IT along with favourable government regulations has largely encouraged the adoption of various healthcare IT solutions such as electronic medical records, e-prescribing systems, remote patient monitoring, and wearable medical devices. Such factors will boost global market growth. Rising venture capital funding including private equity and corporate venture capital in the health IT sector will escalate the market growth over the forecast timeframe. However, rising security concerns for patient data such as cyber security threats including uncoordinated individual attempts to gain unauthorized access to information technology (IT) systems is expected to hinder digital health market growth over the coming years. High capital cost requirement for installations of technologically advanced systems will further hamper digital health industry growth.

Market Segmentation, Outlook & Regional Insights: Digital Health Market

Digital Health Market, By Technology

Digital health systems technology business is estimated to reach USD 156.9 billion USD by 2025 due to increased adoption of advanced technology such as and Electronic Health Record (EHR) and Radiology Information System (RIS) in hospitals that reduces timeline for medical documentation and aids in investing efforts for diagnostic procedures. Supportive government initiatives along with rapidly improving IT infrastructure are some of the factors that positively impact industry growth. mHealth business segment is expected to grow at a robust 38.8% CAGR across the forecast timeframe. High growth is attributable to rising adoption of technological advancements including wearables and apps to monitor health of patients. Wearables such as pulse oximeters, blood glucose monitors, sleep apnea monitors have wide range applications including disease tracking, treatment and diagnosis, point of care diagnostic, remote data collection & remote monitoring. For instance, AliveCor Heart Monitor is a mobile-based electrocardiogram that enables individuals to gain clear insights on their cardiac health using these precise recordings.

Digital Health Market, By Region

Europe Digital Health Market Size, By Country, 2025 (USD Million) U.S. market accounted for largest share in 2018 owing to increasing prevalence of chronic diseases along with growing geriatric population in the country. Implementation of HITECH Act and HIPAA Act, promoting the use of electronic health data will foster market growth in the country. High technological adoption along with favourable government initiatives such as investment in electronic medical records (EMR) are other factors boosting business growth. Germany market is anticipated to witness rapid growth of 29.8% CAGR over the coming years. Rising demand for innovative technologies and systems for the effective management of chronic ailments such as diabetes, orthopaedics, cancer and others will fuel digital health business growth. Favourable government initiatives such as implementation of e-Health law that aims at creation of electronic health card and setting up infrastructure for telemedicine will propel business growth in the country. Japan digital health market is expected to reach USD 27.4 billion by 2025. Rapid adoption of telehealth and mobile health technology along with growing joint ventures for digital health solution in the country are factors further propelling business growth.

Key Players, Recent Developments & Sector Viewpoints: Digital Health Market

Some of the major market players operating in global digital health market are Allscripts Healthcare Solutions Inc., McKesson Corporation, eClinicalWorks LLC, Cisco Systems, Inc., Qualcomm, Philips Healthcare. Major firms are concentrating on collaborations, agreements and joint ventures for market expansion and to increase market reach. For instance, in January 2018, Allscripts Healthcare Solutions announced about its plan to acquire Practice Fusion. This strategy will assist the company to expand its presence and customer-base across U.S.

Digital Health Industry Viewpoint

Digitization in healthcare sector along with supportive government initiatives for improving healthcare infrastructure will boost digital health industry growth. Developed nations such as U.S., Germany, and Japan are mature markets in the digital health industry growing at rapid pace during the forecast timeframe. Well-established healthcare infrastructure along with high adoption of medical apps among patients and doctors to improve collaboration and monitor health status will augment digital health industry growth in the developed countries. On the other hand, the new digital health model will play a pivotal role in overcoming many of the challenges impeding healthcare delivery in the emerging countries such as India, China, Brazil, South Africa. The new model will improve healthcare access, affordability, quality and safety thereby boosting digital health industry growth

Key Insights Covered: Exhaustive Digital Health Market

1. Market size (sales, revenue and growth rate) of Digital Health industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Digital Health industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Digital Health industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Digital Health industry.

Research Methodology: Digital Health Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

1 Report Overview
    1.1 Research Scope
    1.2 Major Manufacturers Covered in This Report
    1.3 Market Segment by Type
        1.3.1 Global Digital Health Market Size Growth Rate by Type (2019-2025)
    1.4 Market Segment by Application
        1.4.1 Global Digital Health Market Share by Application (2019-2025)
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Production and Capacity Analysis
        2.1.1 Global Digital Health Production Value 2014-2025
        2.1.2 Global Digital Health Production 2014-2025
        2.1.3 Global Digital Health Capacity 2014-2025
        2.1.4 Global Digital Health Marketing Pricing and Trends
    2.2 Key Producers Growth Rate (CAGR) 2019-2025
        2.2.1 Global Digital Health Market Size CAGR of Key Regions
        2.2.2 Global Digital Health Market Share of Key Regions
2.3 Industry Trends
        2.3.1 Market Top Trends
        2.3.2 Market Drivers

3 Market Share by Manufacturers
    3.1 Capacity and Production by Manufacturers
        3.1.1 Global Digital Health Capacity by Manufacturers
        3.1.2 Global Digital Health Production by Manufacturers
    3.2 Revenue by Manufacturers
        3.2.1 Digital Health Revenue by Manufacturers (2014-2019)
        3.2.2 Digital Health Revenue Share by Manufacturers (2014-2019)
        3.2.3 Global Digital Health Concentration Ratio
    3.3 Digital Health Price by Manufacturers
    3.4 Key Manufacturers Digital Health Plants/Factories Distribution and Area Served
    3.5 Date of Key Manufacturers Enter into Digital Health Market
    3.6 Key Manufacturers Digital Health Product Offered
    3.7 Mergers & Acquisitions, Expansion Plans

4 Market Size by Type
    4.1 Production and Production Value for Each Type
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