Digital Medicine Market Huge Demand in COVID-19: Regional Outlook, Trends, Key Companies Profile, CAGR and Forecast to 2027
Pune, Maharashtra, India, February 25 2021 (Wiredrelease) Allied Analytics –:Digital medicine technology is an innovative technological technique that has bridged the unsought gap between healthcare and digital technology. Due to evolution in health care, scientific medicine introduced the concept of digital medicine which aims in providing individualized medicine by knowing the biology of a patient through a wireless sensor technology and other mobile health technologies.
The global market size of Digital Medicine is $XX million in 2019 with XX CAGR, and it is expected to reach $XX million by the end of 2027 with a CAGR of XX% from 2020 to 2027.
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COVID-19 scenario-
1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
Digital medicine technology is more privileged than current medical practice since it is more precise, effective, well distributed, feasible and equitable applied technology. Recent success in digital medicine services implements the measurements of heart rhythm or rate, stress levels, blood pressure, oxygen concentrations and even management and prevention of chronic or acute conditions.
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The digital medicine market is currently in its nascent stage as ABILIFY-, byOtsuka Pharmaceutical Co., Ltd. And Proteus Digital Health was the first digital medicine to be approved by the U.S. Food and Drug Administration (USFDA) in 2015. The global digital medicine market is expected to register substantial growth in the near future, which is associated with high usage of smartphones, rising healthcare expenditures, expansion of software companies, high percentage of population with chronic diseases, and mobile phone proliferations.
The world digital medicine market is segmented based on technology, application and geography.
Based on technology, the market is segmented into mobile health, electronic medical records/electronic health records (EMR/EHR), telehealth and wireless health. Mobile health or mhealth is mostly used application and it is further bifurcated into applications for clinical or assistance in diagnosis, remote monitoring, reminders and alters, healthy living application, productivity applications and references applications. The market segmentations on the basis of application are diabetes, mental health, heart diseases, smoking, drug non-adherence, obesity, chronic obstructive pulmonary disease (COPD) and asthma. The market is analyzed across geographical regions namely North America, Europe, Asia-Pacific, and LAMEA.
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The Major Key Players Are:
2Morrow Inc., Ginger.io, Inc., Akili Interactive Labs., Livongo Health, AliveCor, Inc., WellDoc, Inc., Mocacare, Proteus Digital Health, Inc., Voluntis and Omada Health, Inc.
KEY BENEFITS FOR STAKEHOLDERS:
• This report provides an extensive analysis of the current and emerging market trends and dynamics in the global digital medicine market.
• This study evaluating competitive landscape and value chain has been taken into account to help in understanding the competitive environment across the geographies.
• Region-wise and country-wise global digital medicine market conditions are comprehensively analyzed in this report. High usage of smartphones, rising healthcare expenditures, expansion of software companies, high percentage of population with chronic diseases, and mobile phone proliferations are expected to drive the growth of the market.
• This report entails the detailed quantitative analysis of the current market and estimations through 2020-2027, which assists in identifying the prevailing market opportunities.
• An in-depth analysis of current research and clinical developments within digital medicine market is provided with key market dynamic factors that help in understanding the behaviour of the market.
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