Digital Health Market Poised for $767,718.9 Million by 2030, Registering 17.9% CAGR – Allied Market Research
According to a new report published by Allied Market Research, titled, “Digital Health Market by Product & Service, Component, and End User: Global Opportunity Analysis and Industry Forecast, 2021–2030.”
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Digital health is defined as the interaction between healthcare system and technology. It applies a digital health transformation in the healthcare field by incorporating software, hardware, and services. It provides various opportunities to accelerate the process to attain health and well-being related to sustainable development goal.
Healthcare information technology aims to prevent disease, provide early diagnosis of life threatening disease, help in the management of chronic disease, and enhance the quality of life by remote monitoring of patients. It offers real opportunities to improve medical outcomes and enhance efficiency.
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Hypertension patients require monitoring of their blood pressure at regular intervals to alleviate the chances of stroke and heart attack. Market players are focusing on the development of novel approaches for use of digital health technology. Moreover, in 2020, Sensyne Health, the clinical AI technology company, launched GDm-Health, in the U.S. to provide remote monitoring solution for diabetic patients in pregnancy.
Increase in prevalence of cardiovascular disease, rise in demand for software in the healthcare sector, and surge in number internet users are anticipated to drive the growth of the digital health market. In addition, increasing demand for remote monitoring services has led to the development of innovative technologies in the healthcare sector, thereby propelling the growth of the market.
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The digital health market is segmented on the basis of product & service, component, end user, and region. On the basis of product & service, the market is divided into mHealth and eHealth. The eHealth segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in prevalence of chronic diseases, surge in demand for telehealth & telemedicine, and increase in number of internet users.
Key Findings Of The Study
- By product & service, the eHealth segment was the highest contributor to the market in 2020.
- By component, the software segment was the highest contributor to the digital health market in 2020.
- By end user, the healthcare providers segment dominated the market in 2020 and is expected to continue this trend during the forecast period.
- By region, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
Key Market Players
- Allscripts Healthcare Solution, Inc.
- Cerner Corporation
- Cisco systems
- eCLINICALWORKS
- General Electric company
- Koninklijke Philips N.V
- Honeywell International Inc.
- Mckesson Corporation
- Siemans Healthcare AG
- Qualcomm technologies, Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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