• Product Code:
  • Published Date:
    17 Jul 2021
  • Region:
  • Pages:
  • Category:
    Healthcare & Pharmaceuticals
  • Publisher:

Impact Analysis on the Growth of Market

Activating Probable Propositions Amidst COVID-19 Crisis

With things going haywire, we analyze key points to make sure that the businesses around the globe are completely prepared to tackle potential implications caused by COVID-19. Be it protecting employees, customers or the overall business operations, we ensure that the employers take the right decisions, make strategic investments and maintain a healthy work culture along with taking probable measures to minimize the financial loss. Know More

The Research Report is Updated with 2020 Base Year, 2021 Estimated year and Forecast till 2030 with Market Insights.

With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2020 as base year, 2021 as estimated year and forecast to 2030. This will have market drivers, recovery rate in the market, insights and competitive analysis.

Market Overview:

PDigital Health Market: Introduction
Digital health is the combination of digital with healthcare, living, and society. With the use of information & communication technologies (ICT), the digital health can track the health indicator of an individual like blood pressure, heart rate, and calories. Digitization in healthcare organizations across the globe has transformed the way it was being operated. In the past few years, expenditure on digital healthcare solutions and services has increased at a rapid pace as these technologies allow the healthcare organizations to offer improved and efficient services to patients. In addition, advanced technologies have enabled patients to access health care services through their mobile devices like tablets, smartphones, notebook, and laptops.

Market Dynamics
The market is witnessing growth due to the growth of chronic disease and old-age population across the globe has fuelled the demand of enhanced remote patient monitoring solutions and services, which is projected to surge the growth of the market. Moreover, with the various initiatives taken by the government to promote digitization are anticipated to boost healthcare organizations to adopt enhanced solutions like connected electronic health records, healthcare information system, and clinical decision support systems, within the organizations to serve patients efficiently. This is further expected to foster the demand of the digital healthcare market.

By Component Type
Based on the component, the market is categorized into software, hardware, and services. The service segment is dominating the market compared to other digital health components and is expected to dominate during the forecast years also.

By Product Type
The product type has been classified as a wearable and healthcare information system (HIS). Among this, the HIS is holding the major market share due to the increase in the adoption of advanced products includes telehealth and EHR/EMR. Moreover, the HIS is categorized into clinical solutions and non-clinical solutions. Clinical decision support system (CDSS) further includes EHR/EMR, computerized physician order entry (CPOE), telehealth, mHealth, and population health management as the key segments.

Wearable devices segment is anticipated to grow with highest CAGR during the forecast period. The growth is attributed to the technical advancement in medical devices, increasing demand of healthcare apps in smartphones and growing inclination for wireless connectivity among healthcare providers. The wearable devices are primarily used for monitoring the heart rate and to calculate the calorie intake and even track sleep. For instance, Fitbit, Garmin, and others are fitness wristband and is directly being tied in with your phone. It primarily monitors your sleep cycle, measuring deep sleep and giving you pointers for improvement.

By End-use Industry
The end-user industry is categorized into B2B and B2C. The B2B segment is the key contributor to the digital health market and is expected to dominate during the forecast year also. The major components of the B2B segment include providers, employers, pharmaceuticals companies, and others, and B2C segments include caregivers and patients.

Regional Insights
Based on geography the market is categorized as North America, Latin America, APAC, Europe, Africa, and MEA. Among this North America is dominating the market due to improved healthcare infrastructure, and growth in health care spending For instance, the National health spending is at an average rate of 5.5 percent per year for 2017-26 and is anticipated to reach $5.7 trillion by 2026. In addition, various initiatives by the government to implement the digital health technologies, for instance, Ministry of Health & Family Welfare has undertaken E-hospitals, online registration system (ORS), and other such initiatives using Information & Communication Technologies (ICT) for improving the efficiency of the digital healthcare system. In addition, in 2009, U.S has adopted the Health Information Technology for Economic and Clinical Health (HITECH) for the rapid advancements in digital health, this further fuelled the market growth. With the growing mHealth apps, chronic care management apps, medical apps, healthcare and fitness apps, women health apps, and others, advanced application of medical sensors, and growth of the chronic diseases are further supporting the market growth. In addition, APAC is expected to grow with highest CAGR during the forecast period owing to the enormous growth potential for the digital health market in China, India, and Japan.

Competitive Landscape
The digital health market is highly fragmented due to the presence of diversified global and regional vendors. The key vendors in the market include IBM Corporation, Accenture PLC, AT&T Inc., CGI Group Inc., PricewaterhouseCoopers LLP (PwC), GE Healthcare Limited, Syntel Inc., Deloitte Consulting, and others. To stay in the competitive market, the key players are constantly focusing on improving their technological capabilities through strategic planning, collaboration, or merger with the established players. For instance, in 2017, RightPatient has entered into a partnership, with Caradigm to introduce unique healthcare solutions for cloud-based biometric patient identification and single sign-on. With this partnership, it is expected to deliver solutions to safeguard patient identity & data and also to improve operational & clinical efficiency.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook


Please enter your personal details below
I want to buy this report
I am willing to know the scope of research
I have customized query over this report
Please enter your personal details below
I want to buy this report
I am willing to know the scope of research
I have customized query over this report

Related Reports