Digital Health Market is Likely to Exhibit Significant CAGR; Rising Popularity of Real-time Solutions will Promote Growth says Fortune Business…

June 03, 2020 09:21 ET | Source: Fortune Business Insights

Pune, June 03, 2020 (GLOBE NEWSWIRE) -- The global digital health market size is projected to witness notable growth in the coming years on account of the rising patient pool and advancement in medical infrastructure and facilities worldwide. Digital health is the combination of healthcare procedures with information systems for an enhanced recovery experience for the patient. Digital health utilizes advanced technology and connectivity, and converging information such as patient history, among others to ensure a quality treatment service to its customers. A recent report by Fortune Business Insights titled, Digital Health Market Size, Share and Global Trend By Technology (Mobile Health Technology, Health Information Technology, Wearables Technology, Telehealth Technology), By Deployment Mode (Software, Service, Hardware), By Modality (Wired, Wireless) By End User (Clinics, Hospitals, Ambulatory Surgery Centres, Home Care Settings), and Regional Forecast till 2026, offers a comprehensive overview of the market.

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The Report Emphasizes on the following factors:

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Drivers & Restraints-

Advent of Minimally Invasive Technologies to Aid in Expansion of Market

The rise in the geriatric population and their vulnerability to various acute and chronic diseases is boosting the digital health market growth. The rise in need for better healthcare facilities is also boosting the market. Rising inclination towards technological advancement in the healthcare sector and the use of devices such as real-time solutions by mobile applications, remote patient monitoring, time-tracking health conditions, among others is also adding impetus to the market.

On the contrary, lack of awareness and dearth of medical professionals dealing with the latest technology such as real-time monitoring, and others may cause major hindrance to the market in the coming years. Nevertheless, the advent of Artificial Intelligence into the healthcare sector has eased complex minimally invasive surgeries and others, thereby creating lucrative growth opportunities for the future market.

Segment-

Wearable Technology Segment Emerged Dominant owing to its Rapid Adoption Rate

With respect to segmentation by technology, the wearable technology segment is holding the dominant share on account of the increasing adoption of wearable devices owing to high patient preference and features that offer information by one-touch technology.

Regional Analysis-

North America will Dominant Market on Account of Presence of Key Players

Geographically, North America earned the largest digital health market share on account of the increasing inclination towards self-care and the rising adoption of the latest medical technologies. This, coupled w2ith the presence of major players in the United States and Canada and government-supported reimbursement policies will help this region continue dominating the market in the coming years. The Asia Pacific market is likely to witness significant growth in the coming years on account of increasing the geriatric population, need for better treatment facilities, improving healthcare infrastructure, and adoption of the latest technology in terms of digital health assistance.

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Competitive Landscape-

Key Players Focusing on Upgrading Technologies to Gain Competitive Edge

The nature of this market is fragmented on account of the presence of many players. Some of them are engaged in combined efforts such as mergers and acquisitions, joint ventures, contracts and agreements, and others to gain a competitive edge in the market. Other vendors are investing time and money on research &development, clinical trials, and up-gradation of technologies such as wearable devices and others for gaining a stronger foothold in the future market.

Major Industry Developments of the Digital Health Market include:

March 2019 A data analysis company namely TriNetX, working on clinical trials raised about USD 40 million to expand the operations of this company across the Asia Pacific.

October 2018 Indie Health and Hifinite announced the signing of a collaborative agreement for the launch of a telehealth monitoring platform called Hicare 3.0 at the Connected Healthcare Conference.

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Fortune Business Insights lists out the names of players operating in Digital Health Market. They are as follows:

Have a Look at Related Reports:

Telehealth Market Size, Share and Global Trend By Type (Products, Services), By Application (Telemedicine, Patient Monitoring, Continuous Medical Education, Others), By Modality (Store-and-forward (Asynchronous), Real-time (Synchronous), Remote Patient Monitoring), By End User (Healthcare Facilities, Homecare, Others), and Geography Forecast till 2026

Telemedicine Market Size, Share and Global Trend By Type (Products, Services), By Application (Teleradiology, Telepathology, Teledermatology, Telepsychiatry, Telecardiology, Others), By Modality (Store-and-forward (Asynchronous) , Real-time (Synchronous), Others) and Geography Forecast till 2026

Electronic Health Records (EHR) Market Size, Share & Industry Analysis, By Product (Web-based, On-premise), By Type (Stand Alone, Integrated) By End User (Physicians Office, Hospitals, Others) and Regional Forecast, 2019-2026

Healthcare Analytics Market Size, Share & Industry Analysis, By Product (Descriptive, Predic-tive, and Prescriptive), By Application (Financial Analytics, Population Health Analytics, Clinical Analytics, and Operations and Administrative Analytics), By End User (Payers, Providers, and Others) and Regional Forecast, 2019-2026

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Digital Health Market is Likely to Exhibit Significant CAGR; Rising Popularity of Real-time Solutions will Promote Growth says Fortune Business...