(PharmaNewsWire.Com, February 21, 2018 ) Digital Health Market size is estimated to exceed USD 379 billion by 2024. Increasing demand for remote patient monitoring services, strong investment outlook and favorable government initiatives should drive global digital health market size. Emergence of healthcare IT coupled with growing penetration of smartphones, tablets and other mobile platforms have led to increased adoption of new business models. Digital technology has enabled people to make smarter choices and receive products with value added services.
mHealth industry could witness remarkable growth in excess of 35%, to surpass USD 200 billion by 2024. Increasing use of smartphones, improved distribution of diagnostic health services and growing trend towards use of cost effective services will stimulate segment growth. Germany digital healthcare market size was over USD 5.4 billion in 2015 and anticipated to exceed 40 billion by 2024. It will drive regional industry growth owing to increasing use of mobile communications technology, rapid technological developments and favorable E-Health regulations in this region.
Increasing number of start-ups to capitalize on industry revenue and growing number of venture capitalist’s investments will spur the global digital healthcare market share. Digital health entrepreneurs are striving to prove credibility and trustworthiness of their services and gain maximum industry share. Some of the recent start-ups include Validic, mySugr, Augmedix, CareDox, and Livongo Health. Furthermore, venture capitalist funding along with mergers and acquisitions attributed to over 4.7 billion with 670 deals in 2014 followed by over USD 4.6 billion with 574 deals the next year.
EHR (Electronic health records) attributed to over 60% of global digital health market share in 2015, with expectations to reach over USD 116 billion by 2024. Some of the factors that should drive business growth are rising investments in interoperability, technological advancements and supportive government decisions favoring expansion of digital health market size.
Key insights from the report include: Global digital health market size will reach USD 379.3 billion by 2024, with over 25% growth from 2016 to 2024.
Digital health systems market share was over USD 32 billion in 2015 with more than USD 130 billion by 2024. Growing investments in interoperability and increasing awareness regarding usage of EHR platforms will drive business growth.
Health analytics market size was over USD 4 billion in 2015 and should witness 25.9% growth over the forecast timeframe. It helps reduce instances of misdiagnosis and curb healthcare costs by providing reliable and cost- effective healthcare information to care providers.
Japan digital health market size will grow at over 29% to exceed USD 20 billion by 2024, owing to extensive adoption of new healthcare technologies and improved government focus to reduce healthcare cost.
Presence of large corporations, local industry players as well as start-ups are increasing the overall digital health market competitiveness. The key industry players will hold maximum revenue share owing to their brand recognition and prompt after sales service. The major players include Qualcomm, Philips Healthcare, McKesson Corporation, AT &T and LifeWatch.
Digital health market research report includes in-depth coverage of the industry with estimates &forecast in terms of revenue in USD billion from 2012 to 2024, for the following segments:
Global Digital Health Market, By Technology: Telehealthcare, Telecare, Activity Monitoring, Remote Medication Management, Telehealth, LTC Monitoring, Video Consultation, mHealth, Wearables, BP Monitor, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors, Others.
Apps: Medical Apps, Fitness Apps, Health Analytics, Digital Health Systems, Electronic Health Records (EHR), e-prescribing Systems
The above information is provided on a regional and country basis for the following: North America, U.S., Canada, Europe, Germany, UK, France, Italy, Spain, Russia, Poland
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