Digital Health Market is Anticipated to Grow at a Rate of 16.9% during the Forecast Period

Digital Health
  • Digital Health Market

TheDigital Health Marketis anticipated to grow fromUSD 145.57 Billion to USD 430.52 Billion at aCompound Annual Growth Rate (CAGR)of16.9%within the forecast period of 2022 to 2028.Digital Healthforums have many promises about improving efforts to accurately diagnose and manage illness, as well as improving the delivery of consumer healthcare. Digital innovation gives physicians a complete view of a patient's health by accessing data while allowing patients more control over their health.

Digital Healthis a large and growing platform based on the simple motive of using technology to help people improve their health and well-being. The wearable sensor devices, mobile health apps, and the automatic caregiver for electronic records are all examples ofDigital Health.Digital Healthservices can also help diagnose new diseases or break down existing ones.Digital Healthhas not only improved the quality of human life, but it can also reduce the average cost of healthcare during one's lifetime, saving money for both providers and patients. There has been a huge increase in the use of smartphones by US doctors leading to an increase in the practice ofDigital Health. The influx of smartphones, tablets, and other mobile phones is one-third of all U.S. adults, with doctors taking twice as much as the average population. This has led to significant growth in mobile applications for healthcare needs, thus accelerating the industry's growth. In addition, the rapid development of IT infrastructure, favorable government efforts, increased demand for remote patient care services, and growing capitalist investments will have a positive impact on industry revenue.

On the basis of technology, the globalDigital Health Marketis divided into wearable technology, mobile health technology, telehealth technology, among others. Mobile health technology holds the largest market share and is expected to grow during the forecast period. Mobile health is defined as a separate department of eHealth, which provides data collection of the affected person. This person-related data is collected through digital wireless devices that include mobile phones, and various mobile health devices. Based on end-users, the globalDigital Health Marketis divided into healthcare providers, payers, health buyers, and others. Healthcare providers account for the largest market share and are expected to grow over time.

Digital Health Markethas been studied in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. is rated to have the highest CAGR asDigital Health isa market that opens up many opportunities during forecasting.North Americawill hold the largest market share in the forecast period. This is due to a variety of driving factors including increased demand for health services in theDigital Health Market, increased internet adoption and compatible devices across the region, increased demand from the rural healthcare industry as health services provide remote patient monitoring (RPM), transfer and transfer of medical information, cellular health communications, and more.

The major players included inDigital Health Market areAllscripts Healthcare Solutions Inc. (US), Cisco Systems (US), Koninklijke Philips N.V. (Netherlands), McKesson Corporation (US), and Cerner Corporation (US).