With a market size valued at $441 billion by 2026, this is a healthy prospect for the global digital health market

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Editing: ten; Published: February 2022
Executive Pool: 4403
Companies: 679 – Players covered include AdvancedMD Inc; AirStrip Technologies LP; Alcatel-Lucent SA; Allscripts Healthcare Solutions Inc; Apple Inc; Aruba Networks, Inc.; AT&T Communications, LLC; Athenahealth Inc; Biotelemetry Inc; Capsule Technologies, Inc.; Cerner Company; Cisco Systems, Inc; eClinicalWorks; Honeywell International Inc; iHealth Lab Inc; Koninklijke Philips NV; McKesson Corporation; QUALCOMM TECHNOLOGIES, INC; Siemens Healthineers AG and others.
Blanket: All major geographies and key segments
segments: Technology (mHealth, Digital Health Systems, Healthcare Analytics, Tele-Healthcare); Component (Services, Hardware, Software)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Rest of the world.

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ABSTRACT-

Global digital health market to reach 441 billion US dollars by 2026
The impact of digital technology on the healthcare industry has been profound, testifying to its applicability, ranging from remote monitoring of patients, medical equipment, in vitro examinations, imaging devices to pharmaceuticals. Digital health is set to experience notable growth and an abundance of lucrative opportunities as the field remains relatively underinvested. Even though major digital health solutions such as telemedicine have been around for many years, the adoption of these technologies has been very low due to lack of awareness and resistance from stakeholders such as patients as well as healthcare providers. Health care. The wave of digital innovation around healthcare is supported by an aging population and the proliferation of new diseases and chronic conditions. The digital health market is also driven by the transformation of patient data stored in the form of electronic forms, saving time and space. Healthcare providers have experimented with different business models over the past decade. The emergence of personalized medicine and value-based healthcare (VBC) is among the most promising trends in healthcare. Both forms of healthcare delivery require advanced data aggregation and analysis, driving healthcare providers to embrace digital healthcare technologies. Next-generation innovations and technologies continue to maintain their defining impacts not only on medical therapies, but also on the healthcare industry as a whole. In recent years, driven by the impact of wearable health devices, connected gadgets and mobility, along with several other technologies, the global healthcare industry is undergoing revolutionary changes. .

Amid COVID-19 crisis, Global Digital Health Market Estimated at US$216.4 billion in 2022, is expected to reach a revised size of 441 billion US dollars by 2026, growing at a CAGR of 18.5% over the analysis period. mHealth, one of the segments analyzed in the report, is expected to grow at a CAGR of 19.3% to reach 246 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the digital health systems segment is readjusted to a revised CAGR of 14.4% for the next 7-year period. This segment currently accounts for a 30.8% share of the global digital health market. Mobile healthcare is the most important trend in the global digital healthcare market. In several regions of the world, where the penetration of mHealth care applications in the entire health care systems is complete, these applications make a significant contribution to the prevention, treatment and management of several chronic diseases.

The US market is estimated at $89.9 billion in 2022, when China is expected to reach $45.5 billion by 2026
The digital health market in the United States is estimated at US$89.9 billion in 2022. The country currently accounts for a 41.3% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$45.5 billion in 2026 with a CAGR of 22.5% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 14.8% and 17% respectively over the analysis period. In Europe, Germany is expected to grow around 16% CAGR while the rest of the European market (as defined in the study) will reach US$20.8 billion at the end of the analysis period.

The United States is expected to dominate the digital health market, driven by high healthcare spending, government initiatives including funding for EMRs, high-tech adoption, and IT adoption. health care information. Additionally, the use of telemedicine and mobile health applications is increasing across the country. Other factors driving the growth of the market include implementation of HITECH and HIPAA laws, encouragement in the use of electronic health data, rising incidence of chronic diseases, and growth in the elderly population. Europe is another major market for digital health, driven by increasing pressure to reduce rising healthcare costs, improved healthcare solutions and innovative technologies. the Asia Pacific expected to be the fastest growing region due to increased use of mHealth. Other factors driving the market in the region include continuous improvement in healthcare infrastructure, growing number of IT companies, increased usage of wearable devices and smartphones, countries such as India and China transformation into medical tourism hubs, government digital health awareness initiatives, growing incidence of chronic diseases, increasing aging population and increasing medical errors.

Health care analysis segment to reach $88 billion by 2026
After playing an active role in the COVID-19 response, healthcare analytics is expected to deliver actionable performance throughout the recovery phase, enabling organizations to improve patient outcomes and reduce costs. costs. Healthcare analytics has enabled hospitals to quickly gain insights into COVID-19 trends, practices, and patterns to ensure smooth operation under pressure. Healthcare analysis should also be influenced by the impact of the pandemic on population health strategy. It is unlikely that many organizations will devote additional resources to integrating population health strategy into decision-making. In the global healthcare analytics segment, United States, Canada, Japan, China and Europe will drive the CAGR of 22.8% estimated for this segment. These regional markets representing a combined market size of US$19.7 billion will reach a projected size of US$83.6 billion at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$7.5 billion by 2026.
Continued

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