NEW YORK, June 21, 2022 /PRNewswire/ -- The digital health market share is expected to increase by USD 207.34 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 20.16%.
Learn more about factors influencing the market as you Read sample copy
The digital health market is categorized by Technavio as a part of the global healthcare technology market. The digital health market research report provides valuable insights on the post-pandemic impact on the market, which will help companies evaluate their business approaches.
Product Insights and News
The digital health market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. For instance, Alphabet Inc., a leading vendor, offers a platform for developing healthcare interoperability resources, and an application programming interface-based digital services.
View Market Report outlook to know more about vendors in the market
Vendor Insights
The report identifies the following as the dominant vendors in the market:
· Siemens Healthineers AG
Digital Health Market: Key Drivers
The increase in the number of M&A activities is driving the digital health market. Strategic M&A activities of the vendors support the development of efficient products and increase the profit margin of the service providers. Investments are carried out in the form of either capital outflow to develop new service offerings or the acquisitions of other service providers. For instance, in April 2019, the company, which is a women s health group, completed the acquisition of Pacify, a telehealth company that mainly focuses on virtual perinatal care for new and expectant moms and parents. Through such business strategies, both companies aim to offer obstetrics and gynecology services and provide relationship-driven and technologically advanced products.
Digital Health Market: Key Challenges
The threat of open-source service providers is expected to be a major hindrance to the digital health market during the forecast period. There are numerous open-source vendors that provide a wide range of digital health solutions in the digital health market. A combination of multiple products from several open-source vendors can offer all the functionalities provided by proprietary on-premises and cloud-based digital health solution providers. Open-source software offers features such as better credibility, unconstrained innovations, and decentralized control. This has a negative impact on the market share of the proprietary players in the digital health market. NHS England is a non-departmental public body of the Department of Health in the UK that uses open-source IT solutions in healthcare to make healthcare services accessible to all. Healthcare professionals can bridge the gap between the staff and the technology by including more input on software improvements and uses.
Digital Health Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.16% |
Market growth 2020-2024 |
$ 207.34 billion |
Market structure |
Concentrated |
YoY growth (%) |
18.98 |
Regional analysis |
North America, Europe, APAC, and South America |
Performing market contribution |
North America at 46% |
Key consumer countries |
US, UK, China, Japan, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Alphabet Inc., Apple Inc., Cisco Systems Inc., General Electric Co., International Business Machines Corp., Koninklijke Philips N V, McKesson Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., and Siemens Healthineers AG |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Get your report sample copy to unlock scope and parent market analysis insights
North America's Contribution to Digital Health Market
The awareness of technological advances and better infrastructure in the healthcare industry is expected to propel the digital health market growth in North America over the forecast period. The region is expected to contribute 46% of market growth as countries such as the US are the key markets for digital health. Market growth in North America is expected to be higher than the growth of the market in other regions.
Download your sample copy and know more about the market contribution in North America
Market Segmentation
The digital health market is divided by application into the wireless health segment, mobile health segment, telehealth segment, and EHR segment. The wireless health segment is expected to be the major contributor to the market during the forecast period. Wireless health involves the usage of wireless technologies in traditional medical activities such as the diagnosis and treatment of illnesses. Wireless radio-frequency identification (RFID) technology is another popular wireless technology used in the healthcare industry, thereby driving the demand for this segment and also contributing to the digital health market growth during the forecast period.
Key Highlights
Related Reports:
Blood Glucose Monitoring System Market by Product and Geography - Forecast and Analysis 2022-2026 Download your sample
Medical Decision Support Systems Market by Product Type and Geography - Forecast and Analysis 2022-2026 Download your sample
Table of Contents
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by Application
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library and its client base consist of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email:[email protected]
Website: www.technavio.com/
SOURCE Technavio
Share this article