Digital Health Market to exceed US$ 746 Billion by 2027 Globally | CAGR: 26.3% | UnivDatos Market Insights
NOIDA, India, July 7, 2021 /PRNewswire/ — A comprehensive overview of the Digital Health Market is recently added by UnivDatos Market Insights to its humongous database. The Digital Health Market report has been aggregated by collecting informative data from various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Digital Health Market. The Digital Health Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Digital Health Market at the global and regional levels. Digital Health Market is expected to grow at a CAGR of 26.3% from 2021-2028 to exceed US$ 746 billion by 2027.
Market Overview
Growing number of smartphone users across the globe, rapidly growing healthcare IT infrastructure, growing awareness about the importance of health and fitness among the population, increasing use of health and medical apps to maintain fitness are some of the major factors driving the market growth. Moreover, growing geriatric population, rising healthcare expenditure, and increasing prevalence of diseases including Chronic Obstructive Pulmonary Disease (COPD), diabetes, and cancer also propels the market growth. As per International Diabates Federation (IDF) 2019, approximately 463 million adults (20-79 years) were living with diabetes; by 2045 this will rise to 700 million. With more digital health applications being developed, data privacy concerns will remain on top of mind, this would hamper the growth of the market.
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COVID-19 Impact
During the COVID-19 pandemic, every healthcare sector has been affected and a significant effect can be seen on the Digital Health market as well. During the COVID-19 pandemic, healthcare professionals have started using digital health services for online consultation and drug prescription. Moreover, the several initiatives taken by the government bodies to initiate digital health services in their country also propel market growth. A United Nations study found that 86% of member states had placed COVID-19 information on national websites by early April 2020.
Global Digital Health Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By Technology, the market is primarily bifurcated into:
- Mobile Health Technology
- Health Information Technology
- Wearables Technology
- Telehealth Technology
- Others
The Mobile Health Technology sub-segment dominated the global Digital Health Market and is expected to grow at a noteworthy CAGR by the year 2027.
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By Deployment Mode, the market is primarily segmented into:
- Software
- Service
- Hardware
Amongst Deployment Mode, Software accounted for the largest share in 2020 and is expected to grow at a significant CAGR during the forecast period 2021-2027.
By Modality, the market is primarily segmented into:
- Wired
- Wireless
Amongst Modality, Wireless accounted for the largest share in 2020 and are expected to grow at a significant CAGR during the forecast period 2021-2027.
By End-user, the market is primarily segmented into:
- Clinics
- Hospitals
- Ambulatory Surgery Centers
- Home Care Settings
- Others
Amongst end-user, Hospitals accounted for the largest share in 2020 and are expected to grow at a significant CAGR during the forecast period 2021-2027.
Digital Health Market Geographical Segmentation Includes:
- North America (United States, Canada, Rest of North America)
- Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
- Rest of the World
North America is dominating the Digital Health Market in 2020 and is anticipated to maintain its dominance during the forecast period.
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The major players targeting the market includes:
- Medtronic
- Allscripts Healthcare Solutions Inc.
- BioTelemetry Inc.
- eClinicalWorks
- iHealth Lab Inc
- McKesson Corporation
- Koninklijke Philips N.V
- AT & T
- Cisco Systems
- Athenahealth Inc
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Digital Health Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the Digital Health Market?
- Which factors are influencing the Digital Health Market over the forecast period?
- What are the global challenges, threats, and risks in the Digital Health Market?
- Which factors are propelling and restraining the Digital Health Market?
- What are the demanding global regions of the Digital Health Market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.
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About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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