COVID-19 Impact on Digital Health Market Size, Future Trends, Share Analysis, Key Profile and Industry Insights By 2025 1
Digital Health Market
Digital Healthcare Market Size, Growth and Share Analysis By Technology (Digital Health Systems, Telehealthcare, mHealth, and Healthcare Analytics), by Application (Cardiology, Diabetes, Neurology, Sleep Apnea, Oncology, and others), By Delivery Mode (On-Premise and Cloud-Based), by Components (Software, Services, and Hardware), By End User, Forecast till 2025

Digital Health Market Highlight

Market Research Future finds in its latest study on the global Digital Health Market size that the COVID-19 pandemic could hasten the adoption of many digital health technologies. The pandemic facilitates digital healthcare by improving stakeholder awareness, credibility, and driving favorable factors for market growth. The analysts accumulated facts that the global market of digital healthcare would considerably rise at a rate of 26.30% and would expect to gain revenue of USD 3, 28,887.8 million by 2025. The entire growth period is calculated to be from 2016 to 2025—the forecasted period.

The impact of digital technology in the healthcare industry has become a game-changer technology in with rising dependency of end-user on digital health platforms. These platforms are being progressively implemented to perform remote monitoring for chronic disease and access electronic medical and personal health records through broadband and mobile. Mounting demand for m-health (mobile health) with innovative mobile applications and solutions is to catalyze the growth of the digital health market globally.

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MRFR finds out more about the growth of the market. It stated that virtual visits are almost sure to benefit, but other digital health categories may also see a considerable boost, including digital symptom checkers, digital disease management, and digital pharmacies. As the world grapples with the dreadful COVID-19 pandemic, it is persuasive to imagine a post-COVID future that includes some positive aspects of rising healthcare initiatives using technology. As terrible the situation is today, the calamity might lead to positive changes in the healthcare market with the digital aspect and would bring massive opportunities in the forecast period.

With this, COVID-19 also brings short-term and long-term changes in the digital healthcare landscape. Short-term opportunities owe the responses that aim to cater to the current crisis but will revert to a pre-crisis state once the pandemic is contained. Long-term opportunities arise from strong, long overdue, and transformational drivers. Thus, COVID is just a precipitating factor that will bring about a long-term and permanent shift in the healthcare domain with digital technology. These factors have positively influenced the market’s expansion rate, thus promises for an absolute future as well.

Simultaneously, a growing number of Smartphone users worldwide will be a prime factor in driving market growth further. Rapidly growing healthcare IT infrastructure in developed and developing countries will be favorable to market growth in the future. Furthermore, an upward awareness of the importance of fitness and health among the population will significantly increase product adoption, thus will encourage more and more global Digital Health Market growth.

Digital Health Market Segment Review

The global Digital Health Market is studied among technology, application, delivery mode, components, and end-user.

The digital health market by the segment of technology has included telehealthcare, digital health systems, m-health, and healthcare analytics. The digital health systems are further segmented into EHR/EMR and e-prescribing systems. Telehealthcare is also segmented into remote medication management, activity monitoring, video consultation, and LTC monitoring. mHealth is segmented into wearables and mHealth apps. The wearables segment includes neurological monitors, glucose meters, pulse oximeters, sleep apnea monitors, BP monitors, and more. In the last, m-Health apps have included fitness apps and medical apps.

The digital health market by the application segment has included diabetes, cardiology, sleep apnea, neurology, oncology, and others.

The digital health market by the segment of delivery mode has been included on-premise and cloud-based.

The digital health market by the segment of components has included services, software, and hardware.

The digital health market segment of end-user has included healthcare payers, healthcare providers, pharmaceutical companies, and others.

Digital Health Market Regional Framework

Geographically, The Germany Digital Health Market share was valued beyond USD 11 billion in 2019 and is now estimated to have substantial growth during the analysis timeframe. The country took on a new approach to combat the COVID-19 pandemic and adopted digital health expansively to control the spread. Furthermore, the elevated rate of technology adoption in the country, coupled with the relaxation of regulations in the pandemic, will drive the local market growth in 2020.

In the case of point, in April 2020, Philips launched a national portal for the digital exchange of COVID-19 patient data in the Netherlands. The launch surged the customer base and revenue generation in the market of digital healthcare.

In the same way, the Americas might govern the global Digital Health Market. The growth in the region is credited to escalating healthcare expenditure and the rapid adoption of healthcare information technology (IT). Centers for Medicare and Medicaid Services, back in 2017, claimed that the healthcare sector in the US has grown by approximately 3.9%, which will be reaching USD 10,739 per person in the forecast period.

Asia-Pacific region is also considered as the fastest-growing digital health market owing to the emerging healthcare infrastructure and rising number of healthcare IT companies. Moreover, a significant rise in research & development centers and top companies in developing countries have boosted the market’s augmentation.

Digital Health Market Vendors Landscape

The well-known vendors in the global Digital Health Market are LLC (US), BioTelemetry, Inc. (US), Cerner Corporation (US), Cisco Systems, Inc (US), McKesson Corporation (US), AT&T Inc.(US), Athenahealth Inc. (US), iHealth Lab Inc. (US) and more.

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