Dublin, March 05, 2021 (GLOBE NEWSWIRE) — The “Digital Health Market Size, Share & Trends Analysis Report by Technology (Healthcare Analytics, mHealth), by Component (Software, Services), by Region, and Segment Forecasts, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
The global digital health market size is expected to reach USD 295.4 billion by 2028 and is projected to expand at a CAGR of 15.1% over the forecast period.
Rising smartphone penetration & integration of advanced technologies, such as the internet of things (IoT) & artificial intelligence (AI), and increasing implementation of mHealth technologies for self-management of chronic diseases, such as diabetes, are some of the major factors driving the market. In addition, increasing demand for enhancing workflow efficiency in clinics, hospitals, and other healthcare centers is further boosting the demand for mHealth services thereby, aiding the market growth.
Moreover, ongoing technological advancements for developing advanced digital solutions coupled with a growing number of favorable initiatives by the government & private sectors are contributing to the overall market growth. For instance, as per the data published in 2017, researchers at the University of Illinois have developed a camera to improve the diagnostic features of smartphones.
In 2020, the mHealth technology type segment accounted for the highest revenue share. A rise in the number of health apps has significantly contributed to the segment growth in recent years. As per the data published by the My Health Apps blog in May 2018, a total of 325,000 health, fitness, and medical apps were available in 2017.
Mobile operators are constantly leveraging mHealth technologies and solutions by supporting services, such as diagnosis, monitoring, and patient management. In addition, they are increasingly adopting strategies in the form of partnerships and agreements to enhance their product offerings, which, in turn, is contributing to the segment growth.
For instance, in 2019, OneLife, a mobile medical software company, partnered with AT&T for the development of a health-tracking watch to monitor a patient’s heart rate, location, sleep, and movements. In 2020, the services component segment accounted for the highest revenue share.
System integration, training & education, maintenance & support, and consulting are among the few service offerings that are covered in this segment. Growing demand for continuous M2P data flows, to boost the efficiency of the medical systems, improve informed decision-making in real-time, and enhance security, is driving the segment growth.
On the other hand, software is anticipated to register the fastest growth during the forecast period. The key factors that can be attributed to this growth are rising investments by the market participants to develop innovative connected solutions for the healthcare industry, technological advancements, and the rising adoption of digital technologies & connected systems in the health centers.
Digital Health Market Report Highlights
- The mHealth technology segment dominated the global market in 2020 owing to the increasing penetration of smartphones and the rising number of strategic alliances among mobile operators & mHealth startups..
- The services component segment accounted for the highest revenue share of the global market in 2020.
- North America was the leading regional market in 2020 owing to rise in the geriatric population and awareness regarding health & fitness among consumers.
- High internet and smartphones penetration along with growing usage of medical/health-related apps is one of the key factors responsible for the market growth in North America.
- However, APAC is expected to register the fastest CAGR from 2021 to 2028 due to the rising usage of tablets, smartphones, and other mobile platforms.
- The rising geriatric population in countries, such as India and China, and the growing burden of chronic conditions are further boosting the demand for mHealth technologies in the region.
Key Topics Covered:
Chapter 1 Methodology and Scope
1.1 Market Segmentation and Scope
1.2 Market Definition
1.2.3 mHealth wearables
1.2.4 mHealth apps
1.2.5 mHealth services
1.2.6 Healthcare analytics
1.2.7 Digital health systems
1.3 Research Methodology
1.4 Research Scope and Assumptions
1.5 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Technology Outlook
2.3 Component Outlook
2.4 Regional Outlook
2.5 Competitive Outlook
2.6 Digital Health Market Snapshot
Chapter 3 Digital Health Market Variables, Trends & Scope
3.1 Penetration and Growth Prospect Mapping
3.2 Market Dynamics
3.2.1 Market Driver Analysis
184.108.40.206 Increasing adoption of digital healthcare
220.127.116.11 Rise in artificial intelligence, IoT, and big data
18.104.22.168 Growing adoption of mobile health applications
22.214.171.124 Supportive initiatives and increasing strategic alliances
126.96.36.199 High penetration of smartphones
3.2.2 Market Restraint Analysis
188.8.131.52 Cybersecurity and privacy concerns
3.2.3 Market Challenges
184.108.40.206 Digital health technology unable to deliver the promised results
3.3 Digital Health Market Analysis Tools
3.3.1 Industry Analysis-Porter’s
3.3.2 PEST Analysis
3.4 Regulatory Landscape
3.5 Technology Landscape
3.5.1 Pipeline analysis (Upcoming technologies)
3.4 Impact of the Covid-19 on Digital Health Market
Chapter 4 Digital Health Market: Competitive Landscape Analysis
4.1 Recent Developments & Impact Analysis, by Key Market Participants
4.1.1 ALLSCRIPTS ACQUIRED HealthGrid
4.1.2 ALLSCRIPTS ACQUIRED practice fusion
4.1.3 Allscripts divesture
4.1.4 roche acquired flatiron health
4.1.5 Medtronic acquired nutrino
4.1.6 Mckesson ventures invest into Propeller Health
4.1.7 CureMD achieved healthcare network accrediation
4.1.8 Google acquired Senosis
4.1.9 IBM Watson health investments in research
4.1.10 NextGen Healthcare acquired eagledream health, Inc.
4.1.11 Dexcom acquired TypeZero Technologies
4.1.12 Apple, inc. acquired gliimpse
4.1.13 NEXtGen healthcare investments in software development
4.1.14 NExtgen healthcare acquired healthfusion holdings, Inc.
4.1.15 Digital health IPO’s
4.1.16 Fitbit, Inc. acquisition of twine health
4.1.17 Headspace acquired Alpine. Ai
4.1.18 muse acquired meditation studio
4.1.19 Mckesson acquired Vantage Oncology, LLC
4.1.20 Teladoc acquired Advance Medical
4.1.21 Medidata acquired shyft Analytics
4.1.22 American Well acquired Avizia
4.1.23 Intouch Health acquired Reach Health
4.1.24 Livongo acquired Retrofit
4.1.25 Babyscripts acquired iBirth
4.2 Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
4.3 Vendor Landscape
4.3.1 A partial list of key distributors and channel partners
4.3.2 Key customers
4.3.3 Key company market share analysis, 2020
4.3.4 Public Companies
4.3.5 Private companies
Chapter 5 Digital Health Market: Technology Estimates & Trend Analysis
5.1 Digital Health Market: Technology Movement Analysis (USD Million), 2020 & 2028
5.2.1 Tele-healthcare market estimates and forecasts, 2016-2028 (USD Million)
220.127.116.11 Telecare market estimates and forecasts, 2016-2028 (USD Million)
18.104.22.168 Activity monitoring
22.214.171.124 Remote medication management
126.96.36.199 Telehealth market estimates and forecasts, 2016-2028 (USD Million)
188.8.131.52 Long-term Care (LTC) Monitoring
184.108.40.206 Video Consultation
5.3.1 mhealth market estimates and forecasts, 2016-2028 (USD Million)
220.127.116.11 Wearables market estimates and forecasts, 2016-2028 (USD Million)
18.104.22.168 BP Monitors
22.214.171.124 Glucose Meter
126.96.36.199 Pulse Oximeter
188.8.131.52 Sleep Apnea Monitors
184.108.40.206 Neurological Monitors
220.127.116.11 Activity Trackers/Actigraphs
5.3.3 mHealth apps
18.104.22.168 mHealth apps market estimates and forecasts, 2016-2028 (USD Million)
22.214.171.124 Medical Apps
126.96.36.199 Fitness Apps
5.3.4 mHealth services, By Type
188.8.131.52 mHealth services market estimates and forecasts, 2016-2028 (USD Million)
184.108.40.206 Monitoring Services
220.127.116.11.1 Revenue estimates and forecasts for mhealth monitoring services, 2016-2028 (USD Million)
18.104.22.168.2 Independent Aging Solutions
22.214.171.124.3 Chronic Disease Management & Post-acute Care Services
126.96.36.199 Diagnosis Services
188.8.131.52 Healthcare Systems Strengthening Services
5.3.5 mHealth Services, By Participants
184.108.40.206 Mobile Operators
220.127.116.11 Device Vendors
18.104.22.168 Content Players
22.214.171.124 Healthcare Providers
5.4 Healthcare Analytics
5.5 Digital Health System
5.5.1 Digital health system market estimates and forecasts, 2016-2028 (USD Million)
5.5.2 Electronic Health Records (EHR)
5.5.3 E-prescibing System
Chapter 6 Digital Health Market: Component Estimates & Trend Analysis
6.1 Digital Health Market: Component Movement Analysis (USD Million), 2020 & 2028
6.2 Digital Health Software
6.3 Digital Health Hardware
6.4 Digital Health Services
Chapter 7 Digital Health Market: Regional Estimates & Trend Analysis, By Technology and Component
7.1 Regional Market Snapshot
7.2 Digital Health Market Share, By Region, 2020 & 2028 (USD Million)
7.3 Market Share Analysis, by Country, 2020
7.4 SWOT Analysis, by Factor (Political, Legal, Economic and Technological)
Chapter 8 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/vtasuf
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager [email protected] For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900