Artificial Intelligence
Global Digital Health Market Size, Share & Trends Analysis Report 2021-2028
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
1.2.1 Telecare
1.2.2 Telehealth
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
3.2.1.1 Increasing adoption of digital healthcare
3.2.1.2 Rise in artificial intelligence, IoT, and big data
3.2.1.3 Growing adoption of mobile health applications
3.2.1.4 Supportive initiatives and increasing strategic alliances
3.2.1.5 High penetration of smartphones
3.2.2 Market Restraint Analysis
3.2.2.1 Cybersecurity and privacy concerns
3.2.3 Market Challenges
3.2.3.1 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 Tele-healthcare
5.2.1 Tele-healthcare market estimates and forecasts, 2016-2028 (USD Million)
5.2.2 Telecare
5.2.2.1 Telecare market estimates and forecasts, 2016-2028 (USD Million)
5.2.2.2 Activity monitoring
5.2.2.3 Remote medication management
5.2.3 Telehealth
5.2.3.1 Telehealth market estimates and forecasts, 2016-2028 (USD Million)
5.2.3.2 Long-term Care (LTC) Monitoring
5.2.3.3 Video Consultation
5.3 mHealth
5.3.1 mhealth market estimates and forecasts, 2016-2028 (USD Million)
5.3.2 Wearables
5.3.2.1 Wearables market estimates and forecasts, 2016-2028 (USD Million)
5.3.2.2 BP Monitors
5.3.2.3 Glucose Meter
5.3.2.4 Pulse Oximeter
5.3.2.5 Sleep Apnea Monitors
5.3.2.6 Neurological Monitors
5.3.2.7 Activity Trackers/Actigraphs
5.3.3 mHealth apps
5.3.3.1 mHealth apps market estimates and forecasts, 2016-2028 (USD Million)
5.3.3.2 Medical Apps
5.3.3.3 Fitness Apps
5.3.4 mHealth services, By Type
5.3.4.1 mHealth services market estimates and forecasts, 2016-2028 (USD Million)
5.3.4.2 Monitoring Services
5.3.4.2.1 Revenue estimates and forecasts for mhealth monitoring services, 2016-2028 (USD Million)
5.3.4.2.2 Independent Aging Solutions
5.3.4.2.3 Chronic Disease Management & Post-acute Care Services
5.3.4.3 Diagnosis Services
5.3.4.4 Healthcare Systems Strengthening Services
5.3.5 mHealth Services, By Participants
5.3.5.1 Mobile Operators
5.3.5.2 Device Vendors
5.3.5.3 Content Players
5.3.5.4 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
Artificial Intelligence
Management ‘bought the AI hype’ and expect value but research shows lack of organizational readiness is primary hurdle: IFS
IFS commissioned research shows value creation lags AI promise without the right planning and application
LONDON, April 23, 2024 /PRNewswire/ — New research from IFS, the global cloud enterprise software company, has found that executive and board leadership have ‘bought the AI hype’ but organizations are unable to deliver operationally on expectations. The new global study of 1,700 senior decision makers, Industrial AI: the new frontier for productivity, innovation and competition, found that the promise of AI is being held back by technology, processes and skills. Half of respondents remain optimistic that with the right AI strategy, value can be realized in the next two years, and a quarter believe in the next year.
Expectations failing to meet reality
84% of executives anticipate massive organizational benefits from AI, with the top three areas AI is expected to deliver value in being high-impact: product & service innovation, improved internal & external data availability, and cost reductions & margin gains. The hype has become so high that 82% of senior decision-makers acknowledge that there is significant pressure to adopt AI quickly. However, this same group of respondents state that they are concerned that a failure to plan, implement and communicate properly means AI projects will stall in pilot stage.
Many organizations have not prioritized elements of development, nor have the infrastructure required to reap the rewards or the skills to deliver on that promise. The study found that over a third (34%) of businesses had not moved to the cloud. While this is not essential to AI adoption, it is indicative of an unprepared enterprise unlikely to be able to scale AI across their business. According to IFS, a robust Industrial AI strategy requires a potent combination of cloud, data, processes, and skills. 80% of respondents agree that the lack of a strategic approach means they have insufficient skills in-house to successfully adopt AI. This sentiment is seen elsewhere in the research with 43% of respondents rating the quality of AI resources in their business, in terms of human skills, as passable and not where it needs to be.
Christian Pedersen, Chief Product Officer, IFS, commented: “AI is poised to become the most transformational enterprise tool ever seen, but our research reveals that there are still fundamental misunderstandings about how to harness its power within an industrial setting. It is telling that AI is expected to significantly reduce costs and raise margins, but a lack of robust strategy means most businesses are under-skilled and under-prepared to achieve these ambitions. We built IFS.ai specifically with these challenges in mind. AI value simply will not be found in a single AI capability but instead by delivering AI across all products and business processes. This supports customers’ decision cycles and provides the data and AI services required to realize value faster.”
Pedersen continued: “Achieving this at scale needs a clear-eyed strategic focus, including the high-impact use cases specific to their industry, having a cloud-based infrastructure in place which has industrial AI embedded, and investing early in developing the skills needed. Adopting this approach will turn the tide of disillusionment, and deliver the benefits that boards and the C suite are demanding.”
Outlook optimistic but planning needed
The unfortunate reality of the skills gap means that in terms of AI readiness, many businesses are falling behind. IFS found that nearly half of respondents (48%) were most likely to say that they are gathering proposals and were much less likely to have a clear strategy and perceivable results (27%). A fifth of respondents are in the research phase, with uncontrolled tests taking place and a further 5% are lacking a coordinated approach and do not have anything in motion yet. Despite initial challenges, there is still optimism with respondents most likely to feel AI could make a significant difference to their business in 1-2 years (47%), and a further quarter (24%) believe it could be within a year.
In particular, respondents are most optimistic about the impact of AI in smart production and/or service delivery on effectiveness & business and operational management (22%) in the future. One fifth see the biggest impact being on innovation with new products and services (20%), growth & business model decision-making (20%), empowering people and increasing talent retention (19%), and customer experience and customer service (19%).
Action needed on data readiness
To reap these benefits, enterprises need to leverage the most strategic asset they have – their data. The right data volume and quality is critical for the success of AI applications. Respondents recognize how important real-time data is to successful AI projects, with over 4 in 5 (86%) stating this. Yet despite this recognition, less than a quarter (23%) of respondents have completed their data foundation with it supporting both data-driven business decision making and real time response to changes, suggesting that more work needs to be done to get data AI ready. Moreover, under half (43%) of respondents have majority structured data, with some unstructured.
Pedersen commented: “The lack of maturity at the data foundation layer needs to be addressed as part of an overall AI strategy, otherwise AI simply will never be the magic bullet that can turbocharge the enterprise. Clearly enterprises need support on data management and migration. While AI is seen as a shiny new tool that will revolutionize business, like all technology, it is never that simple. The power of Industrial AI is that it can touch all facets of a business from product innovation and customer experience to productivity and ESG. Its potential is massive if executives and organizations can combine vision, strategy, technology and skills. Now is the time to step back, take stock, and build a true Industrial AI plan and turn the hype into reality.”
Methodology:
Censuswide surveyed 1,709 C-level/President/SVP/Directors who work in Manufacturing, Telecommunications, A&D, Services, Construction & Engineering or Energy & resources in organizations with $50m+ annual revenue (Aged 18+) across the UK, USA, Canada, Germany, France, UAE, Norway, Japan, Australia, Sweden, Denmark and Finland between 06.03.2024 – 27.03.2024.
IFS Press Contacts:MEA& APJ: Adam GillbeCorporate CommunicationsEmail: [email protected] Phone: +44 7775 114 856
USA: Mairi MorganCorporate CommunicationsEmail: [email protected] Phone: +44 7918 607 299
This information was brought to you by Cision http://news.cision.com
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Artificial Intelligence
University medical centers in Germany choose Sectra’s radiology solution to streamline workflows and shorten lead times for patients
LINKÖPING, Sweden, April 23, 2024 /PRNewswire/ — International medical imaging IT and cybersecurity company Sectra (STO: SECT B) has signed two contracts to provide the radiology module of its enterprise imaging solution with two university medical centers in Germany—Universitätsklinikum Tübingen and Universitätsmedizin Göttingen. By implementing Sectra’s radiology solution, the hospitals aim to improve and streamline radiology workflows with Sectra’s tools for enhanced reporting efficiency, in turn speeding up diagnostics.
“When choosing a vendor, we wanted one that could provide us with a stable and fast system. We also wanted one facilitating collaboration among our radiologists. That way we can streamline our radiology workflows and in turn shorten lead times for patients as well as reduce the ever increasing workload for radiologists,” says Dr. Babak Panahi, Managing Senior Physician and Head of CT and CT Intervention, Universitätsmedizin Göttingen.
Universitätsmedizin Göttingen and Universitätsklinikum Tübingen are two university medical centers located in the cities of Göttingen and Tübingen in Germany managing 300,000 and 600,000 radiology exams a year. The two separate contracts for Sectra’s radiology solution were both signed during the third quarter of Sectra’s 2023/2024 fiscal year.
“Radiologists are under a lot of pressure as they are challenged to handle more images and more complex cases with less resources. Having a solution designed to streamline radiology workflows, facilitating reading and reporting of images, is therefore paramount. I am happy and excited to support Universitätsmedizin Göttingen and Universitätsklinikum Tübingen on their journey towards efficient radiology diagnostics,” says Guido Bötticher, Managing Director, Sectra DACH.
The radiology module is part of Sectra’s enterprise imaging solution that provides a unified strategy for all imaging needs while lowering operational costs. The scalable and modular solution, with a VNA at its core, allows healthcare providers to grow from ology to ology and from enterprise to enterprise. Visit Sectra’s website to read more about Sectra and why it’s top-ranked in ‘Best in KLAS’.
About SectraSectra contributes to a healthier and safer society by assisting health systems throughout the world to enhance the efficiency of care, and authorities and defense forces in Europe to protect society’s most sensitive information. The company, founded in 1978, is headquartered in Linköping, Sweden, with direct sales in 19 countries, and distribution partners worldwide. Sales in the 2022/2023 fiscal year totaled SEK 2,351 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit Sectra’s website.
For further information, please contact: Dr. Torbjörn Kronander, CEO and President Sectra AB, 46 (0) 705 23 52 27Marie Ekström Trägårdh, Executive Vice President Sectra AB and President Sectra Imaging IT Solutions, 46 (0)708 23 56 10
This information was brought to you by Cision http://news.cision.com
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Artificial Intelligence
New CPS Protection Platform: TXOne Networks Unveils SageOne at GISec Global
TAIPEI, April 23, 2024 /PRNewswire/ — TXOne Networks, a frontrunner in the realm of cyber-physical systems (CPS) security, is set to unveil its groundbreaking CPS security platform, SageOne, at the highly anticipated GISec Global from April 23rd to 25th, 2024. Attendees can find TXOne Networks showcasing SageOne at stand B99 in hall 5. This innovative platform consolidates all CPS security products onto a single, central management platform, promising streamlined operations and optimized threat detection capabilities.
SageOne, aptly named “Wise Man Number One,” serves as a comprehensive management console providing a holistic view of the CPS attack surface within operational technology (OT) environments. By enabling centralized control of TXOne’s three core product lines – Stellar for endpoint protection, Element for security inspection, and Edge for network defense – SageOne facilitates integrated OT security throughout the lifecycle of protected assets, ensuring robust threat detection and response mechanisms.
Key features of SageOne include:
CPS Attack Surface Management: Prioritizing operational security by offering clear visibility into the overall security posture of OT environments, SageOne identifies security focal points, illuminating asset information and security controls.Integrated Lifecycle Protection: Through centralized management, SageOne simplifies cybersecurity governance and fosters collaborative defense. It serves as an abstraction layer, facilitating contextualization and consolidation of data across multiple products, offering tailored, task-oriented consoles for executives, security personnel, and plant leaders.CPS Threat Detection & Response: SageOne aggregates security insights from various solutions to scout for potential risks, enabling early caution and response to both known and unknown threats.SageOne’s foundation rests upon advanced components, including Threat Intelligence, Behavior-Based AI Analytics Engines, Compliance Framework, Data Visualizer, and Ecosystem Integrator, ensuring comprehensive protection and seamless integration of different tools and technologies.
With its focus on analyzing unexpected behavior and unknown threats, SageOne enables the identification of suspicious events through cross-telemetry analysis within the OT-native XDR engine. This amalgamation of advanced technologies and user-friendly interface ensures the protection of critical infrastructures.
For rapid threat response, SageOne issues early warnings of suspicious behavior and orchestrates cross-telemetry analysis for CPS Threat Detection & Response. Integrated Lifecycle Protection ensures the security of devices and systems throughout their service life, contributing to great cost efficiency.
TXOne Networks reaffirms its commitment to CPS security and continuous advancement in OT security through SageOne. Visit TXOne Networks at the GISec Global from April 23rd to 25th, 2024, at stand B99 in hall 5.
For further updates and information, follow TXOne Networks on the blog, Twitter, and LinkedIn.
About TXOne Networks:
TXOne Networks provides OT security products ensuring reliability and security in industrial control systems and operational technology environments through the OT Zero Trust methodology. Collaborating with leading industrial manufacturers and critical infrastructure operators, TXOne Networks offers practical and business-friendly approaches to OT defense. Its network and endpoint-based products secure OT networks and mission-critical devices in real-time with high security depth.
Website: www.txone.com
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