Home Latest News Digital Health Market Size to Increase by USD 207.34 Billion|Driven by AI...

Digital Health Market Size to Increase by USD 207.34 Billion|Driven by AI Usage in Digital Health| Technavio – Yahoo Finance

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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%.
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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:
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.
·         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
CAGR of the market during the forecast period 2020-2024
Comprehensive details of factors that will challenge the growth of digital health market vendors
Accurate predictions on upcoming trends and changes in consumer behavior
Detailed information on factors that will drive digital health market growth during the next five years
Precise estimation of the digital health market size and its contribution to the parent market
A thorough analysis of the market’s competitive landscape and detailed information on vendors
The growth of the digital health industry across North America, Europe, APAC, and South America
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 ecosystem
Value chain analysis
Market Sizing
Market definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
Five Forces Summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by Application
Market segments
Comparison by Application
Wireless health – Market size and forecast 2020-2025
Mobile health – Market size and forecast 2020-2025
EHR – Market size and forecast 2020-2025
Telehealth – Market size and forecast 2020-2025
Market opportunity by Application
Customer landscape
Geographic Landscape
Geographic segmentation
Geographic comparison
North America – Market size and forecast 2020-2025
Europe – Market size and forecast 2020-2025
Asia – Market size and forecast 2020-2025
ROW – Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends
Vendor Landscape
Overview
Vendor landscape
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Alphabet Inc.
Apple Inc.
Cisco Systems Inc.
General Electric Co.
International Business Machines Corp.
Koninklijke Philips NV
McKesson Corp.
Qualcomm Inc.
Samsung Electronics Co. Ltd.
Siemens Healthineers AG
Appendix
Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations
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:media@technavio.com
Website: www.technavio.com/
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She has been writing columns on consumer gadgets for over 2 years now. Her areas of interest include smartphones, tablets, mobile operating systems and apps. She holds an M.C.S. degree from Texas A&M University.