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Digital Health Market - insightSLICE

Government initiatives to digitize the healthcare sector globally are driving the growth of the digital health market.

SANTA ROSA, CALIFORNIA, UNITED STATES, July 6, 2023/EINPresswire.com/ -- The Global Digital Health Market Share, Trends, Analysis and Forecasts, 2023-2032 presents extensive information on the latest trends, factors driving the market growth, potential opportunities, and challenges that may impact the industry's market dynamics. It offers a detailed examination of the different market segments, such as products, components, end-user, and competitive landscape.

𝐆𝐄𝐓 𝐀 𝐒𝐀𝐌𝐏𝐋𝐄 𝐑𝐄𝐏𝐎𝐑𝐓: https://www.insightslice.com/request-sample/78

The Global Digital Health Market was estimated to be US$ 213.5Billion in 2022 and is expected to reach US$ 1,168.01 Billion by 2032 at a CAGR of 18.6%.

Digital health is the collaboration of genomic and digital evolutions with health and living. We are experiencing that digital health allows us to track, manage, and improve our personal and family's health, enabling us to live better and more productive lives, and enhancing our societies.

The increasing penetration of smartphones, improved internet connectivity with the introduction and adoption of 4G/5G, advancements in healthcare IT infrastructure, and the rising need to curb excessive healthcare costs, along with the prevalence of many chronic diseases, are some of the factors driving the growth of the digital health market.

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐝𝐫𝐢𝐯𝐢𝐧𝐠 𝐭𝐡𝐞 𝐠𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐇𝐞𝐚𝐥𝐭𝐡 𝐌𝐚𝐫𝐤𝐞𝐭

Government initiatives to digitize the healthcare sector globally are driving the growth of the digital health market. Several developed countries are facing a shortage of medical professionals, and telemedicine/telehealth services help doctors reach many patients. This enhances access to healthcare, reduces the time required by both the doctor and the patient, and significantly helps reduce healthcare costs. People living in remote areas no longer have to travel long distances to access healthcare services, as telehealth allows them easier access to treatment.

The Internet of Things (IoT) has also become popular in the healthcare sector. With increased strong mobile connectivity, efficient data backup through integrated analytics, and advanced wearables, IoT is transforming the healthcare sector by facilitating various activities, such as an efficient tracking system for staff, patients, and inventories. It ensures the availability of critical medical equipment, drugs, medicines, and other necessary items.

The restraining factor in the growth of the digital healthcare market is the cybersecurity issues that arise with the rising adoption of smartphones and internet connectivity. Many people are able to avail and access the digital healthcare system, but there are prevailing cybersecurity problems that pose significant challenges.

Data breaches and hacks of large numbers of patients' data and other medical-related information can cause severe problems in the healthcare sector. Consequently, governments across various economies are compelled to allocate more resources towards cybersecurity, which hampers the speed of market growth.

𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐇𝐞𝐚𝐥𝐭𝐡 𝐌𝐚𝐫𝐤𝐞𝐭

On the basis of product type, the digital healthcare market is divided into two segments: healthcare information systems and wearable devices. The healthcare information segment is further categorized into non-clinical solutions and clinical solutions. Within clinical solutions, there are subcategories such as EHR/EMR, CPOE, CDS, mHealth, telehealth, and population health management.

The healthcare information sector currently dominates the market and is expected to continue its growth in the forecasted period. This is due to the growing need for accurate health monitoring, secure storage of healthcare information, and real-time population management. The upgradation of the telehealth care segment is also a significant contributor to the growth of this sector.

The wearables segment is expected to experience rapid growth in the forecasted period, driven by increasing awareness about health and physical fitness, leading more people to adopt wearable devices.

Based on component, the market is segmented into hardware, software, and services. The service segment is the largest in this category, fuelled by the growing demand for various services such as training, staffing, installation, maintenance, and others. Continuous software system upgrades drive the growth of installation and training services.

However, the software segment is expected to grow at the fastest pace in the forecasted period. This growth is attributed to the rapid adoption of software solutions by patients, hospitals, healthcare providers, and insurance players. Additionally, the integration of artificial intelligence (AI) is augmenting the market's growth.

The market is further segmented into B2B and B2C based on end-users. The B2B segment is the largest contributor to market growth, driven by increasing demand from pharmaceutical companies, healthcare providers, and government organizations.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐓𝐫𝐞𝐧𝐝𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐇𝐞𝐚𝐥𝐭𝐡 𝐌𝐚𝐫𝐤𝐞𝐭

Geographically, the global digital health market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.
North America is the largest contributor to the market and is expected to maintain its leadership in the forecasted period. The region has been at the forefront of adopting smart healthcare solutions, including mobile apps, smart wearables, and eHealth services.

Factors such as the increasing adoption of mobile phones, better network coverage, rise in chronic diseases, a growing geriatric population, and rising healthcare costs are driving the growth of the digital health market in the region.

Asia-Pacific is expected to experience the fastest growth in the forecasted period. This growth is driven by the region's increasing population, as it houses some of the largest countries like India and China. As the economies in Asia-Pacific are growing rapidly, governments are taking various initiatives to improve the healthcare sector and address the rising healthcare needs of the population.

𝐃𝐈𝐒𝐂𝐔𝐒𝐒 𝐌𝐎𝐑𝐄 𝐃𝐄𝐓𝐀𝐈𝐋𝐒 𝐖𝐈𝐓𝐇 𝐎𝐔𝐑 𝐄𝐗𝐏𝐄𝐑𝐓𝐒: https://www.insightslice.com/callwithauthor/78

The major players in the global digital health market are Cisco systems Inc., Siemens Healthineers, McKesson Corp, Alscipts,Heathcare SolutionsInc, Cerner Corp, Philips healthcare, GE Heathcare, Epic Systems Corp,and Truven Health analytics among others.

𝐌𝐀𝐑𝐊𝐄𝐓 𝐒𝐄𝐆𝐌𝐄𝐍𝐓𝐀𝐓𝐈𝐎𝐍:

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐏𝐫𝐨𝐝𝐮𝐜𝐭:

• Healthcare information systems
> Non clinical solutions

> Clinical solutions
- EHR/EMR
- Computerized physician order entry(CPOE)
- Clinical decision support system (CDSS) mHealth
- Telehealth
- Population management system

• Wearable devices

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭:

• Hardware
• Software
• Services

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐄𝐧𝐝 𝐮𝐬𝐞𝐫:

• B2B
• B2C

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐑𝐞𝐠𝐢𝐨𝐧

• North America
> United States
> Canada
> Rest of North America

• Europe
> Germany
> United Kingdom
> Italy
> France
> Spain
> Rest of Europe

• Asia Pacific
> Japan
> India
> China
> Australia
> South Korea
> Rest of Asia Pacific

• Middle East & Africa
> UAE
> Saudi Arabia
> South Africa
> Rest of the Middle East & Africa

• South America
> Brazil
> Rest of South America

𝐁𝐔𝐘 𝐓𝐇𝐈𝐒 𝐏𝐑𝐄𝐌𝐈𝐔𝐌 𝐑𝐄𝐒𝐄𝐀𝐑𝐂𝐇 𝐑𝐄𝐏𝐎𝐑𝐓: https://www.insightslice.com/buy-now/78

𝐀𝐛𝐨𝐮𝐭 𝐮𝐬:

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐮𝐬:

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