The research report on ‘North America Digital Health Market’ focuses on major trends determining the industry outlook over the forecast period 2021-2027. The report delves into major driving factors, challenges, and prospects that will define the market’s growth trajectory in the forthcoming years.
According to MarketStudyReport, North America digital health market is touted to reach a valuation of USD 261 billion by 2027. The proportion of people suffering from chronic illnesses is rising year by year and has become a cause of concern in North America. Thus, authorities have been taking efforts to introduce several initiatives to build awareness about the benefits of using digital healthcare services.
The research literature, which has been collated and verified by experts, splits the market on the basis of technology, component type, and regional outlook. A study of qualitative and quantitative aspects of each of these segments is also included to provide better clarity to the readers.
The report also houses information on competitive hierarchy and provides a detailed analysis of product profiles of major contenders in this business vertical.
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The adoption of IT solutions in healthcare, and the demand for advanced treatments is increasing among patients which is creating a positive industry outlook. Also, high prevalence of chronic diseases like diabetes and heart diseases, increasing incidence of obesity, surging demand for remote patient monitoring services, and growing patient engagement & connectivity are aiding the industry growth.
In addition, increasing awareness about preventive healthcare and the availability of funds in various mHealth startups are further boosting market growth. Moreover, a marked surge in the number of patients suffering from ailments requiring long-term care (LTC) such as cancer, Alzheimer’s disease, diabetes, and CVDs is also propelling industry growth.
Market segmentation review:
Based on technology gamut, the market is divided into mHealth, [wearable {glucose meters, neurological monitors, pulse oximeters, BP monitors, sleep apnea monitors}, apps {fitness, medical}], telehealthcare [telecare {remote monitoring management, LTC monitoring, activity monitoring, video consultation}] digital health systems [e-prescribing system, EHR] and health analytics. Moving on to component type, digital health industry is arrayed into software, hardware and services.
Asia Pacific Market:
Asia Pacific digital health market is on track to amass a valuation of USD 107.5 billion by the end of 2026, primarily driven by the fast-developing healthcare IT infrastructure in industrialized countries.
Notably, the coronavirus pandemic in 2020 significantly triggered digital transformation in healthcare, with the use of various new-age technologies. A recent study on the uses of telemedicine during the coronavirus pandemic found that 70% participants consider telemedicine is the future of healthcare in India. Such indicators foreshadow a strong growth trajectory for Asia Pacific digital health industry. In 2020, Asia Pacific digital health system segment was worth USD 7 billion. Healthcare informatic technologies connected with medical transcription IT systems are used in super specialty clinics and hospitals. These technologies aid in shortening medical documentation delays and directing more resources into diagnostic procedures. For example, The Indian Health Service in India maintains an EHR for Tribal, IHS, and Urban Indian health care facilities. The Resource and Patient Management System EHR gives many of its establishments’ access to decades of personal health information and epidemiological data on local populations. During COVID-19, telehealth involves bridging the gap between people, clinicians, and health systems, allowing everyone, particularly symptomatic patients, to stay at home and interact with physicians via virtual channels, therefore aiding in the reduction of virus spread. In a recent study on the usage of telemedicine during the coronavirus epidemic, 70% participants agreed that telemedicine represents the future of healthcare in India. Such strong statistics are representing a healthy growth for Asia Pacific digital health industry.
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Europe Market:
Europe Digital Health market is estimated to surpass a valuation of USD 172.6 billion by 2025 on the back of increasing penetration of gadgets like tablets, smartphones, and other mobile platforms, high demand for remote patient monitoring services, and rapidly developing healthcare IT infrastructure, and favorable government policies.
Germany digital health market, which is estimated to be worth USD 47.6 billion by 2027, has constantly stayed at the forefront of digital health transformation by continuously inventing new laws and modifying existing ones to suit present industry needs. Remote-video technology is now being used in medical interactions with healthcare personnel and systems. Especially for elderly persons or kids with ailments that need special medical attention, telemedicine is a blessing in the wake of the pandemic. Telehealth accounted for a whopping 58.4% of Europe digital health market share in 2020, owing to the growing demand for remote monitoring services. When the initial wave of the COVID-19 pandemic hit, Difrent, a digital health business in the UK, came to the rescue with a home PCR test ordering service. They sent 1 million home test kits across the UK and expanded the program from critical healthcare personnel to all UK citizens in two weeks. LifeWatch AG, McKesson Corporation, Philips Healthcare, Cerner Corporation, and Cisco Systems are the leading digital health companies in Europe.
Access sample pages of the report, “Europe Digital health Market Forecasts 2027” in detail along with the table of contents (ToC) @ https://www.marketstudyreport.com/request-a-sample/2506019/
Source: Market Study Report
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