Digital health makes the usage of technology to support individual get better with their health. The wearable devices, mobile health apps, electronic health records, ingestible sensors, and automated care devices are major component of the digital health. Countless government is taking initiatives to encourage the digital health in their economy. For instance, the Australian government has taken the initiative to encourage the healthcare it in Australia through a lifetime policy PCEHR (Personally Controlled Electronic Health Record) for each of its citizen. The requirement for digital health is growing on account of the increasing number of smartphone users, developing the healthcare IT infrastructure in the developed and underdeveloped region, the increasing awareness about the essential of health and fitness amongst the populace, growing usage of several health and medical apps to manage the fitness.
According to the report analysis, ‘Digital Health Market: Current Analysis and Forecast (2021-2027)’ states that the effective growth in the geriatric populace, growing healthcare expenditure, and growing prevalence of the syndromes comprising chronic obstructive pulmonary disease (COPD), cancer and diabetes also influence the market growth.
The market growth is accredited to the increasing popularity of healthcare IT. Several private and public institutions have already moved to the wave of IT implementation by fully digitizing their whole enterprise. Also, digital health technology allows having smarter choices, enabling the people to spend more time on tasks they deem appreciated, thus fundamentally transmuting the market space.
Medtronic, Allscripts Healthcare Solutions Inc., Biotelemetry Inc., Eclinicalworks, Ihealth Lab Inc, Mckesson Corporation, Koninklijke Philips N.V, At & T, Cisco Systems, And Athenahealth Inc. are the key enterprises which recently functioning in the digital health market more proficiently for ruling around the globe, registering the great value of market share, obtaining the competitive edge, leading the highest market growth, generating the high percentage of revenue and keep maintain the dominant position by improving the qualitative and quantitative measures of such, spreading the awareness connected to the features and applications of such, establishing the several research and development programs, increasing the applications and specifications of such, implementing the expansion strategies and profit making policies, delivering the better consumer satisfaction and decreasing the associated prices of such.
Based on the deployment mode, the digital health market is segmented into hardware, software and service. The software sector is predicted to account the greatest CAGR during the review duration due to the growing requirement for decreasing the medical costs, and countless initiatives taken by the government organizations to boom the healthcare IT also influenced the market growth. FDA launched the digital health center of superiority during the recent years, for the empowerment of stakeholders to improve the healthcare by influencing accountable and high-quality digital health revolution.
Growth of the global digital health market is majorly propelled by an augment in requirement for remote monitoring services; augment in funding from private & government organizations for mHealthstartup; increment in prevalence of chronic syndrome; and augment in technology in the healthcare sector. Therefore, in the near years, it is predicted that the market of digital health will increase around the globe more actively over the coming years.
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