North America The digital health market holds the highest revenue potential. South Asia and the digital health market share in the Pacific will reach $275,462.9 million by 2032. Innovations in electronic health records (EHRs) are helping companies in the digital health market gain global recognition.
NEWARK, Del., October 31, 2022 /PRNewswire/ — The Global digital health market should reach a valuation of US$2,585.98 billion by 2032, with sales growing at an astonishing CAGR of 27.7% from 2022 to 2032. Due to the growing awareness about the benefits of digital health, the market for the same is likely to expand quickly and reach US$224.24 billion by the end of 2022.
The deep penetration of electronic gadgets and devices and the technological advancements associated with the growing acceptance of telemedicine and telehealth services will fuel the growth of the digital health market over the forecast period.
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With the rapid digitization of the healthcare industry, the outlook for the digital healthcare market is also expected to improve. The increasing use of advanced technological tools like big data and others bodes well for the target market. Telemedicine and telehealth services are also on the rise and are increasingly being adopted by both the medical community and public and private entities. This will likely have a positive impact on the digital health market.
Additionally, the increasing prevalence of chronic diseases such as cancer, cardiovascular disease, diabetes, Alzheimer’s disease and other medical conditions that require long-term care and constant patient monitoring contribute to the growing demand for digital health services. Additionally, electronic gadgets and smart devices such as smartphones are increasingly being used as health and fitness trackers, which further contributes to the growth of the digital health market over the forecast period.
“Improved healthcare IT infrastructure coupled with access to virtual care will drive the global digital health market growth during the forecast period,” says an IMF analyst.
Key points to remember:
- The growing prevalence of medical conditions requiring long-term care and monitoring is facilitating the growth of the digital health industry market.
- Patient data security concerns are hampering the growth of the market over the assessment period.
- By type of deployment, the cloud-based segment will likely reach an estimate US$519,151.4 million by 2032.
- Based on the solution, the software segment is expected to hold around 45.6% of the digital health market revenue.
- North America is expected to dominate the global digital health market space with a 45.9% share of total revenue.
- The digital health market in South Asia & Pacific is expected to reach US$275,462.9 million by 2032.
AT&T Inc., Apple Inc., AirStrip Technologies LP, Alcatel-Lucent Corporation, Cerner Corporation, Symantec Corporation, Aruba Networks, Inc., Cisco Systems, Inc., Qualcomm, Inc., Siemens Healthcare, and Philips Healthcare, among other major Digital Health market players profiled in the full version of the report.
The major players in the market are focusing on launching cutting-edge and affordable solutions to maintain a competitive edge. These companies are also adopting tactics such as strategic alliances, partnerships, collaborations, acquisitions, and joint ventures to increase their market share.
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More information about the Digital Health market report
In its latest report, FMI offers an unbiased analysis of the Global Digital Health Market, providing historic data and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market, the market is segmented by Product Type (Software (Healthcare Payer Software (Healthcare Claims Management Software, Healthcare CRM Software, Payer Care Management Software, Other), Healthcare Provider Software healthcare (EHR/EMR software, e-prescribing software, healthcare asset management software, population health management software, others)), services (managed services, professional services (healthcare consulting services , integration and implementation services, support and maintenance services))), deployment (cloud-based, on-premises), end-user (diagnostic centers, payers of health care, health care research centers, hospitals and clinics, nursing centers, others) and the region.
According to the latest IMF reports, based on segmentation, the cloud-based deployment segment will make a significant contribution to the growth of the overall market. This segment should reach US$519,151.4 million by 2032 due to the increasing use of cloud-based solutions by various healthcare organizations. The software solutions segment will also drive the growth of the market, accounting for a value of US$646,393.1 million in 2032.
Based on region, the digital health market in North America will show remarkable growth during the period 2022-2032. The region is likely to dominate the market and hold around 45.9% of market revenue. North America The digital health market is expected to account for a market share worth US$196,094.5 million.
Presence of lucrative financing options, wide reach of smartphones and other similar devices, improved internet connectivity and easy adaptability to advancing technology along with other factors like an aging population and high prevalence of chronic diseases propel the target market in this region. Outraged North Americathe Asia Pacific The region will also show considerable growth in the digital health market during the forecast period.
- Healthcare Payer Software
- Healthcare Claims Management Software
- CRM software for healthcare
- Payer Care Management Software
- Software for Healthcare Providers
- EHR/EMR software
- Electronic prescription software
- Healthcare Asset Management Software
- Population Health Management Software
- Managed Services
- Professional services
- Healthcare Consulting Services
- Integration and Implementation Services
- Support and maintenance services
Per end user:
- Diagnostic centers
- Health Care Payers
- Health research centers
- Hospitals & Clinics
- Nursing centers
- North America
- Latin America
- Asia Pacific
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1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
To continue the table of contents…
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