Digital Health Market is expected to reach valuation of US$ 2585.98 billion by 2032 | FMI
The Global Digital Health Market is expected to reach a valuation of US$ 2585.98 Bn by 2032, with sales growing at an astounding CAGR of 27.7% from 2022 to 2032. Owing to the rising awareness of digital health benefits, the market for the same is likely to expand at a rapid rate and reach an estimated US$ 224.24 Bn by the end of 2022.
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The
deep penetration of electronic gadgets and devices and advancing technology
coupled with the rising acceptance of telemedicine and telehealth services will
fuel the growth of the digital health market during the forecast period.
With
the rapid digitalization of the healthcare sector, the prospects for the
digital health market are also set to rise. Increasing usage 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
adopted by both the medical community and public and private entities. This
will likely have a positive impact on the digital health market.
Moreover,
the increasing prevalence of chronic diseases like cancer, cardiovascular
diseases, diabetes, Alzheimer’s, and other medical conditions that require
long-term care and constant patient monitoring contribute to the rising demand
for digital health services. In addition, electronic gadgets and smart devices
such as smartphones are increasingly used as health and fitness trackers which
further aids the growth of the digital health market during the forecast
period.
“Improving
healthcare IT infrastructure coupled with access to virtual care will stimulate
the global growth of the digital health market over the forecast period,” says
an FMI analyst.
Key
Takeaways:
- The
rising prevalence of medical conditions requiring long-term care and
monitoring facilitates market growth of the digital health industry.
- Concerns
regarding patients’ data security stymies market growth during the
assessment period.
- By
deployment type, the cloud-based segment will likely reach an estimated
US$ 519,151.4 Mn by 2032.
- On
the basis of solution, the software segment is predicted to hold about
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 the total revenue.
- The
digital health market in South Asia & Pacific is anticipated to reach
US$ 275,462.9 Mn by 2032.
Competitive
Landscape
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 others are
some of the major players in the digital
health market profiled in the full version of the report.
Leading
market players are focusing on launching state-of-the-art and affordable
solutions to retain a competitive edge. These firms also adopt tactics like
strategic alliances, partnerships, collaborations, acquisitions, and joint
ventures to increase their market share.
Key
Segments
By
Solution:
- Software
- Healthcare
Payers Software
- Healthcare
Claims Management Software
- Healthcare
CRM Software
- Others
- Payer
Care Management Software
- Healthcare
Providers Software
- EHR
/ EMR Software
- E-Prescribing
Software
- Healthcare
Asset Management Software
- Others
- Population
Health Management Software
- Services
- Managed
Services
- Professional
Services
- Healthcare
Consulting Services
- Integration
& Implementation Services
- Support
& Maintenance Services
By
Deployment:
- Cloud-based
- On-Premises
By
End User:
- Diagnostics
Centers
- Healthcare
Payers
- Healthcare
Research Centers
- Hospitals
& Clinics
- Nursing
Care Centers
- Others
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