Rising cost cutting pressure in healthcare industry generates requirement for the providers to seek m-health technologies for health monitoring thereby, saving large amount of healthcare costs. Above mentioned aspects boost adoption rate of the mhealth technology and thus propels industry growth.
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Encouragement by government bodies for adoption of digital technology in healthcare and implementation of laws to digitize healthcare system are factors stimulating business growth. However, maintenance requirement and high capital expenditure coupled with security concerning patient data is projected to hamper the digital health market growth during the forecast period.
Digital health systems segment dominated the market in 2016 on an account of medical transcription IT solutions and early adoption of health information technology systems. Electronic health record (EHR) accounted for largest revenue share in digital health systems segment owing to advantages such as, real-time, patient centered accounts that is secured for authorized operators and it also makes data obtainable instantly.
mHealth segment is poised to grow lucratively as a result of increasing use of tablets, and other mobile platforms along with technological advancements. Public and medical health practice is strengthened by mobile devices such as patient monitoring devices, personal digital assistants (PDAs), mobile phones, and other wireless devices. Moreover, minimizing costs through mHealth technology is projected to exhibit significant business growth.
UK digital health market will observe substantial business growth over the forecast timeframe. The growth is attributable to factors such as, progress in technology empowered care services, early implementation of telecare service as well as large central government agendas for telecare. Furthermore, strong existing base of hardware and private institutional initiatives are contributing to UK’s digital health market.
China is anticipated to witness significant market growth due to high adoption rate of new technologies and supporting initiatives undertaken such as, Chinese government to support eHealth to address long-standing inefficiencies and unmet requirements for the health care system in nation. Additionally, favorable regulatory compliance and reduction in barriers of e-commerce that has made registering for online pharmacies easier are factors propelling business growth.
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Brazil digital health market held largest revenue share in 2016 on an account of introduction of supportive initiatives such as, digitization of electronic medical record, the National Health System (e-SUS) and technological advents, paving growth path for digital health market.
Some of the prominent business players operating in global digital health market are Allscripts Healthcare Solutions, AT & T, Athenahealth, Biotelemetry, Cerner, Cisco Systems, eClinicalWorks, iHealth Lab, Koninklijke Philips N.V., LifeWatch, McKesson, and Qualcomm.
The business players develop technologically advanced and cost-effective healthcare solutions. Implementation of strategies to reduce healthcare expenses and deliver patient centric care along with acquisition to increase company’s revenue is the main focus of business players. For instance, in December 2016, Allscripts Healthcare Solutions Inc. acquired Core Medical Solutions. The acquisition has significantly increased the company’s global offerings and strengthened its presence in Australian markets.
Digital health market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2013 to 2024, for the following segments:
Digital Health Market by Technology
- Activity monitoring
- Remote medication management
- LTC monitoring
- Video consultation
- BP monitor
- Glucose meter
- Pulse oximeter
- Sleep apnea monitors
- Neurological monitors
- Medical apps
- Fitness apps
- Health analytics
- Digital health systems
- Electronic health record (EHR)
- e-prescribing systems
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa