Global $483.75 Billion Digital Health Markets, 2015-2020, 2020-2025F, 2030F
DUBLIN, April 1, 2021 /PRNewswire/ -- The "Digital Health Global Market Report 2021: COVID-19 Growth and Change" report has been added to ResearchAndMarkets.com's offering.
Digital Health Global Market Report 2021: COVID-19 Growth and Change provides the strategists, marketers and senior management with the critical information they need to assess the global digital health market.
Major players in the digital health market are Allscripts Healthcare Solutions Inc., BioTelemetry Inc., eClinicalWorks, iHealth Lab Inc, McKesson Corporation, Koninklijke Philips N.V, AT & T, Cisco Systems, Athenahealth Inc., General Electric Company, Qualcomm Incorporated, Apple Inc., AirStrip Technologies, Google Inc., Mqure, Samsung Electronics Co. Ltd., Telefonica S.A., Vodafone Group, Philips Healthcare, and Siemens Healthineers.
The global digital health market is expected to grow from $183.30 billion in 2020 to $201.24 billion in 2021 at a compound annual growth rate (CAGR) of 9.79%. The slow growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The market is expected to reach $483.75 billion in 2025 at a CAGR of 24.52%.
The digital health market consists of sales of digital health services by entities (organizations, sole traders, and partnerships) that are engaged in providing digital health services for the smooth functioning of healthcare-related services. Digital health refers to the use of information technology/electronic communication tools, services, and procedures to provide healthcare services or to promote improved health care. Only goods and services traded between entities or sold to end consumers are included.
The main types of digital technologies are mobile health (mHealth), health information technology, telehealth and telemedicine, and health analytics. Mobile health is the medicine and public health service supported by mobile devices such as mobile phones, tablets, personal digital assistants and the wireless infrastructure.
Health analytics manage, measure or analyze healthcare data. Telehealth services provide information regarding health-related services, medical care, patient education and digital ommunication technologies. These are used by healthcare providers, healthcare payers, pharmaceutical companies in the areas of cardiology, diabetes, neurology, sleep apnea, and oncology.
North America was the largest region in the digital health market in 2020. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The data security concern associated with the potential mishandling of patient data is expected to hamper the growth of the digital health market in the coming years. The healthcare sector is digitizing business management and data management systems and is introducing new technologies to increase performance and minimize costs, but many weaknesses have been identified in this technology in several cases.
The healthcare sector is regularly targeted by cyber-criminals who are searching for some tool in their armor to carry out their hacks, and several of these attacks have been successful. According to the Healthcare Protection Vision Study from CyberMDX released in February 2020, nearly 30% of healthcare delivery organizations (HDOs) have suffered a data breach in the last 12 months. Therefore, the security concerns regarding patient data restrain the growth of the digital health market.
6.2. Global Digital Health Market, Segmentation by Application, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
6.3. Global Digital Health Market, Segmentation by End User, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
7. Digital Health Market Regional and Country Analysis
For more information about this report visit https://www.researchandmarkets.com/r/vso4ai
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