News Contact Us

Digital Health Market to Exhibit A profitable Growth Of 29.6%

Author : Rahul Sankrityayan | Published Date : 2019-04-03 

Global Digital Health Market is set to exceed USD 504.4 billion by 2025; according to a new research report by Global Market Insights. Presence of favorable government initiatives and funding in various countries for adoption of digitalized systems is set to fuel digital health industry growth over the coming years. For instance, Health Information Technology for Economic and Clinical Health (HITECH) Act, implemented in the U.S. providing USD 20 billion to hospitals and doctors to support their installation of EHRs is expected to fuel Digital Health Market growth in the coming years.

Increasing demand for remote monitoring services owing to rising incidences of chronic diseases worldwide is a major factor propelling the global Digital Health Market growth over the forecast period. Remote monitoring uses technology to monitor changes in health of patients suffering from chronic diseases such as Chronic Obstructive Pulmonary Disease (COPD) outside the healthcare settings. Such factors will augment digital healthcare market size.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/833

As per estimates, digital health startups the world over raised $11.5 billion in 2017, topping the 2016 record of $8 billion, further validating the fact that digital health industry will enter a more mature phase between 2017 and 2024. With early stage deal activities having fueled a start-up wave that will attract later stage opportunities and new investments on a global basis, digital health industry trends are all set to transform in the ensuing years. Indeed, the forthcoming years are anticipated to be a dynamic time period for mergers and acquisitions, funding activities and experimentation paving way for greater advancements in digital health market.

Citing an instance of the aforementioned fact, recently, London ranked first in the number of digital health deals made in 2017, with 22 deals amounting to $189 million. Beijing digital health companies raised the most revenue with $647 million, while Israel was designated a leader in terms of both money and the number of deals forged. Other cities like Paris, Shanghai, Bangalore and Toronto had also raised over $100 million.
Remote medication and patient behavior observation has for long been a remunerative part of digital health market. In fact, a new sector of this vertical that has registered a profitable traction is digital therapeutics or digiceuticals. An instance of a prominent digital therapeutics company is HealthBeacon that is aiming to bring its funding to a total of €8 million with a goal to launch into 11 markets in 2018. HealthBeacon uses its app to treat diseases by modifying patient behavior and providing remote monitoring to improve long-term health outcomes.
Digital therapeutics thus differs from basic wellness apps by being tailor-made to cater to specific chronic ailments like rheumatoid arthritis or cancer. Though not entirely curable, the severity of such diseases can be controlled and limited by modifying the manner in which patients afflicted with such illnesses conduct their lifestyle. A major difference can be achieved in health outcomes when the expertise of such digital health platforms is combined with human interaction and coaching. As more and more companies continue to invest in this space, digital therapeutics will emerge as a prominent vertical of digital health market.

With the geriatric population rising across the globe, the healthcare system will witness a paradigm shift with patients wanting to avail more health services from their homes and outside the hospital and clinical settings. In this regard, it would be imperative to mention that advent of smartphones has brought about a profound upheaval in digital health market, as it is being used to make the patients the custodians of their own health. Observing such as trend, regulatory bodies like the Food and Drug Administration (FDA) has approved 36 health devices and apps that range from mobile lung-function monitors to blood-sugar tests. According to experts at the NHS, in the coming years healthcare will witness a tectonic shift as the digital devices used to access medical information would soon come to replace human specialists and will also be recognized by authoritative bodies controlling healthcare quality.

Make an inquiry for purchasing this report @ www.gminsights.com/inquiry-before-buying/833

Key notable industry participants in global digital health market include McKesson Corporation, Allscripts Healthcare Solutions Inc., Cisco Systems, Inc., Qualcomm, Philips Healthcare, eClinicalWorks LLC. The industry players resort to new product development along with mergers and acquisitions to grab higher market share in the competitive industry.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

Related News

Global Green Building Market Outlook | Development Factors, Latest Opportunities and Forecast 2025

Published Date: 2019-09-18         Author: Rahul Sankrityayan

Global Market Insights provides a detailed overview of Global Green Building Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of XX market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and grow... Read More

Global Organic PV Solar Cells Market: Technological Advancement & Growth Analysis with Forecast to 2025

Published Date: 2019-09-18         Author: Rahul Sankrityayan

An analysis of Global Organic PV Solar Cells Market has been provided in the latest report introduced by Global Market Insights that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed st... Read More

Mobile Power Plant Market Analysis, Size, Regional Outlook, Competitive Strategies and Forecasts to 2025

Published Date: 2019-09-18         Author: Rahul Sankrityayan

A comprehensive research study on Mobile Power Plant Market introduced by Global Market Insights provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of Market in terms of the demand landscape, driving factors and growt... Read More

© 2019 Fractovia. All Rights Reserved