The global Digital Health Industry was estimated at USD 211.0 billion in 2022 and is anticipated to increase at a significant CAGR of 18.6% from 2022 to 2030.
The digital health industry data book, compiled by Grand View Research, is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research along with a digital healthcare statistics e-book.
Healthcare Analytics Market Insights
The global healthcare analytics market size was valued at USD 35.3 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 21.4% from 2022 to 2030. The healthcare industry faces challenging issues such as the lack of better patient care, skyrocketing costs of treatment, and less patient retention & engagement. As a result, healthcare analytics are being incorporated into every aspect of the industry to give better care to patients and for better industry operations. These factors are key reasons for the growth of the healthcare analytics industry.
COVID-19 saw significant growth in the industry due to an increase in the need for digital solutions and better analytics tools to manage patient load in the healthcare industry. The amount of clinical data generated during the pandemic needed proper management. With the help of analytics tools and platforms, researchers and professionals derive better outcomes, predict trends, and understand the dynamics of disease outbreaks much better. An increasing burden on health establishments and professionals has created a need to adopt healthcare analytics platforms for better management and delivery of better care to patients.
In June 2020, NIH launched a healthcare data analytics platform to collect patient data for actionable insights on COVID-19. However, the post-pandemic effect shows healthcare analytics as a part of a larger solution that has much wider implications for understanding clinical data for healthcare professionals. In May 2021, the WHO and a German federal agency established a hub for pandemic data for analyzing the spread of disease, innovation in the field of medicine, and surveillance of patients to mitigate further risks in the future.
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mHealth Market Insights
The global mHealth market size was estimated at USD 56.8 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.8% from 2022 to 2030. Rising penetration of digital health services for remote patient monitoring is also increasing demand for mobile health apps, which in turn is expected to propel market growth over the forecast years. Growing awareness among individuals to use mobile health solutions and supportive government initiatives to introduce and promote remote digital healthcare are some of the factors expected to boost market growth over the years. In addition, increasing use of smartphones among adult population and teenagers is also anticipated to drive growth of mHealth platforms and technologies in the upcoming years.
The pandemic has created multiple challenges for global healthcare services. However, this situation has provided a much-needed boost to digital health technologies in the field of disease surveillance, new strategy development, and frontline care services, which has led to the change in its product life cycle trajectory. Furthermore, to improve health of populations, mobile health platforms have gained traction during the COVID-19 pandemic. The pandemic has encouraged patients and healthcare providers for adoption of digital health platforms owing to infection fear and shutdown and lockdown scenarios across the globe. Moreover, growing adoption of mobile health technology and remote patient monitoring are some of the major factors anticipated to drive the market over the years.
Go through the table of content of Digital Health Industry Data Book to get a better understanding of the Coverage & Scope of the study
Digital Health Industry Data Book Competitive Landscape
Increasing demand for technologically advanced digital health platforms and services are increasing competition in the market and thus, forcing key players to introduce new solutions in the market. Additionally, it is projected that rising industry consolidation activities, such as acquisitions and mergers by the leading market participants, as well as expanding efforts in R&D of digital health applications by key players, is also expected to boost the market share. Increasing funding and growing awareness and acceptance to adopt healthcare application is further projected to open new opportunities for the market especially at entry level.
Key players operating in the Digital Health Industry are:
- Apple Inc.
- AT&T
- AirStrip Technologies
- Allscripts
- Google Inc.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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