Global Digital Health Technologies Market By Technology (Tele-healthcare, mHealth, Health Analytics, Digital Health Systems), By Product (Wearable Devices, Healthcare Information Systems), By Component (Software, Hardware, Services), By End User (B2B, B2C), By Geography – Industry Trends and Forecast to 2024
The Global Digital Health Technologies Market accounted to USD 40.74 billion in 2016 growing at a CAGR of 4.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Digital health technology is the blend of digital and genomic technologies. These technologies are used for health and healthcare to enhance the efficacy of healthcare delivery, to make medicines more precise and efficient. These technologies include hardware and software, as it is concerned with the development of interconnected health systems to improve the use of computational technologies.
Major Market Drivers and Restraints:
- Increase in the number of smartphone users
- Adoption of m-health technologies for health monitoring
- Remote patient monitoring services
- Technological advancements in Healthcare IT
- Favorable initiatives for the introduction of technologies
- Safety concerns regarding management data
- High expenditure and maintenance requirement
Major Market Competitors:
Some of the major players operating in digital health technologies market are Koninklijke Philips N.V., AT&T Intellectual Property, Cerner Corporation, Cisco Systems, Inc., athenahealth, Inc., Qualcomm Technologies, Inc., LifeWatch, BioTelemetry, Inc., Andon Health Co. Ltd., McKesson Corporation, eClinicalWorks, Agfa-Gevaert Group, Allscripts, Epic Systems Corporation, IBM, General Electric Company, Healthland, Abbott, China Huaxin, CardioNet, Evolent Health, Inc., Bosch Healthcare Solutions, Bayer AG, F. Hoffmann-La Roche Ltd., Gloria, Johnson&Johnson Services inc., GlobalMed, Huawei Technologies Co., Ltd., Honeywell Life Care Solutions and OMRON Corporation among others.
Market Segmentation:
On The Basis Of Technology: – tele-healthcare, mHealth, health analytics and digital health systems. Tele-healthcare is segmented into telecare and telehealth. mHealth is segmented into wearables and apps. Wearables are sub segmented into BP monitor, glucose meter, pulse oximeter, sleep apnea monitors and others. Apps are sub segmented into medical apps and fitness apps. Digital health systems are sub segmented into electronic health records and e-prescribing systems.
On The Basis Of Geography, digital health technologies market report covers data points for 28 countries across multiple geographies such as North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.
On The Basis Of Product: – wearable devices and healthcare information systems. Healthcare information systems are sub segmented into clinical solutions and non-clinical solutions.
On The Basis Of Component:-software, hardware and services.
On The Basis Of End User: – B2B and B2C. B2B is sub segmented into providers, employers, payers, and pharmaceutical companies. B2C is sub segmented into patients and caregivers.
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Competitive Analysis:
The digital health technologies market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of digital health technologies market for global, Europe, North America, Asia Pacific and South America.
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