Digital Health Market Global forecast to 2026

Digital health is a cluster of multiplatform technologies that involves use of new age information communication technologies that utilizes digital, mobile and cloud based platforms in order to provide quality healthcare to patients. Digital health platforms such as tele medicine, tele care let health beneficiary to connect with health care provider. Digital Health synergies right information at the right place at the right time for use by the right healthcare provider.

Request Sample Copy of this Business Report @ https://www.coherentmarketinsights.com/insight/request-sample/1909

Digital health also involves utilization of the mobile health (mHealth), health information technology (IT), wearable devices, tele health and telemedicine, and personalized medicine. Digital health platform brings the stakeholder in healthcare system such as patients, health care practitioners, researchers, medical device industry firms, and as mobile application developers (mHealth provider) more closely and makes whole healthcare system efficient.

Various advantage of digital health offers are that it reduce inefficiencies, improve access to healthcare services even to distant location, reduces healthcare costs, increases quality aspect of healthcare and make medicine more personalized and efficient for patients. Digital health platforms such as mHealth makes self-monitoring of health parameters by patient possible and at the same time remote monitoring this parameters by health care provider

The global digital health market size was valued at US$ 85.0 Billion in 2017 and is expected to witness a CAGR of 23.8% over the forecast period (2018–2026).

Digital health is a new age platforms that deals with prime focus on consumer centric healthcare approach which results in efficient and quality healthcare at much lesser cost than traditional healthcare ecosystem. It is broad term that covers various aspects of healthcare ecosystem bind together with thread of digital mediums in order to provide most handy health care service with ease of access to all stakeholders. It covers various stakeholders of healthcare ecosystems such as healthcare provider, patients, payer, pharmaceutical companies and other new stakeholders such as information and technology companies. Overall digital health covers diagnosis, treatment, consultation and long term care services at economy of cost with greater access than old location based system of healthcare

Various combinations of factors makes market for digital health a lucrative. Larger number of population crossing age 60 and above worldwide leads to higher requirement of healthcare needs with more emphasis on long term care and chronic disease care. Developed markets such as U.S. and Europe are especially witnessing higher number of population 65 and above. According to the U.S. Census Bureau’s report of 2017, there were 47.8 million people aged 65 years and older in the U.S. in 2015 accounting for 14.9% of the total population, a 1.6 million increase from that in 2014. Europe is currently having highest 65 years and above age population which is 25% of entire population according to the Population Prospect Report of the United Nations published in 2017. Tele Care and Tele Medicine are important digital health platform for this population as they don’t have to take efforts of visiting physician in person. Another important factor for growth of the digital health market would be high technological penetration in the digital health domain. For instance, cloud based electronic medical record which could be shared amongst entire healthcare stakeholders would make entire health operation smooth and efficient.

Higher penetration of smartphone, digital technology across the globe to be an important driver for the digital health market growth

Increased user base of smartphones and tablets across globe especially in the developing countries would lead to higher adoption of digital health platform. According to statistics provided by the Pew Research Centre in 2016, 72% population of the U.S. has smartphone access, around 59% of Chinese population and around 45% of Indian population possess smartphone. The number of internet users in India is expected to reach 450-465 million by 2020 as per estimation of the Internet and Mobile Association of India in 2017. This is important market trend as mHealth platform could directly get influenced with higher penetration of smartphones.

Various fitness apps, health apps and health appointment consultation would see rising prospects with higher mobile and internet user base. Platforms such as online pharmacy would also witness upward market growth. Shortage of healthcare providers worldwide would lead higher utilization of digital health platform.

Ask for customization @ https://www.coherentmarketinsights.com/insight/request-customization/1909

There is expected to be shortage of nurses and physicians in the near future, according to study in 2017 by Association of American Medical Colleges. The U.S. would have a shortage of between 40,800 and 104,900 physicians by 2030, which would create need to adopt digital health platform such as tele medicine, tele care and health information systems such as e-prescription etc.

The key players operating in the global digital health market are Allscripts Health Solutions, Inc. McKesson Corporation, Cerner Corporation, Siemens Healthineers, GE Healthcare, Koninklijke Philips N.V., Qualcomm Inc., Proteus Digital Health, Inc.,Truven Health Analytics Athenahealth, Inc. and Cisco Systems.

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com

This release was published on openPR.