Top Key Players Operating In the Digital Health Market 2023 - Qualcomm Incorporated, Cerner Corporation, eClinicalWorks LLC, Epic Systems Corporation, McKesson Corporation, Cisco Systems Inc., and AT&T Inc

Global digital health market is expected to attain a size of $223.7 billion by 2023. The market is mainly driven by the increasing penetration of smart phones and tablet users, growing need for remote patient monitoring services, and increasing demand for advanced healthcare information systems.

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On the basis of technology, the digital health market has been categorized into mHealth, electronic health record (EHR), telemedicine, and healthcare analytics. Amongst all, the mHealth market is expected to witness fastest growth during the forecast period, attributed to the increasing number of health awareness programs. For instance, according to a research study conducted by F. Hoffmann-La Roche AG and Daman – U.A.E’s National Health Insurance Company, there were 325,000 health apps available in 2017, and approximately 3.6 billion apps were downloaded by the users in the same year across the world.

Further, the mHealth market is sub-categorized into connected devices, mHealth apps, and services. Among the varied mHealth product and services, the connected devices category dominated the global mHealth market during the historical period, with a contribution of 57.2% in 2017; whereas, mHealth apps is expected to be the fastest growing category in this market, witnessing a CAGR of 38.9% during the forecast period.

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The companies operating in the digital health industry are acquiring other firms and establishing their presence in different economies to increase their market share. For instance, in May 2018, Allscripts Healthcare Solutions Inc. acquired HealthGrid Holding Company (HealthGrid), a provider of mobile, enterprise patient engagement solutions, to integrate HealthGrid’s capabilities into its FollowMyHealth platform. The acquisition aimed at leveraging existing patients’ contact information, connecting providers with patients, and facilitating patient outreach and engagement. Terms of the transaction were not disclosed.

In April 2018, the company also acquired the OneContent business to Hyland Software Inc., a provider of content services solutions to the healthcare industry and beyond. Allscripts acquired the OneContent business in late 2017 through the acquisition of McKesson’s Enterprise Information Solutions (EIS) portfolio. Terms of transaction were not disclosed.

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Some of the other key players in the digital health industry are Qualcomm Incorporated, Cerner Corporation, eClinicalWorks LLC, Epic Systems Corporation, McKesson Corporation, athenahealth Inc., General Electric Company, Koninklijke Philips N.V., Cisco Systems Inc., and AT&T Inc.

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