Digital Health Market to Etch New Growth Ratios with Adoption in Developing Economies till 2026 | Estimated By Global Key Players Like Siemens Healthineers, GE Healthcare, Cisco Systems, Allscripts Health Solutions, Inc. McKesson Corporation, etc.

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.

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Market Dynamics:

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.

Increase in aging population, prevalence of chronic diseases and need for continuous monitoring would propel growth for the digital health market

Population across globe is slowly observing growth in median age with higher number of people crossing age bracket of 60 and above. According to the Population Prospects Report of United Nations published in 2017, in 2017, there are an estimated 962 million people aged 60 or over in the world (13 per cent of the global population). The population aged 60 or above is growing at a rate of about 3 per cent per year and it would reach to 1.4 billion by the year 2030. Such high number of aging population would be immensely benefitted with digital health platform such as tele care and tele medicine in which remote diagnosis and remote monitoring is possible.

Increased prevalence of the chronic disease and need for continuous monitoring would be another important driver for positive outlook of the digital health market during the forecast period. According to the World Health Organization data in 2017, around 40 million people die each year due to chronic disease, which accounts for 70% of all deaths globally. Cardiovascular diseases is responsible for 17.7 million death annually, followed by cancers (8.8 million deaths), respiratory diseases (3.9million deaths), and diabetes (1.6 million deaths).

Global Key Players:

• 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.
• Cisco Systems

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Detailed Segmentation:

Global Digital Health Market, By Technology Platform:

• Tele health
• Tele Medicine
• Tele Care
• mHealth

Digital Health Information Systems:

• EMR/HER
• Clinical Decision Support System (CDSS)
• Computerized Physician Order Entry (CPOE)
• Others

Diagnostic and Monitoring Devices:

• Therapeutic Devices
• Digital Medicine
• Respiratory Therapy Devices
• Insulin Pumps
• Others

Global Digital Health Market, By End Users:

• Business to Consumers
• Business to Business

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This release was published on openPR.