Digital Health Market 2019-2025| Competitors, Business Strategy and Key Players Analysis- Cerner Corporation, AT & T, Inc., Qualcomm, Inc., Cisco Systems, Inc., Athena Health, Inc., Philips Healthcare, Biotelemetry, Inc., Lifewatch AG, McKesson Corporatio

Industry Trend Analysis

The digital health market is estimated to be around 382 billion by 2025. Digital health is the convergence of digital technologies with healthcare. It facilitates speedy collection of relevant data and in turn the improvement of healthcare services. The global digital health market is rapidly expanding due to high penetration of mobile devices and internet connectivity all over the world. More than one third of the global population is estimated to own a smartphone by 2017. Innovations in technology enabled wearable health monitoring devices have propelled the digital health market to new heights. Integration of medical devices with smartphones has facilitated real time tracking of health parameters from distant locations. Remote monitoring services facilitating patient monitoring from a remote location is set to further drive the demand for digital health devices.

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Key players operating in this market are Cerner Corporation, AT & T, Inc., Qualcomm, Inc., Cisco Systems, Inc., Athena Health, Inc., Philips Healthcare, Biotelemetry, Inc., Lifewatch AG, McKesson Corporation, and eClinicalWorks.

Product Outlook and Trend Analysis

The electronic health records (EHR) and e-prescription were the largest selling products in 2016. EHR segment witnessed substantial growth due to government initiatives and rise in investments for the development of innovative products. mHealth market is expected to register highest growth rate due to increase in smartphone sales and increased adoption of mobile communication technology. Cost effectiveness provided by mobile devices to monitor health related parameters has also driving the market growth. Low cost and high value applications of digital health products have resulted in their adoption at a fast pace globally. Health analytics product segment is expected to show consistent growth in the forecast period as they reduce the healthcare costs and incorrect diagnosis.

Regional Outlook and Trend Analysis

North America dominated the global digital health market in 2016, due to various programs adopted by different organizations (such as American Health Information Community and the American Orthopedic Society for Sports Medicine)offering sports medicine fellowships for conducting research to develop innovative products. Due to the adoption of HITECH act in 2009, the U.S. has witnessed tremendous advancements in digital health innovations. The European market is an attractive segment for the global players due to increasing number of chronic disorders in this region. Germany has seen a substantial growth in digital health market. In 2015, the E-Health Law was approved in Germany to improve the interoperability in different healthcare IT systems. Due to increasing geriatric population, Europe and China hold attractive opportunities for growth of digital health products.

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Competitive Analysis

The major players in the digital health market focus on continuous innovation to bring new and advanced products in the market and stay ahead of the competition. Also, strategic alliances between the major players keep them above their competitors. New York City Economic Development Corporation (NYCEDC) has announced their 2017 digital health initiative to award 250,000 to top startups in digital health to encourage new startups to innovate and grow. Such initiatives will further drive the competitive forces to be more innovative.

Market Opportunities

Digital health offers more advanced and efficient healthcare services than traditional one. Increasing demand for advanced healthcare information systems propose lucrative opportunities for the expansion of digital health market. Remote monitoring services are changing the way health monitoring was perceived traditionally. The home healthcare segment also has enormous scope for the development of advanced innovative products with a rising demand for these products globally. Health analytics is a rapidly growing segment which is expected to see consistent innovations backed by investments from governments as well as large market players.

Digital Health Market Segmentation:

By Technology:
Telehealthcare
Telecare
Remote Medication Management
Activity Monitoring
Telehealth
Video Consulting
LTC Monitoring
mHealth
Wearables
Pulse Oximeters
Sleep apnea Monitors
BP Monitors
Glucose Meters
Neuromonitors

Apps
Fitness Apps
Medical Apps
Health Analytics
Digital Health Systems
E-prescribing Systems
Electronic Health Records (EHR)

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By Region:
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe

Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific

Rest of the World
Brazil
South Africa
Saudi Arabia
Turkey
United Arab Emirates
Others

Some of the key questions answered by the report are:

What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?

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