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Digital Health Market Report 2020: Witness a Sustainable Growth over 2027

04-15-2021 02:11 PM CET | Health & Medicine

Press release from: Research Dive

Digital Health Market

Digital Health Market

A newest report on the global digital health market has been added by Research Dive to its repository. The report presents thorough insights on the impact of COVID-19 pandemic on the present and forthcoming growth of the global industry, by scrutinizing important factors such as key drivers & limitations, newest trends & advances, regional market circumstances, and size & scope of the market in the course of the pandemic. The report reveals that the COVID-19 pandemic has made a significant impact on the market growth.

Factors Impacting the Market Growth during COVID-19 Pandemic

The global digital health market is estimated to observe significant growth and gather $1,045.8 million by 2027; this growth is mainly due to the rising adoption of digital health services to obtain real-time health information amidst the pandemic. The healthcare authorities are highly focusing on promoting telemedicine and remote medical monitoring to avoid spread of virus through direct contact with the patients.

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Highlights of the Report

The CAGR of the digital health market, as estimated before the outbreak of the COVID-19 pandemic, was 9% in the estimated period, 2019—2026.
The CAGR of the global industry, as expected post the rise of the COVID-19 pandemic, is anticipated to be 33.4% during the projected period, 2020—2027.
The size of the global digital health sector in 2020, as estimated before the beginning of the COVID-19 pandemic, was $127.5 billion.
The present market size (2020), bearing the after-effects of the COVID-19 pandemic, is $139.1 billion.
Checkout How COVID-19 impacts the digital health market.

Present Scenario of the Market due to COVID-19 Crisis:

Healthcare professionals are adopting digital health services for online consultation platform for chronic ailments, heart disorders, and COVID-19. As a result, some of the major players in the digital health industry are greatly investing in digital health technology products and services during the pandemic. For instance, in December 2020, Sensyne Health plc., a British clinical AI technology firm, launched GDm-Health, a remote monitoring solution for diabetes in pregnancy, in the U.S.

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Despite the pandemic crisis, the North America digital health market is projected to garner $360.8 million by 2027; mainly owing to the widespread usage of digital health services in this region due to rapid growth in the adoption of smart mobiles along with developments in coverage network systems. Moreover, Asia-Pacific region market is estimated to undergo speedy growth at a CAGR of 34.2% CAGR and bring in rewarding opportunities for market growth in the upcoming years. The growth of this region market is mainly owing to beneficial government initiatives to support developments in healthcare IT and growing implementation of mHealth services in this region.

Future Scope of the Industry:

According to the report, the global digital health market is projected to continue making significant developments after the end of COVID-19 disaster. New entrants and some of the foremost companies such as

CISCO
McKesson Corporation
Allscripts Healthcare, LLC
AirStrip
Google Inc.
Koninklijke Philips N.V.
BioTelemetry, Inc.
Honeywell International Inc.
Telefónica S.A.
Cerner Corporation, and
others are expected to build the future of the global digital health market in the upcoming years.

The report provides several approaches and tactics of the leading players functioning in the market such as the new product developments, latest strategic plans & approches, financial performance, product portfolio, and SWOT analysis. For instance, in December 2020, Novant Health, a four-state integrated network of physician clinics, outpatient centers, and hospitals, launched a digital health and engagement unit to manage virtual health care strategies as well as digital services.

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Research Dive
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About Us
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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