Digital Health Market PESTEL Analysis, SWOT Analysis, CAGR 21.7 % and Value Chain Study to 2027 | Koninklijke Philips N.V., McKesson Corporation, and Cerner Corporation,

Report Ocean releases its latest report on the global Digital Health Market. A combination of information gathered from first-hand sources, qualitative and quantitative assessments of industry analysts, and insights from experts and participants across the value chain is used to calculate the global Digital Health Market.

The Global Digital Health Market was worth USD 120.2 Billion in 2020 and is further projected to reach USD 480.1 Billion by 2027, at a CAGR of 21.4 % during the forecast period (2021-2027). 

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Growth Factors:

Surging Adoption of Cloud Computing in Digital Health Prominent Market

One of the biggest trends recently witnessed in the digital healthcare market is the soaring adoption of cloud computing. Cloud computing in healthcare surges the efficiency of the industry while reducing costs. Cloud computing also makes medical record sharing more accessible and secure, automates back-end operations, and simplifies the development and maintenance of telehealth apps. Improving patient outcomes, increased efficiency, and cost control will continue to be the ultimate factors driving forces behind the healthcare industry's shift to the cloud.

Growing Usage of Tablets and Smartphones raising Digital Health Adoption Rate

Mobile devices and healthcare apps allow patients to become more active with their health care regimen. Digital healthcare applications enable patients to communicate more effectively with doctors and be more aware of their overall health. For example, patients nowadays are increasingly using their mobile devices like health trackers. Also, they are using their mobile devices for health management, checking symptoms, accessing medical helplines, and communicating with their healthcare provider.

Mobile devices also help doctors and nurses to keep accurate records of patients and their medicines. The errors caused by handwritten notes are minimized by digitized documents. Apps can be used to perform computerized drug tests, which has proven to be extremely beneficial to healthcare providers.

The reports include an in-depth analysis of macroeconomic indicators, market trends, and underlying factors, as well as market attractiveness by segment. The reports include a qualitative impact map of different market factors. COVID-19 (Corona Virus) had an impact on the product industry chain based on upstream and downstream markets, on regions and countries, and the future development of the industry.

The reports on the Global Digital Health Market provide readers with a better understanding of the market and competitive landscape to support better decision-making. Report contents include an overview of participants, revenue results, sales volume, gross margin, capital investment, and global Digital Health Market growth rates.

Researchers gather and validate the market size and demand information with market experts. They also examine the geographical distribution of the Digital Health Market. Top manufacturers, distributors, traders, and dealers use these market studies to gain insights into the industry. It will provide an overview of the product, the market, the driving forces, the risks and opportunities, and the research findings.

Impact Analysis of COVID-19

A detailed study of Covid-19 impacts the Digital Health Market is provided in the report.

The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Digital Health Market segments.

While the death toll continues to climb, the economic damage is already evident, making this the world's worst economic shock in decades.

Chaos can lead to several undesirable outcomes, including restaurant closings, flight cancellations, travel restrictions, indoor event venues losing permits, customer confidence eroding, stock markets fluctuating, and citizens becoming anxious.

The report extensively examines the fundamental aspects of the Global Digital Health Market, including its future prospects and competitive landscape. The Porter's Five Forces analysis of the Digital Health Market provides insight into the factors influencing its growth. This market study breaks down the Digital Health Market into segments, regions, and players in order to present an accurate picture of the current market environment. The study also includes macroeconomic and microeconomic analyses. Several graphs and charts appear in the report effectively.

Regional Overview

An analysis of the Digital Health Market at the country level looks at segments classified as potentially high-growth, countries with the largest market share, and countries with the best growth prospects. Among the regional breakdowns in the Digital Health Market study are North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), Other countries.

Leading Competitors

The leading prominent competitors in the global Digital Health Market are:

 Allscripts Healthcare Solutions Inc, BioTelemetry, Cisco Systems, Honeywell International Inc., Koninklijke Philips N.V., McKesson Corporation, and Cerner Corporation, CureMD Healthcare, HiMS, Computer Programs and Systems, Inc., Vocera Communications,IBM Corporation (IBM Watson Health), Siemens Healthcare GmbH and other key manufacturers. 

Scope of the Report

The global Digital Health Market segmentation focuses on:

By Technology

§  Tele-healthcare

o    Telecare

ü  Activity Monitoring

ü  Remote Medication Management

o    Telehealth

ü  LTC Monitoring

ü  Video Consultation

§  Mobile Health

o    Wearables

ü  BP Monitors

ü  Glucose Meter

ü  Pulse Oximeter

ü  Sleep Apnea Monitors

ü  Neurological Monitors

o    Apps

ü  Medical

ü  Fitness

§  Health Analytics

·         By End User

§  Hospitals

§  Clinics

§  Individuals

·         By Component

§  Hardware

§  Software

§  Services

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This release was published on openPR.