Digital Health Market Was Valued at USD 220.9 Million in 2021 Owing to Increased Prevalence of Smartphones

According to Precision Business Insights (PBI) latest report the global digital health market is valued at USD XX million in 2021. The global digital health market is segmented into the following types: By Technology (Tele Healthcare, mHealth, Healthcare Analytics, and Digital Health Systems), By Component (Hardware, Software, and Services), and Geography (North America, Europe, Asia-Pacific, Latin America, and MEA) Forecast to 2028. Key players' profiles in the digital health market report are Allscripts Healthcare, LLC, McKesson Corporation, Telefonica S.A., Orange Health Digital, Qualcomm Technologies, Inc., TELUS, Koninklijke Philips N.V., Apple Inc., Vodafone Group. The increased awareness among people regarding various prominent diseases prevalent in their regions is the crucial driver that fuels the growth of this market. Innovations, particularly in the digital sphere, are driving the development of the global digital health market. Patient data security concerns and costly capital expenditure and maintenance requirements will limit market expansion.

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mHealth segment Dominates the Digital Health Market:
The mHealth segment is predicted to contribute the most revenue in the digital health market. The mHealth market was worth USD x billion in 2021. Due to government health insurance programs and increased consumer technologies such as smartphones and tablets that allow individuals to capture their own health, the category grew at a significant rate over the anticipated years. Medical providers use mobile health to diagnose, treat, monitor, and educate patients, resulting in higher patient participation, better health outcomes, and lower costs.

North America Leads Digital Health Market:
Because of government backing for mHealth start-ups, developments in healthcare information technology, and growing smartphone scales, North America accounted for a considerable proportion of the digital health market in 2021. In addition, due to an increase in R&D investments by major players, increasing healthcare infrastructure, and growing activities by public and private organizations, Asia-Pacific will be the second-largest shareholder.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
Global Digital Health Market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In April 2022, McKesson Corporation announced that it has closed the transaction announced in November 2021 to sell its UK businesses to AURELIUS. This is another important step in advancing McKesson's commitment to streamline the business and fully exit the European region. In July 2021, TELUS International acquires Playment, firmly staking its leadership in the global data annotation market, this Acquisition strengthens TELUS International's ability to meet growing demand for diverse datasets that power artificial intelligence.

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Digital Health Market Detailed Segmentation:
Based on the Technology, the market is segmented into the following:
• Tele Healthcare
• mHealth
• Healthcare Analytics
• Digital Health Systems

Based on the Component, the market is segmented into the following:
• Hardware
• Software
• Services.

Based on the geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

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