Recent News Stories Shows How The Digital Health Market Products Are Surviving In The Global Industry To 2028?

Report Overview

Digital Health Market size in Germany was valued at more than USD 11 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of XX.X% from 2019 to 2028.

Telemedicine consultations which were not permitted under the German healthcare laws until 2018 are not only permitted but also promoted. Apart from the promotion, Telemedicine services are also reimbursed under the state health insurance agency, whose services approximately 90% of the German populace avail. Hence, an increasing number of market players are focusing on the introduction of digital healthcare solutions in Germany.

Market Driving & Restraining Factors

Market Growth Drivers:

Growing Adoption of Telemedicine and mHealth: - The increasing acceptance of various technologies such as mHealth and telemedicine by the German population is expected to boost the expansion of digital health platforms. Moreover, favorable reimbursement policies for digital health solutions will simultaneously create opportunities for the market.

Increasing Awareness on New Technologies: - The increasing awareness about various advantages of new technologies in healthcare such as greater accessibility, efficient treatment, disorder management, and cost-effectiveness will have an excellent effect on the market during the forecast period. Also, the emerging number of companies in healthcare will favor the healthy growth of the market.

Developments in Legislature to boost Digital Adoption: - Apart from supporting the greater adoption of telemedicine, and mHealth, the law also makes important provisions for electronic health records (EHR).

Covid-19 Factor: - Large number of patients with chronic diseases will stimulate the demand for remote monitoring solutions. As the COVID-19 pandemic has forced the hospitals to triage the patients, there will be a growing adoption of remote monitoring solutions to ensure the health of patients with chronic conditions. Furthermore, patients with chronic conditions and geriatric individuals are more susceptible to coronavirus infection. Thus, caregivers will prefer remote monitoring of these patients to avoid exposure and improve patient quality of life, augmenting the digital health market growth.

Restraining Factors:

Data Privacy Concerns: - Patients Data privacy is the concern that led to the adoption of smart healthcare as an equivalent and appropriate substitute for conventional treatment in several diseases.

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Major Players

The German market depicts a competitive scenario that includes the presence of established players in the market such as GE Healthcare, and Siemens to emerging domestic market players such as InterComponentWare (ICW), eGym, Ada, Clue, and Freeletics. In the telemedicine market, indigenous players like Aerotel Medical Systems Ltd, Koninklijke Philips N.V. are competing with major foreign players like established foreign players like Cisco Systems.

Digital Health Funding and Start

Under the Hospital Future Act (KHZG), which came into force in September 2020, public hospitals will receive a share of €4.3 billion for digital health innovation.

The German federal government (Bundestag) will make €3 billion available to the KHZF through the liquidity reserve of the health fund with an additional €1.3 billion to be provided through co-funding by the federal states and hospitals operators themselves. At least 15% of the funding requested must be used to improve IT security.

Few Medical and healthcare start-ups in Germany are:

• CureVac. Funding: $1.1B
• BioNTech. Funding: $741.9M
• MorphoSys. Funding: $253.6M
• Freeletics. Funding: $70M
• Ada Health. Funding: $69.3M
• Kaia Health. Funding: $55M
• Retina Implant AG. Funding: $46.3M
• Amboss. Funding: €35M

The Digital Health Market 2023 Report makes available the current and forthcoming technical and financial details of the industry. It is one of the most comprehensive and important additions to the Prudent Markets archive of market research studies. It offers detailed research and analysis of key aspects of the global Digital Health market. This report explores all the key factors affecting the growth of the global Digital Health market, including demand-supply scenario, pricing structure, profit margins, production, and value chain analysis.

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Digital health market in Germany has been segmented:

By Products and Services:

With the procurement and maintaining of provided products and services, the digital health market is segmented further. They are:

Electronic Health Record
Smart Medication Delivery
Telemedicine
RFID Systems
mHealth

In Germany, the Telemedicine segment held a dominant 36% share of the market in 2019. The dominance is due to the greater adoption of telemedicine by the general population coupled with the favorable regulatory changes in German digital health law. The mHealth segment is projected to be the second most dominant segment and the fastest-growing segment owing to a strong usage of healthcare applications on mobile devices.

By End Users:

The German market is further segmented by the type of end-user the segment is catering for. A few of the End Users are:

Hospitals & ASCs
Biotechnology and Pharmaceutical Companies
Diagnostic Centres
Academics Centres

The hospitals & ASCs segment is anticipated to have the highest share in the market during the forecast period. This dominance is attributable to strong numbers of hospitals and ASCs in Germany, coupled with the strong usage of digital healthcare solutions in these institutions.

By Applications:

Digital health caters for varied applications such as:

Health data storage
Monitoring and treatment
Inventory management

The Monitoring and treatment segment primarily dominates the market because of extensive new product launches in this segment, coupled with greater adoption of these technologies. Health data storage is the second most dominant segment because of its extensive usage across all types of healthcare institutions such as hospitals.

By Regional Clusters:

Health Hubs & Accelerators
Non-Health Specific Hubs & Accelerators
Clinical Infrastructures Supporting Start-Ups

Major Players

The German market depicts a competitive scenario that includes the presence of established players in the market such as GE Healthcare, and Siemens to emerging domestic market players such as InterComponentWare (ICW), eGym, Ada, Clue, and Freeletics. In the telemedicine market, indigenous players like Aerotel Medical Systems Ltd, Koninklijke Philips N.V. are competing with major foreign players like established foreign players like Cisco Systems.

Digital Health Funding and Start

Under the Hospital Future Act (KHZG), which came into force in September 2020, public hospitals will receive a share of €4.3 billion for digital health innovation.

The German federal government (Bundestag) will make €3 billion available to the KHZF through the liquidity reserve of the health fund with an additional €1.3 billion to be provided through co-funding by the federal states and hospitals operators themselves. At least 15% of the funding requested must be used to improve IT security.

Few Medical and healthcare start-ups in Germany are:

• CureVac. Funding: $1.1B
• BioNTech. Funding: $741.9M
• MorphoSys. Funding: $253.6M
• Freeletics. Funding: $70M
• Ada Health. Funding: $69.3M
• Kaia Health. Funding: $55M
• Retina Implant AG. Funding: $46.3M
• Amboss. Funding: €35M

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The report covers the competitive analysis of the market. As the demand is driven by a buyer's paying capacity and the rate of item development, the report shows the important regions that will direct growth. This section exclusively shares insight into the budget reports of big-league members of the market helping key players and new entrants understand the potential of investments in the Global Digital Health Market. It can be better employed by both traditional and new players in the industry for complete know-how of the market.

Strategic Points Covered in Table of Content of Global Digital Health Market:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Digital Health market
Chapter 2: Exclusive Summary - the basic information of the Digital Health Market.
Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Digital Health
Chapter 4: Presenting the Digital Health Market Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.
Chapter 5: Displaying the by Type, End User and Region/Country
Chapter 6: Evaluating the leading manufacturers of the Digital Health market which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile
Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions
Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

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