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Digital Health Market Estimated at US$ 1.1 Trillion by 2031, TMR Study

03-28-2024 06:08 AM CET | Health & Medicine

Press release from: Transparency Market Research

Digital Health

Digital Health

In 2022, the worldwide ๐ƒ๐ข๐ ๐ข๐ญ๐š๐ฅ ๐‡๐ž๐š๐ฅ๐ญ๐ก ๐ข๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ garnered a valuation of US$ 382.5 billion. Projections indicate a steady growth trajectory, with a compound annual growth rate (CAGR) of 13.1% anticipated from 2023 to 2031, ultimately culminating in a total valuation of US$ 1.1 trillion by the conclusion of 2031.

Market analysts foresee a promising outlook characterized by the burgeoning prevalence of chronic diseases and the increasing adoption of smartphones and internet connectivity. These factors are expected to drive the expansion of the digital health market throughout the forecast period. Moreover, advancements in healthcare IT infrastructure are poised to create lucrative opportunities for vendors operating within the market landscape.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐๐ƒ๐…:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=12473&utm_source=OpenPR&utm_campaign=MansiR_OpenPR

Digital health encompasses the utilization of wearable technologies, telehealth, telemedicine, mobile health (mHealth), health information technology (IT), and personalized medicine. It relies on a variety of computing platforms, networking software, and sensors to facilitate healthcare services. These technologies find application in areas such as general wellness, medical equipment, diagnosis, and the advancement of drugs and medical devices.

At its core, digital health solutions are centered around healthcare information systems and wearable devices. Examples of healthcare information systems include Electronic Health Records (EHR)/Electronic Medical Records (EMR), Clinical Decision Support Systems (CDSS), Computerized Physician Order Entry (CPOE), and mHealth. Meanwhile, wearable devices encompass a range of tools such as pain management devices, rehabilitation devices, respiratory therapy devices, and insulin pumps.

๐‘๐ข๐ฌ๐ž ๐ข๐ง ๐๐ซ๐ž๐ฏ๐š๐ฅ๐ž๐ง๐œ๐ž ๐จ๐Ÿ ๐‚๐ก๐ซ๐จ๐ง๐ข๐œ ๐ƒ๐ข๐ฌ๐ž๐š๐ฌ๐ž๐ฌ ๐๐ซ๐จ๐ฉ๐ž๐ฅ๐ฅ๐ข๐ง๐  ๐ƒ๐ข๐ ๐ข๐ญ๐š๐ฅ ๐‡๐ž๐š๐ฅ๐ญ๐ก ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ

Rising prevalence of diabetes, cardiovascular diseases, and other chronic illnesses globally due to aging populations and poor dietary habits is driving growth in the digital health market. Chronic diseases, including cardiovascular diseases, are major contributors to global mortality rates, with millions of deaths annually. In the US alone, chronic diseases are the leading cause of death and disability, affecting nearly half the population. Investment in healthcare IT infrastructure, including AI and IoMT, is expected to fuel market expansion, although cost and cybersecurity risks remain significant challenges.

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ:

Agfa-Gevaert N.V., Cerner Corporation, Allscripts Healthcare Solutions, Inc., McKesson Corporation, Philips Healthcare, GE Healthcare, Siemens Healthineers, Epic Systems Corporation, Merative, Alphabet Inc., Qualcomm, Inc., UnitedHealth Group (Optum), and Cisco Systems, Inc.

๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง-

Product

Healthcare Information Systems
Clinical Solutions
EHR/EMR
Clinical Decision Support System (CDSS)
Computerized Physician Order Entry (CPOE)
mHealth
Connected Medical Devices
mHealth Applications
Fitness App
Medical Reference
Wellness
Medical Condition Management
Nutrition
Remote Consultation
Reminders and Alerts
Diagnostics
Others
Telehealth
Population Health Management
Others
Non-clinical Solutions

Wearable Devices

Diagnostic and Monitoring Devices
Digital Therapeutic Devices
Pain Management Devices
Rehabilitation Devices
Respiratory Therapy Devices
Insulin Pumps

Component

Software
Hardware
Services

End-user

B2C
Patients
Caregivers
B2B
Providers
Payers
Employers
Pharmaceutical Companies
Others

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ซ๐ข๐ฏ๐ž๐ซ๐ฌ ๐š๐ง๐ ๐‚๐ก๐š๐ฅ๐ฅ๐ž๐ง๐ ๐ž๐ฌ:

Drivers:

Rising prevalence of chronic diseases
Technological advancements in healthcare
Increasing demand for remote patient monitoring
Government initiatives to promote digital health solutions
Growing investments in healthcare IT

Challenges:

Data security and privacy concerns
Lack of interoperability among digital health systems
Reimbursement challenges for digital health services
Resistance to adoption among healthcare providers
Regulatory complexities across different regions

๐‘๐ž๐ ๐ข๐จ๐ง๐ฌ ๐‚๐จ๐ฏ๐ž๐ซ๐ž๐:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

๐Š๐ž๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ:

Inย June 2023, Medix Global launched Digital Health Innovation Challenge 2023 for start-ups and innovators creating cutting-edge digital health solutions. The challenge focuses on tech start-ups catering to healthcare issues linked to women's health and mental health.

Inย July 2021, Cerner Corporation collaborated with Baystate Health to introduce a digital health platform in order to integrate care delivery and financing systems for a more consumer-focused approach to patient care.

๐๐ฅ๐š๐œ๐ž ๐š๐ง ๐Ž๐ซ๐๐ž๐ซ ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:
https://www.transparencymarketresearch.com/checkout.php?rep_id=12473<ype=S&utm_source=OpenPR&utm_campaign=MansiR_OpenPR

๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ:

Adoption of artificial intelligence (AI) and machine learning in healthcare
Integration of blockchain technology for secure health data management
Expansion of virtual reality (VR) and augmented reality (AR) applications in healthcare
Emphasis on personalized medicine and precision healthcare
Growth of remote patient monitoring solutions for elderly care and chronic disease management

๐…๐ฎ๐ญ๐ฎ๐ซ๐ž ๐Ž๐ฎ๐ญ๐ฅ๐จ๐จ๐ค:

The future of the digital health market looks promising, with continued innovations in technology, increasing collaboration between healthcare providers and technology companies, and rising consumer acceptance of digital health solutions. The market is expected to witness substantial growth opportunities, particularly in emerging economies where there is a significant unmet need for healthcare services.

๐Š๐ž๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ญ๐ฎ๐๐ฒ ๐๐จ๐ข๐ง๐ญ๐ฌ:

Market size and growth projections
Market segmentation analysis
Regional dynamics and market trends
Regulatory landscape and policy implications
Competitive analysis and strategic initiatives

๐๐ซ๐จ๐ฐ๐ฌ๐ž ๐Œ๐จ๐ซ๐ž ๐‘๐ž๐ฉ๐จ๐ซ๐ญ๐ฌ ๐›๐ฒ ๐“๐Œ๐‘:

๐๐„๐“-๐‚๐“ ๐’๐œ๐š๐ง๐ง๐ž๐ซ ๐ƒ๐ž๐ฏ๐ข๐œ๐ž๐ฌ ๐Œ๐š๐ซ๐ค๐ž๐ญ-ย https://www.globenewswire.com/news-release/2022/10/07/2530323/0/en/PET-CT-Scanner-Devices-Market-Revenue-Share-and-Profit-Sources-Analysis-TMR-Study.html

๐’๐ญ๐ฎ๐ ๐–๐ž๐ฅ๐๐ข๐ง๐  ๐Œ๐š๐œ๐ก๐ข๐ง๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ-ย https://www.globenewswire.com/news-release/2022/10/10/2530819/0/en/Stud-Welding-Machine-Market-Estimated-at-US-1-69-Billion-by-2031-TMR-Study.html

๐€๐›๐จ๐ฎ๐ญ ๐“๐ซ๐š๐ง๐ฌ๐ฉ๐š๐ซ๐ž๐ง๐œ๐ฒ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

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