Press release
Revolutionizing Healthcare: Exploring Opportunities in the Digital Health Market
Digital Health Market
The digital health market size is expected to see rapid growth in the next few years. It will grow to $560.14 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to rising prevalence of chronic diseases, an aging population, demographic shifts in emerging markets, continued technology development, and increasing need for healthcare access will drive the growth in the digital health market. Major trends in the forecast period include augmented reality telecollaboration system, biofeedback apis, use of blockchain technology, 3d ar surgical navigation, integration of artificial intelligence, and increasing collaborations and partnerships.
Market Overview -
Digital health refers to the use of information technology/electronic communication tools, services, and procedures to provide healthcare services or to promote improved healthcare. Only goods and services traded between entities or sold to end consumers are included. Digital health provides digital health services for the smooth functioning of healthcare-related services.
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Addressing The Global Rise In Chronic Diseases Through Digital Health Solutions
The rising prevalence of chronic diseases such as cancer, diabetes, and hypertension is expected to be a major driver of the digital health market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases and leave people suffering from these diseases more vulnerable to chronic diseases, thus driving the need for digital health services platforms. According to a United Nations article, by 2030 the proportion of global deaths due to chronic diseases is expected to increase to 70% of total deaths. The global burden of chronic disease is expected to reach about 60%. Therefore, the rise in the prevalence of chronic diseases is projected to propel the growth of the market.
Competitive Landscape -
Major companies operating in the digital health market report are Cerner Corporation, GE Healthcare, Epic Systems Corporation, McKesson Corporation, Allscripts Healthcare Solutions Inc. Truven Health Analytics, Siemens Healthcare AG, eCLINICALWORKS, Cisco Systems Inc., Koninklijke Philips N.V., Innovaccer, Pharm Easy, 1mg, Practo, Mfine, Medi Buddy, Indegene, Ping A Good Doctor, JD Health, Honeywell Lifesciences, Philip Healthcare, Better Doc, Biovotion, BrainControl, Coimbra Genomics, Dacadoo, Doctoralia, Emperra, Exovite, Genexyx, Giraff, Healthbank, NeurNation, Nutrino, Psious, Px Healthcare, SilverCloud, Systems Healthcare Solutions, TrialReach, XtremeVRI, DOC+, Best Doctor, TeleMD, mediSensum, Apteki +, FindMeCure, ECG for Everybody, Eye read, InterAxon, Figure 1, Myndtec, Seamless MD, ApoloHealthMx, ECGlove, Heal on Site, Teladoc, MeMD, Amwell, MDlive, Aerotel Medical Systems Ltd, Care Innovations LLC, Honeywell Life Care Solutions, Polycom Inc, Didoc, Betterfly, Deenty, Examedi, Dentalink, Cero, Wecancer, MedPass, Pixeon, Hi Technologies, Conexa Saude, AXON Digital Health, Wuru, Yerbo, Welii, BioScience, Caecus, Omnia Salud, Altibbi, Dhoner Healthtech, Okadoc, DoctorsAE, Takalam, AlemHealth, DU, UAE's Mulk, Cura, Primary Health Care Corporation, AMD Global Telemedicine Inc, Safermom, Mobicure, Ubenwa, Medsaf, GenRx, Medical device as a service, Kangpe, Hudibia, Lifebank, Redbank
Augmented Reality Telecollaboration Systems Transform The Digital Health Landscape
The use of augmented reality telecollaboration systems is a key trend gaining popularity in the digital health market. Augmented reality (AR) is an enhanced version of the real physical world that is achieved through the use of digital visual elements, sound, or other sensory stimuli delivered via technology. Augmented reality in the healthcare sector is being used by both trained medical professionals as well as in training medical students or during their education to illustrate and teach medical experience in a safe, economical, and comprehensive way. For instance, in August 2021, OpticSurg, a US-based provider of an augmented reality software platform intended to help surgeons in treatment procedures, launched an augmented reality telecollaboration system, named Vision Beyond. It helps in connecting frontline healthcare workers with consulting clinicians in real time. The system is securely encrypted, and HIPAA-compliant which allows remote clinicians to provide audio and visual direction, broadcasting live voice calls and displaying a digital interface and visuals through the glasses to aid the on-site provider. It also allows on-demand access to experts who can potentially provide informed and clear support during a consultation.
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Key Segments -
The digital health market covered in this report is segmented -
1) By Technology: Mobile Health (Mhealth), Health Information Technology, Telehealth And Telemedicine, Health Analytics, Other Technologies
2) By Application: Cardiology, Diabetes, Neurology, Sleep Apnea, Oncology, Other Applications
3) By End-User: Healthcare Providers, Healthcare Payers, Pharmaceutical Companies, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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