Digital Health Market Bridging the Gap: Digital Health as a Solution for Healthcare Delivery in Developing Countries

Digital Health Market

Digital Health Market to reach over USD 1004.03 billion by the year 2031 - Exclusive Report by InsightAce Analytic

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Digital Health Market Size, Share & Trends Analysis Report by Technology (Tele-healthcare, mHealth, Healthcare Analytics, Digital Health Systems), By Component (Software, Hardware, Services)- Market Outlook And Industry Analysis 2031"

The global digital health market is estimated to reach over USD 1004.03 billion by 2024- 2031, exhibiting a CAGR of 19.07% during the forecast period.

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Digital Health: A Path to Improved Healthcare Delivery in Developing Countries
Developing countries face significant challenges in healthcare delivery, including limited access, affordability, quality, and safety. A new digital health model can be crucial in overcoming these obstacles. Resource scarcity, particularly in rural regions, has severely restricted healthcare services in many developing economies.

However, there's a growing market for digital health solutions driven by several key factors:
• Increasing smartphone use
• Improved internet access due to 4G and 5G rollouts
• Advancements in healthcare IT infrastructure
• Rising need to control healthcare costs (making digital health adoption more urgent)
• Increased prevalence of chronic diseases
• Enhanced virtual care capabilities
Leading companies are also focusing on developing user-friendly applications to improve the overall user experience.

Despite these advancements, concerns around cybersecurity are escalating with the proliferation of smart devices and fast internet access in healthcare. The rise of hacking and personal data breaches using connected devices is a worrying trend. Data security anxieties regarding healthcare information hinder large-scale implementation by governments, healthcare organizations, and healthcare professionals.

List of Prominent Players in the Digital health Market:

• Samsung Electronics Co. Ltd
• Siemans Healthcare AG
• Softserve; MQure
• Telefonica S.A
• Vocera Communications
• Vodafone Group
• Qualcomm technologies, Inc.
• AdvancedMD Inc.
• Airstrip Technologies
• Allscripts Healthcare Solutions Inc
• Apple Inc
• AT & T
• Athenahealth Inc.
• BioTelemetry Inc
• Cerner Corporation
• CISCO Systems, Inc
• Computer Programs and Systems, Inc
• eClinicalWorks
• Epic Systems Corporation
• General Electric company
• Google, Inc
• HiMS
• Honeywell International Inc
• IBM Corporation
• iHealth Lab Inc
• Koninklijke Philips N.V
• Mckesson Corporation
• Orange
• QSI Management, LLC
• Qualcomm Technologies, Inc

Market Dynamics:
Drivers-
The market is growing due to developments in the health IT sector and rising healthcare expenses, which have sharply increased demand for digital well-being. Digital health is the application of information technology and electronic communications for various medical processes to enhance people's well-being. The industry has grown due to the quick adoption of cutting-edge technology, including wearables, mHealth Apps, orally delivered sensors, and artificial intelligence.

The demand for technology is also rising due to strong government support and the creation of regulations that encourage the use of digital solutions. The usage of electronic intensive care units (e-ICUs), which permit remote patient monitoring via monocular cameras, high-speed broadband, and electronic equipment, is endorsed by governments worldwide.

Challenges:
Growth in data security issues, such as breaches and illegal access to IT systems, could, however, restrain the expansion of the digital health market in the years to come. Security issues with patient data could hamper the market value. The development of the digital health business may need to be improved by a global shortage of qualified IT workers in the healthcare industry.

According to some analysts, the healthcare sector's shortage of qualified healthcare IT personnel continues to worsen. Additionally, the lack of universal health insurance, which makes people hesitant to use cutting-edge technologies, is largely to blame for the need for understanding surrounding digital health practices. However, the financial limitation continues to be one of the primaries.

Regional Trends:
The North American digital health market is expected to register a major market share in revenue and is projected to grow at a high CAGR soon. One of the first regions to adopt intelligent quality healthcare in North America. This includes a range of technologies like smartphone apps, wearable electronics, and telemedicine & eHealth services for remote access to information on serious & chronic medical illnesses.

The industry is expanding as a result of factors like the quick uptake of mobile phones, improvements in coverage networks, an increase in the prevalence of chronic diseases, an increase in the number of older adults, rising health care costs, a severe shortage of primary caregivers, and a growing demand for better chronic condition prevention and care. Besides, Asia Pacific had a substantial market share due to the developed economy and growing product adoption. The region's expanding eHealth network penetration and rising health spending are anticipated to fuel the expansion of these services. Government investment in healthcare is predicted to enhance demand for remote patient monitoring and fuel the industry growth in the Asia Pacific region.

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Recent Developments:
• In January 2022 -A state-of-the-art AI platform was developed by Treatment.com International Inc. to enable better healthcare decisions made by patients and caregivers around the world. The firm announced the global debut of the much-awaited Treatment Digital Health App, which is now available on the Apple App Store.

• In March 2022-DeliverHealth, a global provider of technology-enabled solutions for hospitals, and group practices, launched its partner program to bring together disparate healthcare point solutions and pave the way for vital, dependable connections between providers, clinicians, and patients. The platform enables easy access, efficient workflows, and human-in-the-loop flexibility to implement purpose-built, explainable AI that quickly generates value.

Segmentation of Digital Health Market-
By Technology
• Tele-healthcare
o Tele-care
 Activity Monitoring
 Remote Medication Management
o Telehealth
 LTC Monitoring
 Video Consultation
• mHealth
o Wearables
 BP Monitors
 Glucose Meters
 Pulse Oximeters
 Sleep Apnea Monitors
 Neurological Monitors
 Activity Trackers/ Actigraphs
o mHealth Apps
 Medical Apps
 Fitness Apps
o Services
 mHealth Service, By Type
• Monitoring Services
o Independent Aging Solutions
o Chronic Disease Management & Post-Acute Care Services
• Diagnosis Services
• Healthcare Systems Strengthening Services
• Others
 mHealth Services, By Participants
• Mobile Operators
• Device Vendors
• Content Players
• Healthcare Providers
• Healthcare Analytics
• Digital Health Systems
o EHR
o E-Prescribing Systems

By Component
• Software
• Hardware
• Services
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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