Digital Health Market share to reach $379bn by 2024: Fractovia.org
The research report on “Digital Health Market Size By Technology [Telehealthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitor, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitor, Neurological Monitor), Apps (Medical, Fitness)}, Digital Health System (EHR, eprescribing System)], Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Spain, Italy, Russia, Poland, Japan, China, India, Australia, Brazil, Mexico, South Africa), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024”, by Global Market Insights, Inc., Digital health market size is estimated to register an annual growth rate of 25.9% over the period of 2016-2024. Realization of the core roles that digitization and Internet of Things together can play in digital health market will bring about interesting business dynamics to watch for. Digital health industry is gaining impetus as it is providing cost-effective solutions to the large patient pool worldwide. Expensive advanced treatments, increase in number of visits to hospitals, and independently living geriatric population will prompt large population to opt for digital health technology over the traditional approach. Rise in use of smartphones, tablets, and other mobile platforms is set to fast-track the growth of digital heath market over the coming seven years.
Electronic health records (EHR) is dominating digital health industry as these devices allow seamless flow of patients’ information in real-time. EHRs hold patients’ medical history and treatment record which further helps in extracting valuable information pertaining to their health. EHR market is anticipated to surpass USD 116 billion growing at a CAGR of 16.7% over 2016-2024. Another lucrative technological trend influencing digital health industry is the mHealth market. Increasing usage of mobile cellular network even in the remote areas is changing the way healthcare is delivered. Using this technology, the providers are seeking to maximize their patient outreach at minimum costs. mHeath market is estimated to grow at a massive 36.5% CAGR over the period of 2016-2024. Health analytics and tele healthcare technologies are also gaining momentum as they play a crucial role in delivering an affordable and efficient patient care.
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