Скачать или смотреть Digital Health Market surpassed USD 106 billion in 2019 and expects 28.5% CAGR through 2026

Digital Health Market size was estimated over USD 106 billion in 2019 and the industry will grow at 28.5% CAGR through 2026. Growing number of COVID-19 cases across the globe has increased the adoption of digital health technologies and will boost the digital health industry growth.

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A growing number of smartphone users across the globe will be a key to driving the market growth. Rapidly growing healthcare IT infrastructure in developed and developing countries will be conducive to market growth. Furthermore, a growing awareness about importance of fitness and health among the population will increase the product adoption, driving the market growth.

Increasing number of COVID-19 cases across the globe have led to impositions of lockdowns and stringent social distancing measures by governments of the world. The highly contagious nature of the virus has driven the caregivers to use digital health technologies such as telehealth to successfully treat patients. This has driven the product adoption and is expected to propel the market expansion. As an increasing number of patients turn to digital health technologies, companies are expanding their capabilities to deal with the sudden increase in patient volume. This will increase the product demand and propel the market expansion.

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 the corona virus 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.

The market will witness significant demand in the future owing to these conditions. However, concerns regarding misuse of patient data and high capital expenditure and maintenance might impede the market expansion during the short run. As companies work to alleviate these concerns, and bring down the cost of digital health solutions, there will be an increase in product adoption rates. These factors will boost the market growth.

The health analytics segment was valued at more than USD 9.7 billion in 2019 and is expected to show robust growth during the forecast period. The COVID-19 pandemic has driven the demand for health analytics software. Health analytics software has been used to track the spread of COVID-19 infection and to optimize the usage of hospital resources. Furthermore, it can also be used to triage the patients for treatment, as there has been a shortage of hospital beds due to the growing number of COVID cases.

The digital health systems market is forecast to exhibit more than 18% CAGR over the forecast period. A shift from paperwork to paperless patient records will cause an increase in demand for digital health systems such as electronic health records (EHRs) and propel the segment growth. The segment is bifurcated into EHRs and e-prescription software. A growing telemedicine market and a preference for homecare settings will boost the demand for e-prescribing software thus propelling market expansion.

The software segment held nearly 34% of digital health market share in 2019 and will exhibit robust growth over the forecast period. A growing demand for digital health software such as EHRs, fitness and medical apps, and healthcare analytics will drive the segment growth. The rising number of COVID-19 cases have created a need for software to record and track the COVID cases, thereby, propelling the demand for EHRs. Furthermore, due to shutdown of gyms and recreation clubs, there will be a growing demand for fitness apps. Also, growing geriatric population and rising chronic diseases will create a demand for medical apps. These factors will drive the digital health industry growth.

The hardware segment had a market value of more than USD 31 billion in 2019 and is poised to exhibit robust growth during the analysis period. A growing incidence of chronic diseases due to unhealthy lifestyle will increase the patient pool. This will result in an increased demand for hardware such as glucometers, and BP monitors. Growing geriatric population across the world will have a positive impact on the product demand in the market. These factors will drive the segment growth and boost the industry demand.