Salute e Benessere
Digital Healthcare Market Size to reach $836.10 billion by 2031, growing at a CAGR of 21%, says Coherent Market Insights
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The growth of digital healthcare market is driven by increasing adoption of telehealth and telemedicine. Telehealth allows remote consultation for the healthcare providers and patients which increases the convenience of treatment. During COVID-19 pandemic, telehealth witnessed exponential growth as it addressed the challenge of physical distancing. Moreover, growing usage of smartphones and tablets has fueled the demand for various healthcare apps for self-diagnosis and monitoring of chronic conditions. These apps provide healthcare services at affordable costs compared to regular hospital visits.
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Growing Trend of Remote Patient Monitoring: Remote patient monitoring allows continuous tracking of vital signs outside of conventional clinical settings which improves patient engagement. It ensures safety of high risk patients such as ones with chronic illnesses by alerting healthcare providers in case of any emergencies.
Growing Trend of Digital Therapeutics: Digital therapeutics deliver evidence-based therapeutic interventions to patients that are driven by high quality software programs to prevent, manage, or treat a medical disorder or disease. They are used to effectively treat various medical conditions such as diabetes, insomnia, chronic pain etc. with minimal physical interaction.
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Healthcare analytics segment accounts for more than 30% share of the overall digital healthcare market. Healthcare analytics solutions help in population health management, clinical variability reduction, financial performance and many other applications. It provides actionable insights from large amounts of medical data for better clinical and financial outcomes.
mHealth segment is growing rapidly, driven by increasing penetration of smartphones and tablets. mHealth apps and solutions enable remote monitoring of patients, medical personnel connectivity, delivery of healthcare services and information. They improve access and convenience of care while reducing costs.
The global digital healthcare market is anticipated to witness a CAGR of 21% during the forecast period 2024-2031, owing to growing investments and initiatives in digital transformation of healthcare systems.
On the basis of technology, healthcare analytics segment is expected to hold a dominant position, accounting for over 30% market share due to improved quality of care and medical outcomes with data-driven insights.
By component, software segment dominates with around 60% share owing to various healthcare IT solutions for electronic health records, revenue cycle management, practice management and others.
Regionally, North America is expected to hold a dominant position over the forecast period, with over 35% share of the global market due to advanced digital healthcare infrastructure and favorable government policies in the region.
Key players operating in the digital healthcare market include Telefonica S.S., Epic Systems Corporation, AT&T, AirStrip Technologies, Google, Inc., Hims & Hers Health Inc., Orange, Softserve, Computer Programs and Systems, Inc., Vocera Communication, IBM Corporation, CISCO System, Inc. Apple Inc., Oracle Cerner Veradigm, and Mckesson Corporation among others. Strategic partnerships for product development and geographical expansion are leveraged by these players.
In January 2024 , Eli Lilly and Company, introduced LillyDirect, a novel digital healthcare solution for patients in the U.S. dealing with obesity, migraine, and diabetes.
In March 2023 , BlueRock Therapeutics LP, announced a partnership with Emerald innovations and Rune Labs , health analytics company focusing on leveraging contract less and invisible wearable digital health technology, to enhance monitoring for Parkinson;s disease.
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The global telehealth services market was valued at US$ 12.47 Bn in 2023 and is expected to reach US$ 26.64 Bn by 2031, growing at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031
The healthcare API market is estimated to be valued at USD 228.3 Mn in 2024 and is expected to reach USD 345.5 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031
The global well being platform market size is expected to reach US$ 87.38 Bn by 2030, from US$ 62.93 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 4.8% during the forecast period
The global healthcare consulting services market is estimated to be valued at and is expected to reach , exhibiting a compound annual growth rate
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
Mr. Shah
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View original content: https://www.prnewswire.co.uk/news-releases/digital-healthcare-market-size-to-reach-836-10-billion-by-2031--growing-at-a-cagr-of-21-says-coherent-market-insights-302189503.html