Stratview Research announces the launch of a new market research report on the Digital Health Market by Grade Type (Polyester Grade, Industrial Grade, Antifreeze Grade, and Low Conductivity Grade), by Application Type (Polyester Fiber, PET, Antifreeze & Coolants, Chemical Intermediates, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

Market Insights

The digital health market was estimated at USD 174.2 billion in 2021 and is likely to grow at a CAGR of 18.2% during 2022-2028 to reach USD 561.52 billion in 2028. 

This detailed report provides a complete analysis that reflects today’s Digital Health Market realities and future possibilities, with a forecast period of 5 years.

The report segmentation evaluates the market to deliver a bird's-eye view to the users. The essential data/information offered in the report can be vital for the market participants to formulate new growth strategies and for staying ahead of the pack.

This report offers detailed overview of the Digital Health Market along with the industry life cycle analysis, supply chain analysis, Growth drivers and constraints, market trend and forecast analysis, competitive landscape and dynamics, associated growth opportunities and key success factors.

Market Dynamics

The growth of the digital health market is primarily driven by:

• Rising smartphone or mobile phone penetration & integration of advanced technologies, such as the internet of things (IoT) & artificial intelligence (AI),

• Advancing healthcare IT infrastructure,

• Increasing demand for remote patient monitoring services.

Furthermore, digital health policies are ambiguous and differ among countries and regions. Increasing smartphone penetration, improved internet connectivity with the introduction of 4G/5G, advancement in healthcare IT infrastructure, growing need to minimize healthcare costs, rising prevalence of chronic diseases, and increased access to virtual care.

The increased usage of the internet and smart gadgets in the healthcare sector is raising cybersecurity concerns. The number of incidences of hacking and accessing personal information via linked and smart devices has significantly increased.

Because of data security issues regarding healthcare information, governments, healthcare organizations, and experts are hesitant to implement digital health solutions on a bigger and national scale.

Research Methodology

Stratview Research specifically relies on two types of research methodology –

-        Primary research interviews to get the strategic insights on the market, directly from the industry experts.

-        Secondary research to acquire necessary information for this study. Stratview Research leverages more than 1,000 secondary sources, such as company websites, press releases, white papers, and annual reports and constantly validates through its internal records for authenticity.

Segment-Wise Analysis

The tele-healthcare segment is projected to maintain its dominance by owning more than 36% of the market share in 2021.

The market is segmented as tele-healthcare, mHealth, health analytics, and digital health system. It is owing to the increasing geriatric population, growing prevalence of chronic diseases, improving accessibility to the internet, and absence of skilled healthcare professionals.

The market is segmented into hardware, software, and services. The services segment is expected to remain the most dominant in the market over the forecast period and owing more than 45% share in 2021 due to the growing demand for remote patient monitoring, synchronous services, and asynchronous services.

North America held the highest market share of more than 45% in 2021 and grew with a lucrative CAGR over the forecast period, owing to a well-developed healthcare infrastructure, huge healthcare expenditure, high adoption of advanced technology, and the presence of a tech-savvy population.

The report discusses current key players in the Digital Health Market on the basis of intensive research. According to the experts, the market has the following key players-

• AdvancedMD Inc.

• Allscripts Healthcare Solutions Inc.

• Biotelemetry Inc.

• iHealth Lab Inc.

• McKesson Corporation

• Koninklijke Philips N.V.

• AT & T

• Cerner Corporation

• Cisco Systems.

Why invest in this report?

The report covers 360-degree angle of the Digital Health Market and answers the following critical questions -

l  What are the key trends in the Digital Health Market?

l  How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?

l  What is the impact of COVID-19 on the Digital Health Market?

l  What are the key strategies adopted by the major vendors to lead in the Digital Health Market?

l  What is the market share of the top vendors?