DUBLIN, Oct. 17, 2018 /PRNewswire/ --
The "Digital Health Market by Technology - Global Market Size, Share, Development, Growth and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
Global digital health market is expected to attain a size of $223.7 billion by 2023, the market is mainly driven by the increasing penetration of smart phones and tablet users, growing need for remote patient monitoring services, and increasing demand for advanced healthcare information systems.
On the basis of technology, the digital health market has been categorized into mHealth, electronic health record (EHR), telemedicine, and healthcare analytics. Amongst all, the mHealth market is expected to witness fastest growth during the forecast period, attributed to the increasing number of health awareness programs. For instance, according to a research study conducted by F. Hoffmann-La Roche AG and Daman - U.A.E's National Health Insurance Company, there were 325,000 health apps available in 2017, and approximately 3.6 billion apps were downloaded by the users in the same year across the world.
Further, the mHealth market is sub-categorized into connected devices, mHealth apps, and services. Among the varied mHealth product and services, the connected devices category dominated the global mHealth market during the historical period, with a contribution of 57.2% in 2017; whereas, mHealth apps is expected to be the fastest growing category in this market, witnessing a CAGR of 38.9% during the forecast period.
Digital health solutions are mainly used in the hospitals, clinics and at individual level. The hospitals constituted the largest end-user base for digital health solutions in the global digital health market, accounting for 52.1% market share in 2017. This can be attributed to the high adoption of various digital health solutions in large number of hospitals for providing effective care to large patient base. However, the fastest growth during the forecast period is expected from the individual end-user category. This is primarily due to the surge in penetration of information technology-based technologies and solutions amongst the population.
During the forecast period, the digital health market is forecasted to witness the fastest growth in APAC, at a CAGR of 26.6%. This growth is attributed to the rising geriatric population and surge in the prevalence of different chronic diseases. In terms of technology, improving healthcare infrastructure, increasing adoption of smart phones, and government support in the form of investments and grants, have fueled the growth of digital health market in the region. Moreover, the successful implementation of telemedicine projects in the regional countries including India has led to the envisioning of a regional telemedicine network connecting the Southeast Asian countries.
According to the International Trade Administration (ITA), in 2014, the Japanese healthcare information technology (HIT) market size was around $3.9 billion. The large size of HIT industry is primarily attributed to the increasing adoption of digital health solutions in the country. For instance, in 2015, the adoption rate for EHRs and computerized ordering systems among hospitals was 27.8% and 38.0%, respectively. In the same year, 70.1% of hospitals with over 400 beds had EHRs; and 79.8% of them have electronic ordering systems. This states the high usage of digital health solutions in the country.
The companies operating in the digital health industry are acquiring other firms and establishing their presence in different economies to increase their market share. For instance, in May 2018, Allscripts Healthcare Solutions Inc. acquired HealthGrid Holding Company (HealthGrid), a provider of mobile, enterprise patient engagement solutions, to integrate HealthGrid's capabilities into its FollowMyHealth platform. The acquisition aimed at leveraging existing patients' contact information, connecting providers with patients, and facilitating patient outreach and engagement. Terms of the transaction were not disclosed.
In April 2018, the company also acquired the OneContent business to Hyland Software Inc., a provider of content services solutions to the healthcare industry and beyond. Allscripts acquired the OneContent business in late 2017 through the acquisition of McKesson's Enterprise Information Solutions (EIS) portfolio. Terms of transaction were not disclosed.
Some of the other key players in the digital health industry are Qualcomm Incorporated, Cerner Corporation, eClinicalWorks LLC, Epic Systems Corporation, McKesson Corporation, athenahealth Inc., General Electric Company, Koninklijke Philips N.V., Cisco Systems Inc., and AT&T Inc.
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Technology
4.1.1.1 EHR
4.1.1.1.1 Web/cloud-based
4.1.1.1.2 On-premise
4.1.1.2 Telemedicine
4.1.1.2.1 Teleconsulting
4.1.1.2.2 Telemonitoring
4.1.1.2.3 Tele-education
4.1.1.2.4 Teletraining
4.1.1.2.5 Others
4.1.1.3 mHealth
4.1.1.3.1 Connected devices
4.1.1.3.2 Services
4.1.1.3.3 mHealth apps
4.1.1.4 Healthcare analytics
4.1.1.4.1 Descriptive
4.1.1.4.2 Predictive
4.1.1.4.3 Prescriptive
4.1.2 By End User
4.1.2.1 Hospitals
4.1.2.2 Clinics
4.1.2.3 Individuals
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Increasing number of partnerships and agreements
4.2.1.2 Rising number of acquisitions
4.2.1.3 Advanced applications of cloud computing in digital health
4.2.2 Drivers
4.2.2.1 Increasing penetration of smart phone and tablet users
4.2.2.2 Growing need for remote patient monitoring services
4.2.2.3 Innovative and advanced applications of mHealth technologies
4.2.2.4 Government support for digital health solutions
4.2.2.5 Increasing demand for advanced healthcare information systems
4.2.2.6 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 High capital expenditure and maintenance requirement
4.2.3.2 Inadequate healthcare infrastructure in developing countries
4.2.3.3 Privacy and security concerns
4.2.3.4 Impact analysis of restraints on market forecast
4.2.4 Opportunities
4.2.4.1 Increasing popularity of patient-centric EHR systems
4.2.4.2 Emerging markets offering lucrative opportunities
4.3 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Technology
5.1.1 mHealth Market by Product and Services
5.1.2 EHR Market by Delivery Mode
5.1.3 Telemedicine Market by Service
5.1.4 Healthcare Analytics Market by Type
5.2 By End User
5.3 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. LATAM Market Size and Forecast
Chapter 10. MEA Market Size and Forecast
Chapter 11. Competitive Landscape
11.1 Product Benchmarking of Key Players
11.2 Global Strategic Developments of Key Players
11.2.1 Mergers and Acquisitions
11.2.2 Product Launches and Approvals
11.2.3 Partnerships and Agreements
11.2.4 Client Wins
11.2.5 Other Developments
Chapter 12. Company Profiles
- Qualcomm Incorporated
- Cerner Corporation
- eClinicalWorks LLC
- Epic Systems Corporation
- Allscripts Healthcare Solutions Inc.
- McKesson Corporation
- athenahealth Inc.
- General Electric Company
- AT&T Inc
For more information about this report visit https://www.researchandmarkets.com/research/3rx9kr/global_digital?w=5
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