The emergency of coronavirus has made a favorable impact on
the global digital health market growth in 2020. During the emergency, COVID-19
has put the healthcare industry at a stage of rapid demand for telemedicine,
online consultation and remote patient engagement for effective communication
between doctors and patients. Also, increasing importance of home healthcare
services is directly affecting the demand for digital health services owing to
increasing consciousness among the people about the wide spread of the novel
coronavirus. These factors are estimated to drive the market growth in the
emergency time. Moreover, some of the government bodies are taking several
activities to help the enterprises to endure in the crisis. For example, in
recent times, the Infocomm Media Development Authority and Enterprise Singapore
expanded the digitalization support for education and healthcare SMEs to manage
the effect of the coronavirus. The learning management systems and
tele-consultation solutions plan to offer education & healthcare providers
to provide their services remotely.

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During this crisis, our analysts provide market players
support in understanding the effect of COVID19 on the digital health market.

Our report includes:

·        
Technological Impact

·        
Social Impact

·        
Investment Opportunity Analysis

·        
Pre- & Post-COVID Market Scenario

·        
Infrastructure Analysis

·        
Supply Side & Demand Side Impact

According to new study done by Research Dive, the global
digital health market is expected to reach up to $1,045.8 billion by 2027 and
rising at a CAGR of 33.4% during the estimated time from 2020-2027. The global
market is classified into technology, component and region. This study delivers
comprehensive insights about drivers, opportunities, restraints, segmentation
and top market players in the global market.

Factors affecting the market growth

As per our analysts, increasing trend for incorporation of
artificial intelligence, internet of things and big data analytics to advance
the digital healthcare is major driving factor for the growth of the market in
the forecast years. However, huge implementation costs of the digital health services
is predicted to be major restraint for the market growth.

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Digital health systems technology and hardware segments
held the global market size in previous decades

Based on technology, the global market has been segmented
into telehealthcare, health analytics, mHealth and digital health systems.
Among these, digital health systems segment accounted for highest market size
in 2019, it was valued at $52.7 billion and is estimated to rise at a healthy
rate of 32.9% CAGR in the projected time. This dominance is majorly owing to
growing government investments to promote digital health, which will drive the
demand for digital health systems. Besides digital health systems, health
analytics segment will witness to rise at a faster rate of 34.2% CAGR and is
predicted to experience a potential growth in the forecast period.

The global digital health market has been categorized on the
basis on component into software, services and hardware. In these, hardware
segment generated majority of the digital health market share in the previous
years, which was 38.0% and is predicted to account for $366.0 million by the
end of 2027. This growth is due to rising geriatric population across the globe
is expected to drive the demand for wearable medical devices like ECG monitors,
BP monitors and fitness trackers. This factor will propel the market growth in
the forecast time period. Services component is expected to grow at a
significant rate of 33.9% CAGR during the forecast years. Increasing
investments to improve healthcare digital infrastructures in the developed and
developing economies is estimated to drive requirement of services to provide
most efficient digital platforms.

Digital health market, Regional analysis

In 2019, the global digital health market has commanded by North
America region and is predicted to generate a revenue of $360.8 million by the
end of 2027. Wide utilization of digital health services across the North
America due to swift growth in adoption of smart mobiles along with
developments in coverage network systems. This factor is estimated to impel the
market growth in the review period. Besides North America, Asia-Pacific will
witness to grow at a faster rate of 34.2% CAGR in the forecast years and is
predicted to create huge opportunities for market growth in the coming decades.
This predicted rise credited to favorable government initiatives to support
advancements in healthcare IT and increasing adoption of mHealth services
across the Asia-Pacific region.

Top 10 Prominent players operating in the Global Digital
Health Market include

·        
Allscripts Healthcare, LLC

·        
CISCO

·        
McKesson Corporation

·        
AirStrip

·        
Google Inc.

·        
Koninklijke Philips N.V.

·        
BioTelemetry, Inc.

·        
Honeywell International Inc.

·        
Cerner Corporation

·        
Telefónica S.A.

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About Us:

Research Dive is a market
research firm based in Pune, India. Maintaining the integrity and authenticity
of the services, the firm provides services that are solely based on its
exclusive data model, compelled by the 360-degree research methodology, which
guarantees comprehensive and accurate analysis. With unprecedented access to
several paid data resources, a team of expert researchers, and a strict work
ethic, the firm offers insights that are extremely precise and reliable.
Scrutinizing relevant news releases, government publications, and decades of
trade data, and technical white papers, Research dive delivers the required services
to its clients well within the required timeframe. Its expertise is focused on
examining niche markets, targeting their major driving factors, and spotting
threatening hindrances. Complementarily, it also has a seamless collaboration
with the major Market aficionado that further offers its research an edge.

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