The global digital health market size is
expected to reach USD 509.2 billion by 2025, expanding at a CAGR of 27.7% over
the forecast period. Growing adoption of mHealth technologies by physicians to
prescribe for self-management of chronic illness, such as diabetes, has
propelled the growth of the market. For instance, Glooko is specifically used
for management of diabetes. Availability of such apps in smartphones makes it
easier for healthcare professionals to access patient information and diagnose
diseases. Furthermore, increase in penetration of smartphones and internet
connectivity are the key factors driving the market.
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Growing need for improving workflow
efficiency in hospitals and other healthcare centers is propelling the demand
for mHealth services in healthcare administration. For instance, Results SMS in
Uganda is an open source SMS-based platform providing appointment reminders. It
gives appointment reminders as SMS to patients. In addition, mHealth services
are disseminating essential medical information to healthcare professionals,
which, in turn, is driving their adoption in healthcare communities as these
help in training, updating, and educating about diagnosis and treatment.
Additionally, increasing pressure from
the governments to reduce cost and rising demand for improved patient care are
resulting in an increase in the demand for electronic health record (EHR)
system. Recent advancements in EHR technology with the inclusion of
interoperability, mobile, cloud, and big data are propelling the demand for
advanced EHRs in the market. Companies are increasingly investing in developing
innovative technologies in EHRs, which, in turn, is expected to boost demand in
the market. For instance, in 2018, Allscripts launched Avenel, which is a
mobile-first, cloud based EHR that uses machine learning to reduce time in
clinical documentation and works more like an app.
Further
key findings from the study suggest:
• In 2018, the mHealth technology
segment held the largest revenue share owing to rising adoption of mHealth
technologies among physicians and patients, increasing trend of preventive
healthcare, and rising funding for mHealth startups
• Digital health systems occupied the
second largest revenue share in 2018 owing to rising government initiatives to
promote digital health, resulting in an increased adoption of digital systems
among healthcare systems
• North America held the largest revenue
share in 2018 owing to rapid growth in adoption of smartphones, advancements in
coverage networks, rise in the prevalence of chronic diseases, and increase in
geriatric population
• Asia Pacific is expected to expand at
the fastest CAGR over the forecast period owing to increasing penetration of
smartphones and smart wearable devices and rising adoption of mHealth services
• Key players operating in the digital
health market include Apple Inc.; AirStrip Technologies; Allscripts; Google
Inc.; Orange; Qualcomm Technologies Inc.; Mqure; Samsung Electronics Co. Ltd.;
Telefonica S.A.; Vodafone Group; Cerner Corporation; and McKesson Corporation.
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Suite 3036, San Francisco,
CA 94105, United States
Tel: 1-415-349-0054
Toll Free: 1-888-928-9744
Mail: sales@radiantinsights.com
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