A Deep Dive into the Key Innovators of the Digital Health Industry
Author : Tom Clark | Published On : 28 Feb 2024
The economic value generated by the Digital Health Industry was estimated at USD 211.0 billion in 2022, and it is expanding at a significant CAGR 18.6% from 2022 to 2030, according to a new report by Grand View Research, Inc.
The digital health industry data book, compiled by Grand View Research, is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research along with a digital healthcare statistics e-book.
Access the Global Digital Health Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
mHealth Market Growth & Trends
The global mHealth market size is expected to reach USD 56.8 billion in 2022, registering a CAGR of 10.8% from 2022 to 2030, according to a new report by Grand View Research, Inc. The substantial surge in emphasis on enhancing individual health and well-being through intelligent devices & wearable technology stands as the primary catalyst driving the expansion of the market. Moreover, growing utilization of the internet & smartphones and widespread acceptance of mHealth technology & platforms among medical professionals and patients are anticipated to drive the growth of the market. In addition, increasing integration of digital healthcare services for remote patient monitoring is heightening demand for mobile health applications, thereby contributing to the market's projected growth in the years to come.
Increased utilization of mobile health platforms and technologies, including apps, during COVID-19 pandemic has led to an increase in growth of the market. Several government initiatives to launch mHealth apps during the COVID-19 are also responsible for driving adoption of mHealth apps during this period. Furthermore, increasing internet penetration and adoption of digital health technologies for remote diagnosis and analysis of patient data are the major factors responsible for the high adoption of mobile health technologies during the COVID-19 pandemic. Moreover, restrictions and fear of COVID-19 infection have further fueled adoption of mobile health technologies and apps which in turn are expected to accelerate the market growth over the forecast years.
Order your copy of the Free Sample of “Digital Health Industry Data Book - Tele-Healthcare, mHealth, Healthcare Analytics and Digital Health System Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030” Data Book, published by Grand View Research
Healthcare Analytics Market Growth & Trends
The global healthcare analytics market size is expected to reach USD 167.0 billion in 2030 expanding at a CAGR of 21.4% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increase in capital investments by the healthcare industry in IT sector for better management and cost-effective patient care are key growth factors for the market. In 2023, on-premises delivery model held the largest revenue share in the delivery mode segment. This has been due to ease of access of data being on the site, i.e., hospitals, etc. This has resulted in better patient monitoring, better management of records, etc., small institutions are manageable for on-premises delivery mode, another option for data storage is cloud-based.
Cloud-based deployment has been emerging delivery mode since it provides a larger space virtually to store data for a multitude of patients. This is cost-effective and is commercially more viable option for industries. Financial application was the top grosser in applications category. Most of the industries in healthcare sector are focusing on cutting costs, and maximizing their profit margins, but also are keen on delivering better care to customers. The costs incurred from insurance frauds have been on the rise, with the help of analytics tools, the aim is to find errors in insurance claims, thus reducing the cost of care.
Life-science companies hold the highest revenue share in the market. The companies are constantly looking to improve their products but doing so at a lower cost has been agenda. Analytics play a major role in understanding market dynamics & future business prospects and need of consumers for better product offerings and cost-cutting. Healthcare providers are increasingly adopting analytical platforms for studying and understanding clinical data being generated during the pandemic due to the overall increase in the prevalence of various diseases. The analytical platforms help them deliver better care and understand the dynamics of the spread of diseases and ways to control them.
Competitive Landscape
Key players operating in the Digital Health industry are:
- Apple Inc.
- AT&T
- AirStrip Technologies
- Allscripts
- Google Inc.
Check out more Industry Data Books, published by Grand View Research
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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