Digital Health Market Growth Analysis, Share, Demand by Regions, Types and AnalyPosted by rushi007 on February 19th, 2019 Digital health is a new age platforms that deals with prime focus on consumer centric healthcare approach which results in efficient and quality healthcare at much lesser cost than traditional healthcare ecosystem. It is broad term that covers various aspects of healthcare ecosystem bind together with thread of digital mediums in order to provide most handy health care service with ease of access to all stakeholders. It covers various stakeholders of healthcare ecosystems such as healthcare provider, patients, payer, pharmaceutical companies and other new stakeholders such as information and technology companies. Overall digital health covers diagnosis, treatment, consultation and long term care services at economy of cost with greater access than old location based system of healthcare.
Market Dynamics
Various combinations of factors makes market for digital health a lucrative. Larger number of population crossing age 60 and above worldwide leads to higher requirement of healthcare needs with more emphasis on long term care and chronic disease care. Developed markets such as U.S. and Europe are especially witnessing higher number of population 65 and above. According to the U.S. Census Bureau’s report of 2017, there were 47.8 million people aged 65 years and older in the U.S. in 2015 accounting for 14.9% of the total population, a 1.6 million increase from that in 2014. Europe is currently having highest 65 years and above age population which is 25% of entire population according to the Population Prospect Report of the United Nations published in 2017. Tele Care and Tele Medicine are important digital health platform for this population as they don’t have to take efforts of visiting physician in person. Another important factor for growth of the digital health market would be high technological penetration in the digital health domain. For instance, cloud based electronic medical record which could be shared amongst entire healthcare stakeholders would make entire health operation smooth and efficient.
Higher penetration of smartphone, digital technology across the globe to be an important driver for the digital health market growth Increased user base of smartphones and tablets across globe especially in the developing countries would lead to higher adoption of digital health platform. According to statistics provided by the Pew Research Centre in 2016, 72% population of the U.S. has smartphone access, around 59% of Chinese population and around 45% of Indian population possess smartphone. The number of internet users in India is expected to reach 450-465 million by 2020 as per estimation of the Internet and Mobile Association of India in 2017. This is important market trend as mHealth platform could directly get influenced with higher penetration of smartphones. Various fitness apps, health apps and health appointment consultation would see rising prospects with higher mobile and internet user base. Platforms such as online pharmacy would also witness upward market growth. Shortage of healthcare providers worldwide would lead higher utilization of digital health platform.
Detailed Segmentation:
Global Digital Health Market, By Technology Platform
Digital Health Information Systems
Global Digital Health Market, By End Users
Global Digital Health Market, By Geography
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