Global Digital Healthcare Market Overview:
The digital healthcare is an emerging innovation in the healthcare industry. With the advent of various technologies to empower consumers for the much-informed decisions regarding their health and offers new options for facilitating prevention. The mobile medical apps and software help in clinical decisions doctors with the help of artificial intelligence and machine learning, other digital technology. WHO is revealed that global experts to are helping healthcare organization’s roadmap by developing their digital health ecosystem. Recently, the WHO Digital Health Technical Advisory Group met for the first time to discuss on the ethical and equitable use of digital technologies, to serving communities advantage from proven and cost-effective digital health solutions. According to our study, the developed regions are highly investing on digital healthcare. As in FY 2018, the United States region spends nearly about USD ~3.7 billion. Some of the key players profiled in the study are Allscripts (United States), AT & T (United States), LifeWatch Services Inc. (United States), McKesson (United States), Qualcomm (United States), Koninklijke Philips N.V. (Netherlands), Cisco Systems (United States), Cerner (United States), Biotelemetry (United States) and IBM (United States).
On the basis of geography, the market of Digital Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Monitoring Services will boost the Digital Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Tele-Healthcare will boost the Digital Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Offerings, the sub-segment i.e. Hardware will boost the Digital Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Demand for the Advance Health Service for End Users from All Governments
- Advancement in Technology Platforms
- Rise in Public and Private Partnership for the Emerging Digital Health Technologies
- Advancement in technology such as health information technology (IT), wearable devices, telehealth and telemedicine, and personalized medicine. These technologies help in empowering consumers to make better-informed decisions for their health. And it also provides various options for facilitating prevention, early diagnosis of life-threatening diseases.
- Huge Investment Required
- Lack of Professional Expertise
- Developing and Implementing Regulatory Strategies and Policies for Digital Health Technologies
- Development in Enhancing Outreach to Digital Health Customers
- Slowdown in Economy
- Lack of Awareness in Under Developing Regions
Major Market Developments:
In Sep 2019, Google and Mayo Clinic announced a partnership for the revolution of healthcare patients, clinics, and others. Through this partnership, the Mayo Clinic’s enhanced its capabilities with the help of Google’s cloud and artificial intelligence. This helps Mayo Clinic to transform its virtual care and AI enables digital diagnostics. Additionally, in Oct 2019, the Advanced Medical Technology Association announced the launch of its Centre of Digital Health, a platform which is a huge contribution towards the medical technology industry to serve the unique need of companies.
In Jan 2019, BioTelemety announced the acquisition of a start-up company known as Geneva Healthcare for USD 45million. Through this deal, BioTelemetry is able to access Geneva’s cloud-based platform to deliver better patient care. And it also helps in expanding their reach over USD 1 billion domestic implantable cardiac device monitoring market.
In Sep 2019, the United States Food and Drug Administration revealed the guidance for the encouragement for the development of digital health tools. These guidelines are part of the Digital Health Innovation Action Plan and address key provisions of the 21st Century Cures Act. Under the first guidance, they reveal Clinical Decision Support Software, is revised draft guidance based on a careful review of public comments received on the previous draft published in 2017.
The market is fragmented by the leading players, and market players are highly focusing on the production technologies, enhancement of efficiency, and service life. There are strong growth opportunities in this market which is captured by tracking the ongoing process improvement and financial flexibility to invest in business strategies.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Digital Healthcare Service Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Digital Healthcare market on the basis of product  , application [Mobile Operators, Device Vendors, Content Players and Healthcare Providers], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Digital Healthcare market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Digital Healthcare industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are Johnson&Johnson Services Inc. (United States), Philips (Netherlands) and Epic Systems Corporation (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Digital Healthcare market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.