Digital Health Market Size By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors

Digital Health Market Size By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors), Apps (Medical, Fitness)}, Health Analytics, Digital Health System (EHR, e-prescribing System)], By Component [Hardware, Software, Services], Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026

Digital health market is estimated to record significant gains over the forthcoming timeframe owing to a substantial rise in adoption of mobile devices and mobile apps among physicians, and healthcare practitioners to administer treatment to their respective patients. Digital Health is the use of information and communication technologies to provide treatment to patients, monitor public health, track diseases, educate healthcare professionals, and conduct research.

The wide scope of digital health includes categories like wearable devices, telehealth and telemedicine, personalized medicine, mobile health (mHealth), health information technology (IT). These digital health tools have immense potential to improve an individual’s ability to accurately diagnose as well as treat the disease and improve the delivery of health care for the individual.

These tools facilitate healthcare providers a more complete view of a patient’s health by providing access to integral data and also by giving patients control over their own health. The technology provides real opportunities to improve efficiency and enhance medical results.

Digital health is of relevance owing to the demand for more patient engagement, ageing society, financial pressure in health systems, paradigm shift to patient-centered healthcare from doctor-centered healthcare.

Further, rising prevalence of chronic diseases, shortages as well as uneven distribution of health care professionals, inequities & inequalities in access to healthcare, and changes in national health such as integrated care; rising number of new medical technologies, and digitization are making digital health relevant.

The digital health market is segmented in terms of technology, component, and regional landscape.

Based on technology, the digital health market is classified into digital health systems, health analytics, mHealth, and tele healthcare. mHealth segment is projected to exceed $374 billion by the end of the analysis period. Often referred as mobile health, mHealth is the practice of medicine and public health, which is supported by mobile devices like tablets, wireless infrastructure, mobile phones, and personal digital assistants.

Digital health applications for mHealth include remote monitoring, remote data collection, chronic disease management, education & awareness, telemedicine/telehealth, diagnostic and treatment support, healthcare worker telecommunication & training, healthcare supply chain management, and disease & epidemic outbreak tracking.

With respect to component, the digital health market is categorized into service, software, and hardware. Software held the revenue share of more than $35 billion in 2019 and will continue to show appreciative growth.

From a regional frame of reference, Latin America digital health market was valued at more than $3.8 billion in 2019 and will continue its momentum in terms of growth. The Middle East & Africa digital health market is estimated to reach $16 billion by the end of the forecast timeframe.