Digital Health Market Poised to Reach $379 billion by 2024

Key industry players will try to increase their revenue by introducing new technologies in the digital health business and investing heavily in R&D projects. Key market players include McKesson Corporation, Philips Healthcare, Qualcomm, AT & T, LifeWatch, Cisco Systems Incorporation and athenahealth Incorporation.

Digital Health Market size is expected to cross $ 379 billion by 2024; as per a new research report by Global Market Insights, Inc. Digitization in the healthcare space along with the buzzing trend of IoT (Internet of Things) worldwide, will propel the digital health industry growth over the coming seven years. The evolving smart healthcare technology across the globe is expected to enhance the industry outlook over the coming time-frame.

Widespread application of remote patient monitoring solutions along with favorable government policies will help in creating an advanced healthcare infrastructure worldwide. Moreover, growing penetration of smartphones, mobiles, and tablets is expected to noticeably boost the digital health market trends over the coming years.

The new technological breakthroughs in healthcare IT industry along with improvements in healthcare services is expected to build a profitable road-map for the digital health market. Rampant use of mHealth technologies by healthcare service providers for monitoring patient health will also bring a significant surge in the mHealth market, in turn proliferating the digital health industry over the next few years.

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Considering the technological trends in the digital health business space, health analytics market size will witness a considerable growth over the next few years, having reached a targeted revenue of over USD 4 billion in 2015. Digital health systems market value estimated at USD 32 billion in 2015, is expected to observe a high surge over 2016-2024, primarily driven by growing consumer awareness about EHR (Electronic health record) and rising interoperability trend.

Geographically, US digital health market will dominate the global industry, with target revenue poised to surpass USD 152 billion by 2024. Rise in aging population base suffering from chronic ailments coupled with introduction of HIPAA & HITECH acts will positively impact the regional growth. Rapid technological changes, rise in sale of smartphones, growing popularity of eHealth cards, and government support for e-health will contribute significantly towards Germany digital health industry, which contributed over 30% of the global market share in 2015. Japan digital health market size will surpass USD 20 billion by 2024, due to the growing popularity of health care technologies along with improved healthcare services at lower costs.

Browse key industry insights spread across 110 pages with 182 market data tables & 8 figures & charts from the report, “Digital Health Market" in detail along with the table of contents:

Global digital health market share is highly fragmented, with big multinational corporations, local industry players, and start-up firms trying to capture maximum share and establish their market position.

EHR (Electronic health records) attributed to over 60% of global digital health market share in 2015, with expectations to reach over USD 116 billion by 2024. Some of the factors that should drive business growth are rising investments in interoperability, technological advancements and supportive government decisions favoring expansion of digital health market size.

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Name: Arun Hegde
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Organization: Global Market Insights, Inc.
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Phone: 1-302-846-7766

Release ID: 207439