The Digital Health Market is being driven by Increase in inorganic growth strategies
The Digital Health Market is expected to grow at a CAGR of 25.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 884.9 billion. In the digital health market, Artificial Intelligence (AI) plays a pivotal role in enhancing the capabilities of medical equipment and expediting diagnostic processes. By integrating AI into medical systems, professionals gain access to more efficient diagnosis charts and informed insights. AI functions as a valuable clinical decision-support tool, collaborating with human expertise to deliver superior care with heightened productivity. For instance, in radiology, AI equips radiologists with advanced tools to address the expanding need for diagnostic imaging, streamlining clinical workflows and minimizing diagnostic errors. Notably, AI is a significant focus for numerous digital health vendors, such as Siemens, in their research and development initiatives. The implementation of AI is anticipated to establish the foundation for extensive medical image comprehension.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
211 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 25.8% |
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Market growth 2025-2029 |
USD 884.9 billion |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
24.5 |
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Key countries |
US, China, Canada, UK, India, Germany, France, Italy, Japan, and South Korea |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The Digital Health Market is witnessing significant growth with the integration of digital technology into chronic disease management. Mobile platforms, including Tablet PCs and Personal Digital Assistants, are transforming healthcare delivery. High-speed mobile networks and low-cost devices enable access to healthcare requirements through digital portals and telehealthcare platforms. IT industry players, including telehealthcare platform developers and wearable device manufacturers, are collaborating to create e-prescription systems and preventive healthcare tools for conditions like heart disease. Digital health tools, such as mobile applications and internet connectivity sources, are enhancing healthcare IT infrastructure and the overall healthcare ecosystem.
The digital health market encompasses the revenue generated from the sales of healthcare applications, IT systems, internet-based healthcare tools like monitoring devices and tablet PCs, telemedicine services, and digital health technologies to healthcare providers and businesses. According to Technavio, the global healthcare market size is determined by the combined revenue of equipment, supplies, pharmaceuticals, biotechnology, healthcare technology players, and life sciences tools and services manufacturers/providers. Factors driving market growth include the need to reduce costs in both developed and developing economies, the availability of low-cost devices, and the expansion of high-speed mobile networks. Additionally, the black market for personal health information and medical data presents an opportunity for growth in this sector. Telehealth technologies, such as personal digital assistants and telemedicine services, enable data collection and management of personal health information, making healthcare more accessible and efficient.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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