Latest News- Digital Health Market: is expected to lead the Application segment during 2025-2029

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. In the radiology sector, AI offers radiologists advanced tools to address the expanding need for diagnostic imaging, streamlining clinical workflows and minimizing diagnostic errors. Notably, industry leaders like Siemens are investing significantly in AI as part of their research and development initiatives, positioning it as the foundation for comprehensive medical image comprehension. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Obesity
  • Diabetes
  • Cardiovascular
  • Respiratory Diseases
  • Others
• Component
  • Software
  • Services
  • Hardware
• End User
  • Patients
  • Providers
  • Payers
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Asia
    • China
    • India
    • Japan
    • South Korea
  • Rest of World (ROW)

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in inorganic growth strategies
• Increasing support for digital health from government
• Growing adoption of data analytics in healthcare sector

However, the market also witnesses some limitations, which are as follows:

• Threat of open-source service providers
• High cost of implementation
• Rise in number of cyberattacks in healthcare sector

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Market Scope in Digital Health Market Research Report

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Research Analysis Overview

In the digital health market, tablets and mobile platforms are transforming healthcare delivery, particularly for adults managing chronic diseases like diabetes, heart disease, and cancer. Tablet PCs and Personal Digital Assistants facilitate internet connectivity, enabling access to mobile applications tailored to healthcare requirements. High-speed mobile networks and low-cost devices expand telehealthcare services, bridging the gap between patients and physicians. Digital technology, including digital portals, telehealthcare platforms, and wearable devices, are developed by IT industry players to enhance the healthcare ecosystem. E-prescription systems streamline healthcare IT infrastructure in hospitals and healthcare facilities. Preventive healthcare solutions, such as those for diabetes and heart disease, are a growing focus in this digital health revolution.

Market Research Overview

The Digital Health Market encompasses the income generated from the sales of healthcare applications, IT systems, internet-based healthcare tools like monitoring devices, telehealth technologies, and digital health technologies, as well as IT consulting services to healthcare providers and businesses. According to Technavio, the global healthcare market size is determined by the consolidated revenue of equipment, supply, pharmaceutical, biotechnology, healthcare technology players, and life sciences tools and services manufacturers/providers. The expansion of the healthcare technology market is influenced by factors affecting both the healthcare industry and IT spending market. One significant driver is the persistent need to cut costs, which is a prevalent challenge for healthcare sector entities in both developed and emerging economies.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/