Dublin, March 29, 2022 (GLOBE NEWSWIRE) -- The "North America Digital Health Market Size, Share & Trends Analysis Report by Technology (Tele-healthcare, mHealth, Healthcare Analytics), by Component (Software, Services), by Region (Canada, U.S.), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The North America digital health market size is expected to reach USD 712.3 billion by 2030, registering a CAGR of 27.8%
The transition from volume-based healthcare to value-based care and the necessity of digital technology to improve treatment quality are among the major factors anticipated to drive the market growth over the forecast years.
In addition, the increasing prevalence of chronic disorders, growing geriatric population, and shortage of healthcare professionals in North America are anticipated to boost the market growth over the forecast period. Moreover, increasing internet penetration and the growing digitalization of healthcare are expected to support the market growth. The telehealthcare segment accounted for the highest revenue share in 2021.
This is due to the high adoption of long-distance patient care services by medical professionals and improving healthcare IT infrastructure in the U.S. In addition, the increasing adoption of digital communication technologies, such as mobile and computer devices, for remote health care services is supporting the segment growth.
Moreover, the growing number of COVID-19 cases increases the preference for remote patient monitoring, virtual consultation, and online patient engagement, which, in turn, is anticipated to drive the segment growth over the coming years. The services component segment dominated the market in 2021 owing to the growing preference for the improvement of digital healthcare platforms for better remote patient monitoring services.
In addition, pre- and post-installation of digital platforms, maintenance, staffing, training, resource allocation services for better patient engagement from remote locations are also supporting the segment growth.
North America Digital Health Market Report Highlights
- The telehealthcare segment dominated the market in 2021 due to the growing adoption of long-distance patient care services by the medical professionals and improved healthcare IT infrastructure in the U.S.
- The services segment dominated the market in 2021 owing to the growing preference for the improvement of digital healthcare platforms for better remote patient monitoring services
- However, the software segment will record the fastest CAGR over the forecast period due to rising demand for functionally improved software for better remote healthcare services and a rapid increase in the development of software with diverse healthcare applications by the manufacturers
- The mandatory social distancing practices due to the COVID-19 pandemic and the lack of face-to-face consultation between healthcare providers and patients have made digital health the safest interactive platform for disease management in 2020
- In addition, the rapid development of technology, such as mHealth, telemedicine, telecare, and digital systems, boosted the market growth during this period
- Furthermore, a high preference for telehealth platforms for virtual health consultation and remote patient monitoring services also fueled the market growth during the COVID-19 pandemic
- For instance, according to the U.S. Department of Health and Human Services (HHS) report, in December 2021, the Medicare visits through telehealth increased by 52.7 million in 2020 from approximately 840,000 in 2019
Market Dynamics
Market Driver Analysis
- Increasing adoption of digital healthcare
- Rise in artificial intelligence, IoT, and big data
- Growing adoption of mobile health applications
- Supportive initiatives and increasing strategic alliances
- High penetration of smartphones
Market Restraint Analysis
- Cybersecurity and privacy concerns
Market Challenges
- Digital health technology unable to deliver the promised results
Digital Health Market Analysis Tools
- Industry Analysis - Porter's
- PEST Analysis
Regulatory Landscape
Technology Landscape
- Pipeline analysis (Upcoming technologies)
Company Profiles
- Apple Inc.
- AT&T
- AirStrip Technologies
- Allscripts
- Google Inc.
- Orange
- Qualcomm Technologies, Inc.
- Softserve
- MQure
- Samsung Electronics Co., Ltd.
- Telefonica S.A.
- Vodafone Group
- Cerner Corporation
- McKesson Corporation
- Epic Systems Corporation
- NextGen Healthcare, Inc. (QSI Management, LLC)
- Greenway health, llc
- CureMD Healthcare
- HiMS
- Computer Programs and Systems, Inc.
- Vocera Communications
- IBM Corporation (IBM Watson Health)
- Siemens Healthcare GmbH
- CISCO Systems, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/5gi6z1
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