Digital health: Key market research findings
- Emergence of advanced wearables
- Increased adoption of mobile health and wireless technologies
Technavio has added a new market research report on the global digital health market, to its health portfolio. The digital health market is expected to grow at a CAGR of around 17% between 2015 and 2019, thanks to the increased need for remote patient monitoring. The adoption of digital health solutions is high in the Americas, especially in the US, due to the increase in healthcare expenses and investments by government and private organizations. The US is the largest market for medical sensors as the region has advanced infrastructure to support sensing technologies. Also, consumers prefer wearable sensors, boosting the region’s growth.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Vendors are launching wearable sensors, biosensors, implantable sensors, and ingestible sensors in the market, aimed to help healthcare organizations in real-time health monitoring. These wearables are equipped with advanced sensor technologies to track electrocardiogram (ECG), muscle activity, and monitor breathing. Moreover, advanced wearables such as implantable devices, digital tattoos, and smart textiles have generated large volumes of digital health data. This data helps to derive powerful patient insights and deliver better healthcare services at reduced expenses,” says Navin Rajendra, Lead Analyst, IT Services, Technavio Research.
Now-a-days healthcare organizations are increasingly adopting mobile healthcare devices such as smartphones, tablets, patient monitoring devices and PDAs, to deliver healthcare services. Mobile health apps encourage remote patient monitoring as physical presence of patients is not needed, eventually reducing medical expenses. Wireless technologies such as Bluetooth, radio-frequency identification (RFID), and wireless local area network are gaining huge popularity in healthcare deliveries. These tools address issues like worker productivity and error rates through remote monitoring. Patients communicate with doctors wirelessly for their diagnosis or follow-ups, without visiting hospitals or clinics.
The top vendors dominating the global digital health market are AT&T, Cerner, Cisco, GE, McKesson, and Philips. This market is witnessing a significant number of mergers and acquisitions, and this is expected to intensify the competition in the market. Vendors are using technology to provide cost effective solutions.
A more detailed analysis is available in the Technavio report, Global Digital Health Market – Market Research 2015-2019.
We can customize reports by other regions and specific segments upon request.
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