Today, digital health is merging into mainstream medicine, as venture capitalists and favorable government initiatives investing more capital in the healthcare space. Rising demand for digitization in this sector along with breakthroughs in technology including Healthcare Bots, mHealth are fueling the industry growth. According to the reports, the global market for Digital Health is predicted to exceed USD 423.11 billion by 2024. The market growth is further driven by the revolution in the field of rehabilitation by digital health technology through the integration of technology with robotics.
Escalating utilization of healthcare informatics technologies like Electronic Health Record (EHR) and Radiology Information System (RIS) will further foster the industry growth. However, security concerns pertaining to patient data may impede the global digital health market growth. Moreover, high-cost maintenance and installation of hardware, IT upgrades, and systems for comprehensive enterprise adoption can slow down the industry expansion. Apart from this, in the year 2016, U.S. digital health market in the North America region held the largest market share and is anticipated to dominate the commanding position during the projected timeframe. The growth in the region is largely attributable due to highly developed health IT infrastructure, as well as government initiatives for executing digital health technologies in the healthcare ecosystem. The Japanese market is also no longer behind the North American market. According to the report, digital health market in Japan is expected to grow significantly throughout the forecast period owing to increasing utilization of devices equipped with telehealth technology and mobile health.
Additionally, rising demand for digital health and increasing initiatives to integrate digital technologies in the healthcare system will further boost up the market growth in the region. In the healthcare field, some of the key players that accountable to this immense growth are Allscripts Healthcare Solutions, Athenahealth, AT & T, Biotelemetry, Cisco Systems, Cerner, eClinicalWorks, Koninklijke Philips N.V., iHealth Lab, LifeWatch, McKesson, and Qualcomm.