The global digital health industry size is expected to reach USD 509.2 billion by 2025, expanding at a CAGR of 27.7% over the forecast period, according to a new report by Grand View Research, Inc. Growing adoption of mHealth technologies by physicians to prescribe for self-management of chronic illness, such as diabetes, has propelled the growth of the market. For instance, Glooko is specifically used for management of diabetes. Availability of such apps in smartphones makes it easier for healthcare professionals to access patient information and diagnose diseases. Furthermore, increase in penetration of smartphones and internet connectivity are the key factors driving the market.
Growing need for improving workflow efficiency in hospitals and other healthcare centers is propelling the demand for mHealth services in healthcare administration. For instance, Results SMS in Uganda is an open source SMS-based platform providing appointment reminders. It gives appointment reminders as SMS to patients. In addition, mHealth services are disseminating essential medical information to healthcare professionals, which, in turn, is driving their adoption in healthcare communities as these help in training, updating, and educating about diagnosis and treatment.
Additionally, increasing pressure from the governments to reduce cost and rising demand for improved patient care are resulting in an increase in the demand for electronic health record (EHR) system. Recent advancements in EHR technology with the inclusion of interoperability, mobile, cloud, and big data are propelling the demand for advanced EHRs in the market. Companies are increasingly investing in developing innovative technologies in EHRs, which, in turn, is expected to boost demand in the market. For instance, in 2018, Allscripts launched Avenel, which is a mobile-first, cloud based EHR that uses machine learning to reduce time in clinical documentation and works more like an app.
Further key findings from the study suggest:
- In 2018, the mHealth technology segment held the largest revenue share owing to rising adoption of mHealth technologies among physicians and patients, increasing trend of preventive healthcare, and rising funding for mHealth startups
- Digital health systems occupied the second largest revenue share in 2018 owing to rising government initiatives to promote digital health, resulting in an increased adoption of digital systems among healthcare systems
- North America held the largest revenue share in 2018 owing to rapid growth in adoption of smartphones, advancements in coverage networks, rise in the prevalence of chronic diseases, and increase in geriatric population
- Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to increasing penetration of smartphones and smart wearable devices and rising adoption of mHealth services
- Key players operating in the digital health market include Apple Inc.; AirStrip Technologies; Allscripts; Google Inc.; Orange; Qualcomm Technologies Inc.; Mqure; Samsung Electronics Co. Ltd.; Telefonica S.A.; Vodafone Group; Cerner Corporation; and McKesson Corporation.
Access full research report on global digital health industry:
www.grandviewresearch.com/industry-analysis/digital-health-market
The global medical automation industry is expected to reach USD 79.4 billion by 2024, according to a new report by Grand View Research, Inc.
For example, the automation of tedious tasks such as sampling, monitoring of quality, quantity, packaging and labeling, and scanning of medicines and devices, have reduced human efforts and increased speed and accuracy, which has led to increased dependency on these automated systems.
Moreover, the growing global prevalence of chronic conditions such as diabetes, cancer, arthritis, and chronic obstructive pulmonary disease (COPD) is further pushing the demand for therapeutic, laboratory and pharmacy automated medication systems, which are faster and more productive.
The aforementioned factors are responsible for creating the need for automated medical equipments over the forecast period.
For instance, automation in the following pharmacy-based functions, medication dispensing, storage, and retrieval enables traceability and tracking, which in turn improves patient safety and reduces errors.
Furthermore, there is an increased focus on incorporating automation in hospitals due to the associated benefits, such as reduction of errors and operational costs; these factors altogether are expected to present this market with high growth opportunities in the near future.Further key findings from the study suggest:The therapeutic segment was observed to dominate in terms of revenue share in 2015owing to the high usage rate of automated devices in the non-surgical procedures, such as external defibrillators, an implantable cardioverter, and wearable/ implantable drug pumps On the other hand, the medical logistics and training segment is expected to grow at a lucrative CAGR of over 10.0%.
The global nurse call systems market was valued at $ 1,114 million in 2016, and is projected to reach at $ 1,972 million by 2023, growing at a CAGR of 8.5% from 2017 to 2023.
The wired nurse call systems segment accounted for more than four-sevenths share of the total market in 2016.Click Here To Access The Sample Report @ https://www.alliedmarketresearch.com/request-sample/2393Nurse call system is a type of alarm system used in hospitals for alerting nurses in case a patient needs assistance.
These systems have reduced waiting time for patients, provide hotel like caretaking experience, and enable nurses to focus on patient care.
In addition, constant technological developments, large pool of geriatric population, rise in incidence & prevalence of chronic diseases, and increase in government healthcare expenditure globally drive the market growth.
However, stringent government regulations are expected to restrain the market growth during the forecast period.Based on technology, the wired systems market segment held the highest share in 2016, owing to the less complexity, high reliability to setup wired nurse call systems, and low maintenance compared to wireless nurse call systems.Based on equipment, the integration communication systems held the highest market share in 2016, owing to the increasing investments in hospitals and advance technology; however, mobile systems are easy to use and are more preferred by consumers and have witnessed the highest CAGR.Based on application, the emergency medical alarms segment contributes to the highest market share in 2016, owing to the quick response assistance in case of emergency.Based on end-users, the hospitals segment accounted for the highest market share in 2016, owing to the increase in number of hospitals worldwide and rise in government expenditure in healthcare sectors.North America accounted for more than two-fifths share in 2016, and is expected to dominate the market throughout the forecast period and is attributed to increase in incidence of chronic diseases due to rise in geriatric population and well-established healthcare systems.
In addition, lucrative growth opportunities in the emerging countries is anticipated to provide new growth opportunities for the key players in the market.
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