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North America Digital Health Market Size Remuneration to Surpass $261.0 Bn by 2026

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According to the Graphical Research new growth forecast report titled “North America Digital Health Market Size By Component [Hardware, Software, Services], By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors), Apps (Medical, Fitness)}, Health Analytics, Digital Health System (EHR, e-prescribing System)], Industry Analysis Report, Country Outlook (U.S., Canada)”, Estimated To Exceed USD 261.0 Billion By 2026

Growing number of COVID-19 cases has led to strict social distancing measures by government. Due to these restrictions, physicians started using digital health technologies such as telehealth to treat patients. Also, patients can get access to various healthcare services at home by using digital health services. Similarly, the burden of non-emergency hospital visits has reduced due to the use of digital health technologies. Moreover, various government initiatives such as R&D funding for healthcare IT and awareness programs are anticipated to boost the digital health market growth. 

Technological advancement is one of the major factors driving the North America digital health market growth. Major players in the market are investing in developing innovative medical solutions realizing the demand from consumers and customers. Additionally, companies undertake various strategies such as merger, acquisition to expand product portfolio through sustainable investments and launching new products in the market. Advancements in digital solution is driving the market growth. However, security concerns regarding patient data may restrain the market growth.

On the basis of technology, the North America digital health market is classified into telehealthcare, mHealth, health analytics and digital health system. Telehealthcare is further segmented into telecare and telehealth. Telehealth is classified into LTC monitoring and video consultation. The telehealth segment will show a significant growth of 29.2% during the forecast period. Patient suffering from chronic diseases or illness consults physicians remotely through an audio-visual communication setup. Teleconsultation services are available in various health facilities in the region to cater to the needs of larger patient base in remote areas. Telehealthcare provides advanced facilities for patients in case of emergency services and illness that reduces overall cost. All such factors increase the demand of digital health services, thus foresting the segmental growth.

On the basis of component, the North America digital health market is classified into hardware, software and services. The service segment accounted for market share of over 37% in 2019. Increasing number of covid-19 cases has created a need for various digital health vendors to provide services for remote patient monitoring and consultation. Patients are preferring digital health services to lower the risk infection spread. Also growing number of healthcare services in areas of fitness and medical apps will increase the demand for digital health services, thereby propelling the segmental growth.

The U.S. digital health market is expected to reach USD 239 billion by 2026. High growth is attributable to increasing number of smartphones users, growing prevalence of chronic diseases and advancement in coverage networks Also, growing number of geriatric populations and preference for home care in the region will drive the demand for digital health solutions. Additionally, increasing adoption of digital health tools such as EHRs and e-prescription to minimize the use of paper and growing need to minimize the healthcare cost will play a pivotal role in the growth of digital health market across U.S.

Major market players operating in digital health industry are Allscripts Healthcare Solutions Inc, BioTelemetry, Cisco Systems and Honeywell International Inc, among others. These market players focusing on various business strategies such as collaboration, geographic expansion to strengthen their market position. For instance, in June 2019, Allscripts acquired ZappRx that is the digital health startup company. This acquisition increased the company’s revenue and growth.

North America Digital Health market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:

North America Digital Health Market, By Technology, 2015-2026 (USD Million)

  • Telehealthcare
    • Telecare
      • Activity monitoring
      • Remote medication management
    • Telehealth
      • LTC monitoring
      • Video consultation
  • mHealth
    • Wearable
      • BP monitors
      • Glucose meter
      • Pulse oximeter
      • Sleep apnea
      • Monitors
      • Neurological monitors
      • Others
    • Apps
      • Medical
      • Fitness
  • Health analytics
  • Digital health system
    • EHR
    • E-prescribing system

North America Digital Health Market, By Component 2015-2026 (USD Million)

  • Hardware
  • Software
  • Services

The above information is provided for the following countries:

  • North America
    • U.S.
    • Canada