Global Digital Health Market was Valued at US$ 85.0 Billion in 2017 and is Predicted to Grow at a CAGR of 23.8% Between 2018 and 2026

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Digital Health
Digital Health

Digital health combines innovative technologies with digital, mobile, and cloud-based platforms to provide patients with better healthcare. Telemedicine and telecare are examples of digital health platforms that allow health providers to communicate with patients. For healthcare providers, digital health synergies give the appropriate information at the right time in the right location. Mobile health (mHealth), health information technology (IT), wearable devices, telehealth and telemedicine, and personalized medicine are all examples of digital health. Patients, health care practitioners, researchers, medical device industry businesses, and mobile application developers (mHealth providers) are all brought together on a digital health platform to make the healthcare system more efficient.

The Digital Health Market will rise due to an aging population, the development of chronic diseases, and the necessity for constant monitoring. The global population is slowly increasing in median age, with a growing number of people reaching the age range of 60 and beyond. According to the United Nations Population Prospects Report published in 2017, the world's population of adults aged 60 and up is predicted to be 962 million (13 percent of the global population). The population of people aged 60 and more is expanding at a rate of around 3% each year, and it will reach 1.4 billion by 2030. With such a large number of elderly people, digital health platforms like telecare would be quite beneficial.

Digital Health Market has a number of advantages, including the ability to eliminate inefficiencies, improve access to healthcare services even in remote locations, lower healthcare costs, improve the quality of care, and make medicine more personalized and efficient for patients. Self-monitoring of health parameters by patients and remote monitoring of these parameters by health care providers are both possible with digital health platforms like mHealth.

Another major driver for the optimistic Outlook of the Digital Health Market over the forecast period would be the rising prevalence of chronic diseases and the requirement for ongoing monitoring. According to World Health Organization figures from 2017, chronic disease claims the lives of roughly 40 million people each year, accounting for 70% of all fatalities worldwide. Cardiovascular disease kills 17.7 million people per year, followed by cancer (8.8 million deaths), respiratory disorders (3.9 million deaths), and diabetes (3.9 million fatalities) (1.6 million deaths).

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