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SAN FRANCISCO, Oct. 14, 2022 /PRNewswire/ — The global digital health market size is expected to reach USD 1.5 trillion by 2030 and is expected to expand at a CAGR of 27.7% over the forecast period, according to a new report by Grand View Research, Inc. Advancements in the internet connectivity, growing smartphone penetration, rising healthcare IT expenses, developing IT infrastructure, technology readiness, a growing shortage of healthcare providers, overburdened healthcare facilities, and rising medical expenses are driving the market growth.
Key Industry Insights & Findings from the report:
- The market size is anticipated to be valued at USD 1.5 trillion by 2030, owing to the improving internet coverage, growing chronic disease prevalence, increasing smartphone penetration, growing demand for virtual care, and increasing access to healthcare.
- Tele-healthcare segment dominated the global market in 2021 with a market revenue share of 37.6%, due to increasing preference for remote patient monitoring services and a shortage of healthcare professionals.
- By component, the services segment dominated the global market with 45.6% of market revenue share in 2021, owing to the growing demand for pre-installation and post-installation services.
- North America dominated the market by region in 2021 with a revenue share of 45.9%, owing to the rapidly developing healthcare IT infrastructure, the emergence of startups, growing funding options, and improving technological literacy.
Read 150 page full market research report, “Digital Health Market Size, Share & Trends Analysis Report By Technology (Healthcare Analytics, mHealth), By Component (Software, Services), By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Digital Health Market Growth & Trends
Additionally, increasing demand for remote patient monitoring services, the growing prevalence of chronic diseases, and the increasing accessibility of virtual care services is propelling the market to move forward at a significant rate. The growing trend of digitalization in healthcare is being supported by growth in public-private partnerships, the emergence of start-ups, and favorable government initiatives.
The tele-healthcare segment dominated by technology in 2021 with a market revenue share of 37.6%, due to the rising adoption of telehealth platforms by physicians and providers. In addition, the growing inclination toward digital communication and information technologies for virtual home health services also supporting to the segment growth. The services segment dominated the market by component in 2021 owing to the growing demand for pre-installation and post-installation services covering staffing, training, …
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