US Digital Health Market (by Technology & Component): Insights & Forecast with Potential Impact of COVID-19 (2023-2027)

US Digital Health Market (by Technology & Component): Insights & Forecast with Potential Impact of COVID-19 (2023-2027)
The U.S. digital health market is predicted to reach US$309 billion in 2027, progressing at a CAGR of 28.40%, over the period 2023-2027. The factors such as increasing geriatric population, growing usage of mobile devices, surging prevalence of arthritis, hike in healthcare expenditure, expanding urbanization and mounting penetration of internet users would drive the growth of the market. However, the market growth would be challenged by high capital cost and installations, lack of interoperability and data breach and security concerns. A few notable trends include upsurge in the number of healthcare apps, surging occurrence of chronic diseases, escalating penetration of electronic health record (EHR) systems and increasing importance of wearable devices.

The U.S. digital health market has been segmented on the basis of technology and component. In terms of technology, the U.S. digital health market can be bifurcated into mHealth, digital health systems, health analytics and tele healthcare. Whereas, the market can be split into services, hardware and software, on the basis of component.

The mHealth segment is the fastest growing market, owing to rapid digitalization, mounting occurrence of chronic diseases such as cardiovascular diseases and diabetes in the region, various technological advancements in the healthcare industry coupled with recent advancements in wearable technologies and high internet usage. In addition, the growing number of COVID-19 cases across the region in 2020, escalated the adoption of digital health solutions to maintain social distancing and to improve the communication between patients and healthcare professionals during the pandemic.

Scope of the Report: The report provides a comprehensive analysis of the U.S. digital health market segmented on the basis of technology and component. The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. The competitive landscape of the market, along with the company profiles of leading players (Apple Inc., McKesson Corporation, Alphabet Inc., Cisco Systems, Inc., Cerner Corporation and Allscripts Healthcare Solutions, Inc.) are also presented in detail.Key Target Audience: Digital Health Service Providers Digital Health Software & Hardware Manufacturers Healthcare Institutions & Health-related Companies Research and Consulting Firms as well as Venture Capitalists Government Bodies & Regulating Authorities