Dublin, May 31, 2024 (GLOBE NEWSWIRE) -- The "Mobile and Digital Health Technologies Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for Mobile and Digital Health Technologies Market, is set to surpass US$250.8 billion in 2024, with strong revenue growth through to 2034.
With smartphones becoming ubiquitous, their integration into healthcare systems has opened up a myriad of opportunities for improving access to medical information, facilitating communication between patients and healthcare providers, and empowering individuals to take charge of their health and wellness. One of the primary impacts of increasing smartphone penetration on healthcare is the proliferation of mobile health (mHealth) applications. These applications range from fitness trackers and symptom checkers to medication reminders and chronic disease management tools. They leverage the capabilities of smartphones, such as sensors, GPS, and connectivity, to collect, analyse, and disseminate health-related data in real-time. For users, these apps provide convenience, allowing them to monitor their health metrics, track progress towards fitness goals, and access personalised health recommendations at their fingertips.
Smartphones have played a pivotal role in advancing telemedicine and remote patient monitoring solutions. Utilising video calls, messaging applications, and secure platforms, individuals can now conveniently consult healthcare professionals from afar, eliminating the necessity for in-person appointments. This is especially advantageous for those with limited mobility, residing in rural regions, or encountering obstacles in accessing traditional healthcare services. Furthermore, the widespread adoption of smartphones presents healthcare providers and organisations with opportunities to augment patient engagement and communication.
Mobile-responsive websites, patient portals, and secure messaging platforms enable seamless interaction between patients and providers, facilitating appointment scheduling, prescription refills, and access to medical records. As of 2024, approximately 4.88 billion individuals are estimated to possess smartphones, marking a rise of 635 million new smartphone users within just the last year (from 2023 to 2024). Stats show in 2019 there were 2.27 billion users, 2020;2.67 billion, 2021; 3.01 billion, 2022; 3.62 billion, 2023; 4.25 billion users worldwide.
Digital Health Technologies Emerging as a Promising Avenue for Addressing the Challenge of Rising Healthcare Costs
The escalating costs of healthcare have become a significant concern globally, prompting a search for innovative solutions to mitigate expenses while maintaining or even improving the quality of care. Digital health technologies have emerged as a promising avenue for addressing the challenge of rising healthcare costs. These technologies leverage digital platforms, data analytics, and communication tools to streamline processes, enhance efficiency, and optimise resource utilisation throughout the healthcare ecosystem.
One of the primary ways in which digital health technologies contribute to cost containment is through the optimisation of healthcare delivery processes. By digitising administrative tasks, such as appointment scheduling, billing, and medical record-keeping, healthcare providers can reduce overhead costs associated with paper-based systems and manual workflows. This proactive approach to healthcare management can help prevent expensive complications, lower hospital readmissions, and enable timely intervention when health issues arise, ultimately decreasing overall healthcare expenses. Additionally, telemedicine platforms facilitate virtual consultations between patients and healthcare providers, often eliminating the necessity for physical office visits.
This not only reduces transportation costs and time spent traveling to appointments but also enables providers to see more patients in a day, thereby optimising their time and increasing practice efficiency. Moreover, telemedicine can enhance access to specialised care for patients in underserved or rural areas, reducing disparities in healthcare delivery and potentially preventing costly complications associated with delayed or inadequate treatment.
Key Market Dynamics
Market Driving Factors
- Growing Adoption of Smartphones
- Advancements in Smart Wearable Devices
- Emergence of Telemedicine and Remote Patient Monitoring Systems
- Favourable Government Initiatives and Regulations
- Increasing Utilization of Connected Devices and Health Apps to Manage Chronic Diseases
- Growing Penetration of 4G & 5G Networks to Ensure Uninterrupted Healthcare
- Rising Focus on Patient-centric Healthcare Delivery
- Increasing Demand for Home Healthcare Services
Market Restraining Factors
- Privacy and Security Concerns
- Lack of Interoperability
- Absence of Established Standards and Regulations Coupled with Inadequate Reimbursement
- Opposition from Conventional Healthcare Practitioners and Restricted Counsel from Physicians
Market Opportunities
- Advancements in Artificial Intelligence (AI) and Machine Learning
- Increasing Prevalence of Chronic Diseases
- Advances in Genomics and Precision Medicine
- Expansion Opportunities in Emerging Markets
Segments Covered in the Report
Technology
- Tele-healthcare
- Telecare (Activity Monitoring, Remote Medication Management)
- Telehealth (LTC Monitoring, Video Consultation)
- mHealth
- Wearables (BP Monitor, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors, Others)
- Apps
- Medical Apps
- Fitness Apps
- Digital Health Systems
- Electronic Health Records
- e-Prescribing Systems
- Health Analytics
Component
- Hardware
- Software
- Services
Application
- Cardiology
- Diabetes
- Obesity
- Neurology
- Sleep Apnea
- Others
End-users
- Healthcare Providers
- Healthcare Payers
- Healthcare Consumers
- Others
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 27 leading national markets.
The report also includes profiles and for some of the leading companies in the Mobile and Digital Health Technologies Market, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- AdvancedMD
- Allscripts Healthcare Solutions
- Apple
- Athenahealth
- AT&T
- BioTelemetry
- Oracle
- Cisco Systems
- eClinicalWorks
- Epic Systems Corporation
- GE HealthCare
- IBM
- iHealth Lab
- Koninklijke Philips
- McKesson
- Omron
- Qualcomm Technologies
- Samsung
- Siemens Healthineers
- Telefonica IoT & Big Data Tech, S.A.U.
For more information about this report visit https://www.researchandmarkets.com/r/qxizcl
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