The North American digital health market had accounted for the most significant share in the global market and occupied a market share of 43% in 2020. The North American digital health market size was worth USD 39.4 billion in 2020. The digital health market size in North America is projected to grow at a CAGR of 31% from 2022 to 2027. During the forecast period, the U.S. digital health market size is predicted to be growing at a CAGR of 29.8%.
Digital health combines healthcare methodology with information systems for an enhanced recuperation experience for the patient. Digital health uses advanced innovation and connectivity and converging information, for example, understanding history and ensuring a quality treatment administration to its clients.
A growing number of Smartphone users across the region is the main key driving factor for the North America Digital Health market growth. In addition, increasing incidences of chronic diseases and the aging population are expected to fuel demand for enhanced remote patient monitoring solutions and services. According to a recent report published by the National Health Council, chronic diseases affect approximately 133 million Americans, which is 40% of the population. Some other factors like rising healthcare costs, government intervention in improving the quality of patient care, and improving health care services.
However, stringent regulatory norms in the United States and the threat of data privacy are hindering the market's growth. Lack of awareness regarding the benefits of adopting digital health care services is hindering the growth rate of the market in North America.
This research report on the North American digital health market has been segmented and sub-segmented into the following categories:
By Technology:
By Component:
By Country:
Regional Analysis
Geographically, the North American digital health market is forecasted to witness a healthy CAGR during the forecast period. For instance, according to the United Nations world population aging report 2019, a total of around 200 million people are aged 65 years or above. And it is estimated to reach 28% of the total population by 2050. Besides, government help and joint efforts with app developers and healthcare providers to concoct better advanced digital solutions.
The United States Digital health market is leading the market due to the high prevalence of chronic diseases. In 2016, the US government health IT ventured to fund approximately 1.3 Billion to develop new mobile healthcare applications. In October 2019, American well partnered with Cleveland clinic to form a new joint venture, ‘The Clinic’. The objective of this venture is to provide virtual health care services to patients who are not in a position to visit health care centers. A large number of COVID-19 cases is one driving factor as people are opting for various digital health services for diagnosis and treatment purposes.
On July 13, 2020, Allscripts and Microsoft have announced the augmentation of their long-standing vital collusion to empower the extended turn of events and delivery of cloud-based wellbeing IT solutions.
The Canadian digital health market is estimated to hike at a steady CAGR from 2022 to 2027. Canada ranks fourth in global health and biosciences centers. There is a narrow window of opportunity to exploit its innovation investments and these global trends. Emerging digital technology is a relative term, capturing new technology currently being developed or developed over the next five to ten years. These are the opportunities estimated to accelerate the adoption and use of emerging digital health technologies in Canada.
KEY MARKET PLAYERS:
Some of the companies playing a promising role in the North American digital healthcare market profiled in this report are Apple Inc., AirStrip Technologies, Google Inc., Orange, Allscripts Healthcare, LLC, Mckesson Corporation, Athenahealth Inc., At&T Inc., Biotelemetry, Inc., Cerner Corporation, Cisco Systems, Inc., Koninklijke Philips Nv, Eclinicalworks, Ihealth Lab, Inc. and General Electric Company.
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