Citing an instance of the aforementioned fact, recently, London ranked first in the number of digital health deals made in 2017, with 22 deals amounting to $189 million. Beijing digital health companies raised the most revenue with $647 million, while Israel was designated a leader in terms of both money and the number of deals forged. Other cities like Paris, Shanghai, Bangalore and Toronto had also raised over $100 million.
Remote medication and patient behavior observation has for long been a remunerative part of digital health market. In fact, a new sector of this vertical that has registered a profitable traction is digital therapeutics or digiceuticals. An instance of a prominent digital therapeutics company is HealthBeacon that is aiming to bring its funding to a total of €8 million with a goal to launch into 11 markets in 2018. HealthBeacon uses its app to treat diseases by modifying patient behavior and providing remote monitoring to improve long-term health outcomes.
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Digital health is paving the path for individual data to be collected, stored, integrated and analyzed by sophisticated and accurate algorithms in the cloud, enabling doctors to identify trends that can not only treat diseases but predict and prevent them. Driven by the mammoth growth prospects that digital health industry is characterized by, medical care stakeholders are putting in massive efforts to advance the expansion of this business space. With the pervasive presence of wearable devices, cell phones, smartphone sensors, data analytics and cloud storage in today’s digitally advanced technological ecosystem, digital health market has more opportunities of growth than ever before. This is quite evident from the fact that digital health industry size has been projected to register a CAGR of 28% over 2018-2024.
Digital therapeutics thus differs from basic wellness apps by being tailor-made to cater to specific chronic ailments like rheumatoid arthritis or cancer. Though not entirely curable, the severity of such diseases can be controlled and limited by modifying the manner in which patients afflicted with such illnesses conduct their lifestyle. A major difference can be achieved in health outcomes when the expertise of such digital health platforms is combined with human interaction and coaching. As more and more companies continue to invest in this space, digital therapeutics will emerge as a prominent vertical of digital health market.
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The recent decades have witnessed an augmented development in terms of technology – a trend that has propelled digital health market to traverse a path of exponential growth. In the present healthcare industry scenario, a patient can schedule an appointment with the doctor, seek medical advice, view medical records, and fill a prescription without ever having to step outside the house. From robotics going ahead to transform surgical procedures and 3D printers printing human organs, the healthcare industry has come a long way, paving the path for digital health market expansion.
Chapter 1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
188.8.131.52. Paid sources
184.108.40.206. Unpaid sources
Chapter 2. Executive Summary
2.1. Digital health market industry 3600 synopsis, 2014 – 2025
2.1.1. Business trends
2.1.2. Technology trends
2.1.3. Regional trends
Chapter 3. Digital Health Market Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2014 – 2025
3.3. Industry impact forces
3.3.1. Growth drivers
220.127.116.11. Increasing use of smartphones, tablets, and other mobile platforms
18.104.22.168. Rapidly moving healthcare IT infrastructure in industrialized nations
22.214.171.124. Favorable government initiatives in U.S. and European region
126.96.36.199. Rising demand for remote patient monitoring services
188.8.131.52. Growing venture capital investments
3.3.2. Industry pitfalls & challenges
184.108.40.206. Security concerns regarding patient data
220.127.116.11. High capital expenditure and maintenance requirement
3.4. Growth potential analysis
3.4.1. By technology
3.5. Market entry landscape
3.6. Regulatory landscape
3.7. Technology landscape
3.7.1. Upcoming technologies
3.8. Porter’s analysis
3.9. Competitive landscape, 2017
3.9.1. Company market share analysis, 2017
3.9.2. Strategy dashboard
3.10. PESTEL analysis
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UK digital healthcare market is forecasted to reach USD 28.3 billion by 2025. Early adoption of telecare service, large central government programs for telecare and a strong existing base of hardware, increasing prevalence of smartphone and apps will escalate UK market size. UK is an attractive country for app developers, with high levels of digital knowledge and quick adoption, and presence of number of mHealth app companies drives the digital health market in UK.
India digital healthcare market will grow at 35.0% CAGR during the projection period; due to increasing prevalence of chronic ailments coupled with rising demand for remote patient monitoring services in the country. Favorable government initiatives such as Digital India will augment industry growth over the coming years.
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