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U.S. Digital Health Market Size, Share & Trends Analysis Report By Technology, By Component And Segment Forecasts, 2022 - 2030

U.S. Digital Health Market Size, Share & Trends Analysis Report By Technology, By Component And Segment Forecasts, 2022 - 2030

  • March 2022
  • 171 pages
  • ID: 6195324
  • Format: PDF
  • Grand View Research

Summary

Table of Contents

U.S. Digital Health Market Size, Share & Trends Analysis Report By Technology (Tele-healthcare, mHealth, Healthcare Analytics), By Component (Services, Software), And Segment Forecasts, 2022 - 2030

U.S. Digital Health Market Growth & Trends

The U.S. digital health market size is expected to reach USD 549.1 billion by 2030, registering a CAGR of 26.9% over the forecast period. The improvement in internet coverage facilities and innovation of smartphones is anticipated to drive the digitalization of healthcare organizations. The growing awareness regarding maintaining a healthy lifestyle is also driving the adoption of mHealth apps among consumers. The favorable technology-friendly consumer base looking forward to accessing healthcare and medical assistance through digital health solutions and the improved healthcare IT infrastructure in the U.S are expected to accelerate the market growth over the coming years.

The high adoption of digital health platforms by the service providers to actively engage their patients and improve quality of care by easily accessing patient information is supporting the market growth.The COVID-19 pandemic has also exposed the care gaps of the existing treatment process, which, in turn, is driving the adoption of virtual and digital healthcare solutions.

The telehealthcare technology segment dominated the market in 2021 owing to the growing adoption of digital communication technologies, such as mHealth, telehealth, and telecare platforms. The increasing preference for remote patient monitoring services due to the emergence of the COVID-19 pandemic also accelerated the market growth in the U.S.

In addition, the shortage of medical professionals and increasing preference for remote patient engagement by the healthcare providers using telehealth platforms will support the segment growth.Moreover, the preference of the hospitals to connect with patients using telehealth platforms and improve provider-patient interactions to offer quality healthcare services accelerates the segment growth.

The services component segment dominated the market in 2021owing to the high adoption of digital healthcare platforms coupled with the demand for installation, maintenance, and training & development services. However, the software segment is anticipated to record the fastest CAGR over the forecast period.

This is attributed to the rapid adoption of healthcare software solutions to streamline workflows, reduce healthcare expenses & costs, and eliminate data siloes.The growing burden of the COVID-19 pandemic and the government-imposed shutdown and lockdowns created multiple challenges for the normal functioning of healthcare systems in the country.

The decline in face-to-face health consultation due to the fear of virus transmission, in turn, increased the demand for virtual consultations.In addition, the improved healthcare IT platforms in the country also supported better patient-provider engagement and remote patient monitoring services.

The high internet penetration further boosted the adoption of telehealth platforms and mHealth applications, which drove the market growth during the COVID-19 pandemic.

U.S. Digital Health Market Report Highlights
• The telehealthcare technology segment led the overall market in 2021 due to the high adoption of digital communication technologies, such as mHealth, telehealth, and telecare platforms
• The services component segment accounted for the maximum revenue share in 2021 due to the increased adoption of digital healthcare platforms coupled with the high demand for installation, maintenance, and training & development services
• Key market players use various strategies, such as providing free teleconsultation services, to increase their market penetration
• For instance, service providers, such as CareClix, Callondoc, Galileo Health, Health Tap, K Health, etc. are now offering free live, virtual healthcare visits for patients with COVID-19 symptoms

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