Digital Medicine Market, By Technology (Mobile Health, EMR/HER, Telehealth, and Wireless Health), By Application (Diabetes, Mental Health, Heart Disease, Smoking, Drug Non-adherence, Obesity, COPD, and Asthma), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2029

Report Code: PMI434520 | Publish Date: October 2022 | No. of Pages: 170

Global Digital Medicine Market Overview

Digital medicine technology is an advanced technology that fulfills the gap between healthcare and digital technology. Rapid evolution in healthcare has introduced the concept of digital medicine which aims to provide individualized medicine by adopting the biology of a patient through wireless sensor technology and other mobile health technologies. This technology is more advanced than the present medical practice. It is more precise, effective, well distributed, equitable, and feasible applied technology. The global digital medicine market accounted for US$ 2.3 billion in 2019 and is estimated to be US$ 18.6 billion by 2029 and is anticipated to register a CAGR of 23.5%.

Impact of Covid-19 pandemic on market

The outbreak of COVID-19 has raised the demand for a number of rapid tests and healthcare providers resulting in a significant shortage of doctors and nurses. As screening is being performed at a massive scale during this outbreak hotspot. There is a high demand for Covid-19 screening, which acts as a crucial factor for revenue growth in this market space. Further, it’s difficult to monitor large patient populations with limited healthcare staff, thus many hospitals are adopting digital health solutions, which is quite obvious in current market movements. This report will quantify the impact of this pandemic on the digital medicine market.

Global Digital Medicine Market Dynamics

Technological advancements in healthcare IT

Rising preference towards smartphones and tablets by healthcare professionals in order to monitor and keep track of patient health is driving the growth of the global digital health market over the forecast period. In addition, rising technological advancements in healthcare IT such as a cloud-based storage system is another major factor expected to drive growth of the target market. For example, growing adoption of the cloud-based electronic medical records in order to share the electronic records with entire healthcare investors for efficient and smooth operation. Moreover, growing government initiatives towards the adoption of numerous healthcare IT solutions such as electronic medical records, remote patient monitoring, e-prescribing systems, and wearable medical devices is also propelling the growth of the digital medicine market.

The rise in number of health apps

Significant growth in the number of health apps is also one of the factors that have driven the growth of the market. For instance, as per data reported by my health apps blog, as of 2017, there were 325,000 medical, fitness, and health apps in the market. Wherein, health apps endorse effective communication between patients living in remote areas and healthcare providers. However, the usage of mobile devices is growing among physicians.

Conversely, rising security concerns associated with patient data is a key factor projected to hamper the growth of the global digital health market over the forecast period. Further, higher capital cost for the installation of technologically advanced systems is another factor anticipated to limit the growth of the target market in the near future.

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Global Digital Medicine Market Segmentation

The global digital medicine market is segmented based on technology, application, and region.

On the basis of technology, the global digital medicine market is segmented into mobile health, EMR/HER, telehealth, and wireless health. Based on the application, the target market is segmented into diabetes, mental health, heart disease, smoking, drug non-adherence, obesity, COPD, and asthma.

 Regional Insights:

In the region, the global digital medicine market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America led the digital medicine market in the coming years, due to the growing prevalence of chronic disease. For instance, as per the data published by the National Center for Biotechnology Information (NCBI) in 2018, chronic diseases are among the most widespread and costly health conditions in the United State. Whereas, about 133 million Americans suffer from at least one chronic disease. The Asia Pacific is projected to register substantial growth over the forecast period, owing to growing expenditure in digital healthcare. Developing economies such as Malaysia and Thailand are also promising the development of low-cost mobile technology.

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Attribute

Details

The base year for estimation

2019

Forecast period

2019 – 2029

Market representation

Revenue in USD Million & CAGR from 2019 – 2029

Market Segmentation

By Technology- Mobile Health, EMR/HER, Telehealth, and Wireless Health

By Delivery Mode– On Premise and Cloud-Based

By Application– Standalone Solutions and Integrated Solutions

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029.  For the purpose of this study, has segmented the global digital medicine market report based on technology, application, and region.

Global Digital Medicine Market, By Technology:

  • Mobile Health
  • Applications For Clinical or Assistance In Diagnosis
  • Remote Monitoring
  • Reminders And Alters
  • Healthy Living Application
  • Productivity Applications
  • References Applications
  • EMR/EHR
  • Telehealth
  • Wireless Health

Global Digital Medicine Market, By Application:

  • Diabetes
  • Mental Health
  • Heart Disease
  • Smoking
  • Drug Non-adherence
  • Obesity
  • COPD
  • Asthma

 Global Digital Medicine Market, By Region:

      • North America
          • U.S.
          • Canada
      • Europe
          • Germany
          • UK
          • France
          • Russia
          • Italy
          • Rest of Europe
      • Asia Pacific
          • China
          • India
          • Japan
          • South Korea
          • Rest of Asia Pacific
      • Latin America
          • Brazil
          • Mexico
          • Rest of Latin America
      • Middle East & Africa
          • GCC
          • Israel
          • South Africa
          • Rest of Middle East & Africa

Global Digital Medicine Market Key Players

The key players operating in the global digital medicine market include Allscripts Healthcare Solutions Inc., eClinicalWorks LLC, Philips Healthcare Informatics, Inc., McKesson Corporation, Cisco Systems, Inc., QUALCOMM Incorporated, AT&T Inc., Apple Inc., AirStrip Technologies, Inc., and Cerner Corporation. Medical device companies are highly collaborating with software developers to launch various monitoring and diagnostic applications, allowing the population to easily communicate with healthcare physicians.

Global Digital Medicine Market Company Profile

  • Allscripts Healthcare Solutions Inc.
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial Performance
    • Business Strategies
  • eClinicalWorks LLC
  • Philips Healthcare Informatics, Inc.
  • McKesson Corporation
  • Cisco Systems, Inc.
  • QUALCOMM Incorporated
  • AT&T Inc.
  • Apple Inc.
  • AirStrip Technologies, Inc.
  • Cerner Corporation

 “*” marked represents similar segmentation in other categories in the respective section

Global Digital Medicine Market Table of Contents

  1. Research Objective and Assumption
    • Preface
    • Research Objectives
    • Study Scope
    • Years Considered for the study
    • Assumptions
    • Abbreviations
  2. Research Methodology
    • Research data
    • Primary Data
      • Primary Interviews
      • Primary Breakdown
      • Key data from Primary Sources
      • Key Thickness Insights
    • Secondary Data
      • Major Secondary Sources
      • Secondary Sources
    • Market Estimation
    • Top-Down Approach
      • Approach for estimating Market Share by Top-Down Analysis (Supply Side)
    • Bottom-Up Approach
      • Approach for estimating market share by Bottom-up Analysis (Demand Side)
    • Market Breakdown and Data Triangulation
    • Research Assumptions
  3. Market Purview
    • Executive Summary
    • Key Findings—Global Outlook for Digital Medicine Strategies
      • Key Questions this Study will Answer
      • Market Snippet, By Technology
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Opportunity Map Analysis
    • Executive Summary—3 Big Predictions
  4. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • DR Impact Analysis
    • PEST Analysis
    • Porter’s Five Forces Analysis
    • Opportunity Orbit
    • Market Investment Feasibility Index
    • Macroeconomic Factor Analysis
  5. Global Digital Medicine Market, By Technology, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Mobile Health
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • EMR/HER
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Telehealth
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Wireless Health
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  6. Global Digital Medicine Market, By Application, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Segment Trends
    • Diabetes
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Mental Health
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Heart Disease
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Smoking
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Drug Non-adherence
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Obesity
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • COPD
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
    • Asthma
      • Overview
      • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
  7. Global Digital Medicine Market, By Region, 2019 – 2029, (US$ Mn)
    • Overview
      • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 – 2029
      • Y-o-Y Growth Analysis (%), 2019 – 2029
      • Regional Trends
    • North America
      • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • Germany
        • UK
        • France
        • Russia
        • Italy
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • China
        • India
        • Japan
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
      • Market Size  and Forecast (US$ Mn), By Country, 2019 – 2029
        • Brazil
        • Mexico
        • Rest of Latin America
    • Middle East & Africa
      • Market Size and Forecast (US$ Mn), By Technology, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
      • Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
        • GCC
        • Israel
        • South Africa
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Presence and Specificity Analysis
  9. Company Profiles
      • Allscripts Healthcare Solutions, Inc.
        • Company Overview
        • Product Portfolio
        • Key Highlights
        • Financial Overview
        • Business Strategies
      • eClinicalWorks LLC
      • Philips Healthcare Informatics, Inc.
      • McKesson Corporation
      • Cisco Systems, Inc.
      • QUALCOMM Incorporated
      • AT&T Inc.
      • Apple Inc.
      • AirStrip Technologies, Inc.
      • Cerner Corporation
      • BGI
  10. The Last Word
    • Future Impact
    • About Us
    • Contact

FAQs

The global digital medicine market is segmented based on technology, application, and region.

Significant growth in the number of health apps is also one of the factors that have driven the growth of the market. Conversely, rising security concerns associated with patient data is a key factor projected to hamper the growth of the global digital health market over the forecast period.

North America led the digital medicine market in the coming years, due to the growing prevalence of chronic disease.

The key players operating in the global digital medicine market include Allscripts Healthcare Solutions Inc., eClinicalWorks LLC, Philips Healthcare Informatics, Inc., McKesson Corporation, Cisco Systems, Inc., QUALCOMM Incorporated, AT&T Inc., Apple Inc., AirStrip Technologies, Inc., and Cerner Corporation.