Global Digital Health Market Is Anticipated To Grow At A Cagr Of 28% To Reach $ 96 Billion By 2025

By Author: Tejashri
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The Global Digital Health Market is anticipated to reach $96 billion by 2025, driven by factors such as Covid-19, favorable reimbursement (CMS codes in the US, Digital Act in Germany, etc.), and an ageing population with chronic diseases. Total corporate funding for digital health market, which includes debt, public market financing, and venture capital, reached $21.6 billion in 2020, an increase of 103% from $10.6 billion in 2019. The way healthcare is provided is rapidly changing because to a unique confluence of emerging technology including wearables, remote vitals monitoring, and artificial intelligence.

Key segments within Digital Health Market include:

Virtual Care including Teleconsultations, Behavioral health amongst others
Remote Monitoring, Digital Diagnostics and Chronic Disease Management
Digital Therapeutics
AI enabled Drug Discovery and Development, Clinical Trials
Other digital care delivery models including digital pharmacies, insurances & clinical decision systems

Companies need to tackle a number of challenges that have historically slowed down the adoption ...
... of digital technologies in healthcare in order to maintain the current growth rate. Some of those challenges are long regulatory pathway, complex & multi-layered reimbursement systems, lack of interoperability, inertia of health systems and physicians and privacy concerns amongst patients.

According to the study, the pandemic has caused significant changes in the adoption of digital tools in a number of areas, and patients, physicians, and health systems now have much more positive outlooks than they had 18 to 20 months ago. Having used digital tools like virtual consultations, remote patient monitoring for chronic diseases, virtual monitoring of certain end-points for clinical trials, the key decision-makers are ready to allocate significant budgets to enable the digital transformation.

Explore Premium Report on Digital Health Market @ https://www.einnews.com/pr_news/545391983/global-digital-health-market-to-reach-96-billion-by-2025-forecasted-to-grow-at-28-cagr-as-per-medi-tech-insights

In the report, we analyze over 200 companies in this sector and assess market size, growth across United States, EU, Middle East, APAC and Latin America.

Virtual Care including Teleconsultations, Behavioral Health & Innovative Delivery Models

Virtual Care Includes virtual primary and specialist consultations, remote behavior health business models and innovative care delivery models. Key companies includes Amwell, Teladoc, Dr on Demand, Doctolib, Tytocare and others.

Remote Monitoring, Digital Diagnostics and Chronic Disease Management

Growing at 25% CAGR includes chronic care management and post-acute care with companies like Medtronic, Vivify, Withings, HRS, Current Health, Zio, iRhythm and over 100 others leading the way care is given in out-of-hospital settings to improve outcomes and reduce costs.

Digital Therapeutics Market

We believe the Prescription Digital Therapeutics (PDT) market is growing +36% year over year and may reach ~$12 billion by 2025. Substance abuse disorder, major depression, insomnia, migraine, pain management, and dieting are areas of interest within PDT. Key companies include Pear Therapeutics, Akili, Gaia, Click Therapeutics and also large Pharma players like Novartis, AstraZeneca, Teva are making headway into this fast-growing segment of digital health.

AI enabled Drug Discovery and Development, Clinical Trials

It typically takes $1-3 billion in R&D costs to develop a new drug and timelines can be as long as 10+ years. The drug discovery and development process are one of the most logical areas for AI-enabled transformation. Companies that are transforming drug discovery and development for pharma include AI-ML enabled platforms of Atomwise, Benevolent AI, Exscientia, Schrödinger and many other companies.

Other Digital Care Delivery, Insurance Models

The digital health market segment includes a variety of subsectors, including improving clinical decision support (Tabula Rasa, Microsoft, IBM, Philips), digital pharmacies (Amazon's PillPack, GoodRx, TabulaRasa), digital insurances (eHealth, Health Equity), improving/automating revenue cycle (R1 RCM, Phreesia, nThrive), and other key areas.

Innovative companies are differentiating from their competitors by fine-tuning their business models, refining their product & service offerings and tailoring pricing strategies based on type of customer segment, geographic coverage, population health metrics & continuum of care offered. Today, there is a unique window of opportunity to tap into this high-growth market by developing the right strategies and leveraging industry acumens.

For More Detailed Insights, Contact Us @ https://meditechinsights.com/contact-us/

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

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