This is primarily on account of the presence of advanced healthcare and medical infrastructure in North America. Presence of a large number of well-established players in this region is likely to continue boosting the digital healthcare Industry in North America. Besides North AmericaEurope and Asia Pacific are also expected to grow at a significant rise in the upcoming years. Rising level of digital knowledge in the U.K. is expected to drive the digital health Industry.
Growth Strategies Adopted by Companies to Aid Expansion
The global digital health Industry covers several playersdemonstrating a competitive vendor landscape. Among thesethe leading players are working continuously to expand their product portfolio and strengthen position in the digital healthcare Industry. Some of the leading companies operating in the global digital health Industry are Allscripts Healthcare Solutions Inc.Agfa-GevaertN.V.Truven Health AnalyticsMcKesson Corp.GE HealthcareCerner Corp.Cisco Systems Inc.PhilipsHealthcareNetApp.Siemens Healthineersand Qualcomm Inc. In the near futurethese companies are anticipated to engage in strategic partnershipsmergers and acquisitionsand agreements to increase their share in the Industry. Alsothese initiatives are adopted to gain a competitive edge in the global digital health Industry.
The Global Digital Health Industryis driven by several factors. “Rising number of government initiatives aimed at promoting digital health solutionswill enable growth in theIndustry,” said a lead analyst at Fortune Business insights. “In the coming yearsthe digital health Industry is estimated to benefit from the uptake of IT in the medical industry,” he added. With the increasing use of smartphones across the worldthe demand for digital health servicesis growing to the rising adoption of health apps.
Other factors such as the rising demand for in-house remote monitoring devices and increasing geriatric population will catalyze growth of the digital health and wellness services. Digital health over the past few years has become a game changer in the digital health industry. Digital health services help in monitoring diseases and provide access to electronic information of patients through tablets or mobiles. Doctors can check the complete digital health record of their patients and accordingly offer the best consultation. All the factors mentioned above are anticipated to boost the digital health Industry during the forecast period.
Although the digital health services are adopted by large number of hospitals across the worldthere are some factors that may harm the growth of the digital health Industry. The high cost associated with the installation of such advanced digital health systems is likely to restrict the Industry to an extent. In addition to thisseveral security and safety concerns with regards to the data exposed digitally may pose serious threat to the digital healthcare Industry.
Some of the major companies that are present in the global digital health Industry are;
Medtronic, GENERAL ELECTRIC COMPANY, Cerner Corporation, McKesson Corporation, Infor, Allscripts, athenahealthInc, Diabetizer GmbH & Co. KG, Cognizant, Dimensional InsightInc, Siemens AGQualcomm Life, 3MIBM CorporationInc, Microsoft, Koninklijke Philips N.V, NVIDIA Corporation, Next IT Corp, Change Healthcare, AgaMatrixInc, LifeWatchNike Inc. and others
Industry Players Are Focusing on Strategic Collaborations to Establish a Stronghold
Cisco and NetApp joined hands with each other in June 2018 to launch FlexPod solutions. Companies worked together to compute networkand store important data and help organizations to accelerate application delivery. In April 2018Digital Health China and Koninklijke Philips N.V. introduced a tele-radiology application platform called SHINEFL. This service platform provides scalable and customizable cloud-based solution for effective image management. Through thisone can viewstoreanalyzeand retrieve medical images even remotely. The clinical applications involved in this platform are majorly for cardiologyoncologyand neurology.