Integration of information technology based services and electronic communication with the healthcare sector to improve medical services is referred to as ‘digital health’. The integration has enabled medical professionals to reach patients remotely. This factor has accelerated entire healthcare.
With the advent of the digital health market, an individual can easily book an appointment online and discuss medical concerns and associated symptoms. As a result, routine will not be disturbed. In case of some serious medical condition, the individual could meet the doctor as per convenience. Even when the individual goes to meet the doctor, the waiting time could be saved by tracking the number of patients remaining ahead.
Furthermore, application of digital health enables to save records of a patient's health. This removes the dire need to carry previous prescription and health records at the time of consultation. This is one of the key factors influencing the digital health market.
All these services are facilitated with the help of smartphones and mobile-based health apps. Penetration of smartphones in various regions across the world has propelled the digital health market globally.
Besides proactive healthcare facilities, the digital health market has also been supporting preventive health measures. People can access various health related information from health apps, and by consulting a doctor from the comfort of home. As a result, risk of diseases can be mitigated.
Also, any discomfort or unusual changes related to health can be immediately reported to a medical professional. Hence, the medical condition can be checked and treated at initial stage. Thus, digital healthcare service is aiding to control mortality rate globally. Besides time-saving and decreasing mortality rate, adoption of digital health has enabled access to cost-effective and efficient diagnostics and therapeutics facilities.
Accounting for all the changes in the healthcare sector due to digitalization, market analysts have predicted healthy growth. As per a report published by Transparency Market Research, the global digital health market is estimated to escalate at a robust CAGR of 13.40% between 2017 and 2025. The market value is estimated to reach US$ 536.6 bn by the end of 2025.
Further, rise in geriatric population worldwide and increasing incidence of chronic diseases such as diabetes and cardiovascular diseases are propelling adoption of digital healthcare services in various healthcare facilities. As a result, the digital health market is witnessing exponential growth rate.
Meanwhile, the outbreak of COVID-19 has fuelled demand for digital healthcare services extensively. The disease is highly transmissible in nature. Novel coronavirus can even get transmitted from one individual to another individual via touch. In this phase, application of digital based health services may minimize the spread rate.
Also, the launch of Arogya Setu app is a one major example of digital health initiative. The app is enabling people to track COVID-19 positive people and most affected areas. As a result, the app has aided to control the containment rate of the disease.
About the author:
Nilesh Londhe is SEO Executive at Transparency Market Research
Image courtesy of Digital Hermes