Digital health and wellness refers to physical, social and emotional well-being in a technology driven world. The rise in digital adoption around the world is a factor supporting the growth of the market.
NEW YORK, March 2, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the Digital Health and Wellness Market – Global Perspectives and Forecast 2023-2028 – https://www.reportlinker.com /p06425875/ utm_source=GNW Digital Wellbeing is critical to balance and health decisions through devices, including the technologies people use for their wellbeing. Factors such as the rise of smartphone use, the development of network coverage and the growing availability of the Internet that affect physical and mental well-being are driving the digital health market in North America. In addition, increased research and development funding to introduce safer products with differentiated functions will fuel the growth of the U.S. digital health and wellness market in the coming years. A key driver of health and wellness programs in the US is the treatment of physical and mental illnesses or disorders such as schizophrenia, alcohol use disorder, bipolar disorder, bipolar disorder, depression, anxiety, and more. Key Winning Markets for Global Digital Health and Wellness • Adoption of medical robotics is accelerating with the increased use of advanced technology platforms in hospitals, making medical robotics more sophisticated, efficient, accurate and affordable. Learning and solutions for individual well-being with the help of AI. • The superior use of wearable monitoring devices opens up a new dimension to medical, health and fitness applications, placing them in an even more important category of wireless networks called wireless body networks (WBANs). Market Trends and Opportunities Expanding Telehealth Adoption Telehealth has been a mainstay of technology-assisted care, helping hospitals, healthcare systems and group practices deliver quality care at a distance, and often increasing efficiency, patient satisfaction and cost savings. In addition, the COVID-19 pandemic has severely undermined the capacity of healthcare systems, thereby expanding the capabilities of telemedicine. Due to the COVID-19 pandemic, virtual care and remote monitoring have never been used as widely as they are today. Healthcare providers across the country are using new technology to provide assistance, practicing social distancing to prevent the spread of the coronavirus as federal policy removes many of the regulatory and reimbursement hurdles that hinder wider adoption of telehealth. • Robots developed by InTouch Health, iRobot and Vecna Technologies can replace doctors in remote clinics, community health centers, cruise ships, schools, sporting events and even small hospitals. For example, iRobot, a leader in robotics, has created the Remote Presence Virtual Independent Telemedicine Assistant (RP-VITA), the first autonomous telenavigation robot. Data analytics increasingly impacts health Data-driven decision making is becoming a necessity of the moment and well-being is being rethought. Data analytics and technology are playing an increasingly important role as the industry shifts from measuring health care costs to a greater focus on healthy lifestyles. Make multiple investments in technology and expand your ability to use big data to evaluate your actions. Big data can give healthcare professionals insight into patterns that are often difficult to detect. It aims to improve clinical outcomes through preventive care, early diagnosis, and a personalized, consumer-centric approach. Data from multiple sources, such as customer data from pharmacies, patient records, hospitals, mobile phones, and web searches, provides a wealth of data that can be used for clinical purposes, offering the best growth opportunities for the digital health and wellness market. The growing penetration of smartphones and mobile health apps has led to dramatic changes in the psychographic and demographics of the population over the past few years. Factors such as the rise in smartphone and tablet use in developing countries have led to increased participation in health and wellness programs. Android and iOS are becoming more and more popular in countries, especially in Africa. In addition, the large population base of several Asia-Pacific countries such as China and India offers significant growth opportunities for the digital health and wellness market. Continuous innovation and development has resulted in more affordable smartphone options. Various smartphone manufacturers in the Chinese market are developing low-cost products. Moreover, the overall price of smartphones is much lower than that of PCs and game consoles, which has led to greater use of smartphones in health and wellness programs, thus stimulating the digital health and wellness market. Moreover, rising disposable income has allowed people to buy smartphones instead of traditional mobile devices, which has led to an increase in the number of health and wellness plan operators, thus stimulating the market. Industry Constraints Data Security and Privacy Risks Security and privacy risks are one of the major concerns in the digital health market due to the nature of data and how providers use it, which is vulnerable to cyberattacks and data theft. Telemedicine platforms, including wearable and connected medical devices, smartphones, tablets, and remote patient monitoring systems (e.g., other computer systems), are vulnerable to potential hacks and security breaches that could affect the security of the overall outcome of the adverse effects of telemedicine services. about sex and efficiency. A look at the digital health and wellness segmentation The digital health sector is predicted to become the largest digital health and wellness market in the world. Digital health or digital health is a broad interdisciplinary model that includes concepts of the link between technology and health. It includes digital care programs and technologies related to health, healthcare, life, and society to improve healthcare delivery and make medicine more personalized and accurate. In addition, digital health leverages the digital transformation in healthcare to integrate software, hardware, and services. The digital health segment accounted for 56.50% in 2022 and is expected to reach 248.22% by 2028 in absolute terms. . The share of the digital health and wellness software and services segment will be 61.24% in 2022, and it is expected that by 2028 the absolute growth will be 241.55%. The software industry provides numerous services to the healthcare industry. The advent of medical software has reduced paperwork and allowed healthcare providers to devote more time to primary care and patient care. Electronic Health Records (EMR), Patient Interaction Software (PES), Electronic Health Records (EHR), and other software enable healthcare professionals to effectively manage patient data. Organizations can also create custom health software tailored to the needs of the organization. The use of such software allows clinical professionals to effectively manage their practice. Segmentation by Type • Software & Services o eHealthomHealth • Wearable Devices Wearable Device Statistics In 2022, the global market for digital medical wearable devices is valued at USD 129.84 billion. The variety of wearable technologies includes charging for fitness trackers such as Fitbit, VR headsets, smart jewelry, connected glasses, smartwatches and Bluetooth headphones. The most common types of wearable devices are smart glasses and smart watches. These wearable devices collect information in real time. In addition, they have motion sensors that allow you to take screenshots of daily activities and sync them with mobile devices or laptops. The market is expected to drive the market growth at a faster pace due to the growing healthcare awareness and the growing focus on continuous real-time monitoring of patient health parameters before and after surgery. Wearable Device Segmentation • Headphones • Smart Watch • Smart Patch • Head-Up Display • Wristband • Smart Wear AGE GROUP INSIGHTS In 2022, the global digital health and wellness market share for adults will be 45.93%. Various sports and physical culture activities. Thus, digital technologies help to check many parameters during high-intensity training. In addition, signs of psychiatric disorders in adults include fear or anxiety, substance use, mood swings, and suicidal thoughts. Age Group Segmentation • Pediatric • Adult • Geriatric Health Provider Information The global digital health and wellness market is segmented by health care providers into hospitals, home care agencies and individuals, outpatient surgery clinics and centers, etc. Hospitals are shifting to digital platforms for healthcare delivery and patient care. With the introduction of telemedicine, healthcare providers are implementing telemedicine platforms to connect healthcare services such as video consultations, patient interactions, and remote patient monitoring to improve clinical outcomes. Integrated Telemedicine allows hospitals to leverage existing hospital IT infrastructure to optimize care delivery. Rapid advances in technology along with demographic and economic changes will transform hospitals around the world. Increasingly, inpatient health care services are being transferred to the home and outpatient facilities. Digital and artificial intelligence (AI) technologies enable on-demand interactions and seamless processes to enhance the patient experience. Segmentation by healthcare provider • Hospitals • Home care agencies and individuals • Clinics and ambulatory surgery centers (ASC) • Other geographic analysis • Asia Pacific dominates the global digital health market. The main factors driving the growth of the market in the Asia-Pacific region include an increase in the prevalence of mental disorders, an increase in the geriatric population, and an increase in healthcare costs. China and India have the largest number of diabetic patients compared to other countries. The development of telemedicine in China is comparable to the development of India, where the population is the same, there are many rural areas and a limited number of medical facilities. In addition, the load is expected to continue to increase over time. Therefore, managing the overall health of these patients becomes critical, and these reasons are expected to drive demand for weight management and fitness monitoring. • Digital health and wellness in Europe worth $65.82 billion in 2022. The growth of the region is mainly due to the growing demand for technologically advanced systems and automation for healthcare research and development. In addition, the mental health market in the region is expected to grow steadily during the forecast period. Mental health is affected by many factors, including socioeconomic status, genetic predisposition, chronic diseases, adverse childhood experiences, and alcohol or drug abuse. Geographical Location • North America, USA, Canada, Europe, Germany, UK, Italy, France, Spain, APAC, China, Japan, Korea, India, Australia, Latin America, Brazil, Mexico, Argentina, Middle East and Africa, Turkey , South Africa, Saudi Arabia. The degree of internal dispersion will accelerate. There are a large number of global and domestic suppliers in various regions. Headspace, FranklinCovey, Vivify Health, Teladoc Health, Apple and Samsung are some of the largest providers in the global digital health market. Many external players have emerged in the industry, such as the internal services of major corporations and other health and fitness organizations offering member discounts to increase their share of the industry. Mergers and acquisitions are commonplace in the industry as players look to expand and become more complex. Key Suppliers• Headspace• FranklinCovey• Vivify Health• Teladoc Health• Apple• Samsung Other Notable Suppliers• Altopax• Amelia Virtual Care• BigHealth• Calm• CogniFit• CuraLinc Healthcare• Epitel• Fitbit• Ginger• Global Kinetics• HealthUnlocked• Healthy Hero • Koa Health• Misu• MyndYou• OxfordVR• Psycurio• Rani Therapeutics• Talkspace• Twill Key questions answered: • How big is the digital health market? • What is the growth rate of the digital health and wellness market? • What are the main drivers of the digital health and wellness market? • Who are the key players in the global digital health and wellness marketplace? • Which region dominates the global digital health and wellness market? Read the full report: https://www.reportlinker.com/p06425875/?utm_source=GNWAabout ReportlinkerReportLinker is an award-winning market research solution. 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Post time: Mar-13-2023