Potential Impact of COVID-19 on Digital Health Market: What to Expect from Industry in 2020?

The coronavirus outbreak has influenced the global digital health market in a positive way. Increasing need of online healthcare services during the pandemic has accelerated the market growth during the recent months. Leading players of the market are predicted to unlock vibrant opportunities for the growth of the market in the forthcoming years by taking various initiatives.

The latest research report on the global digital health market by Research Dive reflects the influence of COVID-19 pandemic on the present and forthcoming growth of the global market. This report is a professional and comprehensive research formulated by specialists by evaluating top driving factors, major regional market situations, opportunities & future scope, and trends & developments in the market during the COVID-19 catastrophe.

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• Highlights of the Report:

– As per the previous report, the global digital health market was estimated to generate a CAGR of 28.9%.
– The real-time CAGR of the market is 33.4% according to the recent analysis.
– The market was expected to generate a revenue of $127.5 billion in 2020 as per the pre-pandemic analysis.
– The real-time revenue of the global digital health market has reached $139.1 billion because of the pandemic crisis.

Market Research

• Factors Accelerating the Growth of the Market:

As per the report, incorporation of artificial intelligence, internet of things and big data analytics in the digital healthcare is attributing to the growth of the market during the period of global health crisis. However, higher costs of the digital health services is predicted to be major restraint for the market growth.

• Current COVID-19 Impacted Scenario of the Market:

The leading players of the market are focused on developing new, innovative strategies to sustain the market growth.

In July 2020, Koninklijke Philips N.V., a leading provider in health technology, has collaborated with BioIntelliSense to improve remote patient monitoring solutions for high risk patients from the comfort of their homes. This collaboration is providing multi parameter sensors to monitor patient populations having chronic conditions such as diabetes, congestive heart failure and cancer.

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• Future Scope of the Market:

According to the report, the global digital health market is projected to maintain a sustainable growth post the pandemic.

New entrants and leading players are expected to bring in some newer innovative advances and rewarding opportunities for the market in next few years. The report also summarizes other important aspects of the key players including financial performance, product portfolio, SWOT analysis, and recent strategic moves and developments.

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