U.S. Digital Health Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

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U.S. Digital Health Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020 - 2030

Status : January, 2023 | Healthcare IT

Report Digest

U.S. Digital Health Market: Overview

The U.S. digital health market has been projected to experience various growth opportunities in the foreseeable years. The growth in the global market has been possible with the constant evolution in the smartphone industry that is supported by improvements in internet connectivity. These factors have enabled the delivery of effective healthcare services in order to take the digital route. Further, the rising adoption of smartphones in the U.S. region has stimulated innovators in order to invest and capitalize on the growth avenues in the global market.

In the past decade, in the U.S., a lot of applications, such as GoogleFit, Garmin Connect, Doctors on Demand, AssistRx, and Amwell have been launched. These applications will assist patients to store their healthcare information, tracking their health & fitness, and visiting doctors in minutes throughout the process of treatment. There has been a noteworthy increase in the demand for telemedicine and telehealth during the past few years. Thus, owing to these factors, the U.S. digital health market is projected to experience innumerable growth prospects in the following years.

U.S. Digital Health Market: Key Trends

Innovators across the world are constantly putting efforts to develop different web-hosted and cloud-based platforms in order to deliver the applications for virtual care to patients. Along with this, these platforms are also used to enhance patients care access in remote locations. There has been a rapid increase in video consultations to eliminate the requirement for in-person visits and to commute to the healthcare facility. These facilities are predicted to reduce the costs of healthcare services. Thus, these factors are likely to drive the expansion avenues in the global market during the forecast period. 

The current pandemic has enforced certain restrictions and lockdown in order to control the spread of infection. So, various technology giants in the region are putting efforts to develop solutions for the improvement of virtual care experience with the help of different subscription plans. These plans also come with enhanced data security features. Thus, based on these advanced features, the U.S. digital health market has been projected to experience various growth avenues in the global market in the years to come.

The COVID-19 pandemics have increased the awareness among people related to health and wellbeing. In addition to this, there has been a noticeable increase in the adoption of different fitness applications and some other digital technologies for advanced healthcare solutions. Thus, owing to these reasons, the U.S. digital health market has been projected to experience innumerable growth avenues in the forthcoming years.

U.S. Digital Health Market: Competitive Dynamics and Key Developments

The nature of the U.S. digital health market is highly competitive with the presence of some prominent players around the world. These key market players are putting constant efforts by adopting innumerable strategies to bring growth prospects in the global market during the forecast period. Some of the significant growth strategies include development as well as the launching of different technologically advanced products, portfolio diversion, mergers and acquisitions, expansion of different networks for distribution, and expansion of footprints of the organization.

For instance, Vodafone has established a partnership with Deloitte in October 2021. The partnership aims for the launching of the Vodafone Centre for Health in order to offer a virtual center to provide access to connected healthcare for healthcare professionals and patients. It also provides a virtual center for digital technology.

The key players in the U.S. digital health market are:

  • AT&T
  • Apple Inc.
  • Vodafone Group
  • Greenway Health
  • Google Inc.
  • Teladoc Health
  • American Well
  • Cerner Corp.
  • McKesson Corp.
  • IBM Corp.
  • NextGen Healthcare
  • CureMD Healthcare
  • Allscripts

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?