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:
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