Digital Medicine Market Analysis | 2021-2026

“The Digital Medicine Market is expected to grow at a healthy CAGR during the forecast period.”

Market Dynamics

Introduction

Digital medicine refers to the use of technology, such as mobile apps, wearables, and other digital tools, to enhance and support medical diagnosis, treatment, and patient care. It encompasses a range of applications, including remote monitoring of health parameters, medication adherence tracking, virtual consultations, and personalized health interventions. By leveraging data analytics and connectivity, digital medicine aims to improve healthcare efficiency, empower patients, and enable more precise and personalized medical approaches.

This emerging field holds the potential to revolutionize healthcare by providing real-time insights, enhancing communication between patients and healthcare providers, and contributing to more effective and accessible healthcare solutions.

Market Drivers

The growth of the global digital medicine market is primarily driven by the increasing adoption of technologically advanced healthcare solutions coupled with growing digitalization across geographies.

• Additionally, an increasing number of people suffering from various diseases such as diabetes, asthma, heart disease, obesity, and COPD among others is expected to drive the market growth at a significant rate during the review period.

• Furthermore, growing awareness about advanced healthcare solutions in developing countries is expected to create lucrative opportunities for the market players over the forecast period.

COVID-19 Impact

The COVID-19 outbreak impacted the growth of the digital medicine market positively. The COVID-19 pandemic has disrupted global economies and health care with extensive lockdowns and travel bans to prevent the spread of the virus. The fear of coronavirus infection and the imposition of lockdown resulted in increased deployment of digital technology to address healthcare problems.

Segments Analysis

Technology Trends

“The mobile health segment accounted for the largest market share.”

The digital medicine market has been segmented into mobile health, telehealth, wireless health, and EMR/EHR.

• The mobile health segment accounted for the largest market share due to the widespread usage of mobile phones for various healthcare purposes such as clinical or assistance in diagnosis, reminders and alters, remote monitoring, healthy living applications, and productivity applications.

Regional Trends

“North America accounted for the largest market share.”

• The regional market growth can be attributed to the high adoption of advanced healthcare solutions and the presence of key market players such as 2Morrow, Inc. (US) and Ginger.io Inc. (US).

• The market in Asia-Pacific is expected to grow at the fastest CAGR during the review period on account of increasing awareness about personalized healthcare solutions coupled with increased healthcare spending.

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Key Players

The market is highly populated with the presence of several local, regional, and global players. Most of the major players compete in some of the governing factors including price, product offerings, regional presence, etc.

The following are the key players in the global digital medicine market (arranged alphabetically).

• 2Morrow, Inc. (The U.S),
• Akili Interactive Labs (The U.S),
• AliveCor Inc. (The U.S),
• Ginger.io Inc. (The U.S),
• Livongo Health Inc (The U.S),
• MOCACARE (The U.S),
• Omada Health, Inc (The U.S).
• Proteus Digital Health, Inc. (The U.S),
• Voluntis (France) and
• WellDoc Inc. (The U.S),

Note: The above list does not necessarily include all the top players in the market.

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Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Target Audience

The following is a list of the customers that the digital medicine market aims to convert the most:

• Digital Medicine Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. 

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. 

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players).
• SWOT analysis of key players (up to 3 players).

Market Segmentation

• Current market segmentation of any one of the product types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.