This market research study involved the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the Digital Health market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess market prospects. The size of the Digital Health market was estimated through various secondary research approaches and triangulated with inputs from primary research to arrive at the final market size.
Secondary Research
The secondary sources referred to for this research study include publications from government sources, such as WHO, AAAI, EurAI, GCAAI. Secondary sources also include corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements); business magazines and research journals; press releases; and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall size of the global Digital Health market, which was validated through primary research.
Primary Research
Extensive primary research was conducted after acquiring basic knowledge about the global Digital Health market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand side (Healthcare Providers – Doctors, Clinicians, ) and supply-side (such as C-level and D-level executives, technology experts, product managers, marketing and sales managers, distributors, and channel partners, among others) across five major regions—North America, Europe, the Asia Pacific, Latin America, Middle East and the Africa. Approximately 70% and 30% of primary interviews were conducted with supply-side and demand-side participants, respectively. This primary data was collected through questionnaires, e-mails, online surveys, personal interviews, and telephonic interviews.
Note 1: Tiers are defined based on the total revenues of companies. As of 2021, Tier 1 = >USD 1 billion, Tier 2 = USD 500 million to USD 1 billion, and Tier 3 = <USD 500 million.
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Both top-down and bottom-up approaches were used to estimate and validate the total size of the global Digital Health market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
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The key players in the industry and markets have been identified through extensive secondary research.
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The revenue generated from the sale of Digital Health products by leading players has been determined through primary and secondary research.
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All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Global digital health market size: top down approach
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Global digital health market size: bottom up approach
Data Triangulation
After arriving at the overall market size, from the market size estimation process explained above, the Digital Health market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the remote patient monitoring market
Market Definition
The digital health market refers to the use of digital technologies, information, and communication systems to improve and enhance healthcare delivery, patient care, and overall health outcomes. It encompasses a wide range of products and services that leverage technology to address various healthcare needs and challenges.
Key Stakeholders:
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Healthcare providers
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Patients
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Wireless device manufacturers
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Healthcare technology suppliers
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Health IT Companies
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Pharmaceutical Companies
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Telecommunication Companies
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Application developers and app stores
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Medical Device Manufacturers
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Government and Regulatory Bodies
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Healthcare Payers
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Internet identity management, privacy, and security companies
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Sensor, presence, location, and detection solution providers
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Data management and predictive analysis companies
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Health Data Analytics Providers
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Research institutions
Report Objectives
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To define, describe, and forecast the global Digital Health market based on offering, application, technology, end user, and region
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To provide detailed information regarding the major factors (such as drivers, restraints, opportunities, and challenges) influencing the market growth
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To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall Digital Health market
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To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
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To strategically analyze the market structure and profile the key players of the Digital Health market and comprehensively analyze their core competencies
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To forecast the size of the market segments with respect to four regions, namely, North America, Europe, Asia Pacific, and the Rest of the World (Latin America and the Middle East & Africa)
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To track and analyze competitive developments such as product launches, acquisitions, partnerships, agreements, and collaborations in the Digital Health market during the forecast period
Available Customizations:
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:
Company information
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Detailed analysis and profiling of additional market players (up to 10)
Growth opportunities and latent adjacency in Digital Health Market