According to a recent study from market research firm Graphical Research, the North America digital health market size is poised to expand at substantial CAGR during the forecast period. North America digital health market size is expected to grow at a promising rate in the coming years as investments from both the public and private organizations to enhance the existing healthcare infrastructure are growing. The adoption of IT solutions in healthcare, known as healthcare IT today, is increasing at a notable rate. The demand to get advanced and highly precise treatments is increasing among patients.

The percentage of people suffering from chronic ailments is growing every year. It has become a cause of concern for authorities in North America, who have now introduced several initiatives to create awareness about the benefits of using digital healthcare services. Companies dealing in the production of innovative digital health technologies are getting into partnerships with other software firms to develop solutions that will enhance the performance of healthcare processes to a great extent. The other main aim of developing these technologies is to make it easier for patients to access basic healthcare facilities

The above-mentioned drivers have played an important role in predicting the valuation of North America digital health market at $261 billion by 2027. The COVID-19 pandemic has played a vital role in increasing the popularity of remote healthcare services, wherein doctors and patients discuss about medical treatments through videoconference meetings and other online mediums.

Since people could not go out for their regular medical appointments due to pandemic restrictions, the demand for remote patient monitoring devices has increased by many folds recently. They can be used by patients to check their daily readings and virtually interact with their doctors accordingly.

Advanced technologies like Artificial Intelligence are being heavily integrated in many digital health devices to provide highly accurate diagnosis of a patient’s medical condition. Technologies like these that have improved the diagnostics and treatment of several patients to a great extent. Another reason why AI is so popular in medicine and surgery is because the technology increases the patient-doctor engagement rate.

It helps the patients become a part of some vital medical decisions and gives them a chance to express their opinions, should they disagree with anything. These nitty-gritties have created a sense of trust in patients and the demand among them for using technologically advanced treatments is growing at a rapid rate. All of these aspects will positively impact the deployment of North America digital health market.

Wearable devices are predicted to augment digital health market potential in North America. Some of the common examples of the equipment are AI-powered wearables, portable oxygen monitors, insulin monitors and dialysis devices. These devices help patients keep a track of their health by updating them on their progress rate and areas of improvement.

North America digital health market size from software solutions segment will grow at a robust 16.1% CAGR through 2027. Some of the popularly used software solutions in digital health are mobile health (mHealth) apps, Electronic Health Records (EHRs), telehealth and Electronic Medical Records (EMRs).

The US enacted the Affordable Care Act (ACA) which played a key role in the development of various digital health platforms in the nation. The main aim of the Act, as the name suggests, is to not only provide affordable healthcare services but to enhance the overall quality of the country’s healthcare sector. The use of technologies like computed modeling immensely helped the authorities in North America as they were able to keep a close eye on the total healthcare expenditure.

US digital health industry share is anticipated to expand at a CAGR of 16.3% up to 2027. The number of people suffering from chronic diseases like diabetes and cancer is growing at a disturbing rate every year. It has prompted hospitals to adopt digital health technologies to cater to the health needs of patients in a more efficient manner. mHealth apps are growing in demand among customers in the country, which will help them keep daily updates on their wellness status. These updates will help medical professionals have a deeper insight into their patient’s progress.

Companies engaged in providing digital health solutions across North America such as AdvancedMD Inc., Allscripts Healthcare Solutions Inc., Cisco Systems, McKesson Corporation, and Cerner Corporation are entering into mergers and acquisitions with other firms to increase their knowledge base about various technologies and create and implement newer ones. The main aim of these organizations is to enhance the healthcare system processes and increase the patient engagement rate.Source: https://www.graphicalresearch.com/industry-insights/1162/north-america-digital-health-market