Technology

Digital Health Market size is set to grow by USD 1.06 billion from 2024-2028, Increase in the number of M and A activities in the market to boost the market growth, Technavio

Published

5 months ago

July 30, 2024

NEW YORK, July 30, 2024 /PRNewswire/ — The global digital health market size is estimated to grow by USD 1.06 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 33.53% during the forecast period. Increase in the number of M and A activities in the market is driving market growth, with a trend towards use of ai in digital health. However, threat of open-source service providers poses a challenge. Key market players include 3M Co., Agfa Gevaert NV, AirStrip Technologies Inc., ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Alphabet Inc., Apple Inc., Cisco Systems Inc., Computer Programs and Systems Inc., Epic Systems Corp., General Electric Co., Honeywell International Inc., International Business Machines Corp., Koninklijke Philips N.V., McKesson Corp., Oracle Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., Siemens AG, Telefonica SA, and UnitedHealth Group Inc..

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Application (Wireless health, Mobile health, EHR, and Telehealth), Component (Software, Services, and Hardware), and Geography (North America, Europe, Asia, and Rest of World (ROW))

Region Covered

North America, Europe, Asia, and Rest of World (ROW)

Key companies profiled

3M Co., Agfa Gevaert NV, AirStrip Technologies Inc., ALLSCRIPTS HEALTHCARE SOLUTIONS INC., Alphabet Inc., Apple Inc., Cisco Systems Inc., Computer Programs and Systems Inc., Epic Systems Corp., General Electric Co., Honeywell International Inc., International Business Machines Corp., Koninklijke Philips N.V., McKesson Corp., Oracle Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., Siemens AG, Telefonica SA, and UnitedHealth Group Inc.

Key Market Trends Fueling Growth

Artificial Intelligence (AI) plays a significant role in enhancing medical equipment output and expediting results in the digital health sector. This technology empowers medical professionals with more efficient diagnosis tools and informed insights. In radiology, for instance, AI algorithms help radiologists meet the rising demand for diagnostic imaging, streamlining clinical workflows and reducing diagnostic errors. AI is a crucial component of Research & Development (R&D) for leading digital health vendors, such as Siemens. The expanding use of health data and analytics is fueling the global digital health market’s growth during the forecast period. AI’s integration into healthcare promises to revolutionize clinical decision-making processes, ensuring improved patient care and heightened efficiency.

The Digital Health Market is booming with trends like stroke care through remote monitoring, medication reminders, telehealth platforms, secure messaging apps, and symptom tracking apps leading the charge. Continuous glucose monitors and wearable ECG monitors are popular devices for managing chronic diseases such as diabetes and heart conditions. Pregnant women and those with obesity benefit from telehealth services, mobile platforms, and tablet PCs. Digital health startups leverage mobile services, smartphone penetration, and high-speed mobile networks to offer affordable, low-cost devices and telemedicine services. Data collection and management of personal health information are crucial, ensuring security against black market criminals. Electronic Medical Records and Internet connectivity sources facilitate seamless access to medical information. Overall, the Digital Health Market is transforming healthcare delivery for various chronic diseases.

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Market Challenges

The digital health market is witnessing a significant influx of open-source vendors offering diverse digital health solutions. Combining multiple open-source products can provide nearly all the functionalities of proprietary on-premises and cloud-based digital health solution providers. Open-source software offers advantages such as unrestricted innovation, enhanced credibility, and decentralized control, which may negatively impact the market share of proprietary players. NHS England, a UK public body, utilizes open-source IT solutions in healthcare to make services accessible and customizable to local needs. Leeds Teaching Hospitals is one example using open-source software for Electronic Health Records development, potentially hindering the expansion of the global digital health market during the forecast period.The Digital Health Market is experiencing significant growth due to the increasing use of digital technology in healthcare. However, challenges persist, such as fraudulent insurance claims and compromised healthcare records. Telemedicine, mHealth, and digital therapeutics are key areas of focus. The market is segmented into software, hardware, and services, catering to healthcare providers, payers, and patients. Self-health management is on the rise due to the proliferation of smartphones and mHealth devices. Tele-healthcare services, consumer-centric approaches, and digital portals are transforming healthcare decisions for adults with chronic illnesses like diabetes, heart disease, and cancer. The elderly population also benefits from digital health technology. Telehealthcare platform developers and wearable device manufacturers are driving innovation, while e-prescription systems streamline healthcare processes. The IT industry plays a crucial role in developing healthcare IT infrastructure, including hospitals and the healthcare ecosystem. Preventive healthcare is a growing trend, and digital health tools are essential for managing non-communicable diseases.

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Segment Overview

This digital health market report extensively covers market segmentation by

Application1.1 Wireless health1.2 Mobile health1.3 EHR1.4 TelehealthComponent2.1 Software2.2 Services2.3 HardwareGeography3.1 North America3.2 Europe3.3 Asia3.4 Rest of World (ROW)

1.1 Wireless health- Wireless health is a burgeoning sector in the digital health market, leveraging wireless technologies for traditional medical activities like diagnosis and treatment. Notable wireless technologies include 4G, Bluetooth Low Energy (BLE), and BodyLAN. Dexcom’s G4 Platinum continuous glucose monitoring system uses BLE to transmit data within a 6-meter range, while Dexcom STUDIO software processes the information. RFID technology, another key player, enables hospitals to track critical equipment like infusion pumps and specialty beds in real-time, updating their status. STANLEY Healthcare’s Hugs Infant Protection system uses Wi-Fi for hospital-wide infant security. The digital health market, fueled by these advancements, is projected to expand significantly.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022) – Download a Sample Report

Research Analysis

The Digital Health Market is experiencing exponential growth, driven by the increasing use of digital technology in healthcare. Tablets and Mobile platforms are revolutionizing healthcare delivery, providing easy access to medical information and mobile applications for adults managing chronic diseases such as diabetes, heart disease, and cancer. Tablet PCs and Personal Digital Assistants offer convenient solutions for physicians to access healthcare IT infrastructure, enabling remote consultations and telehealthcare services. Internet connectivity sources and high-speed mobile networks enable seamless communication between healthcare providers and patients, ensuring timely and effective care. Digital portals and telehealthcare platform developers are at the forefront of this transformation, creating innovative solutions to meet the evolving healthcare requirements. Wearable device manufacturers are also contributing to this trend, providing low-cost devices that enable individuals to monitor their health in real-time. The IT industry is investing heavily in digital health tools, from e-prescription systems to preventive healthcare applications. The healthcare ecosystem is embracing digital technology, with hospitals and healthcare providers integrating digital solutions into their operations to improve efficiency and patient outcomes.

Market Research Overview

The digital health market is experiencing rapid growth due to the proliferation of mobile devices and high-speed mobile networks. Tablets and Mobile platforms are transforming healthcare delivery, enabling telemedicine services, remote monitoring, and self-health management for chronic diseases. Low-cost devices and digital health tools, such as Personal Digital Assistants and smart sensors, are making healthcare more accessible to adults and the elderly population. Digital health technology includes software, hardware, and services segments catering to healthcare providers, payers, and patients. Telehealthcare platforms, mHealth devices, and digital therapeutics are revolutionizing healthcare IT infrastructure in hospitals and healthcare ecosystems. However, digital health also presents challenges, including data security and privacy concerns. Criminals may exploit the black market for compromised healthcare records, leading to fraudulent insurance claims. Digital health startups and telehealth platform developers must prioritize secure messaging apps and e-prescription systems to mitigate risks. Preventive healthcare applications, such as medication reminders, symptom tracking apps, and continuous glucose monitors, are essential for managing non-communicable diseases like diabetes, heart disease, cancer, and stroke. Wearable devices, such as ECG monitors, blood pressure cuffs, and smartphone applications, are transforming healthcare decisions and enabling remote monitoring for pregnant women. The IT industry’s consumer-centric approach to healthcare is driving innovation in digital health technology, with telehealth services, health management tools, and pharmacy delivery becoming increasingly popular. The future of digital health lies in the integration of digital technology and healthcare, providing personalized healthcare solutions for patients and consumers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationWireless HealthMobile HealthEHRTelehealthComponentSoftwareServicesHardwareGeographyNorth AmericaEuropeAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

Virtusa Earns 2024 Great Place to Work® Certification™ for Third Consecutive Year

Published

41 minutes ago

December 23, 2024

SOUTHBOROUGH, Mass., Dec. 23, 2024 /PRNewswire/ — Virtusa Corporation, a global leader in digital business strategy, digital engineering, and IT services, is proud to announce its 2024 Great Place to Work® Certification™ for the third consecutive year. This recognition spans seven countries – India, USA, Canada, UK, UAE, Australia, and Singapore – and underscores Virtusa’s dedication to fostering a High-Trust, High-Performance workplace culture globally.

The certification is based on rigorous employee feedback, with Virtusa achieving an impressive Trust Index™ score of 79% and an Employee Net Promoter Score (eNPS) of 73%. Notably, 81% of employees agreed with the statement, “Taking everything into account, I would say this is a great place to work.”

Key areas of improvement over the past year include professional development, equal treatment, making a difference, and creating a welcoming environment.

“We are incredibly honored to receive the Great Place to Work® Certification™ for the third consecutive year,” said Lori Mullane, Chief People Officer at Virtusa. “This recognition reflects our unwavering commitment to creating an inclusive and empowering workplace where employees feel valued, supported, and inspired to achieve their best. Investing in a culture of trust, collaboration, and growth enables our teams to deliver exceptional value to our clients and communities.”

Virtusa’s commitment to professional development, diversity, and well-being reflects its efforts to build a supportive and inclusive environment. With industry-leading initiatives like Engineering IQ for career progression, robust upskilling programs, and a focus on belonging and fairness, Virtusa has created a culture where employees can thrive.

The Certification is a testament to Virtusa’s leadership in workplace culture, which supports over 30,000 employees globally. As the company continues to grow, its mission remains steadfast in providing a High-Trust, High-Performance environment that drives innovation, collaboration, and employee satisfaction.

For more information about Virtusa’s workplace culture and career opportunities, visit https://www.virtusa.com/careers.

About Great Place to Work®
Backed by 30 years of data, Great Place To Work is the global authority on workplace culture. Through its proprietary For All™ Model and Trust Index Survey, it gives organizations the recognition and tools to create a consistently positive employee experience. Its mission is to help every place become a great place to work for all, driving business growth, improving lives, and empowering communities. Through globally recognized and coveted Great Place To Work Certification and highly competitive Best Workplaces™ Lists, Great Place To Work enables employers to attract and retain talent, benchmark company culture, and increase revenue. Its platform enables leaders to truly capture, analyze and understand the experience of every employee, and compare outcomes with data collected from more than 100 million employees in 150 countries worldwide.

About Virtusa
Virtusa Corporation provides digital engineering and technology services and solutions for Forbes Global 2000 companies across industries, including financial services, healthcare, telecommunications, media, manufacturing, and technology. With a foundation in digital engineering, Virtusa empowers enterprises to navigate digital transformation, driving operational efficiency and measurable outcomes. Leveraging its Engineering First approach, Virtusa partners with organizations to tackle complex challenges, delivering solutions that ensure resilience and competitive advantage.

Virtusa is a registered trademark of Virtusa Corporation. All other company and brand names may be trademarks or service marks of their respective holders.

Media Contact:
Paul Lesinski
Edelman
(971) 226-5299
paul.lesinski@edelman.com

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Technology

DogeRide Unleashes a New Era of Pet-Friendly Ridesharing in Denver

Published

42 minutes ago

December 23, 2024

DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app in Denver, CO Metro Area.

DENVER, Dec. 23, 2024 /PRNewswire-PRWeb/ — DogeRide, Denver’s newest and most innovative ridesharing service, is proud to announce the official launch of its pet-friendly hailing app.

“We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

Designed to bring convenience and joy to pet lovers, DogeRide allows drivers to ride with their dogs as companions while welcoming riders to travel with their furry friends. With Denver being one of the most dog-friendly cities in the country, this service is set to revolutionize how residents and their dogs move around town.

DogeRide aims to address a growing demand for pet-friendly transportation. Riders no longer have to worry about leaving their four-legged friends behind or struggling to find a rideshare that accommodates their pets. The DogeRide app allows seamless booking and ensures all participating drivers are comfortable with canine passengers.

To ensure a safe and pleasant ride, dogs must weigh under 80 pounds and be on a leash or in a crate during the journey.

“Denver is a city that thrives on community and outdoor adventures, and dogs are a huge part of that lifestyle,” said Phil Warfield and Divine Tumenta, both Co-founders of DogeRide. “We wanted to create a ridesharing service that embraces that spirit, providing a solution for dog lovers who want their furry companions to be part of their daily lives. DogeRide is more than a rideshare; it’s a celebration of Denver’s dog-friendly culture.”

The app’s user-friendly interface allows riders to indicate when they’re bringing a dog along, ensuring that drivers are prepared for their canine co-pilots. Additionally, all DogeRide drivers are trained to prioritize safety and comfort for both human and canine passengers. From trips to the vet or park to daily commutes, DogeRide is committed to making every journey tail-waggingly fun and hassle-free.

DogeRide also offers unique features tailored to the needs of dog owners and pet-loving drivers. Drivers are encouraged to bring their dogs along for companionship while working, creating a warm and welcoming atmosphere for riders. This innovative approach not only enhances the drivers’ experience but also provides riders and their dogs with a sense of familiarity and connection.

“DogeRide is the ultimate ridesharing service for dog lovers because we’ve designed it with the needs of Denver’s vibrant pet-owning community in mind,” said Chad Harris, Co-founder of DogeRide. “Whether you’re heading to the dog park, running errands, or going on an adventure, DogeRide ensures your furry friend can come along for the ride. We’re thrilled to be part of Denver’s pet-friendly ecosystem.”

DogeRide’s mission is to create a safe, reliable, and dog-inclusive transportation option that reflects the unique lifestyle of Denver residents. As part of its commitment to the community, DogeRide plans to partner with local animal shelters and pet organizations to support adoption events and promote responsible pet ownership.

DogeRide is now available for download on iOS and Android devices. For more information, visit www.dogeride.com.

Media Contact

Nick Dell, DogeRide Technologies Inc, 1 7207817533, support@dogeride.com, https://www.dogeride.com/

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SOURCE DogeRide Technologies Inc

Technology

Omnis Investments Limited Extends Relationship with SS&C

Published

42 minutes ago

December 23, 2024

WINDSOR, Conn., Dec. 23, 2024 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Omnis Investments Limited has extended its transfer agency relationship with SS&C. The contract services Omnis’s range of mutual funds, which invest across several asset classes and regions.

With more than GBP10 billion of assets under management, Omnis is one of U.K.’s largest asset managers and works closely with clients of The Openwork Partnership, a network of 4,200 financial advisers across the country. Omnis also collaborates with 2plan wealth management, a leading wealth management firm in the U.K.

“SS&C is a long-term valued partner to Omnis, and we are looking forward to continuing our work together on ways to enhance the experience of our clients and achieve our goals,” said Simon Harris, Chief Operating Officer at Omnis. “Together with SS&C, we are committed to providing a high standard of service to all of our clients and evolving our digital service offering.”

“We are pleased to extend our valued long-term relationship with Omnis,” said Spencer Baum, Managing Director Head of Client Management, SS&C GIDS. “SS&C is committed to delivering exceptional omnichannel servicing and support to all customer types.”

Learn more about SS&C’s Global Investor and Distribution Solutions here.

About Omnis Investments Limited

Omnis Investments manages over GBP10 billion in assets, working as part of The Openwork Partnership, a network of 4,200 financial advisers across the country helping people look forward with confidence and optimism. Omnis has a range of funds and strategies across the full risk/return spectrum, managed by leading investment managers. The Omnis funds are only available through advisers of The Openwork Partnership and 2plan wealth management.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

Additional information about
SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

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SOURCE SS&C