5 Sets of Numbers Proving the Growth of Digital Health
Digital health is the convergence of digital and genomic technologies with health, healthcare, living, and society to enhance the efficiency of healthcare delivery and make medicines more personalized and precise. The discipline involves the use of information and communication technologies to help address the health problems and challenges faced by patients, as well as the general public who wants to stay healthy.
Digital health is also one of the fastest growing industries on the planet, and here are some numbers behind that claim:
1. Startups are raising record amounts of investments
Last year digital health startups raised $4.2 billion, according to Rock Health, a full-service seed fund that supports digital health startups. The same source has found that 2017 will be breaking some records, with startups managing to attract $3.5 billion from investors during the first half of the year.
2. Activity tracker shipments are growing
Activity trackers, including both fitness- and health-focused devices, are expected to be used by more than 1 in 5 Americans by 2021, according to Juniper Research. Put into numbers, that's over 75 million Americans using such products. Related figure, this time from IDC, tells us that during the second quarter of 2017, the worldwide wearables market grew 10.3% year over year, reaching 26.3 million units in device shipments.
3. Telehealth usage is rising, as well
The global telehealth market is expected to be worth 9.35 billion by 2021, according to MarketsandMarkets, with a number of factors driving the market forward, including: growth in geriatric population, rising prevalence of chronic diseases, dearth of healthcare professionals worldwide, improvements in telecommunication infrastructure, need for affordable treatment options, and so on.
4. And so does remote monitoring
Remote monitoring will also be affected by new technologies, with Berg Insight predicting (PDF link) it to grow from 7.1 million patients using remote monitoring this year to 50.2 million by 2021. On a related note, ABI Research forecasts the patient monitoring wearables market, which includes remote and on-site devices, will grow from 8 million shipments in 2016 to 33 million in 2021.
5. mHealth apps are getting some serious capital
Finally, when it comes to mobile health apps, it was the single most funded area across the globe in 2016, with app makers receiving almost $1.3 billion in funding, according to Mercom Capital Group. With 21 deals, the research firm has found that mHealth apps were also involved in the most M&A transactions last year.
The fact that healthcare is one of the last industries to be "properly" digitized leaves a ton of room growth. And by "properly" we mean that all your data gets uploaded to the cloud from where it could be securely accessed by doctors in other parts of the country, or even in other parts of the world. So if you ever did an MRI, you will have that scan securely stored on the web from where physicians can access it (if you allow them to do so).
How to Get Started in Digital Health?
Generally speaking, there are two ways how you can "enter" the digital health market, or learn more about it. You can go and research for yourself relying on Google and dedicated publications, or take a shortcut and learn from a site that is purposely built to bring more users to the "digital health revolution."
DHbriefs is there to help. It stands for "Digital Health Briefs," offering research briefs that cover specific digital health market niches. These briefs (will) provide industry intelligence, outlook of key players, their products and services, and more — making sure YOU get to save time and money, while potentially opening new opportunities for growth.
Whether you're a medical or pharma professional, student or an engineer, someone looking to enhance or change his/her career — you don't want to miss out on the digital health revolution.