High prevalence of chronic diseases to expand the size of digital health market

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The growing need for remote patient monitoring services and rising patient engagement & connectivity is contributing to the growth of the digital health market. The high prevalence of chronic diseases such as diabetes, Cardiovascular Disorders (CVDs), and diabetes is again supporting the growth of the market. The growing adoption of digital health technology among the consumer due to the increasing penetration of smartphone is another key factor fostering the growth of the digital health market. According to research data published in NCBI in 2018, 95.0% of the U.S. adult population use a mobile phone, with 64.0% of them owning smartphones. As per the report published by the GSM Association, Mobile Economy 2018, the number of people connected to mobile services surpassed 5 billion in 2017 and the number of unique mobile subscribers is anticipated to reach 5.9 billion by 2025.

North America is expected to dominate the global digital health market and this is due to the fact that the region is accounted for rapid advancement in technology and high demand for telehealthcare services in the region. According to the report published by Mckinsey in May 2020, the Covid-19 pandemic instigated a increase in the adoption and usage of telehealth in the U.S. Adoption of telehealth services by consumers has risen steeply in the country, from 11.0% in 2019 to 46.0% in 2020 to replace the canceled healthcare visits.

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