Using digital technology in healthcare is part of the growing topic of study known as "digital health." Innovative mobile applications are being developed by players in the digital health services market to track everyday activities such as exercise, fitness, diet, and overall health, giving users access to comfortable and high-quality healthcare. Mobile apps also allow users to keep their medical information, schedule appointments, track consultations, get answers to common medical questions, and track and order prescription drugs. In other words, the medical community is rapidly adopting telemedicine and telehealth services, and both public and private market participants are acknowledging their existence. Additionally, a wide range of uses for AI and machine learning exist in the healthcare sector, including image analysis, patient monitoring, and medical device automation, which help medical personnel manage the clinical workflow.
According to SPER market research, ‘United Kingdom Digital Health Market Size- By Component, By Technology, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the United Kingdom Digital Health Market is estimated to reach USD 75.13 billion by 2033 with a CAGR of 19.3%.
The growth of the Internet of Things (IoT) and technological developments, consumers' increasing preference for mobile devices and the Internet, and the growing demand for population health management are some of the drivers propelling the country's digital health industry. Due to rising public awareness of digital health, rising levels of acceptance among medical professionals, and proof that using this technology works, this market is expected to grow rapidly. Long-term industry growth is also being aided by government support in the form of investments in health technologies and subsidies. Therefore, factors including increased preferences towards mobile technology, growing use of IoT and technical innovation, and the Internet in conjunction with government initiatives are predicted to propel the market's expansion throughout the projected time.
As a result of both rich and emerging nations adopting these solutions more frequently, privacy concerns are now a significant worldwide issue. Numerous health information systems store and generate vast amounts of health data in a variety of formats. As a result, protecting sensitive data from cybercrimes has grown to be a top priority for healthcare organizations everywhere. Finding ways to communicate health data among medical professionals while safeguarding personally identifiable information is a major challenge in the field of health data privacy. Additionally, it's becoming more common for cybercriminals to hack Personally Identifiable Health Information (PHI). The goal of the hackers is to take advantage of patient data.
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The COVID-19 pandemic has a beneficial effect on the market. This can be linked to several factors, including a rise in the number of teleconsultations during the period and an increase in the use of digital technologies for the diagnosis and treatment of various diseases. Furthermore, the rise in teleconsultation platforms was caused by constraints on emergency medical services, travel and free movement restrictions, and an increase in COVID-19 infections. The COVID-19 pandemic's increasing demand for digital solutions, the advantages of teleconsultations and mHealth apps, among other factors, encourage the global market's use of healthcare technologies. Thus, businesses were able to improve their revenue due to the growing demand for telemedicine and teleconsultations.
The leading companies in the market include International Business Machinery Corporation (IBM), Cerner Corporation, AMD Global Telemedicine Inc., Athenahealth Inc., Allscripts Healthcare Solutions Inc., Cisco Systems, and iHealth Lab Inc.
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United Kingdom Digital Health Market Analysis
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