North America HealthTech Market Introduction and Overview
According to SPER Market Research, the North America digital health market is estimated to reach USD XX Billion by 2033 with a CAGR of 17.90%.
The report includes an in-depth analysis of the North America HealthTech Market, including market size and trends, product mix, applications, and supplier analysis. The term "healthtech" describes the application of technology to the healthcare sector with the goal of enhancing patient care overall, healthcare delivery, and medical procedures. This can include a broad range of technological innovations like as wearables, software programmes, telemedicine platforms, and medical equipment. The goal of healthtech is to employ technology to improve healthcare services in a number of areas, including administrative, monitoring, treatment, and diagnosis.
- March 2020: During the COVID-19 pandemic, Allscripts launched FollowMyHealth, a telehealth tool to assist U.S. healthcare organisations with virtual patient visits.
Market Opportunities and Challenges
To enhance their operations, a lot of hospitals and healthcare systems are beginning to upgrade their electronic medical records. Electronic health records (EHRs) have digitised paper medical records and taken their place. EHRs enable healthcare providers to safely and efficiently create patient health data, such as test results or diagnoses. Furthermore, the healthcare sector can safely collect, validate, and exchange health information thanks to blockchain technology. Blockchain technology creates an open ledger of information that is unchangeable unless every modification is documented by someone. Furthermore, patients can now schedule appointments remotely thanks to the growing telemedicine trend. People can benefit from telemedicine technology's convenience and flexibility. People, particularly those who reside in remote areas, have the ability to communicate with clinicians through mobile apps on their phones or video software on computers, which leads to a high usage of telemedicine and is anticipated to generate opportunities for the market's growth.
Interoperability problems are among the most prevalent health technology concerns that organisations encounter. A patient's medical history and treatment plans are among the many pieces of information that are gathered, kept up to date, and stored in electronic health records, or EHRs. Electronic medical records also contain patient data, such as payment and financial details, insurance claims, appointment scheduling, and private patient information. For security and privacy to be maintained, this technology is more crucial. The use of this technology by some low-budget healthcare institutions is limited by the high costs associated with software changes necessary to maintain security, adhere to HIPAA requirements, and replace antiquated systems, all of which impede market growth. The substantial expenditure required for a strong telehealth infrastructure is another. Any telehealth program's capacity to securely, consistently, and swiftly access and exchange information is critical to its success. The adoption of telemedicine services entails significant upfront expenditures for both the required training and technology. Developed nations have embraced technology to provide access to high-quality healthcare; however, these nations' major health care problems—cost and quality—hinder the market's ability to expand.
Market Competitive Landscape
In order to increase their revenue share in the market and diversify their service and product offerings, the major companies are concentrating on the development of enhanced digital components. One of the main factors anticipated to drive market expansion over the forecast years is the rising industry consolidation activities, such as mergers, partnerships, and product innovation initiatives by leading companies to extend their product portfolios. The market will be driven in the upcoming years by expanding product launches and acquisitions made by the top industry players in an effort to gain a larger revenue share. The major key players in the North America HealthTech Market are: Allscripts, Airstrip Technologies, Apple, Inc, Cisco Systems Inc, Cerner Corp, Computer Programs and Systems, Inc, Epic Systems Corp, Google, Inc, IBM Corp, McKesson Corp, Qualcomm Technologies, Inc, QSI Management, LLC, Samsung Electronics Co Ltd, Softserve, Telefonica S.A., Vodafone Group, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Technology, By Component
|
| Regions covered | Canada, U.S.
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| Companies Covered | Allscripts, Airstrip Technologies, Apple, Inc, Cisco Systems Inc, Cerner Corp, Computer Programs and Systems, Inc, Epic Systems Corp, Google, Inc, IBM Corp, McKesson Corp, Qualcomm Technologies, Inc, QSI Management, LLC, Samsung Electronics Co Ltd, Softserve, Telefonica S.A., Vodafone Group, Others
|
COVID-19 Impact on North America HealthTech Market
During the COVID-19 pandemic, government-mandated lockdowns and shutdowns have created a favourable climate for digital healthcare services. Furthermore, it is projected that the market would rise due to the rising incidence of chronic illnesses and the developments in information and communication technology for remote patient monitoring. During the pandemic, government initiatives to create online healthcare platforms further spurred market expansion. Moreover, post-pandemic market expansion is anticipated to be fueled by manufacturer improvements in cybersecurity protocols and telehealth, mHealth, telemedicine, and telecare platforms.
Key Target Audience:
- Digital Health Startups
- Government and Regulatory Bodies
- Health Insurance Companies
- Healthcare Providers
- Investors and Venture Capitalists
- Medical Device Manufacturers
- Patients and Caregivers
- Pharmaceutical Companies
- Research Institutions and Academia
- Technology Companies
- Others
Our in-depth analysis of the North America Digital HealthTech Market includes the following segments:
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By Technology: |
Digital Health Systems
EHR
E-Prescribing Systems
Healthcare Analytics
mHealth
mHealth Apps
|
|
By Component: |
Hardware
Services
Software
|
|
By Region: |
Canada
U.S
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Key Topics Covered in the Report:
- North America HealthTech Market Size (FY’2024-FY’2033)
- Overview of North America HealthTech Market
- Segmentation of North America HealthTech Market By Technology (Digital Health Systems, Healthcare Analytics, Tele-healthcare)
- Segmentation of North America HealthTech Market By Component (Hardware, Services, Software)
- Statistical Snap of North America HealthTech Market
- Expansion Analysis of North America HealthTech Market
- Problems and Obstacles in North America HealthTech Market
- Competitive Landscape in the North America HealthTech Market
- Impact of COVID-19 and Demonetization on North America HealthTech Market
- Details on Current Investment in North America HealthTech Market
- Competitive Analysis of North America HealthTech Market
- Prominent Players in the North America HealthTech Market
- SWOT Analysis of North America HealthTech Market
- North America HealthTech Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the North America HealthTech Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America HealthTech Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America HealthTech Market
7. North America HealthTech Market, By Technology (USD Million)
7.1. North America HealthTech Market Value Share and Forecast, By Technology, 2024-2033
7.2. Digital Health Systems
7.2.1. EHR
7.2.2. E-Prescribing Systems
7.3. Healthcare Analytics
7.4. mHealth
7.4.1. mHealth Apps
7.4.2. Services
7.4.3. Wearables
7.5. Tele-healthcare
7.5.1. Tele-care
7.5.2. Telehealth
8. North America HealthTech Market, By Component (USD Million)
8.1. North America HealthTech Market Value Share and Forecast, By Component, 2024-2033
8.2. Hardware
8.3. Services
8.4. Software
9. North America HealthTech Market Forecast, 2020-2033 (USD Million)
9.1. North America HealthTech Market Size and Market Share
10. North America HealthTech Market, By Technology, 2020-2033 (USD Million)
10.1. North America HealthTech Market Size and Market Share By Technology (2020-2026)
10.2. North America HealthTech Market Size and Market Share By Technology (2027-2033)
11. North America HealthTech Market, By Component, 2020-2033 (USD Million)
11.1. North America HealthTech Market Size and Market Share By Component (2020-2026)
11.2. North America HealthTech Market Size and Market Share By Component (2027-2033)
12. North America HealthTech Market, By Region, 2020-2033 (USD Million)
12.1. North America HealthTech Market Size and Market Share By Region (2020-2026)
12.2. North America HealthTech Market Size and Market Share By Region (2027-2033)
12.3. Canada
12.4. U.S
13. Company Profile
13.1. Allscripts
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. Airstrip Technologies
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Apple, Inc.
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Cisco Systems Inc.
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Cerner Corp.
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Computer Programs and Systems, Inc.
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. Epic Systems Corp.
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Google, Inc.
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. IBM Corp.
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. McKesson Corp.
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Qualcomm Technologies, Inc.
13.11.1. Company details
13.11.2. Financial outlook
13.11.3. Product summary
13.11.4. Recent developments
13.12. QSI Management, LLC
13.12.1. Company details
13.12.2. Financial outlook
13.12.3. Product summary
13.12.4. Recent developments
13.13. Samsung Electronics Co. Ltd.
13.13.1. Company details
13.13.2. Financial outlook
13.13.3. Product summary
13.13.4. Recent developments
13.14. Vodafone Group
13.14.1. Company details
13.14.2. Financial outlook
13.14.3. Product summary
13.14.4. Recent developments
13.15. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope