While the worldwide COVID-19 pandemic has accelerated the growth of digital health around the world, the sector won’t slow down in the post-Covid reality, but will look to rise.
According to a report by Graphical Research, the European digital health market share was valued at USD 38.1 billion in 2019 and is expected to witness 28.3 percent CAGR from 2020 to 2026.
“There has been a tremendous rise in the use of smartphones by individuals and physicians in the Europe leading to increased practice of digital health. The penetration of smartphones, tablets and other mobile platforms is one-third of all European adults, with physicians adopting them twice as compared to the general population,” the report highlighted.
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There are many digital health trends that will stay with us for the future:
Expansion of telemedicine
Telemedicine, the act of which doctors see patients virtually rather than face-to-face, has increased during the pandemic. This has made remote consultations easier and preferable.
“It’s about a broader scope of care and new patient groups,” said Nasim Farrokhnia, chair of Swedish eHealth doctors, at a recent German-Swedish HealthTech event.
Intro to VR
The global market of digital health VR is expected to grow to $2.4 billion by 2026 according to Statista, due to its potential to eliminate the need for certain medications or surgeries. VR technology is being used currently to treat chronic pain, anxiety, and post-traumatic stress disorder.
The role of AI
According to Juniper Research, the AI healthcare market is expected to exceed $34 billion by 2025. In the future, AI will be deployed in precision medicine, genomics, drug discovery, and medical imaging.
Take cancer treatments, for example. By using AI’s pattern recognition, doctors can prescribe personalized treatment plans tailored to a patient’s genetic makeup and lifestyle.
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