UK Digital Health Market to Grow Significantly in the Coming Years
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The amount of money that Americans spend on healthcare is high when compared to other countries. According to a report by Grand View Research, the digital health market in the country is expected to grow significantly in the next few years. The report gives an overview of the market size of UK digital health from 2014 to 2025. It highlights the potential growth prospects of online healthcare in the digital era and how it can help reduce healthcare costs.
The report uncovered the following key findings:
The UK digital health market is expected to reach $206.87 billion by 2025, growing at a CAGR of 18.2% from 2018 to 2025. This growth is driven by factors such as the increasing use of smartphones and tablets, rising awareness about health and fitness, and the government’s initiatives to promote e-health.
The wearable device segment is expected to grow at the highest CAGR of 19.5% from 2018 to 2025 owing to the increasing demand for fitness trackers and smartwatches.
The hospital segment held a market share of 38.4% in 2017 and is expected to grow at a CAGR of 17.9% from 2018 to 2025 owing to the increasing adoption of digital health solutions by hospitals for better patient care management.
Conclusion:
There is no doubt that online healthcare services have a lot of potentials and can help reduce healthcare costs in the United Kingdom. With more people becoming aware of health and fitness, and with government initiatives promoting e-health, it is expected that the market for digital health will continue to grow in the coming years. Hospitals are already starting to adopt digital health solutions for better patient care management, and this trend is expected to continue in the future.
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