Market Trends of United Kingdom Digital Health Industry
mHealth Segment is Expected to Hold a Significant Market Share Over the Forecast Period
The mHealth segment is expected to garner a significant market share over the analysis period. mHealth, or mobile health, is the use of mobile and wireless technologies to support the achievement of health objectives. The most common application of mHealth is the use of mobile devices to educate consumers about preventive healthcare services. Moreover, factors such as the rising burden of chronic diseases, technological advancements, rising public awareness about population health, and government initiatives will drive the market segment's growth.
The mHealth is also used for disease surveillance, treatment support, epidemic outbreak tracking, and chronic disease management. For instance, in November 2022, my mHealth and their NHS partners reported the national rollout of myAsthma Biologic, a digital therapeutic designed to support patients with severe asthma.
The rising government initiatives are expected to boost the segment's growth. For instance, in April 2021, my mHealth, a United Kingdom-based NHS-approved digital therapeutics company with three European collaborators, was awarded a Eurostars Grant worth EUR 2.5 million (USD 2.72 million) for the development of CUOREMA, their innovative program. The CUOREMA project of the Bournemouth-based start-up will focus on the development of a new, patient-centered, and intelligent cardiac rehabilitation support system.
Thus, all the aforementioned factors, such as government initiatives and partnerships, are expected to boost the segment's growth over the forecast period.
Tele-healthcare is Expected to Grow with Significant CAGR Over the Forecast Period
Telehealthcare refers to a wide variety of technologies and facilities used to provide patient care and enhance the overall performance of the healthcare system. Telehealthcare services and systems have made the most progress in the remote management of post-acute care patients with chronic conditions. Telemedicine is the remote delivery of healthcare services, such as consultations over telecommunication or teleconference, and it allows healthcare professionals to evaluate, diagnose, and treat patients. Geriatrics telehealth to empower healthcare providers and improve the management of older veterans in rural communities.
The potential advantages have led to the increasing adoption of healthcare technologies, and players in this country are coming up with innovative launches to further increase telehealth adaptability. For instance, in March 2022, MedXHealth and Health Partners formed a strategic partnership to launch MedX's Teledermatology Screening Platform in the United Kingdom.
Rising healthcare spending and government financing for healthcare services are projected to fuel increasing technology adoption, propelling the market forward. For instance, in June 2022, the NHS (National Health Service) reformed its funding for digital healthcare, which is transforming health and social care through technological applications such as high-speed connectivity, digital skills, and cyber resilience. The NHS invested EUR 150 million (USD 163.06 million) in digital adoption and digitization funding. Digitalizing the health systems can provide clinicians with more timely access to accurate information and support changes to help improve health for all. Such instances may help boost healthcare technology adoption, thereby boosting the market's growth.
Thus, all the aforementioned factors, such as product launches and government funding, are expected to boost market growth over the forecast period.
