Market Research

A glance at the market of health technology (2020-2025)

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With the increasing number of smart phones and the provision of required infrastructure, a huge change has taken place in healthtech market. The effects of these changes on new drugs, devices and methods of health assessment have been able to reduce the pain and suffering caused by the diseases. According to World Health Organization (WHO), the use of organized knowledge and skills in the form of devices, drugs, vaccines, methods and systems to solve health problems and improve lives is called healthtech. By definition, the market in which such businesses exist is a market with a wide range of different services and technologies that has great potential in terms of both the number of customers (users) and the growth of technology.

Base YearMarket size(B$)Duration(YEAR)CAGR(%)Source Name
2019106728.50%Gminsight
201886.4729.60%Prnewswire
2019101.41021.80%Psmarketresearch
2019111.4629.00%globenewswire
2019103.1624.60%Prnewswire

Influencing factors that changes market size of health technology

The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of health technology

Direct drivers:

  1. Prevalence of chronic diseases
  2. Elderly population
  3. Technology advancement

Reverse drivers:

  1. Health costs
  2. Lack of proper infrastructure
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The market of health technology may also be threatened by following risks:

In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of health technology may also be threatened by the following risks:

  1. Reputation risk
  2. Legislation risk
  3. Maturity risk

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