Market Trends of North America Wireless Healthcare Industry
Growing Presence of Digital Health Startups and Increased Investments in Healthcare Technology to Drive the Market Growth
- The rise of startups in the wireless healthcare domain leads to the creation of specialized solutions catering to specific medical conditions, patient demographics, and healthcare scenarios. These tailored offerings ensure that wireless healthcare technologies are designed to meet North American patients' diverse and evolving needs.
- For instance, in July 2023, Herself Health, a business that provides primary care for women over the age of 65, said that it had secured a USD 26 million Series A fundraising round. Further, in August 2023, Daybreak, a United States-based healthcare startup, announced a USD 13 million Series B funding, which Union Square Ventures is leading. The current strategy is to expand its service footprint across additional school districts nationally.
- Many startups focus on telehealth platforms and remote monitoring solutions that utilize wireless communication. These technologies enable virtual consultations, remote diagnostics, and continuous health tracking, ensuring patients receive timely care and monitoring from the comfort of their homes.
- The surge in investments in healthcare technology, particularly in the wireless healthcare sector, injects capital into startups and emerging companies. This financial support accelerates wireless healthcare innovations' research, development, and commercialization, fostering market growth.
- Moreover, as per StartUp Health, eight of the ten most significant investments in the field of digital health were made in the United States in 2022. Ultima Genomics, a US business, received USD 600 million in investment, making it the biggest deal. Such instances indicate the country's increased focus on investments in health startups, thereby contributing to the market growth.
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United States to Hold a Significant Market Share
- The United States is positioned to guide the region's wireless healthcare revolution with its robust healthcare infrastructure, technological expertise, and strategic investments, driving transformative changes in patient care, healthcare delivery, and overall wellness management.
- Further, the country hosts a vibrant digital health ecosystem encompassing a wide spectrum of stakeholders, including healthcare providers, technology companies, regulators, insurers, and patient advocacy groups. This collaborative environment accelerates the adoption and integration of wireless healthcare solutions.
- In addition, the United States has witnessed significant growth in telehealth and virtual care, driven by the need for remote healthcare services. Wireless technologies enable seamless telehealth consultations, remote monitoring, and digital health platforms, making the country favorable for wireless healthcare adoption.
- Moreover, according to the American Medical Association (AMA), in 2022, tele-visits or virtual visits account for a more significant adoption rate, accounting for about 80% of the respondents, owing to the increased significance of efficient and improved patient care in the country.
- Further, the United States serves as an innovation hub for wireless healthcare technologies, promoting the creation of innovative solutions that can transform patient care, diagnostics, treatment, and preventive measures.
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