Market Overview
The Digital Health market is predicted to develop at a compound annual growth rate (CAGR) of 13.3% from 2024 to 2034, when it is projected to reach USD 954.12 Billion, based on an average growth pattern. The market is estimated to reach a value of USD 272.13 Billion in 2024.
SOURCE: We Market Research
The use of
digital innovations and information technology to improve healthcare
administration, delivery, and outcomes is included in the digital health
market. Data analytics, wearable technology, health apps, telemedicine, and
electronic health records (EHRs) are all included in this. The market is driven
by factors such as the growing need for effective healthcare services, the
increasing prevalence of chronic diseases, and the increasing adoption of smartphones
and internet connectivity. Better data-driven decision-making, quicker
workflows for healthcare practitioners, increased patient engagement, and
remote monitoring are just a few advantages it provides. The global market for
digital health services is expanding quickly as both new and well-established
businesses invest in cutting-edge technologies to optimize and change
healthcare delivery worldwide.
The digital health market is growing globally due to several significant factors are, more people are using smartphones and wearable technologies, which has expanded the range of digital health options available. Second, the increased prevalence of chronic illnesses calls for the need for more efficient and distant healthcare services. Moreover, innovative solutions to healthcare issues are made possible by recent advancements in big data analytics, IoT, AI, and other domains. The need for accessible healthcare and government initiatives to promote digital healthcare are further factors driving market growth. Furthermore, the COVID-19 epidemic has accelerated the adoption of telehealth and remote monitoring technology. These elements are all involved in the adoption and dissemination of digital health technology worldwide.
Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 272.13 Billion |
|
Market Forecast in 2034 |
USD 954.12Billion |
|
CAGR % 2024-2034 |
13.3% |
|
Base Year |
2023 |
|
Historic Data |
2016-2022 |
|
Forecast Period |
2024-2034 |
|
Report USP
|
Production, Consumption, company share, company
heatmap, company production capacity, growth factors and more |
|
Segments Covered |
By Technology, by Component and By Region |
|
Regional Scope |
North America, Europe, APAC, South America and
Middle East and Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic
Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia;
Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa;
Nigeria |
Digital Health Industry: Dynamics & Restrains
Market opportunity:
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Digital Health Segmentation
Market- By Service Analysis
By Service, the Digital Health Market is Categories into Telehealthcare (Telecare, Telehealth), mHealth (Wearables, Apps). The Telehealthcare segment accounts for the largest share of around 53% in 2024.
The telehealthcare subsegment is propelled
by its capacity to offer remote patient monitoring, virtual consultations, and
enhanced accessibility to healthcare, particularly in remote or underserved
locations, hence augmenting efficiency and convenience.
The
following segments are part of an in-depth analysis of the global Digital
Health market:
|
Market Segments |
|
|
By Component |
·
Hardware ·
Software ·
Service |
Digital Health Industry: Regional Analysis
North America Market Forecast
North America dominate the Digital Health Market with the highest revenue generating market with share of more than 46%. The Digital Health market in North America thrives due to the advanced healthcare infrastructure and technology usage. Expanding telehealth is encouraged by supportive policies. The need for virtual care and remote monitoring is being driven by an increase in the prevalence of chronic illness.
Europe Market Statistics
Europe's aging
population and healthcare cost pressures fuel digital health adoption.
Favorable regulations promote telemedicine and mHealth. Strong investment in
healthcare IT enhances accessibility and efficiency of healthcare services.
Asia Pacific Market Forecasts
Asia Pacific is
expected to be the fastest-growing regional segment of the Digital Health
market during the forecast period. Increasing healthcare spending and
smartphone penetration boost digital health uptake. Demand for remote
healthcare rises in rural areas. Government initiatives drive adoption of
telemedicine, leveraging mobile technologies for healthcare access.
Key Market Players
The Digital
Health Market is dominated by a few large companies, such as
·
BioTelemetry Inc
·
eClinicalWorks
·
Allscripts Healthcare Solutions
Inc
·
iHealth Lab Inc
·
AT & T
·
Honeywell International Inc
·
Athenahealth Inc.
·
Cisco Systems
·
McKesson Corporation
·
Koninklijke Philips N.V.
·
AdvancedMD Inc.
· Cerner Corporation
· Other
1. Global Digital Health Market Introduction and Market Overview
1.1. Objective of the Market Research Study
1.2. Digital Health Market Definition & Description
1.3. Research Data Parameters & Reporting Timelines
1.3.1. Historical Data Reporting Years – 2020 to 2021
1.3.2. Projected Data Reporting Years – 2022 to 2033
1.3.3. Reporting Data Parameters – Value (US$ Million)
1.4. Global Digital Health Market Scope and Market Estimation
1.4.1. Global Digital Health Overall Market Size (US$ Million), Market CAGR (%), Market Estimates & Forecast (2020 to 2033)
1.4.2. Global Digital Health Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2020 to 2033
1.5. Digital Health Market Segmentation
1.5.1. Technology of Global Digital Health Market
1.5.2. Component of Global Digital Health Market
1.5.3. Key Regions of Global Digital Health Market
2. Global Digital Health Market - Executive Summary
2.1. Global Digital Health Market – Summary & Snapshot
2.2. Global Digital Health Market, By Technology (US$ Million)
2.3. Global Digital Health Market, By Component (US$ Million)
2.4. Global Digital Health Market, By Geography (US$ Million)
2.5. Global Digital Health Market Outlook & Future Opportunities
3. Digital Health Market Trends, Outlook, and Factors Analysis
3.1. Global Digital Health Market Industry Development Trends under COVID-19 Outbreak
3.1.1. Global COVID-19 Status Overview
3.1.2. Influence of COVID-19 Outbreak on Global Digital Health Market Industry Development
3.1.3. Pre & Post COVID-19 Trends and Scenarios
3.2. Digital Health Market Dynamics (Growth Impacting Factors & Rationales)
3.2.1. Drivers
3.2.1.1. Some o the main reasons for growth in global digital health market are growing demand for remote monitoring services, mHealth startup, increase in adoption of technology in healthcare sector.
3.2.2. Restraints
3.2.2.1. Prices of digital healthcare equipment may not be affordable for every class of society. Accuracy can also alter the growth of digital health market.
3.2.3. Opportunities
3.2.3.1. The use of smartphones in the healthcare sector has been on a tremendous rise and is expected to grow further. Physicians are adopting smartphones, tablets and other mobile platforms for better digital health practices.
3.2.4. Impact Analysis of Drivers and Restraints
3.3. Ecosystem/ Value Chain Analysis
3.4. Porter’s Five Forces Analysis
3.5. SWOT Analysis
3.6. PEST Analysis
3.7. Average Selling Prices and Pricing Trends Analysis of Digital Health Market
3.8. Technological Roadmap
3.9. Key Investment Pockets of Digital Health Market
3.9.1. By Technology
3.9.2. By Component
3.9.3. By Regions
4. Global Digital Health Market: Estimates & Historic Trend Analysis (2020 to 2021)
4.1. Global Digital Health Market, 2020 – 2021 (US$ Million)
4.2. Global Digital Health Market, By Technology, 2020 To 2021 (US$ Million)
4.3. Global Digital Health Market, By Component, 2020 To 2021 (US$ Million)
4.4. Global Digital Health Market, By Region, 2020 To 2021 (US$ Million)
5. Global Digital Health Market Estimates & Forecast Trend Analysis, by Technology
5.1. Global Digital Health Market Share (%) Estimates and Forecasts, by Technology, 2022 & 2033
5.2. Global Digital Health Market Revenue (US$ Million) Estimates and Forecasts, by Technology, 2022 to 2033
5.2.1. Telehealthcare
5.2.1.1. Telecare
5.2.1.1.1. Activity monitoring
5.2.1.1.2. Remote medication management
5.2.1.2. Telehealth
5.2.1.2.1. LTC monitoring
5.2.1.2.2. Video consultation
5.2.2. mHealth
5.2.2.1. Wearables
5.2.2.1.1. BP Monitor
5.2.2.1.2. Glucose meter
5.2.2.1.3. Pulse oximeter
5.2.2.1.4. Sleep apnea monitors
5.2.2.1.5. Neurological monitors
5.2.2.1.6. Others
5.2.2.2. Apps
5.2.2.2.1. Medical apps
5.2.2.2.2. Fitness apps
5.2.2.2.3. Health analytics
5.2.2.2.4. Digital health systems
5.2.2.2.4.1. Electronic health records
5.2.2.2.4.2. E-prescribing systems
6. Global Digital Health Market Estimates & Forecast Trend Analysis, by Component
6.1. Global Digital Health Market Share (%) Estimates and Forecasts, By Component, 2022 & 2033
6.2. Global Digital Health Market Revenue (US$ Million) Estimates and Forecasts, by Component, 2022 to 2033
6.2.1. Hardware
6.2.2. Software
6.2.3. Service
7. Global Digital Health Market Analysis and Forecast, by Region
7.1. Global Digital Health Market Share (%) Estimates and Forecasts, By Region, 2022 & 2033
7.2. Global Digital Health Market Revenue (US$ Million) Estimates and Forecasts, By Region, 2022 To 2033
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Middle East and Africa
7.2.5. Latin America
8. North America Digital Health Market: Estimates & Forecast Trend Analysis
8.1. North America Digital Health Market Assessments & Key Findings
8.2. North America Digital Health Market Share (%) Estimates and Forecasts, 2022 & 2033
8.3. North America Digital Health Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
8.3.1. By Technology
8.3.2. By Component
8.3.3. By Major Country
8.3.3.1. The U.S.
8.3.3.2. Canada
9. Europe Digital Health Market: Estimates & Forecast Trend Analysis
9.1. Europe Digital Health Market Assessments & Key Findings
9.2. Europe Digital Health Market Share (%) Estimates and Forecasts, 2022 & 2033
9.3. Europe Digital Health Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
9.3.1. By Technology
9.3.2. By Component
9.3.3. By Major Country
9.3.3.1. Germany
9.3.3.2. The U.K.
9.3.3.3. France
9.3.3.4. Italy
9.3.3.5. Spain
9.3.3.6. Rest of Europe (includes all other European countries)
10. Asia Pacific Digital Health Market: Estimates & Forecast Trend Analysis
10.1. Asia Pacific Digital Health Market Assessments & Key Findings
10.2. Asia Pacific Digital Health Market Share (%) Estimates and Forecasts, 2022 & 2033
10.3. Asia Pacific Digital Health Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
10.3.1. By Technology
10.3.2. By Component
10.3.3. By Major Country
10.3.3.1. China
10.3.3.2. Japan
10.3.3.3. India
10.3.3.4. ASEAN
10.3.3.5. South Korea
10.3.3.6. Rest of Asia Pacific (includes all other Asia Pacific countries)
11. Middle East & Africa Digital Health Market: Estimates & Forecast Trend Analysis
11.1. Middle East & Africa Digital Health Market Assessments & Key Findings
11.2. Middle East & Africa Digital Health Market Share (%) Estimates and Forecasts, 2022 & 2033
11.3. Middle East & Africa Digital Health Market Size Estimates and Forecast (US$ Million) (2022 To 2033)
11.3.1. By Technology
11.3.2. By Component
11.3.3. By Major Country
11.3.3.1. GCC
11.3.3.2. South Africa
11.3.3.3. Egypt
11.3.3.4. Rest of Middle East & Africa (includes all other Middle East & Africa countries)
12. Latin America Digital Health Market: Estimates & Forecast Trend Analysis
12.1. Latin America Market Assessments & Key Findings
12.2. Latin America Digital Health Market Share (%) Estimates and Forecasts, 2022 & 2033
12.3. Latin America Digital Health Market Size Estimates and Forecast (US$ Million) (2022 to 2033)
12.3.1. By Technology
12.3.2. By Component
12.3.3. By Major Country
12.3.3.1. Brazil
12.3.3.2. Mexico
12.3.3.3. Rest of Latin America (includes all other Latin America countries)
13. Competitive Landscape
13.1. Digital Health Market Revenue Share Analysis (%), By Major Players (2021)
13.2. Digital Health Market Competition Matrix, By Leading Players
13.3. Digital Health List of Emerging, Prominent and Leading Players
13.4. Major Mergers & Acquisitions, Partnership, Joint Venture, Expansions, Deals, Recent Developments, Etc.
14. Company Profiles
14.1. Allscripts Healthcare Solution, Inc.
14.1.1. Company Overview & Insights
14.1.2. Financial Performance
14.1.3. Product / Service Portfolio
14.1.4. Geographical Footprint & Share
14.1.5. Strategic Initiatives & Key Developments
*Similar details would be provided for all the players mentioned below
14.2. Cerner Corporation
14.3. Cisco systems
14.4. eCLINICALWORKS
14.5. General Electric company
14.6. Koninklijke Philips N.V
14.7. Honeywell International Inc.
14.8. Mckesson Corporation
14.9. Siemans Healthcare AG
14.10. Qualcomm technologies, Inc.
14.11. Koninklijke Philips N.V.
14.12. 3DHISTECH
14.13. Apollo Enterprise Imaging
14.14. Konfoong Biotech International Co., Ltd
14.15. XIFIN, Inc
14.16. Akoya Biosciences
14.17. Corista
14.18. Indica Labs
14.19. Kanteron Systems
14.20. AirStrip Technologies
14.21. Google, Inc.
14.22. Samsung Electronics Co., Ltd.
14.23. Others
15. Assumptions and Research Methodology
15.1. Data Mining
15.2. Secondary Research
15.3. Primary Research
15.4. Subject Matter Expert Advice
15.5. Quality Check
15.6. Final Review
15.7. Data Triangulation
15.8. Bottom-Up Approach
15.9. Top Down Approach
15.10. Research Flow
15.11. Key Insights from Industry Experts
15.12. Data Technologys
15.13. Assumptions
15.14. Limitations
16. Conclusions and Recommendations
16.1. Key Research Findings and Conclusion
16.2. Key Insights & Recommendations from Analysts
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Digital Health Market was valued at USD 272.13 Billion in 2024.
Digital Health Market size will increase at approximate CAGR of 13.3% during the forecasted period.
Major companies operating within the Digital Health Market Are BioTelemetry Inc, eClinicalWorks, Allscripts Healthcare Solutions Inc, iHealth Lab Inc, AT & T, Honeywell International Inc, Athenahealth Inc., Cisco Systems, McKesson Corporation, Koninklijke Philips N.V., AdvancedMD Inc., Cerner Corporation and Other.
North America dominates the market with an active share of 46%.
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