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Digital Health Market Analysis by Technology (Telehealthcare (Telecare, Telehealth), mHealth (Wearables, Apps)), by Component (Hardware, Software, Service) and by Region: Global Forecast, 2024 - 2034

  • PUBLISHED ON
  • 2024-07-10
  • NO OF PAGES
  • 238
  • CATEGORY
  • Healthcare & Life Sciences

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:


 We Market Research: Digital Health Dashboard

Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.


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

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.

Frequently Asked Questions

What is the market size of Digital Health Market in 2024?

Digital Health Market was valued at USD 272.13 Billion in 2024.

What is the growth rate for the Digital Health Market?

Digital Health Market size will increase at approximate CAGR of 13.3% during the forecasted period.

Which are the top companies operating within the market?

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.

Which region dominates the Digital Health Market?

North America dominates the market with an active share of 46%.

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