Home > Healthcare & Medical Devices > Digital Health Market

Digital Health Market Size By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors), Apps (Medical, Fitness)}, Health Analytics, Digital Health System (EHR, e-prescribing System)], By Component [Hardware, Software, Services], Industry Analysis Report, Regional Outlook Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI833
  • Published Date: Sep 2022
  • Report Format: PDF

Industry Overview

Digital Health Market size was over USD 195 billion in 2021 and is poised to depict a CAGR of more than 16% from 2022 to 2030. Rising popularity of remote patient monitoring services will drive the market expansion.
 

Digital Health Market

Get more details on this report - Request Free Sample PDF
 

With the advancement in IT technology and the emergence of remote patient monitoring (RPM) systems, digital healthcare is booming worldwide. RPM has become a cost-effective tool to enhance clinical decision-making and assessment and reduce the chances of hospitalization. The adoption of RPM services is also expected to increase with the growing incidence of cancer, diabetes, and cardiovascular diseases. Furthermore, the expanding geriatric population base is adopting independent and healthy lifestyles, which will likely enhance the use of RPM solutions.
 

Several initiatives are being implemented to ensure that patients suffering from chronic disease have access to digital health solutions. For instance, in September 2021, the UMMC (University of Mississippi Medical Center), in collaboration with the federally qualified North Mississippi Primary Health Care center, announced the use of RPM. The aim was to increase patient access to diabetes care management and enhance health outcomes. Developments such as these are anticipated to generate lucrative opportunities for digital health solution providers over the forecast period.
 

The implementation of electronic health records, medical apps, e-prescriptions, and other digital health technologies require enhanced data security. Breaches can result in huge losses of confidential and critical information, including health insurance IDs, social security numbers, and other medical data. Since medical records are often targeted by cybercriminals during data breaches, growing security concerns may create roadblocks to digital health market expansion.
 

Growing preference for remote monitoring to amplify demand for telehealth solutions

Digital Health Market Share, By Technology

Get more details on this report - Request Free Sample PDF
 

In terms of the type of technology, the digital health market is categorized into digital health systems, health analytics, mHealth, and telehealthcare. The telehealthcare segment is set to cross USD 190 billion by 2030. This can be credited to the paradigm shift from conventional treatments to tech-driven approaches in the healthcare sector worldwide. Telehealth solutions can provide patients with advanced devices to manage health, conduct remote monitoring. They allow experts to mediate in real-time, encouraging more healthcare providers & patients to adopt the technology.
 

Increasing incidence of chronic diseases will fuel the need for digital health services

Based on the component, the market is segregated into services, hardware, and software. The digital health market share from services segment is anticipated to exhibit a growth rate of more than 12% through 2022-2030. One of the key segment drivers is the escalating delivery of digital health services from vendors and the high prevalence of chronic conditions. Moreover, the awareness about the benefits of digital health-related services has been increasing, creating a strong outlook for industry development across the services segment.
 

Initiatives to promote e-health data to define the North American market landscape

Get more details on this report - Request Free Sample PDF
 

North America accounted for over 45% of digital health market share in 2021, due to the rapidly expanding geriatric population and the high prevalence of chronic diseases. Initiatives including the implementation of the HIPAA Act and HITECH Act, to promote the use of e-health data have also been gaining prominence in the U.S. This will assert a positive influence on regional market dynamics.
 

The Middle East and Africa (MEA) digital health industry is projected to reach USD 19.5 billion by 2030, driven by the expansion of communication and information systems and the high penetration of mobile technology. These advancements have enabled innovative approaches to health service delivery and investments in countries such as South Africa, which will foster regional industry growth.
 

Acquisition strategies to add impetus to the competitive landscape

AdvancedMD Inc., Athenahealth, Inc., Koninklijke Philips N.V., Cisco Systems, Allscripts Healthcare Solutions Inc, iHealth Lab, Inc., McKesson Corporation, and eClinicalWorks are some of the key companies operating in the digital health market. Mergers and acquisitions are the major initiatives undertaken by these industry players to expand their foothold in the global market.
 

Impact of COVID-19 crisis on the digital health market trends

The COVID-19 pandemic has led to a sharp increase in the deployment of digital technologies for resource management, tracking, and population screening applications. In the healthcare sector, several companies have launched collaborative portals to share non-identifiable patient data from electronic health records for use in research. Additionally, government agencies such as the WHO have partnered with tech companies to manage the pandemic more efficiently using digital health systems. The rapid shift toward digitalization during the pandemic is thus asserting a positive influence on the industry outlook.
 

The digital health market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030, for the following segments:

By Technology

  • Telehealthcare
    • Telecare
      • Activity Monitoring
      • Remote Medication Management
    • Telehealth
      • LTC Monitoring
      • Video Consultation
  • mHealth
    • Wearables
      • BP Monitor
      • Glucose Meter
      • Pulse Oximeter
      • Sleep Apnea Monitors
      • Neurological Monitors
      • Others
    • Apps
      • Medical apps
      • Fitness apps
  • Healthcare analytics
  • Digital health systems
    • Electronic health record (EHR)
    • E-prescribing systems

By Component

  • Hardware
  • Software 
  • Services

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Poland
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Saudi Arabia

 

Authors: Sumant Ugalmugle, Rupali Swain

Frequently Asked Questions (FAQ) :

The global market for digital health was more than USD 195 billion in 2021 and is set to depict a CAGR of over 16% through 2022-2030, due to the rising acceptance of remote patient monitoring services.

Telehealthcare segment will surpass USD 190 billion by 2030, which can be credited to a paradigm shift from conventional treatments to tech-driven approaches in the global healthcare sector.

MEA digital health market is set to be valued at more than USD 19.5 billion by 2030, as a result of innovative healthcare delivery approaches arising from expansive communication & information systems and the penetration of mobile technology.

Prominent companies in the digital health industry include Athenahealth, Inc., Koninklijke Philips N.V., Cisco Systems, Allscripts Healthcare Solutions Inc, McKesson Corporation, and eClinicalWorks, among others.

Buy Now

Access to only 1 person; cannot be shared; cannot be printed
Access for 2 to 5 users only within same department of one company
Access to a company wide audience; includes subsidiary companies or other companies within a group of companies
Immediate Delivery Available

Premium Report Details

  • Base Year: 2021
  • Companies covered: 10
  • Tables & Figures: 485
  • Countries covered: 17
  • Pages: 300

Get a report that explains COVID-19 impact on this market

 Request Free Sample

Budget constraints? Get in touch with us for special pricing

Request Discount