Category : Healthcare and Pharmaceuticals | Published at : August-2022 | Delivery Format : PDF | Status: Published | Pages : 250
The Global Digital Health Market Size is valued at USD 181 Billion in 2021 and is estimated to achieve a market size of USD 1,041 Billion by 2030; growing at a CAGR of 21.6%.
Healthcare technology has been transformed during the last decades. The introduction of new technology has digitalized the healthcare sector. Digital health includes digital health platforms such as mobile health telehealth, and other wireless solutions to provide real-time healthcare services to the patient. The increasing demand for home diagnosis and the positive impact of digital technology is a game changer technology in the healthcare sector. This technology has made it possible to provide a real-time diagnosis of diseases. The increasing adoption of smartphones, wearables, and other data reading platforms is fueling the digital health market share. However, high capital investments and privacy concerns are some of the factors that are creating hurdles in the digital health market growth. Furthermore, the rising adoption of technologies such as AI, big data, and IoT is expected to generate significant digital health market revenue during the forecast timeframe from 2022 to 2030.
Global Digital Health Market DRO’s:
Market Drivers:
- Rapidly increasing healthcare IT infrastructure
- Surging adoption of smartphones, tablets, and other platforms
- Growing healthcare expenditure
Market Restraints:
- Cybersecurity and privacy concerns
- High capital investments and maintenance required
Market Opportunities:
- Rise in AI, IoT, and big data
- Growing adoption of mobile health applications
Digital Health Market Report Coverage:
| Market | Digital Health Market |
| Digital Health Market Size 2021 | USD 181 Billion |
| Digital Health Market Forecast 2030 | USD 1,041 Billion |
| Digital Health Market CAGR During 2022 - 2030 | 21.6% |
| Digital Health Market Analysis Period | 2018 - 2030 |
| Digital Health Market Base Year | 2021 |
| Digital Health Market Forecast Data | 2022 - 2030 |
| Segments Covered | By Component, By Technology, And By Region |
| Digital Health Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Key Companies Profiled | AT&T Inc., Allscripts Healthcare Solutions Inc., Aruba Networks, Inc., Apple Inc., Alcatel-Lucent Corporation, Agfa-Gevaert N.V., AirStrip Technologies LP, Cerner Corporation, Symantec Corporation, Cisco Systems, Inc., Siemens Healthcare Epic Systems Corp., Qualcomm, Inc., and Philips Healthcare. |
| Report Coverage |
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Healthcare technology has been transformed during the last few years. The increasing prevalence of various diseases such as diabetes and chronic cardiovascular diseases has driven the growth of the digital health market. The global digital health market is majorly driven by development in healthcare technology, digitalization of various devices, and increasing spending power of the people. The increasing geriatric population, rising prevalence of diabetes and other chronic diseases, and increasing government support have catalyzed the market growth. According to the WHO, over 422 million people across the globe were suffering from diabetes. Additionally, continuously transforming the healthcare sector and increasing awareness among the people has supported the growth of the market. Rising telehealth and telemedicine sectors are one of the digital health market trends that are fueling the industry demand in the coming years. However, the high cost of advanced digital equipment and high maintenance costs may slow the growth of the market.
Digital Health Market Segmentation
The market can be bifurcated on the basis of component, technology, and region.
Digital Health Market by Component
- Hardware
- Software
- Services
According to our digital health industry analysis, the services sub-segment will have the largest market share due to the increasing demand for a variety of services such as installation, training, maintenance, training, and many others. Furthermore, the increasing focus of key players on providing various types of services in the digital health market space is driving digital health market share. For example, well-known companies offer a wide range of pre-and post-installation services, including project planning, staffing, training, implementation, and resource allocation and optimization. On the other hand, the software sub-segment is expected to grow the fastest between 2022 and 2030. The segment's rapid growth can be attributed to the rising demand for software systems in the healthcare industry, which includes healthcare facilities, patients, healthcare providers, and insurance payers.
Digital Health Market by Technology
- Telehealth
- Activity Monitoring
- LTC Monitoring
- Video Consultation
- Remote Medication Management
- Others
- Health Analytics
- MHealth
- BP Monitor
- Pulse Oximeter
- Glucose Meter
- Sleep Apnea Monitors
- Neurological Monitors
- Digital Health Systems
- Others
The telehealth sub-segment will account for the majority of the share in 2021 and is likely to do so in the coming years. Telehealth sub-segment is further divided into activity monitoring, LTC monitoring, video consultation, remote medication management, and others. Telehealth is the application of communication technologies and digital information to access and manage health care services remotely. Rising adoption of computers, laptops/tablets, and smartphones in the telehealth fuels the digital health market size.
Digital Health Market Regional Outlook
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Latin America
- Mexico
- Brazil
- Rest of Latin America
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
The Middle East & Africa (MEA)
- Gulf Cooperation Council (GCC)
- South Africa
- Rest of the Middle East & Africa
Presence of leading digital health players in US fuels the North America digital health market value
North America dominates the global digital health market owing to the presence of a well-developed economy, increasing demand for advanced products, high spending power, and the presence of many leading players. The U.S. holds the major share of the North American digital health market. Europe accounts for the second major market for digital health. The major factors driving the growth of the European market are the availability of huge funds for research and development, huge government support, and the high per capita income of the people. The Asia Pacific is expected to be the fastest growing market which is majorly attributed to the presence of rapidly developing economies and increasing digitalization in technology. LAMEA holds the least market. However, there are huge untapped opportunities in the LAMEA market which is the reason this reason is expecting a healthy future for the market during the forecasted period 2022-2030.
Digital Health Market Players
Some of the global digital health companies profiled in the report include AT&T Inc., Allscripts Healthcare Solutions Inc., Aruba Networks, Inc., Apple Inc., Alcatel-Lucent Corporation, Agfa-Gevaert N.V., AirStrip Technologies LP, Cerner Corporation, Symantec Corporation, Cisco Systems, Inc., Siemens Healthcare Epic Systems Corp., Qualcomm, Inc., and Philips Healthcare.
Frequently Asked Questions
The global digital health market size in 2021 was accounted to be USD 181 Billion.
The projected CAGR digital health market during the analysis period of 2022 to 2030 is 21.6%.
The prominent players of the global digital health market are AT&T Inc., Allscripts Healthcare Solutions Inc., Aruba Networks, Inc., Apple Inc., Alcatel-Lucent Corporation, Agfa-Gevaert N.V., AirStrip Technologies LP, Cerner Corporation, Symantec Corporation, Cisco Systems, Inc., Siemens Healthcare Epic Systems Corp., Qualcomm, Inc., and Philips Healthcare.
North America held the dominating digital health during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for digital health during the analysis period of 2022 to 2030.
Rapidly increasing healthcare IT infrastructure, surging adoption of smartphones, tablets, and other platforms, and growing healthcare expenditure drives the growth of global Digital Health market.
Based on component, services segment held the maximum share digital health market in 2021.
