Digital Health Market Overview:
The global digital health market size was valued at $145,884.3 million in 2020, and is projected to reach $767,718.9 million by 2030, registering a CAGR of 17.9% from 2021 to 2030.
Digital health is defined as the use of information and communication technologies in the healthcare sector for the management of chronic disease from remote areas. The digital health market includes mobile health (mHealth), wearable devices, telehealth & telemedicine, health information technology (IT), and personalized medicine. It offers various services, which enable consumers for early diagnosis of life-threatening disease and for the management of chronic disease.
Growth of the global digital health market is majorly driven by an increase in demand for remote monitoring services; rise in funding from private & government organizations for mHealth startup; rise in prevalence of chronic disease; and increase in technology in the healthcare sector. For instance, American Telemedicine Association (ATM) entered into a partnership with the UK-based digital health and launched a new resource for evaluating mHealth app. As per the data published in the Pew Research Center, in April 2021, it was reported that 97% of cellphones and 85% of smartphones are owned by adults in the U.S. In addition, rise in geriatric population who are more vulnerable to chronic diseases fuels the digital health market growth during the forecast period. According to Beijing, in 2019, it was reported that over 180 million geriatric population in China was living with chronic diseases. In addition, in January 2019, Omron Healthcare, Inc., a subsidiary of Omron Corporation launched the Heart Guide, the first wearable blood pressure monitor with digital health service. Thus, the presence of key players in healthcare information technologies and rise in geriatric population propel the growth of the market.
However, concerns related to ensuring regulatory compliance are expected to restrict the digital health market growth during the forecast period.
Digital Health Market Segmentation
The digital health market is segmented on the basis of product & service, component, end user, and region. By product & service, the market is categorized into mHealth and eHealth. The mHealth segment is further classified into mHealth devices and mHealth services. The mHealth devices segment is further divided into blood glucose meter, BP monitors, pulse oximetry, neurological monitors, cardiac monitors, apnea & sleep monitors, wearable fitness sensor device & heart rate meters, and others. Further, the mHealth services segment is classified into prevention services, diagnostic services, monitoring services, treatment services, and wellness & healthcare system strengthening solutions. The eHealth segment is classified into electronic health records (EHR), vendor neutral archive (VNA) and picture archiving & communications system (PACS), laboratory information systems (LIS), telehealth, prescribing solutions, medical apps, clinical decision support systems (CDSS), pharmacy information systems, and others.
By component, it is divided into software, hardware, and services. By end user, the market is fragmented into healthcare providers, payers, healthcare consumers, and others.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment review
Depending on product & service, the eHealth segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in prevalence of chronic diseases, surge in demand for telehealth & telemedicine, and increase in number of internet users. However, the mHealth segment is expected to witness considerable market growth during the forecast period, owing to increase in demand for remote monitoring services, rise in prevalence of hypertension, and surge in number of smartphone users.
By Product & Service
eHealth segment held a dominant position in 2020 and would continue to maintain the lead over the forecast period.
On the basis of component, the software segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to advancement in healthcare information technology, surge in demand for reducing healthcare cost, and rise in demand for organized data and workflow in the healthcare sector. However, the hardware segment is expected to witness considerable growth during the forecast period, owing to surge in number of investments in digital infrastructure and increase in demand for software upgrade and installation.
By Component
Software segment is projected as one of the most lucrative segment.
On the basis of end user, the healthcare providers segment dominated the market in 2020, and is expected to continue this trend during the forecast period, owing to increase in prevalence of chronic diseases, surge in demand for mHealth app, and use of innovative technologies in the healthcare sector. However, the payers segment is expected to witness considerable growth during the forecast period, owing to increase in cost of healthcare system and surge in demand for healthcare IT solution.
By End User
Healthcare Providers segment is projected as one of the most lucrative segment.
North America accounted for a major share in the digital health market in 2020, and is expected to maintain its dominance during the forecast period, owing to rise in prevalence of chronic diseases, presence of key players, adoption of smartphone users, and advancements in healthcare information technology in the region. However, Asia-Pacific is expected to register highest CAGR of 28.1% from 2021 to 2030, owing to increase in prevalence of chronic diseases, rise in geriatric population, increase in demand for remote monitoring services, and rise in number of internet users.
By Region
North America was holding a dominant position in 2020 and would continue to maintain the lead over the analysis period.
Key players operating in the global digital health market include Allscripts Healthcare Solution, Inc., Cerner Corporation, Cisco systems, eCLINICALWORKS, General Electric company, Koninklijke Philips N.V., Honeywell International Inc., Mckesson Corporation, Siemans Healthcare AG, and Qualcomm technologies, Inc.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the digital health market, and the current trends and future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing digital health market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the digital health market.
Key Market Segments
By Product & Service
- mHealth
- mHealth Devices
- Blood Glucose Meter
- BP Monitors
- Pulse Oximetry
- Neurological Monitors
- Cardiac Monitors
- Apnea & Sleep Monitors
- Wearable Fitness Sensor Devices & Heart Rate Meters
- Others
- mHealth Devices
- mHealth Services
- Prevention Services
- Diagnostic Services
- Monitoring Services
- Treatment Services
- Wellness & Healthcare System Strengthening Solutions
- eHealth
- Vendor Neutral Archive (VNA) and Picture Archiving & Communications Systems (PACS)
- Electronic Health Records (EHR
- Laboratory Information Systems (LIS)
- Telehealth
- Prescribing Solutions
- Medical Apps
- Clinical Decision Support Systems (CDSS)
- Pharmacy Information Systems
- Others
By Component
- Software
- Hardware
- Services
By End User
- Healthcare Providers
- Payers
- Healthcare Consumers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Allscripts Healthcare Solution, Inc.
- Cerner Corporation
- Cisco systems
- eCLINICALWORKS
- General Electric company
- Koninklijke Philips N.V
- Honeywell International Inc.
- Mckesson Corporation
- Siemans Healthcare AG
- Qualcomm technologies, Inc.
Digital Health Market Report Highlights
| Aspects | Details |
 By PRODUCT AND SERVICE |
|
 By COMPONENT |
|
 By END USER |
|
 By Region |
|
 Key Market Players | CERNER CORPORATION, ALLSCRIPTS HEALTHCARE SOLUTIONS INC., eCLINICALWORKS, KONINKLIJKE PHILIPS N.V., CISCO SYSTEMS, MCKESSON CORPORATION, GENERAL ELECTRIC COMPANY, QUALCOMM TECHNOLOGIES, INC., SIEMENS HEALTHINEERS AG, HONEYWELL INTERNATIONAL INC. |
Analyst Review
Growth of the digital health market is attributed to factors such as technological advancements in healthcare sector; rise in prevalence of chronic diseases such as cancer, cardiovascular disease, hypertension, and diabetics; increase in funds from private and government organizations for various mHealth startups, and surge in demand for remote monitoring services. The digital health market gains interest of healthcare information technologies companies, owing to surge in demand for mHealth, blood glucose meter, blood pressure monitors, and pulse oximetry. This leads to increase in adoption of digital health devices. Moreover, the market has gained high traction in digital health services, such as diagnostic services, monitoring services, treatment services, and prevention services, in recent years as digital health devices are used in management and treatment of chronic disease.
Further, North America is expected to witness highest growth, in terms of revenue, owing to rise in prevalence of chronic diseases, presence of key players, and advancements in healthcare information technology.
Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register the fastest CAGR during the forecast period, owing to increase in prevalence of chronic diseases, rise in geriatric population, increase in demand for remote monitoring services, and rise in number of internet users.
In addition, concern related to ensuring regulatory compliance is anticipated to restrain the market growth during the forecast period.
The total market value of digital health Market is $145,884.3 million in 2020.
The forecast period in the report is from 2021 to 2030
The market value of digital health Market in 2021 was $174,379.6 Million
The base year for the report is 2020.
Yes, digital health companies are profiled in the report
The top companies that hold the market share in digital health Market are Allscripts Healthcare Solution, Inc., Cerner Corporation, Cisco systems, eCLINICALWORKS, General Electric company, Koninklijke Philips N.V., Honeywell International Inc., Mckesson Corporation, Siemans Healthcare AG, Qualcomm technologies, Inc.
No, there is no value chain analysis provided in the digital health Market report
The key trends in the digital health Market are advancement in technology in healthcare sector, increase in prevalence of chronic disease, and surge in demand for remote monitoring services
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