Global Digital Health Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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May 2023
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This report was compiled by Trishita Deb Trishita Deb is an experienced market research and consulting professional with over 7 years of expertise across healthcare, consumer goods, and materials, contributing to over 400 healthcare-related reports. Correspondence Team Lead- Healthcare Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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The Digital Health Market Report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global digital health market report has been segmented on the basis of product type, component, end-user, and region.
Digital Health Market Overview:Â Â
The Digital Health Market was valued at $152.6 billion in 2021 & is projected to reach $320 billion by 2028. It is expected to grow at a 15.7% CAGR between 2021 and 2028.
Digital health uses digital, mobile, and cloud-based platforms in order to offer better healthcare services to patients. Digital health platforms include telemedicine, mobile health (mHealth), health information technology (IT), wearable devices, and personalized medicine.
Digital health platform brings patients, health care practitioners, researchers, medical device manufacturers, and mobile application developers (mHealth provider) into the healthcare system in order to develop an effective healthcare system.
Digital health covers cost-effective diagnosis, treatment, consultation, and long-term care services as compared to the traditional healthcare system. In the Digital Health Market, Materials Informatics advances personalized medicine, optimizing the discovery and development of innovative healthcare solutions.
Digital Health Market Dynamics:
Rising technological advancements in healthcare IT such as cloud-based storage systems along with and growing preference for smartphones and tablets by healthcare professionals in order to keep track and monitor patient health are major factors expected to drive the growth of the global digital health market over the forecast period.
For instance, increasing adoption of the cloud-based electronic medical records in order to share electronic records with entire healthcare stakeholders for smooth and efficient operation.
In addition, increasing government initiatives towards the adoption of various healthcare IT solutions such as electronic medical records, e-prescribing systems, remote patient monitoring, and wearable medical devices. These are some other factors expected to further fuel the growth of the target market over the forecast period.
Furthermore, the growing aging and geriatric population coupled with the high prevalence of chronic disease is another factor expected to boost the growth of the target market over the forecast period.
However, increasing security concerns related to patient data is a key factor expected to restrain the growth of the global digital health market over the forecast period. In addition, higher capital cost for the installation of technologically advanced systems is another factor expected to hamper the growth of the target market in the near future.
Increasing demand for cloud-based systems along with mobile apps is expected to create potential revenue opportunities for players operating in the global digital health market over the forecast period.
Digital Health Market Analysis by Region:
The market in North America is expected to dominate the global digital health market in terms of revenue over the forecast period, owing to the increasing incidence of chronic diseases and government initiatives such as raising funding for electronic medical records (EMR) across various countries in this region.
The market in Europe is expected to register a significant share over the forecast period, owing to increasing demand for technologically advanced products and government initiatives for the implementation of e-Health law across various countries in this region.
Global digital health market segmentation:
Segmentation by product type:
- Healthcare Information Systems
- Clinical Solutions
- EHR/EMR
- Clinical Decision Support System (CDSS)
- Computerized Physician Order Entry (CPOE)
- mHealth
- Connected Medical Devices
- mHealth Applications
- Fitness Apps
- Medical Reference
- Wellness
- Medical Condition Management
- Nutrition
- Remote Consultation
- Reminders and Alerts
- Diagnostics
- eHealth Services
- Telehealth
- Population Health Management
- Non-clinical Solutions
- Clinical Solutions
- Wearable Devices
- Diagnostic and Monitoring Devices
- Digital Therapeutic Devices
- Pain Management Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
- Insulin Pumps
Segmentation by component:
- Hardware
- Software
- Services
Segmentation by end-user:
- Business-to-Business (B2B)
- Business-to-Consumers (B2C)
Segmentation by region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn - Healthcare Information Systems
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- Allscripts Healthcare Solutions Inc.
- McKesson Corporation
- eClinicalWorks LLC
- Cisco Systems, Inc.
- QUALCOMM Incorporated
- Philips Healthcare Informatics, Inc.
- AT&T Inc.
- Apple Inc.
- AirStrip Technologies, Inc.
- Cerner Corporation
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