Digital Health Market: Overview
The Global Digital Health Market Is On An Upward Trajectory, With A Remarkable Worth Of USD 248.22 Billion In 2023, Projected To Soar To USD 1117.88 Billion By 2032, Boasting A Compound Annual Growth Rate (CAGR) Of Approximately 18.20% Throughout The Forecast Period From 2023 To 2032.
The digital health market is expected to experience significant growth in the coming years. Factors driving this growth include the increasing prevalence of chronic diseases, the need for better healthcare access and delivery, and the growing adoption of mobile health technologies. In particular, telemedicine and remote patient monitoring are expected to become increasingly popular among both patients and healthcare providers. Additionally, the use of artificial intelligence and machine learning in healthcare is also expected to grow, with applications ranging from drug discovery to personalized treatment plans. Overall, the digital health market presents a promising opportunity for innovation and improved healthcare outcomes.
This report delves into the burgeoning realm of digital health, where information and communication technology revolutionizes healthcare delivery, providing remote management of chronic illnesses and reshaping the landscape of healthcare as we know it.
Market Drivers:
The digital health market is driven by several key factors:
- Smartphone Penetration: The increasing prevalence of smartphones and health-focused mobile applications is a driving force behind market expansion.
- Healthcare I.T. Infrastructure: Substantial investments in healthcare information technology infrastructure, especially in developing and developed nations, are fueling market growth.
- Pandemic Response: The COVID-19 pandemic has accelerated digital health advancements, fostering innovations such as online symptom checkers, remote patient monitoring tools, and telemedicine services, thus providing enticing market opportunities.
Market Restraints:
However, the market faces challenges such as cybersecurity concerns, budget constraints for sustaining digital health services, and hesitancy regarding data security in healthcare information, which have limited its growth potential.
Market Segmentation:
The global digital health market is segmented into three categories:
1. Technology:
- Telehealthcare
- Telecare
- Telehealth
- mHealth
- Wearables
- mHealth apps and services
Among these, telehealthcare leads the market, maintaining its dominance due to its role in precise health monitoring, secure healthcare data storage, and real-time population management. Software upgrades and the development of diverse healthcare platforms are contributing to market growth.
2. Components:
- Software
- Hardware
- Services
In 2022, the service segment accounted for the highest revenue share, driven by rising demand for services such as training, staffing, installation, and maintenance. The software segment is projected to experience the fastest growth during the forecast period, driven by its adoption across various stakeholders in the healthcare ecosystem.
Regional Landscape:
North America, having been at the forefront of smart healthcare solutions adoption, dominated the market in 2022. Factors such as widespread smartphone adoption, advanced coverage networks, an aging population, rising healthcare costs, and the need for improved chronic disease management drive this region’s growth. Other regions are also witnessing significant advancements in digital health adoption.
Competitive Landscape:
Key players in the global digital health market include Cerner Corporation, Allscripts, Apple Inc., Telefonica S.A., McKesson Corporation, Epic Systems Corporation, AT&T, Vodafone Group, Google Inc., Samsung Electronics Co. Ltd., HiMS, Orange, Qualcomm Technologies, Inc., Softserve, MQure, Computer Programs and Systems, Inc., Vocera Communications, IBM Corporation, and CISCO Systems, Inc.
Recent Developments:
Notable recent developments include American Well’s Converge telehealth platform and GlobalMed’s Transportable Audiology Backpack, both designed to enhance connectivity and deliver remote healthcare services effectively.
COVID-19 Impact:
The COVID-19 pandemic has underscored the importance of digital health technologies in maintaining healthcare access during lockdowns and social distancing measures, driving product acceptance and positively impacting market growth.
In conclusion, the digital health market is experiencing robust growth, fueled by technological advancements and the evolving healthcare landscape. Despite challenges, the future of healthcare is increasingly digital, promising improved access and outcomes for patients worldwide.
The global Digital Health Market is segmented as follows:
Digital Health Market by Technology Outlook (Revenue, USD Million, 2018 – 2032)
- Tele-healthcare
- Tele-care
- Telehealth
- mHealth
- Wearables
- mHealth Apps
- Services
- mHealth Services
Digital Health Market by Participants Outlook (Revenue, USD Million, 2018 – 2032)
- Healthcare Analytics
- Digital Health Systems
- EHR
- E-Prescribing Systems
Digital Health Market by Component Outlook (Revenue, USD Million, 2018 – 2032)
- Software
- Hardware
- Services
Digital Health Market by Region Outlook (Revenue, USD Million, 2018 – 2032)
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
| Digital Health Market Report Scope |
| Report Attribute |
Details |
| Market Size Value in 2022 |
USD 210 billion |
| Revenue Forecast in 2032 |
USD 1117.88 billion |
| Growth Rate |
CAGR of 18.20 % from 2023 to 2032 |
| Base Year for Estimation |
2022 |
| Historical Data |
2017 – 2022 |
| Forecast Years |
2023 – 2032 |
| Quantitative Units |
Revenue in USD million and CAGR from 2023 to 2032 |
| Report Coverage |
Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
| Segments Covered |
Technology, Participants, Component, and Region |
| Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled |
Cerner Corporation; Allscripts; Apple Inc; Telefonica S.A.; McKesson Corporation; Epic Systems Corporation; QSI Management, LLC; AT&T; Vodafone Group; Airstrip Technologies; Google, Inc; Samsung Electronics Co. Ltd; HiMS; Orange; Qualcomm Technologies, Inc; Softserve; MQure; Computer Programs and Systems, Inc; Vocera Communications; IBM Corporation; CISCO Systems, Inc. |
Table of Content
Digital Health Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Technology
1.4.2. Participants
1.4.3. Component
2. Digital Health Market Overview
2.1. Introduction
2.2. Analysis by Technology, 2018-2032 (US$ Billion)
2.3. Analysis by Participants, 2018-2032 (US$ Billion)
2.4. Analysis by Component, 2018-2032 (US$ Billion)
2.5. Market Analysis by Region, 2018-2032 (US$ Billion)
3. Digital Health Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Technology
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Technology
3.6.2. Participants
3.6.3. Component
3.6.4. Region
3.7. Value Chain Analysis
4. Digital Health Market Competition Analysis
4.1. Digital Health Market Share Analysis by Company, 2019 – 2022
4.1.1. Top 3 Players, 2019 – 2022
4.1.2. Top 6 Players, 2019 – 2022
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion and Distribution
5. Global Digital Health Market Analysis by Technology and Component, 2018-2032 (US$ Billion)
5.1. Technology
5.1.1. Global Digital Health Market Share, by Technology, 2022 and 2032
5.1.2. Global Digital Health Market Revenue, by Technology, 2018-2032 (US$ Billion)
5.1.3. By Tele-healthcare Market Analysis 2018-2032 (US$ Billion)
5.1.4. By Tele-care Market Analysis 2018-2032 (US$ Billion)
5.1.5. By Telehealth Market Analysis 2018-2032 (US$ Billion)
5.1.6. By MHealth Market Analysis 2018-2032 (US$ Billion)
5.1.7. By Wearables Market Analysis 2018-2032 (US$ Billion)
5.1.8. By mHealth Apps Market Analysis 2018-2032 (US$ Billion)
5.1.9. By Services Market Analysis 2018-2032 (US$ Billion)
5.1.10. By mHealth Services Market Analysis 2018-2032 (US$ Billion)
5.2. Participants
5.2.1. Market Share, by Participants, 2022 and 2032
5.2.2. Market Revenue, by Participants, 2018-2032 (US$ Billion)
5.2.3. By Software Market Analysis 2018-2032 (US$ Billion)
5.2.4. By Hardware Market Analysis 2018-2032 (US$ Billion)
5.2.5. By Services Market Analysis 2018-2032 (US$ Billion)
5.3. Component
5.3.1. Market Share, by Component, 2022 and 2032
5.3.2. Market Revenue, by Component, 2018-2032 (US$ Billion)
5.3.3. By Software Market Analysis 2018-2032 (US$ Billion)
5.3.4. By Hardware Market Analysis 2018-2032 (US$ Billion)
5.3.5. By Services Market Analysis 2018-2032 (US$ Billion)
6. Global Digital Health Market Technology Analysis by Region, 2018-2032 (US$ Billion)
6.1. Tele-healthcare Market Analysis 2018-2032 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Tele-care Market Analysis 2018-2032 (US$ Billion)
6.3. Telehealth Market Analysis 2018-2032 (US$ Billion)
6.4. MHealth Market Analysis 2018-2032 (US$ Billion)
6.5. Wearables Market Analysis 2018-2032 (US$ Billion)
6.6. mHealth Apps Market Analysis 2018-2032 (US$ Billion)
6.7. Services Market Analysis 2018-2032 (US$ Billion)
6.8. mHealth Services Market Analysis 2018-2032 (US$ Billion)
7. Global Digital Health Market Participants Analysis by Region, 2018-2032 (US$ Billion)
7.1. Healthcare Analytics Market Analysis 2018-2032 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Digital Health Systems Market Analysis 2018-2032 (US$ Billion)
7.3. HER Market Analysis 2018-2032 (US$ Billion)
7.4. E-Prescribing Systems Market Analysis 2018-2032 (US$ Billion)
8. Global Digital Health Market Component Analysis by Region, 2018-2032 (US$ Billion)
8.1. Software Market Analysis 2018-2032 (US$ Billion)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Hardware Market Analysis 2018-2032 (US$ Billion)
8.3. Services Market Analysis 2018-2032 (US$ Billion)
9. Digital Health Market Analysis by Geography, 2018-2032 (US$ Billion)
9.1. North America Digital Health Market Analysis 2018-2032 (US$ Billion)
9.1.1. U.S. Digital Health Market Analysis 2018-2032 (US$ Billion)
9.1.1.1. Technology
9.1.1.2. Participants
9.1.1.3. Component
9.1.2. Canada Digital Health Market Analysis 2018-2032 (US$ Billion)
9.1.3. Mexico Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2. Europe Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2.1. UK Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2.1.1. Technology
9.2.1.2. Participants
9.2.1.3. Component
9.2.2. France Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2.3. Germany Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2.4. Spain Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2.5. Russia Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2.6. Italy Digital Health Market Analysis 2018-2032 (US$ Billion)
9.2.7. Rest of Europe Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3. Asia Pacific Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.1. China Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.1.1. Technology
9.3.1.2. Participants
9.3.1.3. Component
9.3.2. Japan Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.3. South Korea Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.4. India Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.5. Australia Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.6. Southeast Asia Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.7. Taiwan Digital Health Market Analysis 2018-2032 (US$ Billion)
9.3.8. Rest of Asia Pacific Digital Health Market Analysis 2018-2032 (US$ Billion)
9.4. Latin America Digital Health Market Analysis 2018-2032 (US$ Billion)
9.4.1. Brazil Digital Health Market Analysis 2018-2032 (US$ Billion)
9.4.1.1. Technology
9.4.1.2. Participants
9.4.1.3. Component
9.4.2. Argentina Digital Health Market Analysis 2018-2032 (US$ Billion)
9.4.3. Rest of Latin America Digital Health Market Analysis 2018-2032 (US$ Billion)
9.5. Middle East Digital Health Market Analysis 2018-2032 (US$ Billion)
9.5.1. Israel Digital Health Market Analysis 2018-2032 (US$ Billion)
9.5.1.1. Technology
9.5.1.2. Participants
9.5.1.3. Component
9.5.2. Turkey Digital Health Market Analysis 2018-2032 (US$ Billion)
9.5.3. Saudi Arabia Digital Health Market Analysis 2018-2032 (US$ Billion)
9.5.4. UAE Digital Health Market Analysis 2018-2032 (US$ Billion)
9.5.5. Rest of Middle East Digital Health Market Analysis 2018-2032 (US$ Billion)
9.6. Africa Digital Health Market Analysis 2018-2032 (US$ Billion)
9.6.1. Egypt Digital Health Market Analysis 2018-2032 (US$ Billion)
9.6.1.1. Technology
9.6.1.2. Participants
9.6.1.3. Component
9.6.2. South Africa Digital Health Market Analysis 2018-2032 (US$ Billion)
9.6.3. Rest of Africa Digital Health Market Analysis 2018-2032 (US$ Billion)
10. Company Profiles
10.1. Cerner Corporation
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Strategic Initiatives
10.2. Allscripts
10.3. Apple Inc
10.4. Telefonica S.A.
10.5. McKesson Corporation
10.6. Epic Systems Corporation
10.7. QSI Management, LLC
10.8. AT&T
10.9. Vodafone Group
10.10. Airstrip Technologies
10.11. Google, Inc
10.12. Samsung Electronics Co. Ltd
10.13. HiMS
10.14. Orange
10.15. Qualcomm Technologies, Inc
10.16. Softserve
10.17. MQure
10.18. Computer Programs and Systems, Inc
10.19. Vocera Communications
10.20. IBM Corporation
10.21. CISCO Systems, Inc.
11. COVID-19 Impact Analysis
11.1. Global Digital Health Market, 2020 – 2032, Pre-V/S Post COVID 19
11.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Digital Health Market Size In 2022, By Scenario
12. Conclusion
Digital Health Market by Technology Outlook (Revenue, USD Million, 2017 – 2030)
- Tele-healthcare
- Tele-care
- Telehealth
- mHealth
- Wearables
- mHealth Apps
- Services
- mHealth Services
Digital Health Market by Participants Outlook (Revenue, USD Million, 2017 – 2030)
- Healthcare Analytics
- Digital Health Systems
- EHR
- E-Prescribing Systems
Digital Health Market by Component Outlook (Revenue, USD Million, 2017 – 2030)
- Software
- Hardware
- Services
