The global Digital Health Market size is anticipated to reach USD 946.0 billion by 2030 and it is
projected to grow at a CAGR of 21.9% from 2024 to 2030, according to a new
report by Grand View Research, Inc. The market growth driven by various
factors. These include the proliferation of smartphones, advancements in
internet connectivity, the development of IT infrastructure, increasing
healthcare IT expenditures, overburdened healthcare facilities, a growing
shortage of healthcare providers, rising demand for remote patient monitoring
services, escalating medical costs, improved accessibility of virtual care
services, and the increasing prevalence of chronic diseases. This growth is
further propelled by the ongoing trend of digitalization in healthcare. This
trend finds support in expanding public-private partnerships, emerging startups
in the healthcare sector, and favorable initiatives undertaken by governments
to promote digital health solutions.
Digital health encompasses diverse technologies such
as telehealth services, health information technology, and mobile
health (mHealth) to enhance communication within
healthcare systems, fostering improved interactions between doctors and
patients. The relevance of digital health technology has grown significantly,
especially during the COVID-19 pandemic. These contemporary solutions enhance
the patient-doctor relationship and extend preventive disease strategies.
Furthermore, they contribute to a shift in healthcare towards value-based
treatment, amplifying the accessibility of health information for both patients
and healthcare providers.
Furthermore, integrating wearable devices into
healthcare reshapes how individuals manage their health. Wearables like fitness
trackers and smartwatches enable continuous monitoring of vital signs, physical
activity, and other health metrics. This real-time data empowers individuals to
take a proactive role in their well-being and allows healthcare providers to
offer personalized preventive care. Companies such as Apple and Fitbit
exemplify the success of wearables in the digital health market, emphasizing
the fusion of technology and health monitoring.
Many nations have adopted telemedicine, remote monitoring platforms, and telehealth services to enable physical
interactions among physicians and the patient population. Therefore, digital
health industry experienced a boost in terms of revenue in 2020-2021 and is
expected to maintain an upward trajectory in the projected technology life
cycle. For instance, MyDoc, a telehealth platform headquartered in Singapore,
witnessed a 160% growth in daily active users in 2020. Government initiatives
to promote global digitalization in the healthcare sector are playing a
significant role in propelling the market’s growth. For instance, in the 2022
budget session, the Government of India launched a digital health ecosystem as
part of the Ayushman Bharat Digital Health Mission (ABDM). In October 2021, the
French government revealed plans to invest over USD 650 million to enhance its
digital health infrastructure nationally.
The digital health industry is a dynamic space where
both established entities and startups compete for prominence, driven by the
prospect of improving healthcare accessibility, affordability, and outcomes.
Tech and healthcare giants are making ventures into this industry, coexisting
with emerging local startups that address specific regional needs, attracting
global investment. The growth of AI-powered solutions for patient monitoring
and personalized care is evident, with the increasing involvement of healthcare
professionals in their development and adoption. Moreover, various players are
actively adopting strategies such as mergers, acquisitions, collaboration,
partnerships, and product launches to maintain a competitive edge. For
instance, in July 2023, Epic Systems Corporation collaborated with Nuance
Communications, Inc., a Microsoft Company, to develop the Nuance Dragon Ambient
eXperience (DAX) Express solution, which expands access to care for patients
and enhances healthcare outcomes. Additionally, in December 2022, Greenway
Health, LLC. Launched the Greenway Engagement Model, a client engagement
program, to strengthen the healthcare technology journey of its clients.
List of Key Players in Digital Health Market
- Telefónica S.A.
- Epic Systems Corporation
- QSI Management, LLC
- AT&T
- AirStrip Technologies
- Google, Inc.
- Hims & Hers Health, Inc.
- Orange
- Softserve
- Computer Programs and Systems, Inc.
- Vocera Communications
- IBM Corporation
- CISCO Systems, Inc.
- Apple Inc.
- Oracle Cerner
- Veradigm
- Mckesson Corporation
- Hims & Hers Health, Inc.
- Vodafone Group
- Qualcomm Technologies, Inc.
- Samsung Electronics Co., Ltd.
Request a free sample copy or view report summary: Digital Health Market Report
Digital Health Market Report Highlights
- Based on component, the services segment accounted for largest
revenue share in 2023, owing to the growing demand for services, such as
installation, staffing, training, maintenance, and other services
- Based on technology, the tele-healthcare segment led the market with
the largest revenue share of 43.2% in 2023, due to increasing preference
for remote patient monitoring services and shortage of healthcare
professionals
- Based on the application, the diabetes segment led the market with
the largest share of 24.3% in 2023 and is expected to register the fastest
CAGR over the forecast period. The obesity segment is the second largest
in applications of the digital health market
- Based on the end-use, the patient segment held the largest market
share of 34.1% in 2023 and is expected to witness the fastest CAGR during
the forecast period
- North America dominated the market with a revenue share of 38.2% in
2023 due to the rapidly developing healthcare IT infrastructure, emergence
of startups, growing funding options, and improving technological literacy
Related Press Release@ Digital Health Industry Analysis
Digital Health Market Segmentation
Grand View Research has segmented the global digital
health market based on technology, component, application, end-use, and region:
Digital Health Technology Outlook (Revenue, USD Million,
2018 - 2030)
- Tele-healthcare
- Tele-care
- Activity Monitoring
- Remote Medication Management
- Tele-health
- LTC Monitoring
- Video Consultation
- mHealth
- Wearables & Connected Medical Devices
- Vital Sign Monitoring Devices
- Heart Rate Monitors
- Activity Monitors
- Electrocardiographs
- Pulse Oximeters
- Spirometers
- Blood Pressure Monitors
- Others
- Sleep Monitoring Devices
- Sleep trackers
- Wrist Actigraphs
- Polysomnographs
- Others
- Electrocardiographs Fetal & Obstetric Devices
- Neuromonitoring Devices
- Electroencephalographs
- Electromyographs
- Others
- mHealth Apps
- Medical Apps
- Women's Health
- Fitness & Nutrition
- Menstrual Health
- Pregnancy Tracking & Postpartum Care
- Menopause
- Disease Management
- Others
- Chronic Disease Management Apps
- Diabetes Management Apps
- Blood Pressure & ECG Monitoring Apps
- Mental Health Management Apps
- Cancer Management Apps
- Obesity Management Apps
- Other Chronic Disease Management Apps
- Personal Health Record Apps
- Medication Management Apps
- Diagnostic Apps
- Remote Monitoring Apps
- Others (Pill Reminder, Medical Reference,
Professional Networking, Healthcare Education)
- Fitness Apps
- Services
- Monitoring Services
- Independent Aging Solutions
- Chronic Disease Management & Post-Acute
Care Services
- Diagnosis Services
- Healthcare Systems Strengthening Services
- Others
- Digital Health Systems
- EHR
- E-prescribing Systems
- Healthcare Analytics
Digital Health Component Outlook (Revenue, USD Million,
2018 - 2030)
- Software
- Hardware
- Services
Digital Health Application Outlook (Revenue, USD Million,
2018 - 2030)
- Obesity
- Diabetes
- Cardiovascular
- Respiratory Diseases
- Others
Digital Health End-use Outlook (Revenue, USD Million,
2018 - 2030)
- Patients
- Providers
- Payers
- Others
Digital Health Regional Outlook (Revenue, USD Million,
2018 - 2030)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Singapore
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- Saudi Arabia
- UAE
- Kuwait
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View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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