Digital Health Market: Overview
The global digital health market size was worth USD 210 billion in 2022 and is estimated to grow to USD 800 billion by 2030, with a CAGR of approximately 18.20 percent over the forecast period.
The use of information and communication technology in the realm of healthcare for the remote management of chronic illnesses is called digital health. The digital health market includes telehealth and telemedicine, mobile health (mHealth), health information technology (I.T.), wearable technology, and personalized medicine. Increasing smartphone penetration, improved internet connectivity with the introduction of 4G/5G, advancement in healthcare I.T. infrastructure, rising need to reduce healthcare costs, rising prevalence of chronic diseases, and increased access to virtual care are some of the major factors driving the market growth. Furthermore, prominent businesses are focusing on introducing innovative applications to improve user experience. Teladoc Health, for example, teamed with Microsoft in July 2021 to connect its Solo platform with the Microsoft Teams environment to boost clinician and patient access across the virtual healthcare market. The increased usage of the internet and smart gadgets in healthcare is raising cybersecurity concerns. The number of incidences of hacking and tapping of personal information via linked and smart devices has significantly increased. Because of data security issues regarding healthcare information, governments, healthcare organizations, and experts are hesitant to implement digital health solutions on a bigger and national scale.
Digital Health Market Drivers:
The increasing penetration of smartphones and several smartphone applications connected to health and fitness is likely to be a key factor driving market expansion. Rapid investment in healthcare I.T. infrastructure, particularly in developing and developed countries, is expected to boost market growth. For instance, the Asian Infrastructure Project Bank (AIIB) awarded its first health infrastructure investment in April 2020 to recoup a USD 5 billion problem caused by COVID-19. This is expected to assist private and public entities affected by the pandemic.
Digital Health Market: Restraints
Security concerns, such as cyber-attacks and budgetary constraints to sustain digital health-related services, are the primary challenges limiting market growth. Nonetheless, the COVID-19 pandemic has fueled continued advancements in digital health, such as healthcare transformation through online symptom checkers, patient-facing tools, remote patient monitoring tools, telemedicine, and patient portals, among other things. As a result, such unique discoveries in the field of digital health are expected to provide attractive market prospects.
Digital Health Market: Segmentation
The global digital health market has been segmented into technology, participants, and components.
Based on technology, the market is divided into telehealth care, telecare, telehealth, mHealth, wearables, mHealth apps, and services. Among these, the telehealthcare segment led the market in 2022 and is expected to maintain its dominance throughout the forecast period. Telehealth services are in high demand due to the growing requirement to monitor health and fitness precisely, securely store healthcare information, and manage populations in real-time. Upgrading telehealth hardware and software components are aiding the expansion of services. The expanding tendency of software upgrades to incorporate broad healthcare applications also adds to market growth. The development of various platforms for illness monitoring, diagnosis, wellness, and prevention is also a crucial element driving the market. Furthermore, increased investments in digital infrastructure, particularly in developing nations, fuel market demand.
Based on components, the market is segmented into software, hardware, and services. In 2022, the service segment accounted for the most revenue share. The segment’s expansion can be attributable to rising demand for various services such as training, staffing, installation, and maintenance. The constant evolution of software solutions is increasing the demand for installation and training services. Key companies offer a diverse range of pre-and post-installation services, either as part of a package or separately, encouraging segmental growth. On the other hand, the software segment is expected to increase at the quickest CAGR during the forecast period. The increasing adoption of these software solutions by patients, hospitals, healthcare providers, and insurance payers is a major contributor to the segment’s growth.
Digital Health Market: Regional Landscape
North America was one of the first regions to implement smart healthcare solutions, including mobile apps, smart wearables, and eHealth services, such as EHR and telemedicine services, allowing remote access to information on critical and chronic healthcare issues, thus with the largest sales share in 2022, North America dominated the market. Factors such as rapid smartphone adoption, advancements in coverage networks, an increase in the prevalence of chronic diseases, an increase in the geriatric population, an increase in healthcare costs, an acute shortage of primary careers, and an increase in the need for improved prevention and management of chronic conditions are driving the industry’s growth.
Digital Health Market: Competitive Landscape
Some of the main competitors dominating the global digital health market include- 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.
Recent Developments
- April 2022: American Well has unveiled its cutting-edge Converge telehealth platform. This latest platform improves connectivity for healthcare stakeholders while addressing the growing need for medical help.
- February 2022: GlobalMed launched the Transportable Audiology Backpack to provide remote telehealth audiology evaluations for prolonged patient care.
COVID-19 Impact on Digital Health Market:
Governments worldwide have instituted strict social distancing standards and lockdowns in response to the spread of COVID-19. In this context, digital health technologies such as telemedicine offer a great opportunity for medical providers to treat patients while adhering to lockdown restrictions. This, in turn, is predicted to drive product acceptance, as well as positively impact market growth in the future years.
The global Digital Health Market is segmented as follows:
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
Digital Health Market by Region Outlook (Revenue, USD Million, 2017 – 2030)
- 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 2030 | USD 800 billion |
| Growth Rate | CAGR of 18.20 % from 2022 to 2030 |
| Base Year for Estimation | 2021 |
| Historical Data | 2017 – 2021 |
| Forecast Years | 2022 – 2030 |
| Quantitative Units | Revenue in USD million and CAGR from 2022 to 2030 |
| 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, 2017-2030 (US$ Billion)
2.3. Analysis by Participants, 2017-2030 (US$ Billion)
2.4. Analysis by Component, 2017-2030 (US$ Billion)
2.5. Market Analysis by Region, 2017-2030 (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 – 2021
4.1.1. Top 3 Players, 2019 – 2021
4.1.2. Top 6 Players, 2019 – 2021
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, 2017-2030 (US$ Billion)
5.1. Technology
5.1.1. Global Digital Health Market Share, by Technology, 2021 and 2030
5.1.2. Global Digital Health Market Revenue, by Technology, 2017-2030 (US$ Billion)
5.1.3. By Tele-healthcare Market Analysis 2017-2030 (US$ Billion)
5.1.4. By Tele-care Market Analysis 2017-2030 (US$ Billion)
5.1.5. By Telehealth Market Analysis 2017-2030 (US$ Billion)
5.1.6. By MHealth Market Analysis 2017-2030 (US$ Billion)
5.1.7. By Wearables Market Analysis 2017-2030 (US$ Billion)
5.1.8. By mHealth Apps Market Analysis 2017-2030 (US$ Billion)
5.1.9. By Services Market Analysis 2017-2030 (US$ Billion)
5.1.10. By mHealth Services Market Analysis 2017-2030 (US$ Billion)
5.2. Participants
5.2.1. Market Share, by Participants, 2021 and 2030
5.2.2. Market Revenue, by Participants, 2017-2030 (US$ Billion)
5.2.3. By Software Market Analysis 2017-2030 (US$ Billion)
5.2.4. By Hardware Market Analysis 2017-2030 (US$ Billion)
5.2.5. By Services Market Analysis 2017-2030 (US$ Billion)
5.3. Component
5.3.1. Market Share, by Component, 2021 and 2030
5.3.2. Market Revenue, by Component, 2017-2030 (US$ Billion)
5.3.3. By Software Market Analysis 2017-2030 (US$ Billion)
5.3.4. By Hardware Market Analysis 2017-2030 (US$ Billion)
5.3.5. By Services Market Analysis 2017-2030 (US$ Billion)
6. Global Digital Health Market Technology Analysis by Region, 2017-2030 (US$ Billion)
6.1. Tele-healthcare Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
6.3. Telehealth Market Analysis 2017-2030 (US$ Billion)
6.4. MHealth Market Analysis 2017-2030 (US$ Billion)
6.5. Wearables Market Analysis 2017-2030 (US$ Billion)
6.6. mHealth Apps Market Analysis 2017-2030 (US$ Billion)
6.7. Services Market Analysis 2017-2030 (US$ Billion)
6.8. mHealth Services Market Analysis 2017-2030 (US$ Billion)
7. Global Digital Health Market Participants Analysis by Region, 2017-2030 (US$ Billion)
7.1. Healthcare Analytics Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
7.3. HER Market Analysis 2017-2030 (US$ Billion)
7.4. E-Prescribing Systems Market Analysis 2017-2030 (US$ Billion)
8. Global Digital Health Market Component Analysis by Region, 2017-2030 (US$ Billion)
8.1. Software Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
8.3. Services Market Analysis 2017-2030 (US$ Billion)
9. Digital Health Market Analysis by Geography, 2017-2030 (US$ Billion)
9.1. North America Digital Health Market Analysis 2017-2030 (US$ Billion)
9.1.1. U.S. Digital Health Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
9.1.3. Mexico Digital Health Market Analysis 2017-2030 (US$ Billion)
9.2. Europe Digital Health Market Analysis 2017-2030 (US$ Billion)
9.2.1. UK Digital Health Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
9.2.3. Germany Digital Health Market Analysis 2017-2030 (US$ Billion)
9.2.4. Spain Digital Health Market Analysis 2017-2030 (US$ Billion)
9.2.5. Russia Digital Health Market Analysis 2017-2030 (US$ Billion)
9.2.6. Italy Digital Health Market Analysis 2017-2030 (US$ Billion)
9.2.7. Rest of Europe Digital Health Market Analysis 2017-2030 (US$ Billion)
9.3. Asia Pacific Digital Health Market Analysis 2017-2030 (US$ Billion)
9.3.1. China Digital Health Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
9.3.3. South Korea Digital Health Market Analysis 2017-2030 (US$ Billion)
9.3.4. India Digital Health Market Analysis 2017-2030 (US$ Billion)
9.3.5. Australia Digital Health Market Analysis 2017-2030 (US$ Billion)
9.3.6. Southeast Asia Digital Health Market Analysis 2017-2030 (US$ Billion)
9.3.7. Taiwan Digital Health Market Analysis 2017-2030 (US$ Billion)
9.3.8. Rest of Asia Pacific Digital Health Market Analysis 2017-2030 (US$ Billion)
9.4. Latin America Digital Health Market Analysis 2017-2030 (US$ Billion)
9.4.1. Brazil Digital Health Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
9.4.3. Rest of Latin America Digital Health Market Analysis 2017-2030 (US$ Billion)
9.5. Middle East Digital Health Market Analysis 2017-2030 (US$ Billion)
9.5.1. Israel Digital Health Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
9.5.3. Saudi Arabia Digital Health Market Analysis 2017-2030 (US$ Billion)
9.5.4. UAE Digital Health Market Analysis 2017-2030 (US$ Billion)
9.5.5. Rest of Middle East Digital Health Market Analysis 2017-2030 (US$ Billion)
9.6. Africa Digital Health Market Analysis 2017-2030 (US$ Billion)
9.6.1. Egypt Digital Health Market Analysis 2017-2030 (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 2017-2030 (US$ Billion)
9.6.3. Rest of Africa Digital Health Market Analysis 2017-2030 (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 – 2030, 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
