Digital Health Market Overview
The digital health market refers to the use of digital technologies, such as mobile health apps, wearables, telemedicine, and electronic health records (EHRs), to improve healthcare delivery and patient outcomes.
The Digital Health Market size was valued USD 167 billion in 2021 and is expected to reach USD 1.3 trillion by 2030 at 23.7% CAGR during the forecast period 2022-2030.
The digital health market is also characterized by a range of sub-sectors, including digital therapeutics, health information exchange, medical wearables, and virtual reality/augmented reality (VR/AR) solutions. With ongoing innovation and investment in this field, the digital health market is poised for continued growth and evolution in the years ahead.
Digital Health Market Segmentation
MRFR’s report includes a thorough segmental analysis of the market based on component, technology and end user.
On the basis of component, the market has been segmented into services, software and hardware. On the basis of technology, the market has been segmented into health analytics, mHealth, and telehealthcare. The mHealth segment is further sub-segmented into apps and wearables. The apps segment is further sub-segmented into fitness apps and medical apps. The wearables segment is further sub-segmented into glucose monitor, sleep apnea monitors, BP monitor, neurological monitors, pulse monitor and others. The telehealthcare segment is further sub-segment into telehealth (video consultation and LTC monitoring) and telecare (remote medication management and activity monitoring). By end user, the market has been segmented into payers, pharmaceutical companies, providers, employers and others.
Regional Analysis
The Americas represent the brightest spot in the global digital healthcare market. This is mainly owing to presence of an advanced healthcare system in the U.S. Moreover, a growing patient pool and faster uptake of innovative healthcare solutions is having propelling the market forward in the region. Rising cases of obesity and diabetes in the region coupled with increased occurrence of chronic disorders continues to drive the need for effective healthcare solutions in the Americas. According to the data released by Centers for disease control and prevention (CDC) close to 9.4% of the US population was diabetic.
Europe is projected to remain the second largest market for digital healthcare during the forecast period. Many European countries boast world-class healthcare systems at the same time the per capita healthcare expenditure remains high in the region. The market is also benefiting from the high healthcare penetration in the region.
The market in Asia Pacific is poised to grow at an impressive pace over the next several years. Due to improving medical diagnostics, the patient population in the region is rising fast. The region present tremendous opportunities to the healthcare sector. These factors make APAC an attractive proposition for market players. In APAC, Japan currently represents the largest market for digital healthcare.
Top KeyPlayers
AT & T, Biotelemetry, Inc., Cisco Systems, Koninklijke Philips N.V., AllScripts Healthcare Solutions, Inc., Qualcomm, Athenahealth Inc., LifeWatch AG, Cerner Corporation, iHealth Lab, Inc., General Electric Company, McKesson Corporation and EClinicalWorks are the Digital Health Market Players.
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