Digital Health Market is valued at USD 178.14 Billion in 2021 and expected to reach USD 560.75 Billion by 2028 with the CAGR of 17.8% over the forecast period.
Global Digital Health Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing adoption of technology and launch of products, rising demand for mobile health apps and growing government support for digital transformation of healthcare are major factors anticipated to drive the growth of the Global Digital Health Market.
The connection between healthcare and technology is digital health. Diseases can be prevented with the help of at lower healthcare costs, while helping patients monitor and manage chronic conditions. Personalized medicines, mobile health (mHealth) apps, electronic medical records (EMRs), electronic health records (EHRs) digital health includes mobile health (mHealth) apps, electronic wearable devices as well as telehealth and telemedicine are included in digital health. Digital healthcare tools give increased efficiency and improved medical outcomes. It also offer healthcare providers a wide view of patient health by significantly increasing access to health data and giving patients greater control over their health.
The Covid-19 pandemic has increased the demand for personal health monitoring via wearables. Digital technology rapidly positioned to meet the various challenges of the pandemic. The demand of digital healthcare technologies such as wearable devices for heart rate variability, pulse oximeters, electrocardiography and continuous glucose monitoring is increased. The adoption of digital health solutions such as telehealth, artificial intelligence decision support for triaging and clinical care, and home monitoring was used for covid-19 patients and the digital transformation in healthcare was fueled during pandemic.
The global digital health market is segmented into on the basis of technology, component, end user and region & country level. On the basis of technology, the global digital health market is telehealth technology, wearable technology, mobile health technology and others. On the basis of component, the global digital health market is segmented into component hardware, software and services. On the basis of end users, the global digital health market is segmented into healthcare providers, payers, healthcare consumers and others.
The regions covered in global digital health market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of Global Digital Health Market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
Some of the key players for global digital health market are Cerner Corporation Computer Programs and Systems, Inc., Allscripts, Telefónica S.A., Mckesson Corporation, QSI Management, LLC, AT&T, Vodafone Group, AirStrip Technologies, Google, Inc., Epic Systems Corporation, Samsung Electronics Co., Ltd. IBM Corporation and others.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 178.14 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 560.75 Billion|
|Tables, Charts & Figures:||175|
|Digital Health Companies||Cerner Corporation Computer Programs and Systems, Inc., Allscripts, Telefónica S.A., Mckesson Corporation, QSI Management, LLC, AT&T, Vodafone Group, AirStrip Technologies, Google, Inc., Epic Systems Corporation, Samsung Electronics Co., Ltd. IBM Corporation and others.|
|Segments Covered||By Technology, By Component, By End Users|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
Blessing Health System Partners with Biofourmis to Launch Home Hospital Services
30th March, 2022; A Boston-based global leader in virtual care and digital therapeutics Biofourmis, announced that it was designated by Blessing Health System in Quincy, Ill., as the technology solutions partner for its newest program, for delivering acute-level hospital care inside patients’ homes.
GE Healthcare Launched Comprehensive Digital Health Platform
16th March 2022; At HIMSS22, GE Healthcare has announced its intention to introduce the Edison Digital Health Platform, a vendor-agnostic hosting and data aggregation platform with an integrated artificial intelligence engine. To effectively deploy the clinical, workflow, analytics and AI tools that would support the improvement of care delivery the platform was developed to enable hospitals and health systems.
Increasing Adoption of Technology and Launch of Products, Rising Demand for Mobile Health Apps and Growing Government Support for Digital Transformation of Healthcare are Major Factors Anticipated to Drive the Growth of the Global Digital Health Market for the Forecast Period.
One of the major factors driving the growth of the global digital health market is increasing adoption of technology. The growing use of technology and widespread adoption during Covid-19 pandemic has made the importance of virtual treatment/consultations and other medical services. The shift to online platforms for checks and follow ups due to the risk of catching virus. The use of digital technologies is currently being used to create a speedier, more efficient, and cost-effective healthcare practice which is driving the market growth. For instance, on 16th March 2022, GE Healthcare launched comprehensive digital health platform with an integrated artificial intelligence engine. In addition, rising demand for mobile health apps mobile apps is also boosting the market growth. As the people manage their own health and wellness, promote healthy living, and gain access to useful information when and where they need it. For example; in 2017, 325,000 health care applications were available on smartphones, which connects to an expected 3.7 billion mobile health application downloads that year by smartphone users worldwide as per to industry estimates External Link Disclaimer.
Moreover, growing government support for digital transformation of healthcare is also fueling market growth. For instance; an emergency declaration under the Stafford Act and the National Emergencies Act. Consistent announced by President Trump CMS is expanded Medicare’s telehealth benefits under the 1135 waiver authority and the Coronavirus Preparedness and Response Supplemental Appropriations Act.
However, security concerns such as cyber-attacks may hinder the market growth. In spite of that, developments due to Covid-19 pandemic may provide more opportunities for the further growth of the global digital health market.
North America is Expected to Dominate the Global Digital Health Market
The North America expected to dominate the digital healthcare market due to increasing number of geriatric populations, rising prevalence of chronic diseases and advancements in healthcare information technology. For instance; as per rural health information hub there are more than 46 million older adults age 65 and older living in the U.S.; by 2050, that number is expected to grow to nearly 90 million. Thus, increasing geriatric population is expected to boost the market growth due to need of digital healthcare. In addition, rising prevalence of chronic diseases is also adding growth to the market. For example; as per Centers for Diseases Control and Prevention six in 10 adults in U.S have chronic diseases. Moreover, advancements in healthcare information technology are boosting the market growth. For instance; in April 2021 American Telemedicine Association (ATA) partnered with UK-based digital health and launched a new resource for evaluating mHeath app.
Asia Pacific is expected to be second fastest growing region for the global digital health market due increasing adoption of digital healthcare infrastructure, rising number of internet users and growing healthcare industry in emerging countries. Increasing adoption of digital healthcare due to Covid-19 is also driving the market growth of digital health in Asia Pacific region. In addition, rising number of internet users fueling the market growth. For instance, as per findly.in there was a 24% increase in the internet user base from 2015-2020 and the number of internet users in India stood at approximately 687.6 million in 2020. Moreover, growing healthcare industry in emerging countries augmenting the market growth.
By End Users
Middle East and Africa