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Digital Health Market

Market Insights on Digital Health covering sales outlook, demand forecast & up-to-date key trends

Digital Health Market By Platform (m-Health, Telehealth, Wireless health, Electronic media record, and Others), Application (Healthcare amenities, e-prescription, Home care services and Remote monitoring, & Consultancy application) & Region - Forecast to 2022-2032

Digital Health Market Overview

The digital health market is likely to grow strongly at a CAGR of 18% during the forecast period 2022-2032.

“The growing demand for m-health (mobile health), e-health or digital health with innovative mobile apps and solutions is expected to propel the digital health market forward.”

With the growing reliance of end-users on digital mental health services, it is quickly becoming a game-changing technology in the digital healthcare services as these platforms are increasingly being used to conduct remote monitoring for chronic diseases and to gain access to electronic medical and personal health records via broadband and mobile devices.

This is one of the major drivers of the digital health market.

The COVID-19 pandemic has caused havoc on nearly every major industry in the world, and the digital treatment/health sector has reaped the benefits.

Several governments in both developed and developing economies have altered regulations governing the use of digital health systems and technologies.

Attributes

Details

Digital Health Market Size in 2020

US$ 142 Bn

Digital Health Market CAGR during 2022-2032

18%

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How is the Digital Health Market Segmented?

“The wireless health platform segment currently dominates the digital health market and is expected to continue to do so in the future.”

On the basis of platform, the digital health market can be segmented as m-Health, telehealth, wireless health, digital therapy apps, electronic media record and other.

Moreover, electronic medical record segment is projected to occupy the second largest share attributing to the awareness of digital mental health care. However, the m-Health segment is likely to exhibit the fastest CAGR over the forecast period.

The digital health market can be segmented based on application, which includes healthcare amenities, e-prescription, home care services, and remote monitoring & consultancy application.

The digital health market is further segmented based on end-user including hospital & nursing home, physician, healthcare worker and individual. Of all the end-user segments, hospital & nursing home is anticipated to be the largest end-user segment over the forecast period.

Which Regions Hold a Sway in the Digital Health Market?

“North America accounts for a significant share of the digital health market owing to an increase in chronic disease prevalence, smartphone adoption, and advancements in digital health network in the region.”

The digital health market is expected to witness a healthy CAGR due to growing awareness concerning digital health community.

Regionally, the digital health market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan and Middle East & Africa (MEA).  

Globally, among all the regions, North America is expected to account for the highest share followed by Western Europe over the projected period. US is expected to be the dominant market for digital health in the North America region.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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What are the Factors Contributing to the Digital Health Market Growth?

“According to recent studies, more than 5 billion people worldwide own a mobile device, with smartphones accounting for more than half of them. This has resulted in a massive increase in the number of mobile applications for digital healthcare needs, fuelling the digital health market's progression.”

Rising awareness concerning health, supplemented by growing adoption of smart-phone and tablet act as digital health accelerators.

Moreover, growing penetration of 3G and 4G network and increasing application area is supporting the growth of global digital health market growth.

However, stringent regulatory norms in the United States and threat associated with data privacy and security are restricting the growth of global digital health market.

How is the Competition Landscape in the Digital Healthcare Market?

The key players operating in the global digital health market includes AT&T Inc., Apple Inc., AirStrip Technologies LP, Alcatel-Lucent Corporation, Cerner Corporation, Symantec Corporation, Aruba Networks, Inc., Cisco Systems, Inc., Qualcomm, Inc., Siemens Healthcare, and Philips Healthcare.

Digital healthcare companies in the market follow the strategy of introducing innovative and cost-effective solution to buy out competition.

In addition, strategic partnership, collaborations and joint ventures are the other major strategies followed by the digital health solution provider to outperform competitors.

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Key Segments

Attributes

Details

Forecast Period

2022-2032

Historical Data Available For

2015-2020

Market Analysis

US$ Bn for Value

By Platform

  • m-Health
  • Telehealth
  • Wireless health
  • Electronic media record
  • Other

By Application

  • Healthcare amenities
  • e-prescription
  • Home care services
  • Remote monitoring
  • Consultancy application

By End Use

  • Hospital & Nursing home
  • Physician
  • Healthcare worker
  • Individual

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Japan
  • Middle East & Africa

Key Players

  • AT&T Inc.
  • Apple Inc.
  • AirStrip Technologies LP
  • Alcatel-Lucent Corporation
  •  Cerner Corporation
  • Symantec Corporation
  • Aruba Networks, Inc.
  • Cisco Systems, Inc.
  • Qualcomm, Inc.
  • Siemens Healthcare
  • Philips Healthcare

Frequently Asked Questions

In 2020, the software segment held 33.5% of the share in digital health market.

The digital health market is estimated to expand at a CAGR of 18% during the forecast period

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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