Digital Health Market Size, Share, Forecast & Trends by 2030
[Research Report] The digital health market is expected to grow from US$ 306,443.04 million in 2022 to US$ 1,909,524.56 million by 2030; the market is estimated to register a CAGR of 25.7% from 2022 to 2030.
Analyst’s Viewpoint:
The digital health market forecast can help stakeholders in this marketplace plan their growth strategies. Factors such as growth of the digital health market are increasing internet connectivity and smart device penetration, rising government regulatory support and policy initiatives, and technological development in healthcare IT infrastructure propel the digital health market growth. However, the safety concerns associated with data and privacy breaches hinder market growth.
Digital health entails using information and communication technology in the healthcare industry to manage chronic diseases remotely. The digital health market encompasses mobile health (mHealth), wearable devices, telehealth and telemedicine, health information technology (IT), and customized medicine. It provides various services to consumers, including early identification of life-threatening diseases and chronic illness management. Benefits offered by digital health will positively impact the digital health market size
Market Insights:
Rising Government Regulatory Support and Policy Initiatives to Drive Digital Health Market Growth
Regulatory support and government initiatives are crucial in shaping and advancing digital health. These efforts encompass various policies, regulations, funding mechanisms, and strategic initiatives to improve the adoption, integration, and effectiveness of digital health solutions. For instance, the US Agency for International Development (USAID) envisions utilizing digital technologies to enable individuals to access crucial information and services, leading to healthy and prosperous living. The agency has designed a dedicated policy guideline, "Vision for Action in Digital Health," which directs its investments in digital technologies supporting health programs in partner countries. Similarly, in 2022, the Government of India launched the Ayushman Bharat Digital Health Mission (ABDM) to create a digital health ecosystem. Similarly, in October 2021, the French government invested over US$ 650 million to enhance its national digital health infrastructure.
Moreover, the World Health Organization (WHO) defines Digital Health as "the application of Information and Communication Technologies (ICT) to Health" in its National Strategy for e-Health or Digital Health Toolkit. According to WHO, in 2020, more than 75% of eligible providers and 90% of eligible hospitals received funds for participating in the government program encouraging hospitals to allow patients to view, download, and transmit their health information. In May 2020, the Federal Health IT Strategic Plan 2020–2025 was proposed by the US federal government to mandate the use of EHR by healthcare providers.
Thus, the factors mentioned above will facilitate the digital health market share expansion
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Digital Health Market: Strategic Insights
Market Size Value in US$ 306,443.04 million in 2022 Market Size Value by US$ 1,909,524.56 million by 2030 Growth rate CAGR of 25.7% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Digital Health Market: Strategic Insights
| Market Size Value in | US$ 306,443.04 million in 2022 |
| Market Size Value by | US$ 1,909,524.56 million by 2030 |
| Growth rate | CAGR of 25.7% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Report Segmentation and Scope:
The “digital health market analysis” has been carried out by considering the following segments: offerings, technology, application, and end user.
The global digital health market is segmented based onoffering, technology, application, end user, and geography. The digital health market, by offering, is segmented into software, services, and hardware. The digital health market, by technology, is segmented into mHealth, tele-healthcare, digital health systems, and others. The digital health market, by application, is segmented into chronic disease management, behavioral health, health and fitness, and others. The digital health market, by end user, is segmented into hospitals and clinics, patients and consumers, and others. Hospitals and clinics held the largest digital health market share.
Geographically, the global digital health market report is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, the UK, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
Offering-Based Insights
The digital health market, based on offering, is segmented into software, services, and hardware. The services segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022–2030.
Technology-Based Insights
The digital health market, by technology, is segmented into mHealth, tele-healthcare, digital health systems, and others. The mHealth segment held the largest market share in 2022. The tele-healthcare segment is anticipated to grow fastest from 2022 to 2030.
Application–Based Insight
The digital health market, by application, is segmented into chronic disease management, behavioral health, health and fitness, and others. In 2022, the chronic disease management segment held the largest market share.
End User-Based Insights
Based on end users, the digital health market is segmented into hospitals and clinics, patients and consumers, and others. The hospitals and clinics segment held the largest market share in 2022.
Regional Analysis:
Based on geography, the global digital health market is segmented into Asia Pacific, Europe, the Middle East & Africa, North America, and South & Central America. In 2022, North America held the largest share of the global market. Asia Pacific is expected to register the highest CAGR from 2022 to 2030.
The digital health market in North America is segmented into the US, Canada, and Mexico. The transformation of digital healthcare and the increasing adoption of smart healthcare solutions, including various technologies such as mobile apps, smart wearables, and eHealth services such as EHR and telemedicine services, which allow remote patient monitoring, majorly drive the market. Other factors such as the introduction of advanced software technologies in healthcare, a higher number of hospitals, and the implementation of strategic government policies also aid in promoting the digital health market.
The US is the largest contributor to the digital health market in North America and the world. In September 2020, the Digital Health Center of Excellence was launched by the US Food and Drug Administration (FDA). This establishment is a significant move toward the agency's commitment to promoting the progress of digital health technology. This includes mobile health devices, software as a medical device (SaMD), wearables used as medical devices, and technologies utilized to study medical products. Additionally, the presence of leading market players in the country and their developments will likely favor the market's growth.
Digital Health Market Report Scope
Industry Developments and Future Opportunities:
- In October 2022, Medulance partnered with Reliance Jio to launch a 5G ambulance. The vehicle has smart devices and cameras and features two-way audio and video communication, HD-footage transmission, location tracking, and real-time streaming of patient health data to a distant doctor over the high-speed internet network.
- In June 2021, Amazon launched a digital health accelerator, AWS Healthcare Accelerator, to support startups in healthcare's virtual care and analytics sectors. The program prioritizes remote patient monitoring, data analytics, patient engagement, voice technology, and virtual care.
- In October 2021, Deloitte and Vodafone announced a strategic alliance to enable greater access to healthcare across Europe through the Vodafone Centre for Health with Deloitte. This collaboration aimed at speeding up the adoption of connected healthcare. This virtual center unites Vodafone's connected health solutions with Deloitte's healthcare consulting expertise to make healthcare more accessible for individuals, regardless of when and where they require it.
Cerner Corporation; Eclinicalworks; Allscripts Healthcare Solutions Inc.; Honeywell International Inc.; Cisco Systems; GE Healthcare; Koninklijke Philips N.V.; Siemens Healthineers AG; Qualcomm Technologies, Inc.; and Fitbit, Inc. are among the prominent companies profiled in the digital health market report. These leading players focus on expanding and diversifying their market presence and clientele, tapping business opportunities in the digital health market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering, Technology, Application, End User, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Digital health refers to the implementation of digital technologies in the healthcare industry, including software, hardware, and related services. Several technologies fall under the umbrella of digital health, such as mobile health (mHealth) apps, wearable devices, electronic health records (EHRs), electronic medical records (EMRs), telemedicine, telehealth, and personalized medicine, among others.
The digital health market majorly consists of the players, including Cerner Corporation, Eclinicalworks, Allscripts Healthcare Solutions Inc., Honeywell International Inc., Cisco Systems, General Electric Company, Koninklijke Philips N.V., Siemens Healthineers AG, Qualcomm Technologies, Inc., Fitbit, Inc.
Key factors driving the growth of the digital health market are increasing internet connectivity and smart device penetration, rising government regulatory support and policy initiatives, and technological development in healthcare IT infrastructure.
The digital health market, by end-user, is segmented into hospitals & clinics, patients & consumers, and others. In 2022, the hospitals & clinics segment held the largest market share.
The digital health market was valued at US$ 306,443.04 billion in 2022.
The digital health market, by technology, is segmented into antibacterial drugs, antiviral drugs, antifungal drugs, and others. The mHealth segment held a larger market share in 2022. However, telehealthcare segment is anticipated to register a higher CAGR during 2022-2030.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition, Assumptions and Limitations
1.3 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness Analysis
3. Research Methodology
4. Digital Health Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Digital Health Market - Key Market Dynamics
5.1 Key Market Drivers
5.2 Key Market Restraints
5.3 Key Market Opportunities
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints
6. Digital Health Market - Global Market Analysis
6.1 Digital Health - Global Market Overview
6.2 Digital Health - Global Market and Forecast to 2030
7. Digital Health Market – Revenue Analysis (USD Million) – By Offerings, 2020-2030
7.1 Overview
7.2 Software
7.3 Services
7.4 Hardware
8. Digital Health Market – Revenue Analysis (USD Million) – By Technology, 2020-2030
8.1 Overview
8.2 mHealth
8.2.1 Wearables
8.2.2 Apps
8.3 Telehealthcare
8.3.1 Telecare
8.3.2 Telehealth
8.4 Digital Health System
8.5 Others
9. Digital Health Market – Revenue Analysis (USD Million) – By Application, 2020-2030
9.1 Overview
9.2 Chronic Disease Management
9.3 Behavioral Health
9.4 Health and Fitness
9.5 Others
10. Digital Health Market – Revenue Analysis (USD Million) – By End User, 2020-2030
10.1 Overview
10.2 Hospitals and Clinics
10.3 Providers
10.4 Payers
10.5 Others
11. Digital Health Market - Revenue Analysis (USD Million), 2020-2030 – Geographical Analysis
11.1 North America
11.1.1 North America Digital Health Market Overview
11.1.2 North America Digital Health Market Revenue and Forecasts to 2030
11.1.3 North America Digital Health Market Revenue and Forecasts and Analysis - By Offerings
11.1.4 North America Digital Health Market Revenue and Forecasts and Analysis - By Technology
11.1.5 North America Digital Health Market Revenue and Forecasts and Analysis - By Application
11.1.6 North America Digital Health Market Revenue and Forecasts and Analysis - By End User
11.1.7 North America Digital Health Market Revenue and Forecasts and Analysis - By Countries
11.1.7.1 United States Digital Health Market
11.1.7.1.1 United States Digital Health Market, by Offerings
11.1.7.1.2 United States Digital Health Market, by Technology
11.1.7.1.3 United States Digital Health Market, by Application
11.1.7.1.4 United States Digital Health Market, by End User
11.1.7.2 Canada Digital Health Market
11.1.7.2.1 Canada Digital Health Market, by Offerings
11.1.7.2.2 Canada Digital Health Market, by Technology
11.1.7.2.3 Canada Digital Health Market, by Application
11.1.7.2.4 Canada Digital Health Market, by End User
11.1.7.3 Mexico Digital Health Market
11.1.7.3.1 Mexico Digital Health Market, by Offerings
11.1.7.3.2 Mexico Digital Health Market, by Technology
11.1.7.3.3 Mexico Digital Health Market, by Application
11.1.7.3.4 Mexico Digital Health Market, by End User
Note - Similar analysis would be provided for below mentioned regions/countries
11.2 Europe
11.2.1 Germany
11.2.2 France
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Rest of Europe
11.3 Asia-Pacific
11.3.1 Australia
11.3.2 China
11.3.3 India
11.3.4 Japan
11.3.5 South Korea
11.3.6 Rest of Asia-Pacific
11.4 Middle East and Africa
11.4.1 South Africa
11.4.2 Saudi Arabia
11.4.3 U.A.E
11.4.4 Rest of Middle East and Africa
11.5 South and Central America
11.5.1 Brazil
11.5.2 Argentina
11.5.3 Rest of South and Central America
12. Industry Landscape
12.1 Mergers and Acquisitions
12.2 Agreements, Collaborations, Joint Ventures
12.3 New Product Launches
12.4 Expansions and Other Strategic Developments
13. Competitive Landscape
13.1 Heat Map Analysis by Key Players
13.2 Company Positioning and Concentration
14. Digital Health Market - Key Company Profiles
14.1 Cerner Corporation
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
Note - Similar information would be provided for below list of companies
14.2 eClinicalWorks
14.3 Allscripts Healthcare Solutions
14.4 Honeywell International Inc
14.5 Cisco Systems
14.6 GE Healthcare
14.7 Koninklijke Philips NV
14.8 Siemens Healthineers Inc
14.9 Qualcomm Technologies Inc
14.10 Fitbit Inc
15. Appendix
15.1 Glossary
15.2 About The Insight Partners
15.3 Market Intelligence Cloud
The List of Companies - Digital Health Market
- Cerner Corporation
- Eclinicalworks
- Allscripts Healthcare Solutions Inc.
- Honeywell International Inc.
- Cisco Systems
- GE Healthcare
- Koninklijke Philips N.V.
- Siemens Healthineers AG
- Qualcomm Technologies, Inc.
- Fitbit, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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