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Digital Health Market By Technology(Tele-healthcare, Healthcare Analytics, mHealth, Digital Health Systems), By Component (Software, Services and Hardware), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2031
  • Report ID 137855
  • Published Date 21-Sept
  • Delivery Format PDF/PPT/Word
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  • Report Details

    Digital health, a new field that uses technology for better health and well-being, is a rapidly growing area. Digital health aims to empower patients, their families and communities to manage their own health. Digital health encompasses a variety of applications, including fitness tracking apps and telehealth services. Digital health has the potential for transforming the way we view and deliver healthcare. Digital health has many benefits, including better access and engagement in self-care as well as improved outcomes.

    The global Digital Health Market worth USD 171.32 Billion in 2021 is expected to grow at 21% CAGR from 2022-2032.

    Market growth is driven by increasing smartphone penetration, improved internet connectivity, advanced healthcare IT infrastructure, rising healthcare expenditure, rising prevalence and chronic diseases, increased demand for remote patient monitoring services, as well as increasing accessibility to virtual care.

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    The growth of the global digital market for health is primarily driven by the demand for remote monitoring services, rise in funding from government and private organizations for mHealth startups; rise of chronic diseases; and advancements in technology in the healthcare industry. According to data from the Pew Research Center in April 2021 it was found that 97% and 85% respectively of smartphone owners in the U.S. were adults. The forecast period also sees a rise in the number of geriatrics, who are more susceptible to chronic diseases. This will fuel the growth of the digital health market.

    Global governments have implemented stringent social distancing rules and lockdowns in response to the COVID-19 outbreak. The lockdowns have made it impossible for digital health technology providers, such as telehealth, to provide care services for patients. This is expected to increase product adoption, which will in turn help the market grow positively over the next years.

    Global Digital Health Market drivers: Rising demand for mobile-health apps

    Patients can use mobile apps to improve their treatment in a number of ways. This includes diagnosing and treating illnesses, as well as using wearables and ingestible sensing devices. Healthcare app development has become both an expectation and a luxury.

    Market Restraints – Security concerns about patient data could slow down market demand

    Security concerns about patient data could limit the industry’s value. Stringent data security is required for digital health solutions like electronic health records, prescriptions, and medical apps. Data security breaches can lead to huge data loss, including medical records.

    Recent industry developments

    Philips announced in February 2021 that it had acquired BioTelemetry Inc., a top U.S. provider of remote cardiac monitoring and diagnostics. Phillips will be able to expand its customer base and business portfolio with this acquisition strategy.

    AT&T announced in March 2020 a partnership with LifedMedID, Elo Self-Service Solutions and Elo Self-Service Solutions. This partnership was intended to simplify patient registrations and provide check-in-solution. This alliance expands AT&T’s digital healthcare solutions from edge to edge, strengthening its market presence.

    Key Market Segments

    By Technology
    Tele-healthcare
    Healthcare Analytics
    mHealth
    Digital Health Systems

    By Component
    Software
    Services
    Hardware

    By Application

    Clinical decision support
    telehealth
    mHealth
    fitness applications & platforms
    healthcare IT systems
    and wearables & activity trackers

    МаrkĐ”t ĐšĐ”Ńƒ Đ lауДrѕ:

    Cerner Corporation
    Mckesson Corporation
    Qualcomm Technologies Inc.
    Cisco Systems Inc.
    Apple Inc.
    Google Inc.
    IBM Corporation
    Samsung Electronics Co. Ltd.
    Other Key Players

    Regional Segment Analysis

    North America (U.S., Canada, Mexico)
    Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
    Asia-Pacific (China, Japan, India, Rest of APAC)
    South America (Brazil and the Rest of South America)
    The Middle East and Africa (UAE, South Africa, Rest of MEA)

    FREQUENTLY ASKED QUESTIONS?

    Why is digital health important?

    What is digital health and why does it matter?

    What is an example of digital health?

    Is digital health the same as telehealth?

    What is the future of digital health?

    What are the five trends in health care?

    How big is the digital health market?

    What is the digital health market growth?

    Does the digital health company is profiled in the report?

    Which are the top companies that hold the market share in the digital health Market?

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    Research Insights & Deliverables
    • Development and Future ForecastDevelopment and Future Forecast
    • Competitive benchmarkingCompetitive benchmarking
    • Company Revenue StatisticsCompany Revenue Statistics
    • Rising Regional OpportunitiesRising Regional Opportunities
    • Technology Trends and DynamicsTechnology Trends and Dynamics
    • Technology AssessmentTechnology Assessment
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    Research Insights & Deliverables
    • Development and Future ForecastDevelopment and Future Forecast
    • Competitive benchmarkingCompetitive benchmarking
    • Company Revenue StatisticsCompany Revenue Statistics
    • Rising Regional OpportunitiesRising Regional Opportunities
    • Technology Trends and DynamicsTechnology Trends and Dynamics
    • Technology AssessmentTechnology Assessment
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    Research Insights & Deliverables
    • Development and Future ForecastDevelopment and Future Forecast
    • Competitive benchmarkingCompetitive benchmarking
    • Company Revenue StatisticsCompany Revenue Statistics
    • Rising Regional OpportunitiesRising Regional Opportunities
    • Technology Trends and DynamicsTechnology Trends and Dynamics
    • Technology AssessmentTechnology Assessment