Digital Health Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2030

The report on the global digital health market provides qualitative and quantitative analysis for the period from 2021-2030. The global digital health market was valued at USD 209.63 billion in 2022 and is expected to reach USD 770.26 billion in 2030, with a CAGR of 15.30% during the forecast period 2023-2030.The study on digital health market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2021-2030.

Digital health is the use of digital technologies for healthcare purposes. Owing to an unhealthy lifestyle, there are rising cases of chronic diseases. for instance, According to WHO cardiovascular diseases account for most NCDs deaths, or 17.9 million people annually, followed by cancers (9.3 million), chronic respiratory diseases (4.1 million), and diabetes. Digital health has the potential to prevent chronic disease and lower healthcare costs while helping patients monitor and manage chronic conditions. Furthermore, healthcare providers also benefit from big data to analyze and monitor the patient's overall health. Hence, increasing the occurrence of cardiovascular disorders across the world is fueling the growth of the digital health market. Additionally, there is a rise in the penetration of smartphones, internet devices, and cloud-based devices. These technologies enable easier access to healthcare information, telemedicine, and health monitoring, making healthcare more accessible and convenient. Patients can engage with healthcare providers remotely and access health-related apps and services, resulting in improved healthcare delivery and outcomes. This trend is particularly significant as it expands the reach of digital health solutions to a broader population, fostering market growth and innovation.

The mobile device segment commands the largest market share in the digital health market primarily due to its widespread adoption and versatility in delivering healthcare solutions. Smartphones and tablets have evolved into indispensable tools for health and well-being management. This transformation is further fueled by lifestyle-related diseases, increased disposable incomes, and heightened health-consciousness. These mobile devices provide a wide array of applications and services, encompassing health tracking, telemedicine, medication management, and health record accessibility, empowering individuals to conveniently monitor and enhance their overall health. The proliferation of mobile health apps, wearable gadgets, and connected sensors has significantly facilitated individuals' active engagement in their healthcare treatments. Considering the growing emphasis on preventive healthcare and the management of chronic conditions, mobile devices have become imperative for delivering tailored healthcare and improving patient outcomes. Consequently, the mobile device sector is poised to maintain its significance, propelling innovation, and growth within the digital health market.

The North America region is poised to hold the largest market share in the global digital health market due to several key factors. In North America, the prevalence of chronic diseases like diabetes and heart conditions is on the upswing, primarily due to a significant portion of the population leading unhealthy lifestyles. For instance, data from the CDC reveals that six out of ten Americans grapple with at least one chronic ailment, encompassing conditions such as heart disease, cancer, and diabetes. This surge in chronic diseases has led to an increased need for remote monitoring and the adoption of digital health solutions. These digital health solutions play a crucial role in not only preventing chronic diseases but also in curtailing healthcare costs. Additionally, the regulatory framework in the United States supports the growth of digital health technologies, providing a conducive environment for development and implementation. In late 2020, the U.S. Department of Health and Human Services (HHS) proposed changes to HIPAA that may hinder patient access to personal health data and impede the healthcare industry's transition to value-based care, centered on quality and value. Furthermore, the region boasts a well-developed healthcare infrastructure and advanced technological capabilities, creating an ideal environment for the integration of digital health solutions.

Report Findings

1) Drivers

• The digital health market is experiencing growth due to the rising prevalence of cardiovascular disorders caused by unhealthy lifestyles worldwide.
• The rise in penetration of smartphones and the internet amongst the population is driving the digital health market.

2) Restraints

• Data security concerns in healthcare hinder digital health solution adoption, potentially slowing market growth.

3) Opportunities

• The integration of cutting-edge technologies like blockchain to enhance data security presents a growth opportunity for the digital market.

Research Methodology

A) Primary Research

The primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include
1. Key Opinion Leaders
2. Internal and External subject matter experts
3. Professionals and participants from the industry

The primary research respondents typically include

1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. Each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies

Segment Covered

The global digital health market is segmented on the basis of service, and end user.

The Global Digital Health Market by Service

• Mobile Device
• Cloud Based Solution
• Big Data Analytics
• Healthcare Mobility

The Global Digital Health Market by End User

• Clinics
• Government Hospitals
• Specialty Hospital
• General Hospital

Company Profiles

The companies covered in the report include

• Cisco Systems, Inc.
• Qualcomm Technologies, Inc.
• Merative
• Epic Systems Corporation
• Siemens Healthcare GmbH
• GE HealthCare
• Koninklijke Philips N.V.
• IBM Corporation
• Allscripts/ Veradigm
• Oracle/ Cerner

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the digital health market.
2. Complete coverage of all the segments in the digital health market to analyze the trends, developments in the global market and forecast of market size up to 2030.
3. Comprehensive analysis of the companies operating in the global digital health market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.

This product will be delivered within 1-3 business days.