Digital Health Market is Expected to Reach USD 628.1 billion in 2028, Growing at a CAGR of 15.1% during 2021-2028 | Size, Growth & Report Analysis

Digital Health Market

The Digital Health Market was estimated at around USD 203.9 billion in 2020 and is expected to reach USD 628.1 billion by 2028, exhibiting a CAGR of 15.1% over the forecast period (2021-2028).

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The factors driving the growth of Digital Health Market includes increasing geriatric population around the world, rising prevalence of chronic diseases such as diabetes, and cardiovascular diseases, growing penetration of smartphone, laptops and mobile platforms and improvements in living standards. According to the report published by the United Nations, around 703 million persons aged 65 years and above were estimated worldwide in 2019, this figure is predicted to reach 1.5 billion by the end of 2050, which is expected to boost the Digital Health Market size in the approaching years. Moreover, rise in consumers spending on the healthcare services, developments in the healthcare IT infrastructure, growing adoption of cloud-based storage systems and rapid urbanization, are some of the additional factors supplementing the Digital Health Market Growth. As per the Digital Health Market Trends, the increasing investments by leading players on research and development, rise in Government's expenditure on the healthcare sector, growing demand for telehealth solutions and strategic partnerships between key companies, are further contributing towards the market growth.

As per the Digital Health Market Research, growing concerns related to patient's data is restricting the growth of Digital Health Market.

The leading players operating in the market are Cisco Systems, Inc.Cerner Corporation, Symantec Corporation, AT&T Inc., Apple Inc., AirStrip Technologies LP, Aruba Networks, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., Alcatel-Lucent Corporation, NextGen Healthcare, Inc. (QSI Management, LLC), IBM Corporation and Google LLC, among others.

Based on Technology, the mHealth segment is predicted to capture the largest market share during the forecast period

According to the Digital Health Market Report, mobile health technology provides patients faster access to providers, enhances medication adherence, and makes remote patient monitoring possible, are some of the factors responsible for the segment's growth.

Based on Component, the Software segment is projected to grow at a significant CAGR over the forecast period

As per the Digital Health Market Analysis, rising adoption of wearable devices and emerging need to upgrade the electronic medical records software, are propelling segment's growth.

Based on Region, the North American region is anticipated to expand at a remarkable CAGR during the forecast period

According to the Digital Health Market Forecast, growing demand for healthcare analytics solutions, improvements in internet connectivity, rising prevalence of chronic diseases, rapid industrialization, increasing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in North American region.

Key Developments

In 2022, DeliverHealth, launched its partner program to unify point solutions in healthcare and clear the path for important, resilient connections among vendors, clinicians, and patients. The platform enables frictionless access and efficient workflows to apply purpose-built explainable AI with needed human-in-the-loop flexibility.
In 2022, Blessing Health System, launched its own home hospital services. Biofourmis is helping the health system with its turnkey, end-to-end, home hospital solution for participation in the Rural Home
In 2021, Philips acquired BioTelemetry, Inc., this acquisition will expand Phillips business portfolio in the market as well as customer base in the coming years.
In 2020, AT&T partnered with LifedMedID and Elo Self-Service Solutions, this partnership is aimed at streamlining patient registrations and check-in-solution. This strategic alliance extends AT&T's edge-to-edge digital healthcare solutions which will strengthen company's foothold in the market.
Market Segmentation

Segmentation by Technology

Tele Healthcare

Tele-care
Activity Monitoring
Remote Medication Management

Tele-health
LTC Monitoring
Video Consultation

mHealth
Wearables
BP Monitors
Glucose Meters
Pulse Oximeters
Sleep Apnea Monitors (PSG)
Neurological Monitors
Activity Trackers/ Actigraphs

mHealth Apps
Medical Apps
Fitness Apps

Healthcare Analytics
Digital Health Systems
EHR
E-prescribing Systems
Segmentation by Component

Hardware
Software
Services
Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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