openPR Logo
Press release

Digital Health Market Size, Share, Trends and Revenue | Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE HealthCare (US), Abbott (US)

01-04-2024 11:24 AM CET | Health & Medicine

Press release from: MarketsandMarkets

Digital Health Market

Digital Health Market

Digital Health Market in terms of revenue was estimated to be worth $180.2 billion in 2023 and is poised to reach $549.7 billion by 2028, growing at a CAGR of 25.0% from 2023 to 2028 according to a new report by MarketsandMarkets.

The growth of this market is driven by the expansion of telemedicine and telehealth services, enhanced patient engagement and empowerment and increased investment in health tech startups. On the other hand, variability in healthcare infrastructure and digital literacy, reimbursement and payment issues are some of the factors challenging the growth of the market.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=45458752&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral

"Hardware segment is expected to grow at the highest rate during the forecast period"

Based on offering, the digital health market is segmented into hardware, software, services and applications. In 2022, the hardware segment is expected to grow at the highest CAGR during the forecast period. The highest growth rate is attributed to increased patient demand for convenient healthcare solutions, healthcare provider adoption for improved care and operations, and expansion of telehealth & chronic disease management.

"Telehealthcare technology segment accounted for the largest share of the global digital health market"

Based on technology, the digital health market is segmented into telehealthcare, mHealth, health management solutions and digital therapeutics. The telehealthcare segment accounted for the largest share of the global market in 2022. Factors such as increased demand for remote healthcare services, especially due to the COVID-19 pandemic, accelerated telehealthcare adoption.

"The chronic disease management application segment accounted for the largest share of the digital health market in 2022"

On the basis of application, the digital health market is segmented into chronic disease management, behavioral health, health & fitness and others. The chronic disease management segment accounted for the largest share of the market in 2022 period, owing to the increasing prevalence of chronic conditions, an aging population, and lifestyle-related health issues.

"Patients & Consumers segment is expected to grow at highest groeth rate in the global digital health market"

On the basis of end user, the digital health market is segmented into providers, payers and patients & consumers. The high growth of this segment is attributed to increasing awareness of self-health management, proliferation of smartphones and wearable devices that has made health tracking and monitoring more accessible and convenient.

"Asia Pacific is expected to register highest growth rate in the digital health market during the forecast period"

Asia Pacific is expected to grow at the highest CAGR during the forecast period. The highest growth rate can be attributed to large population, increasing healthcare expenditure, mobile technology proliferation and rising chronic diseases. Governments in the region are implementing initiatives to promote digital health solutions, such as funding for research and development, and regulatory frameworks to ensure patient safety and privacy.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=45458752&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral

Digital Health Market Dynamics:

Drivers:

1. Increasing penetration of smartphones, tablets, and other mobile platforms

Restraints:

1. High cost of deployment of digital health solutions

Opportunities:

1. Increasing advancements and adoption in digital health

Challenge:

1. Privacy and security concerns

Key Market Players of Digital Health Industry:

Prominent players in the digital health market include Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE HealthCare (US), Abbott (US), OMRON Corporation (Japan), Fitbit, Inc. (A google company) (US), Johnson & Johnson Private Limited (US), Siemens Healthineers AG (Germany), Masimo (US), Apple, Inc. (US), Merative (US), AT & T, Inc. (US), Veradigm LLC (US), Noom, Inc. (US), Teladoc Health, Inc. (US), Omada Health Inc. (US), Dexcom, Inc. (US), Biotricity (US), iHealth Labs Inc (US), my mhealth Limited (UK), athenahealth (US), eClinicalWorks (US), AirStrip Technologies, Inc (US), AdvancedMD, Inc. (US) and Qardio, Inc. (US). Players adopted organic as well as inorganic growth strategies such as product upgrades, collaborations, agreements, partnerships, and acquisitions to increase their offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

Breakdown of supply-side primary interviews, by company type, designation, and region:

· By Supply Side: Tier 1 (31%), Tier 2 (28%), and Tier 3 (41%)

· By Demand Side: Purchase Managers (45%), Head Of AI, ML, Drud Discovery & Computational Molecular Design (30%), Research Scientists (25%)

· By Designation: C-level (31%), Director-level (25%), and Others (44%)

· By Region: North America (45%), Europe (20%), Asia Pacific (28%), and RoW (7%)

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=45458752&utm_source=Openpr&utm_campaign=Paid&utm_content=Referral

Recent Developments:

· In May 2023 Medtronic (Ireland) acquired EOFlow Co. Ltd. (South Korea) to expand its ability to treat patients with diabetes.

· In March 2023, GE HealthCare (US) partnered with Advantus Health Partners (US) to sign a multi-year contract to expand access to Healthcare Technology Management Services.

· In April 2023, Abbott (US) acquired Cardiovascular Systems, Inc. (CSI) (US) to gain a complementary treatment option for vascular illness. The highly advanced atherectomy technology from CSI prepares vessels for angioplasty or stenting to restore blood flow.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Digital Health Market Size, Share, Trends and Revenue | Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE HealthCare (US), Abbott (US) here

News-ID: 3343357 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Health

Health Coach Market Positioned for Accelerated Growth with Iora Health, Virta He …
Global health coach market is estimated to be valued at USD 18.83 Bn in 2025 and is expected to reach USD 30.65 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 7.2% from 2025 to 2032. Latest Report on the Health Coach Market 2025-2032, focuses on a comprehensive analysis of the current and future prospects of the Health Coach Market industry. An in-depth analysis of historical trends, future trends,
Digital Therapeutics Market Research 2025 Leading Key Players - Proteus Digital …
An exclusive Digital Therapeutics Market research report created through broad primary research (inputs from industry experts, companies, and stakeholders) and secondary research, the report aims to present the analysis of Global Digital Therapeutics Market by Type, By Application, By Region - North America, Europe, South America, Asia-Pacific, Middle East and Africa. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report
Digital Therapeutics Market Outlook 2025 : Proteus Digital Health, Omada Health, …
ReportsWeb.com has announced the addition of the “Global Digital Therapeutics Market Size, Status and Forecast 2025” The report focuses on major leading players with information such as company profiles, product picture and specification. This report studies the global Digital Therapeutics market, analyzes and researches the Digital Therapeutics development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market,
Digital Therapeutics Market Outlook to 2025 - Propeller Health, CANARY HEALTH, N …
The global digital therapeutics market is segmented on the basis of application, distribution channel, and geography. The application segment includes, respiratory diseases, central nervous system disease, smoking cessation, medication adherence, cardiovascular diseases, musculoskeletal diseases, and other applications. Based on distribution channel, the digital therapeutics market is segmented as, B2B and B2C. Digital therapeutics, a subset of digital health, is a health discipline and treatment option that utilizes a digital and
Digital Therapeutics Market Analysis 2018 | Growth by Top Companies: Proteus Dig …
Global Digital Therapeutics Market to 2025 This report "Digital Therapeutics Market Analysis to 2025" provides an in-depth insight of medical device industry covering all important parameters including development trends, challenges, opportunities, key manufacturers and competitive analysis. Digital therapeutics, a subset of digital health, is a health discipline and treatment option that utilizes a digital and often online health technologies to treat a medical or psychological condition. The treatment relies on behavioral and
Digital Therapeutics Market Global Outlook to 2025 - Proteus Digital Health, Wel …
“Digital Therapeutics Market" covers a detailed research on the industry with financial analysis of the major players. The report provides key information and detailed study relating to the industry along with the Economic Impact and Regulatory and Market Support. The report examines the industry synopsis, strategic investments, Industry Surveys, Economic Impact, etc. The market of digital therapeutics market is anticipated to grow with a significant rate in the coming years, owing