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Digital Health Global Market Report 2024 To 2033 | Cerner Corporation, GE Healthcare, Epic Systems Corporation, McKesson Corporation, Allscripts Healthcare Solutions Inc
Digital Health Market Share
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According to The Business Research Company's, The digital health market size has grown rapidly in recent years. It will grow from $237.97 billion in 2023 to $283.92 billion in 2024 at a compound annual growth rate (CAGR) of 19.3%. The growth in the historic period can be attributed to rise in disposable income, increasing government initiatives in the healthcare field, increased internet penetration, adoption of advanced technology in the wake of covid-19 and rapid growth in elderly population.
The digital health market size is expected to see rapid growth in the next few years. It will grow to $560.14 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to rising prevalence of chronic diseases, an aging population, demographic shifts in emerging markets, continued technology development, and increasing need for healthcare access will drive the growth in the digital health market. Major trends in the forecast period include augmented reality telecollaboration system, biofeedback apis, use of blockchain technology, 3d ar surgical navigation, integration of artificial intelligence, and increasing collaborations and partnerships.
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Market Drivers and Trends:
The rising prevalence of chronic diseases such as cancer, diabetes, and hypertension is expected to be a major driver of the digital health market. Long working hours, limited physical activity, and unhealthy eating and drinking habits contribute to the prevalence of chronic diseases and leave people suffering from these diseases more vulnerable to chronic diseases, thus driving the need for digital health services platforms. According to a United Nations article, by 2030 the proportion of global deaths due to chronic diseases is expected to increase to 70% of total deaths. The global burden of chronic disease is expected to reach about 60%. Therefore, the rise in the prevalence of chronic diseases is projected to propel the growth of the market.
The use of augmented reality telecollaboration systems is a key trend gaining popularity in the digital health market. Augmented reality (AR) is an enhanced version of the real physical world that is achieved through the use of digital visual elements, sound, or other sensory stimuli delivered via technology. Augmented reality in the healthcare sector is being used by both trained medical professionals as well as in training medical students or during their education to illustrate and teach medical experience in a safe, economical, and comprehensive way. For instance, in August 2021, OpticSurg, a US-based provider of an augmented reality software platform intended to help surgeons in treatment procedures, launched an augmented reality telecollaboration system, named Vision Beyond. It helps in connecting frontline healthcare workers with consulting clinicians in real time. The system is securely encrypted, and HIPAA-compliant which allows remote clinicians to provide audio and visual direction, broadcasting live voice calls and displaying a digital interface and visuals through the glasses to aid the on-site provider. It also allows on-demand access to experts who can potentially provide informed and clear support during a consultation.
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Major Key Players of the Market:
Skillsoft, GP Strategies Corporation, Cornerstone OnDemand Inc, John Wiley & Sons Inc, Franklin Covey Co,Adobe Inc, BTS Group AB, D2L Corporation, Blanchard Training and Development Inc., Simplilearn, 24 Karat Training, 27 Stars Consulting Group, 2C Training Solutions, 3 Seconds, 361 Degree Minds, 39Solutions, Ultimahub, Tang Cultural Media, 17Career, ACG, AMC TRAINING LTD, AOE ChinEase, Art Of Education, AUIA International Summer School, Académie de Bernadac, Action Education, Adaptive Growth Solutions, Amerlish, Aplus Training, Cegos China, Beijing Champion Consulting Ltd, People Business, HewardMills, Scaled, NBT, Cosmic Velocity, Octave Digital, Blimpp, The Education and Skills Partnership Ltd, Rocky.ai, Changing Social, Real Trainers Group, Robot Albert, Ros Expert, Scrum Trek, Founder Institute Ukraine, Freedom Business Mentoring, GAO Global, GUARANTEE TNG, Galaxy Education Centre, Gestalt Coaching International, Golden Staff Study, Great Event School, HUB ONE, Canadian Management Centre, Global Knowledge, Cisco Systems Inc, GP Strategies Corporation, Sons Inc, Wilson Learning Worldwide Inc, FGV, Insper, Saint Paul Escola de Negócios, ISAE Escola de Negócios, UV CONSULTANTS, CounselTrain, Kompass Consultancy, IIPD Global, Kaplan Genesis, Learners Point, Centre for Management Development, Institute of Chartered Accountants of Nigeria, MasterStart, Milpark Education, NADIA Training Institute, Nigeria Institute of Management, Zabeel International Institute of Management and Technology
Digital Health Market 2024 Key Insights:
• The digital health market size is expected to see rapid growth in the next few years. It will grow to $560.14 billion in 2028 at a compound annual growth rate (CAGR) of 18.5%.
• Addressing The Global Rise In Chronic Diseases Through Digital Health Solutions
• Augmented Reality Telecollaboration Systems Transform The Digital Health Landscape
• North America was the largest region in the digital health market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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