Press release
Digital Health Market Projected To Reach $1,432.92 Billion By 2030 | CAGR: 27.4%
The global digital health market size was valued at USD 175.43 billion in 2021 and is expected to grow to USD 1,432.92 billion by 2030, at a CAGR of 27.4% during 2022-2030.Market Overview
Digital health includes categories such as mobile health (mHealth), health information technology (IT), wearable devices, telehealth and telemedicine, and personalized medicine. From mobile medical apps and software that support the clinical decisions doctors make every day to artificial intelligence and machine learning, digital technology has been driving a revolution in health care. Digital health tools have the potential to improve our ability to diagnose and treat diseases and enhance the delivery of health care to patients.
Digital health technologies use computing platforms, software, and sensors for health care. These technologies span a wide range of uses, from applications in general wellness to applications as medical devices. They include technologies intended for use as a medical product, as a combination with diagnostics, or as a subsidiary to medical products such as devices, drugs, and biologics.
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Competitive Landscape
The market has the presence of both established players and new entrants. Some of the major market participants include:
• AT&T Inc.
• AirStrip Technologies Corporation
• Allscripts Incorporation
• Apple, Inc.
• BioTelemetry Inc.
• Cerner Corporation
• CISCO Systems, Inc.
• Computer Programs and Systems, Inc.
• Epic Systems Corporation
• Google, Inc.
• IBM Corporation
Digital Health Market Report Highlights
• The software segment is anticipated to grow at a fastest CAGR over the forecast period due to the quick implementation of software systems by patients, medical institutions, clinicians, and insurance payers. The rising cost of medical as well as the expanding trend of medical digitalization are factors in the expansion of the software market.
• The health analytics segment accounted for a significant share of the global revenue on account of developments in analysis tools such as big data and other advanced analytics
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Growth Drivers
• The industry is developing due to surging smartphone penetration and enhanced global internet connectivity. Smartphones now serve as fitness monitors and communication and entertainment products. Market players are creating innovative mobile applications to track everyday activities such as fitness, diet, activity, and well-being to provide customers with high treatment and convenience.
• Mobile apps are being increasingly used to cater to the personal demands of patients. They allow consumers to find out about medical questions, track consultations, make appointments, keep their medical information, and track and obtain prescriptions for medication.
Segmental Analysis
• The digital health market is segmented based on technology, component, application, and region.
• Based on component, the market is categorized into hardware, software, and service. The service segment accounted for the largest market share.
• By application, the market is categorized into cardiology, diabetes, neurology, sleep apnea, oncology, and others.
• By technology, the market is categorized into telehealthcare, MHealth, health analytics, and digital health systems.
Digital Health, Technology Outlook (Revenue - USD Billion, 2018 - 2030)
• Telehealthcare
o Telecare
Activity Monitoring
Remote Medication Management
o Telehealth
LTC Monitoring
Video Consultation
• Mhealth
o Wearables
BP Monitor
Glucose Meter
Pulse Oximeter
Sleep Apnea Monitors
Neurological Monitors
Others
Apps
Medical Apps
Fitness Apps
• Health Analytics
• Digital Health Systems
o Electronic Health Records
o E-Prescribing Systems
Digital Health, Component Outlook (Revenue - USD Billion, 2018 - 2030)
• Hardware
• Software
• Service
Digital Health, Application Outlook (Revenue - USD Billion, 2018 - 2030)
• Cardiology
• Diabetes
• Neurology
• Sleep Apnea
• Oncology
• Others
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Regional Assessment
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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