Press release
Comprehensive Digital Health Market Forecast 2025-2034: Growth Trends and Strategic Shifts
Digital Health Market
What Is the Expected CAGR for the Digital Health Market Through 2025?
Recent years have seen the size of the digital health market rise significantly. This size is projected to increase from $271.53 billion in 2024 to $319.16 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 17.5%. This growth during the historic period can be traced back to greater disposable income, enhanced government efforts in the realm of healthcare, wider internet accessibility, the implementation of cutting-edge technology due to COVID-19, and a swift increase in the older demographic.
What's the Projected Size of the Global Digital Health Market by 2029?
Expectations are high for the rapid expansion of the digital health market in the upcoming years. With an anticipated market value of $595.47 billion in 2029 and a compound annual growth rate (CAGR) of 16.9%, significant growth is forecasted. Factors such as the high occurrence of chronic illnesses, an aging populace, demographic changes in emerging economies, consistent technological advancements, and an escalating need for healthcare access are the catalysts for this market growth. The forecast period will witness key trends such as augmented reality telecommunication systems, biofeedback APIs, adoption of blockchain technology, 3D AR surgical navigation, artificial intelligence incorporation, and a surge in collaborations and partnerships.
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Top Growth Drivers in the Digital Health Industry: What's Accelerating the Market?
The escalating occurrence of long-term diseases like cancer, diabetes, and hypertension is projected to significantly propel the digital health market. Factors such as extended working hours, reduced physical exercise, and poor dietary and drinking habits make individuals more susceptible to chronic illnesses. This, in turn, underscores the importance of digital health services platforms. For example, the American Cancer Society, a nonprofit organization advocating for cancer in the US, reported an increase in cancer cases from 1,958,310 in 2023 to 2,001,140 in January 2024, an uptick of 2.19%. Consequently, the increasing prevalence of chronic diseases is anticipated to catalyze the expansion of the market.
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What Trends Will Shape the Digital Health Market Through 2029 and Beyond?
One trending innovation gaining traction in the digital health market is the application of augmented reality telecollaboration systems. This technology, Altered Reality (AR), uses digital enhancements to alter the perception of the physical world and is achieved by incorporating digital visuals, sounds or other sensory components provided through technological means. This version of reality is employed within the healthcare industry by certified medical practitioners and is also incorporated in the education and training of medical students. The intention is to provide a comprehensive, cost-effective and safe method for conveying and simulating medical experiences. As an example, in May 2024, AppliedVR, a U.S-based producer of medical technology, unveiled RelieVRx. This was the first-ever virtual reality prescription therapy authorized by the FDA for the treatment of chronic lower back pain (CLBP), aimed at individuals claiming workers' compensation. The device provides workers with a fully immersive VR experience to help them develop skills to manage and minimize their CLBP. This alternative, non-drug related therapy is not only cost-effective but also clinically proven to reduce the severity of pain and its interruption of everyday activities, by incorporating validated elements of cognitive behavioral therapy, biofeedback and emotional regulation.
What Are the Main Segments in the Digital Health Market?
The digital health market covered in this report is segmented -
1) By Technology: Mobile Health (Mhealth), Health Information Technology, Telehealth And Telemedicine, Health Analytics, Other Technologies
2) By Application: Cardiology, Diabetes, Neurology, Sleep Apnea, Oncology, Other Applications
3) By End-User: Healthcare Providers, Healthcare Payers, Pharmaceutical Companies, Other End Users
Subsegments:
1) By Mobile Health (mHealth): Health Apps, Wearable Devices, Remote Patient Monitoring
2) By Health Information Technology: Electronic Health Records (EHR), Health Information Exchange (HIE), Practice Management Systems
3) By Telehealth And Telemedicine: Virtual Consultations, Remote Diagnosis, Teletherapy
4) By Health Analytics: Predictive Analytics, Data Management Solutions, Population Health Management
5) By Other Technologies: Blockchain In Health, Artificial Intelligence In Health, Internet Of Medical Things (IoMT)
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Which Top Companies are Driving Growth in the Digital Health Market?
Major companies operating in the digital health market include Cerner Corporation, GE Healthcare, Epic Systems Corporation, McKesson Corporation, Allscripts Healthcare Solutions Inc. Truven Health Analytics, Siemens Healthcare AG, eCLINICALWORKS, Cisco Systems Inc., Koninklijke Philips N.V., Innovaccer, Pharm Easy, 1mg, Practo, Mfine, Medi Buddy, Indegene, Ping A Good Doctor, JD Health, Honeywell Lifesciences, Philip Healthcare, Better Doc, Biovotion, BrainControl, Coimbra Genomics, Dacadoo, Doctoralia, Emperra, Exovite, Genexyx, Giraff, Healthbank, NeurNation, Nutrino, Psious, Px Healthcare, SilverCloud, Systems Healthcare Solutions, TrialReach, XtremeVRI, DOC+, Best Doctor, TeleMD, mediSensum, Apteki +, FindMeCure, ECG for Everybody, Eye read, InterAxon, Figure 1, Myndtec, Seamless MD, ApoloHealthMx, ECGlove, Heal on Site, Teladoc, MeMD, Amwell, MDlive, Aerotel Medical Systems Ltd, Care Innovations LLC, Honeywell Life Care Solutions, Polycom Inc, Didoc, Betterfly, Deenty, Examedi, Dentalink, Cero, Wecancer, MedPass, Pixeon, Hi Technologies, Conexa Saude, AXON Digital Health, Wuru, Yerbo, Welii, BioScience, Caecus, Omnia Salud, Altibbi, Dhoner Healthtech, Okadoc, DoctorsAE, Takalam, AlemHealth, DU, UAE's Mulk, Cura, Primary Health Care Corporation, AMD Global Telemedicine Inc, Safermom, Mobicure, Ubenwa, Medsaf, GenRx, Medical device as a service, Kangpe, Hudibia, Lifebank, Redbank
Which Regions Will Dominate the Digital Health Market Through 2029?
North America was the largest region in the digital health market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the digital health market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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