Status : Published | Published On : Jun, 2024 | Report Code : VRHC1096 | Industry : Healthcare | Available Format : | Page : 200 |
From USD 182.4 billion in 2023, the Global Digital Health Market is predicted to grow to USD 610.4 billion by 2030, registering a CAGR of 28.0% during the forecast period (2025 –2030). The global digital health market is growing at a significant rate, due to the growing penetration of smartphone and tablet users, and the increasing occurrence of chronic and lifestyle-associated diseases such as cardiovascular diseases.
Digital health refers to the online care services provided to patients. It also includes digital diagnostic processes. Some of the most common digital health technologies are wireless technologies, digital diagnostic systems, and electronic health records. Typically, these include a wide range of data and information such as the history of the patient, medication records and treatment plans, allergies and diagnosis, laboratory test results, and radiology images. With all the features and benefits of digital health systems, they have the potential to transform healthcare by enhancing accessibility and facilitating proactive health management. In addition, it reduces the costs of healthcare and improves patient outcomes. Typically, these systems and solutions help patients monitor their health, stick to the prescribed treatment plans, and communicate with the care providers as and when required promptly and effectively.
A large number of factors, such as the growing number of wearable device producers, telehealth platform developers, e-prescription systems, and mHealth app providers, drive the growth of the digital health market. The rate of growth is quite significant due to the higher number of users of smartphones and tablets. It is also attributed to the growing incidents of chronic diseases and other ailments related to the lifestyle of people, such as cardiovascular diseases.
Market Segmentation
Insight by Technology
The Global Digital Health Market is divided by technology into health, electronic health records (EHR), healthcare analytics, telemedicine, mHealth devices, mHealth apps, and telehealth segments. Out of these segments, the health segment is expected to contribute the largest share of the market due to the widespread application of technologically advanced wearables and apps. The mHealth segment is further divided into services, health apps, and connected devices, where the connected devices will contribute the largest share due to higher adoption. The telemonitoring subsegment under the telemedicine segment will grow at a faster rate due to the low doctor-to-patient ratio, busy lifestyles, and increase in IT infrastructure.
Insight by Component
The Global Digital Health Market is divided by components into hardware, software, and services segments. Out of them, the services segment leads the market with the largest revenue share due to higher demand for specific types of services such as installation, training, upgrading, staffing, maintenance, allocation of resources, and more. These services are offered by the market players either in packages or individually. The software segment will grow at a higher CAGR due to growing adoption by healthcare facilities and by care providers, insurance payers, and patients. In addition, the rising healthcare expenses and digitalization trend, the preference for personalized medicine, the shift towards value-based care, and the need to streamline workflows and increase efficiency and financial outcomes also contribute to the growth of the software segment.
Insight by Application
The Global Digital Health Market is divided by applications into obesity, diabetes, cardiovascular, respiratory diseases, and other segments. Among them, the diabetes segment is expected to grow at a high CAGR due to higher prevalence and inherent complications. Digital health systems allow tracking diabetes with wearable devices or monitoring systems to offer real-time data. This allows active and immediate response and simplifies remote patient monitoring by providing timely data to healthcare providers, allowing effective diabetes management. The obesity segment will also grow significantly due to high prevalence, growing need for more effective solutions for weight management, and preference for customized approaches.
Insight by End Users
The Global Digital Health Market is divided by end users into patients, providers, payers, and other segments. Out of these, the patient segment will grow at a higher CAGR due to the growing preference for and prevalence of patient-centric care, higher awareness among individuals about the benefits of managing health, the development of health technologies that allow self-management, access to health information, and remote monitoring. The providers segment will also grow due to the higher adoption of innovative technologies and digital solutions to provide customized care plans, remote consultations, and proven therapies beyond conventional care settings, which helps improve patient outcomes.
Report Metric |
Details |
Historical Period |
2018 - 2023 |
Base Year Considered |
2024 |
Forecast Period |
2025 - 2030 |
Market Size in 2023 |
U.S.D. 182.4 Billion |
Revenue Forecast in 2030 |
U.S.D. 610.4 Billion |
Growth Rate |
28.0% |
Segments Covered in the Report |
By Technology, By Component, By Application and By End User |
Report Scope |
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling |
Regions Covered in the Report |
North America, Europe, Asia-Pacific, Middle East, South America and Rest of the World |
Industry Dynamics
Industry Trends
One of the most notable trends in the digital health market is the rapid advancement in cloud computing and its extensive use in healthcare delivery. This has promoted remote patient monitoring promoting telemedicine using connected devices. The use of different health and wellness passes is another significant trend that leverages data received from wearable devices and provides customized recommendations. The use of Electronic Health Records (EHRs) has also increased to maintain and access medical records easily, quickly, and securely. Innovative technologies such as AI, data analytics, sensors, wearable devices, and even blockchain are also integrated with healthcare delivery to improve patient outcomes.
Growth Drivers
The primary growth driver of the digital health market is the rising internet penetration worldwide that allows extensive use of healthcare apps and wearable devices. This facilitates prompt intervention and remote patient monitoring. It is also attributed to technological developments and an increase in healthcare technology startups. Another significant growth driver is the increasing healthcare costs, which calls for cost-effective solutions to provide healthcare services such as digital health solutions. The growing aging population has a higher propensity of developing chronic diseases that need these solutions for proactive health management and prompt intervention. Along with that, the growing demand for accessible and convenient health care and favorable government initiatives support the market growth.
Challenges
The growth of the digital health market is inhibited by the lower adoption and use of the devices. Technical complexities and data privacy concerns also prevent the market from growing extensively. Moreover, there is an immediate need for amendments to the traditional payment and reimbursement models in healthcare that do not accommodate these solutions adequately.
Opportunities
Opportunities for growth of the digital health market lie in the ability of wearable devices to empower patients to manage their health promptly and proactively and to leverage remote monitoring. It also promotes adherence to care plans through timely reminders and tailored coaching apps that keep patients on track and promote health outcomes through improved communications and timely consultations.
Geographic Overview
North America contributes the largest share of the market due to the high demand for such solutions and services. It is mainly attributed to the growth of chronic diseases and lifestyle-related diseases among the population. Favorable government initiatives and efforts by companies to promote innovative healthcare delivery digital models, along with rapid digitalization of healthcare, result in higher growth in the region.
Asia-Pacific market will also grow due to a rise in the number of consumers and a lower doctor-to-patient ratio in developing countries like India and China. Higher growth is also attributed to the rise in the adoption of eHealth platforms, healthcare expenditure, remote patient monitoring, and telehealth services, and government investments in healthcare.
Competitive Insights
Oracle Cerner or Oracle Health, formerly Cerner Corporation, is a US-based, multinational provider of health information technology (HIT) platforms and services.
Epic Systems Corporation is an American privately held healthcare software company. According to the company, hospitals that use its software hold medical records of 78% of patients in the United States and over 3% of patients worldwide.
Key players in the digital health market are catering to the demand for these devices by investing in technologically advanced products in their product portfolios across the globe. Qualcomm Incorporated, athenahealth Inc., Cisco Systems Inc., Cerner Corporation, McKesson Corporation, Koninklijke Philips N.V., eClinicalWorks LLC, AT&T Inc., Allscripts Healthcare Solutions Inc., Epic Systems Corporation, and General Electric Company are the key players offering digital health.
Recent Developments by Key Players
Qualcomm collaborates with a variety of organizations, through the Qualcomm Wireless Reach initiative, to help close the global digital divide. Qualcomm is working with George Washington University Medical Faculty Associates to reduce the digital divide in healthcare by providing Medicaid patients with digital literacy skills and remote patient monitoring devices.
Microsoft and Epic expand AI collaboration to accelerate generative AI’s impact in healthcare, addressing the industry’s most pressing needs, including Azure OpenAI Service into Epic’s EHR to automatically draft message responses, as well as a solution that will bring natural language queries and interactive data analysis to SlicerDicer, Epic’s self-service reporting tool.
Forecast Parameters
Data Validation
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data, and have key opinions from industry experts. The key profiles approached within the industry include, CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end user surveys comprising of consumers are also conducted to understand consumer behavior.
The Digital Health Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Digital Health Market by Region
Source: VynZ Research
Source: VynZ Research
Digital Health Market