Digital Health Market Size & Share

Market Insights

Digital health market was estimated at USD 205.9 Billion in 2021 and is likely to grow at a CAGR of 18.2% during 2022-2027 to reach USD 475.1 Billion in 2027.

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What is Digital Health?

Digital health is defined as incorporation of electronic communication and information technology used in managing different healthcare processes for people’s health and wellbeing. This concept is an umbrella-term for mHealth apps, wearable devices, electronic health records, electronic medical records, telemedicine and telehealth, etc.

Market Drivers

• Rising smartphone penetration & integration of advanced technologies, such as the internet of things (IoT) & artificial intelligence (AI).
• Advancing healthcare IT infrastructure.
• Increasing demand for remote patient monitoring services.

Key Players

Some of the major market players of digital health are-

• AdvancedMD Inc.
• Allscripts Healthcare Solutions Inc.
• Biotelemetry Inc.
• iHealth Lab Inc.
• McKesson Corporation
• Koninklijke Philips N.V.
• AT & T
• Cerner Corporation
• Cisco Systems.

Segment Analysis

Technology Type

• The market is segmented as tele healthcare, mHealth, health analytics, and digital health system. 
• The tele healthcare segment is projected to maintain its dominance over the forecast period.
• Owing to the increasing geriatric population, growing prevalence of chronic diseases, improving accessibility to the internet, and dearth of skilled healthcare professionals.

Component Type

• The market is segmented as hardware, software, and services. 
• The services segment is expected to remain most dominant in the market over the forecast period due to the growing demand for remote patient monitoring, synchronous services, and asynchronous services.

Regional Analysis of Digital Health Market

In terms of regions, North America is projected to be the largest market during 2022-27. The North American market is expected to grow with a lucrative CAGR over the forecast period, owing to well-developed healthcare infrastructure, huge healthcare expenditure, high adoption of advanced technology, and presence of tech savvy population.

Market Segmentation

The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The digital health market is segmented into the following categories. 

Digital Health Market Size, Share, & Forecast, by Technology Type:

• Tele healthcare  
• mHealth 
• Health Analytics
• Digital Health Systems

Digital Health Market Size, Share, & Forecast, by Component Type:

• Hardware
• Software
• Services

Digital Health Market Size, Share, & Forecast, by Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Research Methodology

• This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data.
• We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the technology types by component type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Technology portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and  others, please send your inquiry at sales@stratviewresearch.com.