Digital Health Market Growth Analysis

Market Insights

The digital health market was estimated at USD 174.2 Billion in 2021 and is likely to grow at a CAGR of 18.2% during 2022-2028 to reach USD 561.52 Billion in 2028.

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What is Digital Health?

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

Market Drivers

• Rising smartphone or mobile phone 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.

Segment Analysis

Technology Type

The tele-healthcare segment is projected to maintain its dominance by owning more than 36% of the market share in 2021.

The market is segmented as tele-healthcare, mHealth, health analytics, and digital health system. 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 into hardware, software, and services. The services segment is expected to remain the most dominant in the market over the forecast period and by owing more than 45% share in 2021 due to the growing demand for remote patient monitoring, synchronous services, and asynchronous services.

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Regional Analysis

North America held the highest market share of more than 45% in 2021 and grow with a lucrative CAGR over the forecast period, owing to a well-developed healthcare infrastructure, huge healthcare expenditure, high adoption of advanced technology, and the presence of a tech-savvy population.

Know the high-growth countries in this report. 

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

Segment-Wise Analysis -

Technology Type:

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

Component Type:

• Hardware
• Software
• Services

Region:

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

, to know the market segmentation details.

Research Methodology

This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides 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 dynamics and will enable strategic decision-making for the existing players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive 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)

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.

Recent Industry Developments

24th July 2022, Facebook co-founders VC firm eyes digital health tech and fintech for the investment. It is also looking to invest in logistics and supply chains, helping industries to scale up digitization. Read More...

21st July 2022, Altera Digital Health signs a new agreement with SingHealth to enhance healthcare delivery, The continued partnership will support SingHealth in streamlining its clinical workflows to enhance care coordination. Read More...