The Digital Health Market size is expected to be worth around US$ 300.4 billion by 2030 and is anticipated to grow at a CAGR of 15.5% from 2021 to 2030, according to a new report by Vision Research Reports.
The Digital Health Market size is expected to be worth around US$ 300.4 billion by 2030 and is anticipated to grow at a CAGR of 15.5% from 2021 to 2030, according to a new report by Vision Research Reports.
The global digital health market size was valued at US$ 96.9 billion in 2020. The global digital health market is driven by increase in incidence of diabetes, cardiovascular diseases, and other chronic diseases; rise in adoption of digital health products by health care providers, and surge in government initiatives. Digital health is technology-enabled care that involves the convergence of digital media, health technology, and mobile devices. It is designed to help patients, caregivers, and healthcare professionals access the relevant data easily and improve the quality of both social and individual health.
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Rising smartphone penetration & integration of advanced technologies, such as the(IoT) & (AI), and increasing implementation of mHealth technologies for self-management of chronic diseases, such as diabetes, are some of the major factors driving the market. In addition, increasing demand for enhancing workflow efficiency in clinics, hospitals, and other healthcare centers is further boosting the demand for mHealth services thereby, aiding the market growth.
In this study, the years considered to estimate the market size:
- History Year: 2017-2020
- Base Year: 2021
- Forecast Year 2022 to 2030
Increase in Adoption of Cloud-based Systems Drives Market
The higher adoption of cloud services, mobile devices, and large number of mobile apps has stretched the characteristic boundary of enterprises. For enterprises, identity and access management represents the ability to validate users and supervise access by various people, from employees to partners to consumers, and protect sensitive resources. Advanced technologies, especially information technology, are creating new kinds of devices and new networks that are introducing new threats for which new security approaches are required. Furthermore, the developing market provides cyber security sellers with new avenues for innovation.
Report Highlights
- The mHealth technology segment dominated the global market in 2020 with revenue share of 47% owing to the increasing penetration of smartphones and rising number of strategic alliances among mobile operators & mHealth startups.
- The services segment accounted for the largest revenue share of 47.19% in 2020.
- North America accounted for the largest market share of 38.77% in 2020 and will expand further at a steady CAGR over the forecast period owing to rise in the geriatric population and awareness regarding health & fitness among consumers
- High internet and smartphones penetration along with growing usage of medical/health-related apps is one of the key factors responsible for the market growth in North America
- However, APAC is expected to register the fastest CAGR from 2021 to 2028 due to the rising usage of tablets, smartphones, and other mobile platforms
- The rising geriatric population in countries, such as India and China, and the growing burden of chronic conditions are further boosting the demand for mHealth technologies in the region.
- Europe comprises major countries such as Germany, France, the U.K., Spain, and Italy. Germany and the U.K. accounted for a significant share of the digital health market in Europe in 2020. Increase in government initiatives and new product launches are likely to fuel the growth of the digital health market in the countries during the forecast period.
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Market Segmentation
- Technology Outlook
- Tele-healthcare
- Tele-care
- Activity Monitoring
- Remote medication Management
- Tele-health
- LTC Monitoring
- Video Consultation
- Tele-care
- mHealth
- Wearables
- BP Monitors
- Glucose Meters
- Pulse Oximeters
- Sleep Apnea Monitors
- Neurological Monitors
- Activity Trackers/Actigraphs
- mHealth Apps
- Medical Apps
- Fitness Apps
- Services
- mHealth Services Market, By Type
- Monitoring services
- Independent Aging Solutions
- Chronic Disease Management & Post-acute Care Services
- Diagnosis Services
- Healthcare Systems Strengthening Services
- Others
- Monitoring services
- mHealth Services Market, By Participants
- Mobile Operators
- Device Vendors
- Content Players
- Healthcare Providers
- Wearables
- Healthcare Analytics
- Digital Health Systems
- EHR
- E-prescribing Systems
- Tele-healthcare
- Component Outlook
- Software
- Hardware
- Services
- Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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