North America Digital Health Market to Reach Valuation US$ 712.8 Bn By 2030

According to Nova one advisor, the North America Digital Health market size was valued at US$ 80.9 billion in 2021 and is expected to hit US$ 712.8 billion by 2030, growing at a compound annual growth rate (CAGR) of 27.11% from 2022 to 2030.

Favorable consumer perception on telehealth usage is increasing the willingness of healthcare service providers to use digital health and regulatory changes are enabling better reimbursement. These are some of the major factors anticipated to drive the market growth over forecast periods. In addition, the shortage of medical professionals, the growing geriatric population, and the increasing prevalence of chronic diseases, such as diabetes, cancer, and Cardiovascular Disorders (CVDs), are also expected to boost the adoption of remote patient monitoring platforms over the years.

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Moreover, high penetration of smartphones and the internet, improved healthcare digitalization, increasing preference for virtual healthcare services are some factors supporting the market growth. Furthermore, increasing digital transformation of healthcare systems incorporating hardware, software, and services is anticipated to boost the market growth. The growing demand for efficient and quick healthcare services using smartphones and other platforms, such as computers and tablets, is further expected to complement the industry growth. A rise in smartphone users and the frequent launch of novel mobile healthcare apps with better functionality are also supporting the market growth.

 For instance, in August 2021, Abbott received the U.S. Food and Drug Administration (FDA) approval for its iPhone-compatible FreeStyleLibre 2 iOS application for Continuous Glucose Monitoring (CGM). This app enables remote monitoring of glucose readings of patients and gets real-time alarms to manage diabetes. The growing prevalence of several chronic diseases, such as cancer, heart disease, hypertension, stroke, diabetes, and respiratory diseases, which can lead to hospitalization or long-term care, is also driving the market. The shortage of healthcare professionals and the growing requirement for long-term care for chronic disease patient management boosts the preference for remote patient monitoring services, which, in turn, is anticipated to fuel the market growth over the coming years.

Report Scope of the North America Digital Health Market

For instance, according to The U.S. Centers for Disease Control and Prevention (CDC), 6 in 10 Americans have at least one chronic disease. Furthermore, according to the National Health Council report, more than 40% of the population in the U.S. is affected by incurable or ongoing chronic diseases. In addition, the digital healthcare platforms enable virtual consultation among the healthcare professionals and patients, which provides benefits, such as shorter hospital stay, self-management, improvement in the quality of life, and reduction in healthcare expenses, thereby driving the market growth. Furthermore, increasing government initiatives on the development of virtual healthcare platforms to provide services & support for better patient care in remote locations, through online social platforms, and mobile device apps are also driving the market growth.

For instance, in August 2021, the U.S. government invested USD 19 million to expand telehealth quality nationwide and improve telehealth services in rural and other underserved communities. Such types of initiatives through digital platforms by the government to provide improved health quality and timely clinical assessment and treatment to the most vulnerable populations of the region are, in turn, anticipated to accelerate the market growth. The government-imposed shutdown and lockdowns in the region and increased usage of remote healthcare services through digital health platforms during the COVID-19 pandemic drove the market growth in 2020.

In addition, the rapid advancement of information and communication technology using portable electronic devices for remote patient monitoring and Electronic Health Records (EHRs) management to improve the decision-making process without in-person visits, in turn, boosted the market growth during the pandemic. The COVID-19 pandemic has made digital health platforms, such as telehealth, mHealth, telemedicine, and telecare, the basic need for healthcare providers and patients with chronic diseases. Benefits of remote healthcare platforms, such as the reduced risk of direct contamination of pathogens, improved access to care, and minimized use of healthcare resources, have also propelled the market growth in 2020.

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Technology Insights

The telehealthcare segment accounted for the highest share of more than 41.9% of the total revenue in 2021. This share is attributed to the high adoption of the technology for treating, diagnosing, and controlling diseases during the COVID-19 pandemic. The segment is also anticipated to register the fastest CAGR over the forecast years due to the increased preference by patients and healthcare providers to use low-cost virtual disease management using telehealth platforms. In addition, growing promotion by the medical professionals to adopt telehealth platforms for better patient engagement is anticipated to drive the segment further during the forecast years.

Increasing investments by manufacturers to develop improved telehealth platforms for better remote patient monitoring and self-diagnostics services also support the segment growth. For instance, in January 2021, Teladoc Health and Dexcom collaborated and introduced CGM technology to offer real-time health recommendations for Type 2 diabetic patients. In addition, the broad application of the telehealth platform to manage several disease conditions of vulnerable people and patients from remote locations is anticipated to accelerate the segment growth during the forecast years.

Component Insights

The services component segment dominated the market in 2021 and accounted for the largest share of more than 37.7% of the overall revenue. This share is attributed to the growing preference for training, staffing, resource allocation, optimization, and maintenance of digital health platforms. The increasing services of post-installation and pre-installation of the healthcare component offered by the key players are also expected to accelerate the segment growth over the forecast years. In addition, increasing expectations of the consumers to get better digital platforms and the growing focus of market players on providing better services are the major factors expected to drive the segment growth over the forecast period.

On the other hand, the fastest growth rate is expected from the software segment over the forecast years owing to the rapid development of improved healthcare software by key market players. In addition, rapid adoption of several applications or software among providers, patients, healthcare institutions, and insurance payers is anticipated to drive the growth of this segment over the years to come. Moreover, the increasing trend of healthcare digitalization and the introduction of new software are anticipated to fuel the segment growth further during the estimated period.

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Some of the prominent players in the North America Digital Health market include:

• Cerner Corp.
• Allscripts
• Apple, Inc
• Telefonica S.A.
• McKesson Corp.
• Epic Systems Corp.
• QSI Management, LLC
• AT&T
• Vodafone Group
• Airstrip Technologies
• Google, Inc.
• Samsung Electronics Co. Ltd.
• Hims
• Orange
• Softserve
• Qualcomm Technologies, Inc.
• MQure
• Computer Programs and Systems, Inc.
• Vocera Communications
• IBM Corp.
• Cisco Systems Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Technology
  • Tele-healthcare
    • Tele-care
      • Activity Monitoring
      • Remote Medication Management
    • Telehealth
      • LTC Monitoring
      • Video Consultation
  • mHealth
    • Wearables
      • BP Monitors
      • Glucose Meters
      • Pulse Oximeters
      • Sleep Apnea Monitors
      • Neurological Monitors
      • Activity Trackers/Actigraphs
    • mHealth Apps
      • Medical Apps
      • Fitness Apps
    • Services
      • mHealth Service, By Type
        • Monitoring Services
          • Independent Aging Solutions
          • Chronic Disease Management & Post-Acute Care Services
        • Diagnosis Services
        • Healthcare Systems Strengthening Services
        • Others
      • mHealth Services, By Participants
        • Mobile Operators
        • Device Vendors
        • Content Players
        • Healthcare Providers
  • Healthcare Analytics
  • Digital Health Systems
    • EHR
    • E-Prescribing Systems
• By Component
  • Software
  • Hardware
  • Services

By Geography

North America

• U.S.
• Canada

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Key Questions Answered in North America Digital Health Market Report

• What will be the sales/revenue generated by North America Digital Health across all regions during the forecast period?
• What are the opportunities in the North America Digital Health market?
• What are the major drivers, restraints, opportunities, and threats in the market?
• Which regional market is set to expand at the fastest CAGR during the forecast period?
• Which application is expected to generate the highest revenue U.S. in 2030?
• Which segment is projected to expand at the highest CAGR during the forecast period?
• What is the market position of different companies operating in the U.S. market?

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