Report

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Global Digital Health Market by Component (Software, Hardware, Services), Technology (Telehealthcare, Telehealth, Video Consultation, LTC Monitoring, Telecare, Remote Medication Management, Activity Monitoring, mHealth, Apps, Wearables, Digital Health Systems, E-prescribing Systems, Electronic Health Records, Health Analytics) and Region - Global Forecast to 2028

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The digital health market is projected to grow at a CAGR of 16.5%, with estimated market size of USD 194.1 billion in 2021 and USD 485.3 billion by 2028. Rapid digitalization adoption in health services significantly drives market revenue. Big data analysis, the Internet of Things (IoT), artificial intelligence (AI), increased health spending by governments globally, the quick acceptance of digitalization in health services, and a surge in new startups are all factors influencing the market's revenue growth. Furthermore, digital health technologies, which drive the market's revenue growth, can also be used by patients and consumers to manage and monitor their wellness- and health-related routines. However, the market's capacity to expand in revenue is constrained by issues including data breaches of electronic health records (EHR), a slow acceptance of digitalization, and insufficient internet access in developing countries.

Digital Health Market Overview

Digital Health Market Dynamics

Drivers: Technological advancements in healthcare

Rapid advancements in healthcare IT, such as cloud-based storage systems, as well as the widespread use of laptops, smartphones, and tablets by hospitals and healthcare professionals, are the main reasons propelling the expansion of the digital health sector. Electronic health records (EHR), remote monitoring sensors, and wearable technology have all been made more widely available by rising healthcare IT innovations and regulations that support them. This has fueled the market's expansion.

Restraints: High cost of devices & data breach concerns

Innovation, technologically advanced equipment, and high capital costs will restrain market expansion. In the upcoming years, growing data security issues such as cyberattacks and illegal access to information technology (IT) systems may restrain the expansion of the digital health industry. Furthermore, significant impediments to the market share of digital health may exist due to the general unwillingness of the populace in emerging countries to use healthcare technology.

Opportunities: Initiatives by government organizations and an increase in venture capitalist investment in startups

Government organizations and healthcare community initiatives will boost the market to raise awareness of digital health use and make it easier for the government to adopt various healthcare IT solutions. The market will develop even more if venture money and funds from healthcare providers are raised for startups that offer these services.

Services component is estimated to be the largest growing market category during the forecast period

The growth is attributed to the demand for various services, including installation, training, personnel, maintenance, and other similar services. Market participants offer these services either singly or as part of bundles. The demand for more sophisticated software platforms and solutions, such as electronic medical records, as well as the rising cost of the upgrades and training needed to use these software solutions, is boosting the services market. Digital health services are provided by large corporations like Amazon.com, Inc., Infosys Limited, and others. For instance, in 2019, Amazon Care was launched as part of Amazon.com, Inc.'s nationwide expansion of its in-person healthcare model and commitment to offering clients the highest quality patient-centered healthcare. This is because many businesses are looking for cost-effective, all-encompassing, and high-quality healthcare solutions.

Telehealthcare technology is estimated to be the largest growing market category during the forecast period

Revenue from the telehealthcare category is anticipated to make up the largest portion during the forecasted period. Telemedicine has significantly improved the quality of care in undeveloped areas by using tablets and smartphones to diagnose and treat patients remotely. The ability to diagnose patients in their homes is another benefit of telemedicine for specialized practitioners. During the pandemic, telemedicine usage rose from 21% of survey respondents to 44%, indicating that consumers favored online healthcare. Globally, various telemedicine services provide healthcare management and delivery, illness screening, and other services, including store-and-forward, real-time and remote, or self-monitoring.

North American segment is estimated to be the largest growing market during the forecast period

North America is estimated to be the largest digital health market and is projected to grow at the highest CAGR during the forecast period due to several factors, such as the rising demand for telehealth services in the digital health market, the increased adoption of the internet and compatible devices throughout the region, and the rising demand from the rural healthcare industry as telehealth services offer remote patient monitoring (RPM), store and forward transmission of medical information, and mobile health communication.



Additionally, healthcare organizations' quick adoption of EHR, increased government initiatives and support, and rising private sector expenditures in developing digital health solutions in the region are propelling market revenue growth. Statistics show that as of 2019, 96% of non-federal acute care hospitals and about 72% of doctors who practice in offices had certified EHRs. According to statistics, as of 2019, 72% of doctors who practice in offices and 96% of non-federal acute care hospitals had certified EHRs. Healthcare organizations were given financial incentives to embrace health information technologies under the Health Information Technology for Economic and Clinical Health (HITECH) Act. Major corporations are also investing in sophisticated health wearables, mobile applications, and technologies using cutting-edge technologies like big data and cognitive IoT, including Apple Inc., Google LLC, International Business Machines Corporation, Samsung Electronics Co., Ltd., HealthTap, Inc., and numerous other startups.
 
Key Market Players

The digital health market is dominated by a few global players and comprises several regional players. Some key manufacturers operating in the market are BioTelemetry Inc, eClinicalWorks, Allscripts Healthcare Solutions Inc, iHealth Lab Inc, AT & T, Honeywell International Inc, Athenahealth Inc., Cisco Systems, McKesson Corporation, Koninklijke Philips N.V., AdvancedMD Inc. and Cerner Corporation.

Recent Developments
  • In May 2022, launched by NXGN Management, LLC, NextGen Health Data Hub Insights. It is a data warehouse and bespoke analytics solution to expedite data access, analytics, and report generation for Health Information Exchanges (HIEs) and healthcare providers across the United States.
  • In September 2021, the usage of RPM was announced by the UMMC (University of Mississippi Medical Clinic) in association with the North Mississippi Primary Health Care Center, which is federally approved. The objective was to improve patient health outcomes and promote patient access to diabetes care management.
  • In July 2021, to improve the care of patients and quicken clinical trials, Koninklijke Philips N.V. and Cognizant announced a collaboration to create comprehensive digital health solutions.
  • In January 2019, ResMed and Cerner Corporation worked together. This partnership enhanced the link between healthcare systems and home care by connecting the Brightree Home Health and Hospice platform with Cerner's Millennium EHR.
Segmentation of Global Digital Health Market :

Global Digital Health Market – By Component
  • Software
  • Hardware
  • Services
 Global Digital Health Market – By Technology
  • Telehealthcare
  • Telehealth
  • Video Consultation
  • LTC Monitoring
  • Telecare
  • Remote Medication Management
  • Activity Monitoring
  • mHealth
  • Apps
  • Wearables
  • Digital Health Systems
  • E-prescribing Systems
  • Electronic Health Records
  • Health Analytics
Global Digital Health Market – By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa
Chapter 1       Preface
 
1.1       Report Scope and Description
            1.1.1    Study Purpose
            1.1.2    Target Audience
            1.1.3    USP and Key Offerings
1.2       Research Scope
1.3       Research Methodology
            1.3.1    Phase I – Secondary Research
            1.3.2    Phase II – Primary Research
            1.3.3    Approach Adopted
            1.3.4    Top-Down Approach
            1.3.5    Bottom-Up Approach
            1.3.6    Phase III – Expert Panel Review
            1.3.7    Assumptions
1.4       Market Segmentation
 
Chapter 2       Report Summary
 
2.1       Market Snapshot: Global Digital Health Market
            2.1.1    Global Digital Health Market, by Component, 2021 (US$ Mn)
            2.1.2    Global Digital Health Market, by Technology, 2021 (US$ Mn)
            2.1.3  Global Digital Health Market, by Geography, 2021 (US$ Mn)
 
Chapter 3       Market Dynamics
 
3.1       Introduction
3.2       Market Dynamics
            3.2.1    Market Drivers
            3.2.2    Market Restraint
            3.2.3    Market Opportunities
            3.2.4    Market Challenges
3.3       Attractive Investment Proposition, by Geography, 2021
3.4       Competitive Landscape
            3.4.1    Market Positioning of Key Digital Health Manufacturers, 2021
            3.4.2    Digital Health Manufacturers, Revenue 2019-2021 (USD Million)
            3.4.3    Strategic Developments
                        3.4.3.1 Mergers and Acquisitions
                        3.4.3.2 Product Launches
                        3.4.3.3 Partnerships and Collaborations
                        3.4.3.4 Others
 
Chapter 4       Global Digital Health Market, by Component
 
4.1       Overview
            4.1.1    Global Digital Health Market Value Share, by Component, 2021 & 2028 (Value, %)
4.2       Hardware
            4.2.1    Global Hardware Market Value, 2018 – 2028 (US$ Mn) (Kilo Tons)
4.3       Software
            4.3.1    Global Software Market Value, 2018 – 2028 (US$ Mn) (Kilo Tons)
4.4       Services
            4.4.1    Global Services Market Value, 2018 – 2028 (US$ Mn) (Kilo Tons)
 
Chapter 5       Global Digital Health Market, by Technology
 
5.1       Overview
            5.1.1    Global Digital Health Market Value Share, by Technology, 2021 & 2028 (Value, %)
5.2       Telehealthcare
            5.2.1    Global Digital Health Market Value from Telehealthcare, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.3       Telehealth
            5.3.1    Global Digital Health Market Value from Telehealth, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.4       Video Consultation
            5.4.1    Global Digital Health Market Value from Video Consultation, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.5       LTC Monitoring
            5.5.1    Global Digital Health Market Value from LTC Monitoring, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.6       Telecare
            5.6.1    Global Digital Health Market Value from Telecare, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.7       Remote Medication Management
            5.7.1    Global Digital Health Market Value from Remote Medication Management, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.8       Activity Monitoring
            5.8.1    Global Digital Health Market Value from Activity Monitoring, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.9       mHealth
            5.9.1    Global Digital Health Market Value from mHealth, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.10       Apps
            5.10.1    Global Digital Health Market Value from Apps, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.11       Wearables
            5.11.1    Global Digital Health Market Value from Wearables, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.12       Digital Health Systems
            5.12.1    Global Digital Health Market Value from Digital Health Systems, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.13       E-prescribing Systems
            5.13.1    Global Digital Health Market Value from E-prescribing Systems, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.14       Electronic Health Records
            5.14.1    Global Digital Health Market Value from Electronic Health Records, 2018 – 2028 (US$ Mn) (Kilo Tons)
5.15       Health Analytics
            5.15.1    Global Digital Health Market Value from Health Analytics, 2018 – 2028 (US$ Mn) (Kilo Tons)
 
Chapter 6       North America Digital Health Market Analysis, 2018 – 2028
 
6.1       Overview
6.2       North America Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn) (Kilo Tons)
6.3       North America Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn) (Kilo Tons)
6.4       North America Digital Health Market Analysis, by Country, 2018 – 2028 (US$ Mn) (Kilo Tons)
            6.4.1    US
                        6.4.1.1 US Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        6.4.1.2 US Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            6.4.2    Canada
                        6.4.2.1 Canada Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        6.4.2.2 Canada Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
 
Chapter 7       Europe Digital Health Market Analysis, 2018 – 2028
 
7.1       Overview
7.2       Europe Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn) (Kilo Tons)
7.3       Europe Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn) (Kilo Tons)
7.4       Europe Digital Health Market Analysis, by Country, 2018 – 2028 (US$ Mn) (Kilo Tons)
            7.4.1    Germany
                        7.4.1.1 Germany Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        7.4.1.2 Germany Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            7.4.2    France
                        7.4.2.1 France Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        7.4.2.2 France Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            7.4.3    UK
                        7.4.3.1 UK Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        7.4.3.2 UK Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            7.4.4    Italy
                        7.4.4.1 Italy Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        7.4.4.2 Italy Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            7.4.5    Spain
                        7.4.5.1 Spain Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        7.4.5.2 Spain Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            7.4.6    Rest of Europe
                        7.4.6.1 Rest of Europe Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        7.4.6.2 Rest of Europe Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
 
Chapter 8       Asia Pacific Digital Health Market Analysis, 2018 – 2028
 
8.1       Overview
8.2       Asia Pacific Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn) (Kilo Tons)
8.3       Asia Pacific Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn) (Kilo Tons)
8.4       Asia Pacific Digital Health Market Analysis, by Country, 2018 – 2028 (US$ Mn) (Kilo Tons)
            8.4.1    China
                        8.4.1.1 China Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        8.4.1.2 China Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            8.4.2    Japan
                        8.4.2.1 Japan Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        8.4.2.2 Japan Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            8.4.3    INDIA
                        8.4.3.1 INDIA Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        8.4.3.2 INDIA Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            8.4.4    South Korea
                        8.4.4.1 South Korea Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        8.4.4.2 South Korea Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            8.4.5    South East Asia
                        8.4.5.1 South East Asia Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        8.4.5.2 South East Asia Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            8.4.6    Rest of Asia Pacific
                        8.4.6.1 Rest of Asia Pacific Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        8.4.6.2 Rest of Asia Pacific Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
 
Chapter 9       Latin America Digital Health Market Analysis, 2018 – 2028
 
9.1       Overview
9.2       Latin America Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn) (Kilo Tons)
9.3       Latin America Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn) (Kilo Tons)
9.4       Latin America Digital Health Market Analysis, by Country, 2018 – 2028 (US$ Mn) (Kilo Tons)
            9.4.1    Brazil
                        9.4.1.1 Brazil Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        9.4.1.2 Brazil Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            9.4.2    Mexico
                        9.4.2.1 Mexico Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        9.4.2.2 Mexico Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            9.4.3    Rest of Latin America
                        9.4.3.1 Rest of Latin America Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        9.4.3.2 Rest of Latin America Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
 
Chapter 10     Middle East and Africa Digital Health Market Analysis, 2018 – 2028
 
10.1     Overview
10.2     Middle East and Africa Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn) (Kilo Tons)
10.3     Middle East and Africa Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn) (Kilo Tons)
10.4     Middle East and Africa Digital Health Market Analysis, by Country, 2018 – 2028 (US$ Mn) (Kilo Tons)
            10.4.1  UAE
                        10.4.1.1           UAE Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        10.4.1.2           UAE Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            10.4.2  South Africa
                        10.4.2.1           South Africa Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        10.4.2.2           South Africa Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
            10.4.3  Rest of Middle East and Africa
                        10.4.3.1           Rest of Middle East and Africa Digital Health Market Analysis, by Component, 2018 – 2028 (US$ Mn)
                        10.4.3.2           Rest of Middle East and Africa Digital Health Market Analysis, by Technology, 2018 – 2028 (US$ Mn)
 
Chapter 11     Company Profiles
 
11.1     BioTelemetry Inc
            11.1.1  Company Overview
            11.1.2  Business Overview
            11.1.3  Financial Overview
            11.1.4  Product Portfolio
            11.1.5  Segment Performance
            11.1.6  Recent Developments
11.2     eClinicalWorks
11.3     Allscripts Healthcare Solutions Inc
11.4     iHealth Lab Inc
11.5     AT & T
11.6     Honeywell International Inc
11.7     Athenahealth Inc.
11.8     Cisco Systems
11.9     McKesson Corporation
11.10    Koninklijke Philips N.V. 
11.11    AdvancedMD Inc.
11.12    Cerner Corporation.
No Methodology
No Available