The global digital health market size was valued at $145,884.3 million in 2022, and is projected to reach $767,718.9 million by 2032, registering a CAGR of 17.9% from 2023 to 2032.
Digital health is defined as the use of information and communication technologies in the healthcare sector for the management of chronic disease from remote areas. The digital health market includes mobile health (mHealth), wearable devices, telehealth & telemedicine, health information technology (IT), and personalized medicine. It offers various services, which enable consumers for early diagnosis of life-threatening disease and for the management of chronic disease.
Digital Health Market Segmentation
The digital health market is segmented on the basis of product & service, component, end user, and region. By product & service, the market is categorized into mHealth and eHealth. The mHealth segment is further classified into mHealth devices and mHealth services.
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The mHealth devices segment is further divided into blood glucose meter, BP monitors, pulse oximetry, neurological monitors, cardiac monitors, apnea & sleep monitors, wearable fitness sensor device & heart rate meters, and others. Further, the mHealth services segment is classified into prevention services, diagnostic services, monitoring services, treatment services, and wellness & healthcare system strengthening solutions. The eHealth segment is classified into electronic health records (EHR), vendor neutral archive (VNA) and picture archiving & communications system (PACS), laboratory information systems (LIS), telehealth, prescribing solutions, medical apps, clinical decision support systems (CDSS), pharmacy information systems, and others.
Depending on product & service, the eHealth segment dominated the market in 2022, and is expected to continue this trend during the forecast period, owing to increase in prevalence of chronic diseases, surge in demand for telehealth & telemedicine, and increase in number of internet users. However, the mHealth segment is expected to witness considerable market growth during the forecast period, owing to increase in demand for remote monitoring services, rise in prevalence of hypertension, and surge in number of smartphone users.
On the basis of component, the software segment dominated the market in 2022, and is expected to continue this trend during the forecast period, owing to advancement in healthcare information technology, surge in demand for reducing healthcare cost, and rise in demand for organized data and workflow in the healthcare sector. However, the hardware segment is expected to witness considerable growth during the forecast period, owing to surge in number of investments in digital infrastructure and increase in demand for software upgrade and installation.
Key players operating in the global digital health market include Allscripts Healthcare Solution, Inc., Cerner Corporation, Cisco systems, eCLINICALWORKS, General Electric company, Koninklijke Philips N.V., Honeywell International Inc., Mckesson Corporation, Siemans Healthcare AG, and Qualcomm technologies, Inc.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the digital health market, and the current trends and future estimations to elucidate imminent investment pockets.
- It presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing digital health market opportunities.
- Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
- Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the digital health market.
Segments Covered in the Report:
By Product & Service
- mHealth Devices
- Blood Glucose Meter
- BP Monitors
- Pulse Oximetry
- Neurological Monitors
- Cardiac Monitors
- Apnea & Sleep Monitors
- Wearable Fitness Sensor Devices & Heart Rate Meters
- mHealth Services
- Prevention Services
- Diagnostic Services
- Monitoring Services
- Treatment Services
- Wellness & Healthcare System Strengthening Solutions
- Vendor Neutral Archive (VNA) and Picture Archiving & Communications Systems (PACS)
- Electronic Health Records (EHR
- Laboratory Information Systems (LIS)
- Prescribing Solutions
- Medical Apps
- Clinical Decision Support Systems (CDSS)
- Pharmacy Information Systems
By End User
- Healthcare Providers
- Healthcare Consumers
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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