23-Jan-2023 | Facts and Factors
According to Facts and Factors, the global digital health market size was worth around USD 195.1 billion in 2021 and is predicted to grow to around USD 780.05 billion by 2030 with a compound annual growth rate (CAGR) of roughly 16.1% between 2022 and 2030.
Digital health is sometimes referred to as digital healthcare and it is the amalgamation of healthcare and technology. It is a multidisciplinary and broad concept that brings together two main segments of the modern world that is medicine and technological science under one roof.
Browse the full “Digital Health Market Size, Share, Growth Analysis Report By Component (Services, Software, and Hardware), By Technology (Digital Health Systems, Healthcare analytics, Tele-Healthcare, and mHealth), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" report at https://www.fnfresearch.com/digital-health-market
Digital health incorporated the use of digital technology to transform the healthcare segment by making use of software programs, hardware systems, and associated or supportive services. It is inclusive of mobile health also called mHealth applications along with electronic medical records (EMRs), telehealth, electronic health records (EHRs), and telemedicine.
A large part of it is catering to the growing demand for personalized medical care. Several stakeholders are a part of digital health and include medical practitioners, patients, application developers, researchers, distributors, and manufacturers of smart devices. Digital health is an important segment of modern healthcare infrastructure.
The global digital health market is projected to grow owing to the increasing technological developments in devices used to maintain digital health records as well as the enhancing quality of associated services provided to the several stakeholders in the global market. The modern-age digital health systems are making use of advanced technologies like artificial intelligence, interoperable data, and machine learning, along with secure open platforms that are the center of technological growth in digital health systems and software. Advancements in big data & machine learning and the growing incorporation of these techniques in producing higher-grade digital health devices could change the way the global market functions in the coming years.
Factors like increasing producer and services awareness along with growing efforts by international health institutes and government agencies to encourage digital health in the national healthcare infrastructure could further drive the global market revenue generation. For instance, the 2021 announcement by the French government for an investment of USD 650 million toward the expansion of the country’s digital healthcare program is a recent example showcasing the seriousness governments have shown for digital health.
The dwindling number of healthcare professionals in the global medical community could be a matter of major concern in the global market. As the population is growing at an exponential rate, the demand for quality medical professionals is on the rise. However, there is a significant gap between the required number of medical professionals and the actual number present in the healthcare sector. The World Health Organization (WHO) claims that there may be a shortage of almost 15 million medical personnel by the end of 2030.
The growing awareness may provide growth opportunities whereas the adoption of new technology could act as a major challenge.
Segmental Overview
The global digital health market is segmented based on component, technology, and region
Based on components, the global market segments are services, software, and hardware. The global market registered the highest growth in the services segment in 2021 with around 45% of the segmental market share attributed to growing investments in staffing, training, maintenance, and installation of digital health.
As the technology keeps growing with constant changes including additions of new features and removal or upgrading of older features, the demand for installation and training is on the rise. Most of the device providers manage an internal team that is solely responsible for the after-sale services since it is important for future growth.
Based on technology, the global market is divided into digital health systems, healthcare analytics, tele-healthcare, and mhealth. The global market registered the highest growth in the tele-healthcare segment which regenerated around 41.56% of the segmental revenue. The growing demand for managing and monitoring healthcare data along with other factors like population management in real-time and secure storage of healthcare-related information is leading the demand for tele-healthcare. The segment may register a high CAGR due to the growing remote patient care trend which comes along with its own sets of benefits in managing chronic conditions like cardiovascular diseases or diabetes.
Regional Overview
North America is projected to lead the global digital health market with the US generating the highest regional market revenue. The country is home to some of the biggest manufacturers of digital health software and hardware. They also provide exceptional post-purchase or post-installation services. Since the devices are manufactured by domestic companies, the price at which the product is offered is relatively low compared to the selling price in the international market. This encouraged the local population to adopt the systems or devices since they are affordable.
The US and Canadian population is investing in gaining more control over their health and hence the demand for digital health is reaching new heights with every growth. Growth in Asia-Pacific may be driven by the increasing number of local players offering quality products and services to its growing population and the subsequently increasing number of patients.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 195.1 Billion |
Projected Market Size in 2030 |
USD 780.05 Billion |
CAGR Growth Rate |
16.1% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2030 |
Key Market Players |
Allscripts, Cerner Corporation (Oracle), AirStrip Technologies, Mckesson Corporation, Vodafone Group, Apple Inc., Samsung Electronics Co. Ltd., Epic Systems Corporation, and others. |
Key Segment |
By Component, Technology, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
Purchase Options |
Request customized purchase options to meet your research needs. Explore purchase options |
Competitive Analysis
The global digital health market is led by players like Allscripts, Cerner Corporation (Oracle), AirStrip Technologies, Mckesson Corporation, Vodafone Group, Apple, Inc., Samsung Electronics Co., Ltd., and Epic Systems Corporation amongst many others.
Recent Developments:
The global digital health market is segmented as follows:
By Component
By Technology
By Region
About Us:
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Contact Us:
Facts & Factors
A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1 (347) 690-0211
Email: [email protected]
Web: https://www.fnfresearch.com
[231+ Pages Report] According to the report published by Facts Factors, the global pet supplement market size was worth around USD 1.91 billion in 2022 and is predicted to grow to around USD 3.12 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.91% between 2023 and 2030. The r
Published Date : 31-Mar-2023 | | Category : Animal Feed and Feed Additives | Pages : 231 | Format : Read more
Inquiry for Buying Request Sample
[229+ Pages Report] According to the report published by Facts Factors, the global carpets and rugs market size was worth around USD 82.15 billion in 2022 and is predicted to grow to around USD 126.21 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.51% between 2023 and 2030.
Published Date : 29-Mar-2023 | | Category : Smart Textiles | Pages : 229 | Format : Read more
Inquiry for Buying Request Sample
[228+ Pages Report] According to the report published by Facts Factors, the global refurbished and used mobile phones market size was worth around USD 64.15 billion in 2022 and is predicted to grow to around USD 152.86 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.46% betw
Published Date : 28-Mar-2023 | | Category : Electronics and Telecommunication | Pages : 228 | Format : Read more
Inquiry for Buying Request Sample
[236+ Pages Report] According to the report published by Facts Factors, the global xylitol market size was worth around USD 0.69 billion in 2022 and is predicted to grow to around USD 1.1 billion by 2030 with a compound annual growth rate (CAGR) of roughly 4.31% between 2023 and 2030. The report an
Published Date : 28-Mar-2023 | | Category : Food & Beverages | Pages : 236 | Format : Read more
Inquiry for Buying Request Sample
[227+ Pages Report] According to the report published by Facts Factors, the global electric blankets market size was worth around USD 1.03 billion in 2022 and is predicted to grow to around USD 1.89 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.71% between 2023 and 2030. Th
Published Date : 27-Mar-2023 | | Category : Consumer Goods | Pages : 227 | Format : Read more
Inquiry for Buying Request Sampleto ensure high-level data integrity, accurate analysis, and impeccable forecasts
for complete satisfaction
on-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
A faster and efficient way to cater to the needs with continuous iteration
Copyright © 2022 - 2023, All Rights Reserved, Facts and Factors
Glyphicons