The Digital Health Market is projected to reach USD 549.7 billion by 2028 from USD 180.2 billion in 2023, at a CAGR of 25.0% during the forecast period. Digital health adoption is influenced by a wide range of factors. One of the major factors driving the market growth includes technological advancements. Advances in healthcare technology, such as wearable devices, telehealth platforms, electronic health records (EHRs), and mobile apps, make it easier for individuals to monitor their health and interact with healthcare providers. Moreover, improvements in healthcare infrastructure in emerging countries has led to an increase in adoption of digital health technologies thereby facilitating the market growth. On the other hand, data integration and interoperability issue is key factor restraining the market growt at certain extent over the forecast period.

“Software segment is estimated to hold the major share in 2022 in the global digital health market”
On the basis of offering, the digital health market is bifurcated into software, hardware, application and services. The software segment expected to account for the largest market share of the global digital health market in 2022. The development of user-friendly and intuitive interfaces makes it easier for both healthcare providers and patients to navigate and use digital health software. Growing availability of highly efficient software has fostered the segmental growth.

“Telehealthcare technology segment accounted for the largest share of the global digital health market”
On the basis of technology, the digital health market is segmented into mhealth, telehealth, digital therapeutics, healthcare management systems technologies. The telehealthcare segment accounted for the largest share of the global market in 2022. Patients with chronic conditions can receive ongoing care, monitoring, and education through telehealth, improving their management and reducing hospital readmissions. Moreover, improving reimbursement scenario for telehealth technology has increased its demand thereby, positively impacting the segment growth.

“Providers segment expectd to hold the largest share of the market in 2022”
On the basis of end user, the digital health market is divided into providers, payers and consumers and patients segment. In 2022, the providers segment accounted for the largest share of the digital health market. Digital health technologies assist hospitals in managing their resources more effectively, such as managing hospital beds, equipment, and staff schedules. Moreover, hospitals use digital health technologies to provide more patient-centered care, catering to the preferences and needs of individual patients. Aforementioned factors have positively impacted the segment growth.

“North America to dominate the digital health market in 2022”
The global digital health market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America and MEA. In 2022, North America accounted for the largest and the fastest-growing regional market for digital health. Well-developed healthcare infrastructure along with high awareness for digital health technologies such a digital therapeutics and telehealth has facilitated the regional growth.

Breakdown of supply-side primary interviews, by company type, designation, and region:

  • By Supply Side: Tier 1 (31%), Tier 2 (28%), and Tier 3 (41%)
  • By Demand Side: Purchase Managers (45%), Head Of AI, ML, Drud Discovery & Computational Molecular Design (30%), Research Scientists (25%)
  • By Designation: C-level (31%), Director-level (25%), and Others (44%)
  • By Region: North America (45%), Europe (20%), Asia Pacific (28%), and RoW (7%)

Prominent players in this market are Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE HealthCare (US), Abbott (US), OMRON Corporation (Japan), Fitbit, Inc. (A Google Company) (US), Johnson & Johnson Private Limited (US), Siemens Healthineers AG (Germany), Masimo (US), Apple, Inc. (US), Merative (US), AT &T, Inc. (US), Veradigm LLC (US), Noom, Inc. (US), Teladoc Health, Inc. (US), Omada Health Inc. (US), Dexcom, Inc. (US), Biotricity (US), iHealth Labs Inc (US), my mhealth Limited (UK), athenahealth (US), eClinicalWorks (US), AirStrip Technologies, Inc (US), AdvancedMD, Inc. (US) and Qardio, Inc. (US). Players adopted organic as well as inorganic growth strategies such as product upgrades, collaborations, agreements, partnerships, and acquisitions to increase their offerings, cater to the unmet needs of customers, increase their profitability, and expand their presence in the global market.

Research Coverage

  • The report studies the digital health market based on offering, technology, application, end user, and region
  • The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth
  • The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders
  • The report studies micro-markets with respect to their growth trends, prospects, and contributions to the total AI in drug discovery market
  • The report forecasts the revenue of market segments with respect to five major regions

Reasons To Buy the Report
The report can help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share. Firms purchasing the report could use one or a combination of the below-mentioned five strategies.

This report provides insights into the following pointers:

  • Analysis of key drivers (increasing penetration of mobile phones, supporting government initiatives and rising geriatric population and chronic diseases), restraints (privacy and security concerns, interoperability challenges), opportunities (intelligent digital health solutions for universal access, improving regulatory scenario, rising awareness and adoption trends in emerging countries), and challenges (healthcare gaps in emerging economeis) influencing the growth of digital health market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and product launches in the digital health market.
  • Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various types of digital health solutions across regions.
  • Market Diversification: Exhaustive information about products, untapped regions, recent developments, and investments in the digital health market.
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of the leading players in the digital health market.