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The global digital health market is expected to grow from USD 159.75 billion in 2021 to USD 1033.18 billion by 2030, at a CAGR of 23.05% during the forecast period 2022-2030.
The high adoption of advanced technologies for women’s digital health is anticipated to expand the demand for the digital health industry during the projection period. Moreover, the rising innovations, rapid investment in the healthcare IT infrastructure, particularly in the developed and developing nations, and growing incidence of chronic diseases are also helping to propel market growth. However, a lack of awareness about women’s mental & physical health and data privacy & security issues are restraining market growth. Furthermore, the increasing proliferation of digital health technologies is also expected to provide opportunities for market growth.
Competitive Strategy
To enhance their market position in the global digital health market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market Growth & Trends
The growth of the digital health market is driven by the increasing demand for mobile health apps, the growing need for remote patient monitoring services, and the rising usage of smartphones & tablets. Moreover, the ever-increasing adoption of the internet of things, artificial intelligence, and big data analytics is the market growth trend. Artificial intelligence can act as a clinical decision-support device and can work along with human interference to provide better care with raised efficiency. In addition, the rapid advancements in healthcare IT infrastructure & the adoption of cloud-based storage systems by professionals propel market growth. Further, the vast governmental support and the execution of favorable policies to promote the adoption of digital health solutions are helping to boost the market growth. Apart from this, an increasing trend in preventative healthcare, combined with increased investment for different mHealth firms, is also helping to drive market growth during the forecast period.
Key Findings
The component segment is divided into hardware, software, and services. In 2021, the software segment dominated the market with the largest market share of 39.14% and market revenue of 62.52 billion. This growth is attributed to the growing demand for digital health solutions.
The technology segment is divided into telehealthcare, mhealth, digital health systems, and healthcare analytics. In 2021, the mhealth segment dominated the market with the largest market share of 34.16% and market revenue of 54.57 billion. This growth is attributed to the rising focus on improving personal health and fitness using smart devices and wearables.
The delivery mode segment is divided into cloud-based and on-premise. In 2021, the cloud-based segment dominated the market with the largest market share of 57.21% and market revenue of 51.39 billion. This growth is attributed to the better storage, scalability, and flexibility of data offered by cloud computing.
The end-user segment is divided into healthcare payers, healthcare providers, and pharmaceutical companies. In 2021, the healthcare providers segment dominated the market with the largest market share of 38.27% and market revenue of 61.13 billion. This growth is attributed to innovations in technologies in health care sectors.
Regional Segment Analysis of the Digital Health Market:
The North America region occurred as the largest market for the global digital health industry, with a market share of 45.37% and a market value of around 72.47 billion in 2021. North America dominates the digital health market due to the swift adoption of smart mobiles and developments in coverage network systems. Moreover, the presence of major vital participants and venture capitalist investments in digital health is also helping to drive the region's market growth. Further, the Asia Pacific region is expected to show the fastest CAGR of 25.04% over the projection period. This growth is attributed to the increasing demand for healthcare analytics. In addition, growing smartphone adoption, favorable government initiatives to support advancements in healthcare IT, and the growing adoption of mHealth services propel market growth in this region.
Key players operating in the global digital health market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global digital health market based on below mentioned segments:
Global Digital Health Market by Component:
Global Digital Health Market by Technology:
Global Digital Health Market by Delivery Mode:
Global Digital Health Market by End-User:
About the report:
The global digital health market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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