Digital Health Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

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Digital Health Market: By Technology (Tele Healthcare, mHealth, Healthcare Analytics, and Digital Health Systems), By Component (Hardware, Software, and Services), and Geography

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Report

Description

The digital health market is valued at approximately USD 220.9 Billion in 2021 and is predicted to exceed a significant CAGR of 16.3% between 2022 and 2028. The global digital health market is increasing due to increased demand for remote monitoring services, increased funding from private and government organizations for mHealth start-ups, an increase in chronic disease prevalence, and an increase in healthcare technology. For example, the American Telemedicine Association (ATM) collaborated with a UK-based digital health company to launch a new resource for evaluating mHealth apps. The increased awareness among people regarding various prominent diseases prevalent in their regions is the vital driver that fuels the growth of this market. The widening use of smartphones and other mobile applications will drive the development of the digital health market. In recent years, growing wearable technology, demand for telemedicine, and increasing awareness of VR and AI have created an opportunity for the digital health market. In the digital health market, the mHealth segment is expected to contribute the highest revenue share. In 2021, the mHealth segment was valued at USD 47.0 Bn. The segment was growing at a prominent growth rate over the forecast years due to increased smartphone penetration and high internet usage, an increase in demand for remote monitoring services, and a rise in the prevalence of hypertension. mHealth technology is viewed as the solution to improve healthcare cost-efficiency.

Recent Market Developments:

In April 2022, Qualcomm Incorporated announced it has completed its acquisition of Arriver™ from SSW Partners, enhancing Qualcomm Technologies ability to deliver open, fully integrated, and competitive Advanced Driver Assistance System (ADAS) solutions to automakers and Tier-1 suppliers at scale.

In February 2021, Philips announced that it has completed the acquisition of BioTelemetry, Inc., a leading U.S.-based provider of remote cardiac diagnostics and monitoring. This acquisition strategy is expected to help Phillips expand their business portfolio in the market as well as customer base.

Digital Health Market

MARKET SUMMARY
-
16.3% CAGR
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 16.3%
  • Largest Market– Asia-Pacific
  • Fastest Growing Market– North America

Digital Health Market

  • The digital health market report gives comprehensive outlook across the region with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  • The digital health market is segmented based on technology, component, and geography.
Key Players
  • Telefonica S.A.
  • Orange Health Digital.
  • Cerner Corporation.
  • McKesson Corporation
  • Qualcomm Technologies, Inc.
Digital Health Market

Dynamics

The global digital health market is mainly driven by increasing demand for home healthcare services, government initiatives, adoption of integrated systems. Security concerns regarding patient data and high capital expenditure and maintenance requirements will hamper the market growth.


North-America Got Significant Share

Digital Health Market

North America accounted for a significant share of the digital health market in 2021, owing to an increase in chronic disease prevalence, advancements in healthcare information technology in the region, the presence of key players, and smartphone user adoption. In addition, Asia-Pacific will be the second-largest shareholder owing to an increase in the prevalence of chronic diseases, a significant rise in the aging population, demand for remote monitoring services, and a rise in the number of internet users.

Latin America
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East

Key

Features of the Report

  • The digital health market report provides granular level information about the market size, regional market share, historic market (2017-2021) and forecast (2022-2028)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Digital Health Market Segmentation


Location

GEOGRAPHY

Frequently Asked Questions

The digital health market is projected to expand at a CAGR of 16.3% during the forecast period.

North America is the fastest-growing region for digital health market

Telefonica S.A., Orange Health Digital., Cerner Corporation., McKesson Corporation, Qualcomm Technologies, Inc.


Report

Company Profile

  • TELUS.
  • Apple Inc.
  • Telefonica S.A.
  • Vodafone Group.
  • Cerner Corporation.
  • Orange Health Digital.
  • McKesson Corporation
  • Koninklijke Philips N.V.
  • Allscripts Healthcare, LLC
  • Qualcomm Technologies, Inc.

Description

The digital health market is valued at approximately USD 220.9 Billion in 2021 and is predicted to exceed a significant CAGR of 16.3% between 2022 and 2028. The global digital health market is increasing due to increased demand for remote monitoring services, increased funding from private and government organizations for mHealth start-ups, an increase in chronic disease prevalence, and an increase in healthcare technology. For example, the American Telemedicine Association (ATM) collaborated with a UK-based digital health company to launch a new resource for evaluating mHealth apps. The increased awareness among people regarding various prominent diseases prevalent in their regions is the vital driver that fuels the growth of this market. The widening use of smartphones and other mobile applications will drive the development of the digital health market. In recent years, growing wearable technology, demand for telemedicine, and increasing awareness of VR and AI have created an opportunity for the digital health market. In the digital health market, the mHealth segment is expected to contribute the highest revenue share. In 2021, the mHealth segment was valued at USD 47.0 Bn. The segment was growing at a prominent growth rate over the forecast years due to increased smartphone penetration and high internet usage, an increase in demand for remote monitoring services, and a rise in the prevalence of hypertension. mHealth technology is viewed as the solution to improve healthcare cost-efficiency.

Recent Market Developments:

In April 2022, Qualcomm Incorporated announced it has completed its acquisition of Arriver™ from SSW Partners, enhancing Qualcomm Technologies ability to deliver open, fully integrated, and competitive Advanced Driver Assistance System (ADAS) solutions to automakers and Tier-1 suppliers at scale.

In February 2021, Philips announced that it has completed the acquisition of BioTelemetry, Inc., a leading U.S.-based provider of remote cardiac diagnostics and monitoring. This acquisition strategy is expected to help Phillips expand their business portfolio in the market as well as customer base.

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