Digital Health Market Synopsis

Digital Health Market Size Was Valued at USD 240.2 Billion in 2023, and is Projected to Reach USD 1,365.6 Billion by 2032, Growing at a CAGR of 21.3% From 2024-2032.

The term digital health can be defined as the use of technology that enables a smartphone, a wearable, or an electronic health record in enhancement of delivery of health, the engagement of a patient as well as the health of a population. Digital health involves care programs, which are the integration of digital technologies into the domain of health, medical practice, life, and society to enhance the delivery of care to achieve enhanced efficiency in the delivery of healthcare hence making medicine more selective and accurate. Digital health is now a trending term considering the increase in the use of digital health solutions like telehealth software, mobile health, and other wireless solutions in hospitals and nursing homes to increase the availability of timely healthcare services to patients.

• Telehealth/telemedicine services allow doctors to access more patient while enhancing access to health care and cutting providers’ expenses. They do not have to go long distances to seek treatment, hence, they can embrace the telehealth technology and also participate in the growth of this market.
• Primarily, the IoT or the ‘Internet of Things’ is a very useful healthcare platform, which plays a significant role including backup and powerful analysis of data, reliable mobile connection, and the modern wearable devices, which are supported with big data ability to power a personalized digital environment.
• Due to new devices and apps, the application of the mobile application for healthcare initiatives is projected to significantly rise in the coming years because of enhanced Internet connection and improved concern for health among individuals. Google alone prepared an AI working plan for the healthcare sector in March 2022. Respectively each country has undertaken a variety of steps to ensure adoption of digital technologies in the developing as well as developed countries.
• Because of the increasing healthcare costs and the poor healthcare infrastructure, consumers are steadily assuming the role of healthcare consumers. Thus, a more effective and activist Predict and Prevent Model has been established to find out all causes and stress on preventive actions that can be successful in rendering those down the future. All these changes are advances in technology and pulled by entrepreneurs.
• The general integration of the new model of digital health in the emerging countries promises to help solve several challenges that limit the delivery of healthcare in various ways including; access, cost, quality, safety, and availability. However, many developing countries have encountered sever challenges in availing healthcare services especially in the rural areas because of inadequate structures.
• The increasing statistics of various chronic diseases like diabetes, heart diseases, and cancer, are driving the need for remote monitoring and care. Patients’ interactions with their digital health tools enable them to monitor their health, follow treatments, and engage with caregivers and clinicians.

Digital Health Market Trend Analysis

Growing Demand for Personalized Healthcare Facilities

• The use of digital health technologies is a recent development due to the increasing need for the implementation of special measures and approaches in the healthcare sector that can possibly provide the patients with more personalized treatment. Personalized healthcare is one of the concepts in the delivery of care, which aims at developing distinct care plans for a patient with the help of certain characteristics such as genetic makeup, personal habits, and surroundings. Through making available to the healthcare providers a lot of patient data and providing means for analyzing the data and finding out individual treatments, the current digital technologies like Electronic Health Records (EHRs), Health Information Exchanges (HIEs) and machine learning algorithms exist potential for personalized medicine. This may help doctors intervene early in order to save the patient as the situation might further degrade. Therefore, the market for digital health technologies is progressively opening up across the globe; this is due to people’s increasing desire for a tailored healthcare approach.

Rising Prevalence of Chronic Diseases

• As the number of patients with chronic diseases like diabetes, cardiovascular diseases, and cancer rises, remote monitoring and management solutions, which can be delivered through telehealth services and digital health tools, are becoming more required. For instance, wearables and, mobile applications for remote monitoring help track patients’ health parameters and notify clinicians if these parameters are changing and possibly indicate the onset of a certain disease. Therefore, technologies that can be associated with health technology can explain some of the issues arising from chronic diseases, improve on the patients’ experience as well as the overall reduction on the costs incurred during their treatment.

Digital Health Market Segment Analysis:

Digital Health Market Segmented based on Technology, Component, Application, And End-Use.

By Component, services segment is expected to dominate the market during the forecast period

• Depending on the component, the services segment has been predicted to be the growth factor in the market share till the end of the forecast period as there is a growing demand for installation services, staffing services, training, maintenance, and other services. These services are offered by market players either in a la carte or bundled. The need for the novel software solutions and platforms including Electronic Medical Records (EMRs), EHR solutions, and increased need for upgradation and training essential for managing these software solutions is propelling the segment’s growth. There are different companies’ contributions that cover planning of projects, staffing, carrying out of measures, training, and management of resources and offers before and after installation.
• Among the abovementioned segments, the software segment is expected to have the fastest growth from 2024 to 2030 owing to the increasing uptake of software systems among patients, care facilities and providers, and insurance payers. Increasing costs for health care and the move towards digitalization has affected the rise of the software segment. Increased consumer awareness towards targeted treatment that is offered in the segment, and the shift from volume-based practice to value-based care is crucial for the segment’s growth. The said emerging economy healthcare facilities quickly embrace such progressive software solutions and platforms to manage their facility’s organizational processes and improve their clinical, operational, and financial performance.

By Application, diabetes segment held the largest share in 2023

• Based on applications, the segment which held the largest market size was the diabetes segment in the year 2023. Diabetes as the largest digital health segment is now prevalent across the globe due to it and its complications. Digital health technologies present solutions that are unique for the handling of diabetes patients’ requirements. From the use of mobile applications in managing their blood sugar levels or glucose monitors to wearables that allow the monitoring of an individual’s physical activity, patients diagnosed with diabetes can be assertive in managing this condition. Furthermore, the technologies assist in remote monitoring of diabetic patients because they allow the health care providers to receive regular information concerning the patient’s progress, and make the right decisions on when to intervene to ensure proper management of the disease.
• Obesity segment is the second largest in application because of high global incidence and the increasing demand for efficient weight loss products. The segment is growth driven by the use of digital health technologies that can provide specific approaches from application in dining plans to wearables that oversee activity levels. However, the usage reveals the trend of the further development of corporate health management going beyond the traditional application of the concept of weight control. This comprises of metabolic testing, glucose checking, and other gadgetry including body mapping from Prism Lab, and smart mirror from Spren needed for developing suitable techniques. Currently, Qardio and Rimidi among the remote monitoring companies use smart scales to weigh and collect information for the assessment of risk factors. Combining with medications enlarges its application in classifying proper treatments and managing compliance. Altogether, they contribute to the development of the obesity segment of the DIGITAL HEALTH industry.

Digital Health Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America held the largest revenue share in the market in 2023 due to reasons such as technological innovation, increased spending on the healthcare IT to build structure, government support, entry of new ventures, awareness about using sophisticated technological solutions, availability of opportunities to increase smartphone usage, enhancement of the internet connection, and availability of lucrative funding. Therefore, industry development has been promoted by advancements in coverage networks, constantly growing popularity of smartphones, demographic changes, including an increase in the disabled population and chronic diseases, and a shortage of primary caregivers.

Active Key Players in the Digital Health Market

• Telefónica S.A.
• Epic Systems Corporation
• QSI Management, LLC
• AT&T
• AirStrip Technologies
• Google, Inc.
• Hims & Hers Health, Inc.
• Orange
• Softserve
• Computer Programs and Systems, Inc.
• Vocera Communications
• IBM Corporation
• CISCO Systems, Inc.
• Apple Inc.
• Oracle Cerner
• Veradigm
• Mckesson Corporation
• Hims & Hers Health, Inc.
• Vodafone Group
• Qualcomm Technologies, Inc.
• Samsung Electronics Co., Ltd.
• Other Key Players

Key Industry Developments in the Digital Health Market:

• In April 2023, Microsoft partner with Epic Systems Corporation to incorporate AI in EHR; Health care professionals can enhance their efficiency and communicate with AI solutions.
• In March 2023, BlueRock Therapeutics LP commissioned Emerald Innovations and Rune Labs with a primary focus on innovative technologies related to, contactless & invisible wearable digital health application in monitoring Parkinson’s disease.
• In March 2023, Google announced its Open Health Stack which is an open-source program for development of Health apps Inclusion of strategies which are AI partnerships in field with major concentration on cancer screening
• In March 2023, Nabla Technologies released Copilot, a concept of a digital assistant tool as a Chrome extension which utilizes GPT-3 for doctors; to ensure that patient’s conversations turn into action

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Digital Health Market by Technology
 4.1 Digital Health Market Snapshot and Growth Engine
 4.2 Digital Health Market Overview
 4.3 Digital Health Systems
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Digital Health Systems: Geographic Segmentation Analysis
 4.4 Tele-Healthcare
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Tele-Healthcare: Geographic Segmentation Analysis
 4.5 Mhealth
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Mhealth: Geographic Segmentation Analysis
 4.6 & Healthcare Analytics
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 & Healthcare Analytics: Geographic Segmentation Analysis

Chapter 5: Digital Health Market by Component
 5.1 Digital Health Market Snapshot and Growth Engine
 5.2 Digital Health Market Overview
 5.3 Software
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Software: Geographic Segmentation Analysis
 5.4 Hardware
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Hardware: Geographic Segmentation Analysis
 5.5 & Services
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 & Services: Geographic Segmentation Analysis

Chapter 6: Digital Health Market by Application
 6.1 Digital Health Market Snapshot and Growth Engine
 6.2 Digital Health Market Overview
 6.3 Obesity
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Obesity: Geographic Segmentation Analysis
 6.4 Diabetes
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Diabetes: Geographic Segmentation Analysis
 6.5 Cardiovascular
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Cardiovascular: Geographic Segmentation Analysis
 6.6 Respiratory Diseases
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Respiratory Diseases: Geographic Segmentation Analysis
 6.7 Others
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Others: Geographic Segmentation Analysis

Chapter 7: Digital Health Market by End Use
 7.1 Digital Health Market Snapshot and Growth Engine
 7.2 Digital Health Market Overview
 7.3 Patients
  7.3.1 Introduction and Market Overview
  7.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.3.3 Key Market Trends, Growth Factors and Opportunities
  7.3.4 Patients: Geographic Segmentation Analysis
 7.4 Providers
  7.4.1 Introduction and Market Overview
  7.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.4.3 Key Market Trends, Growth Factors and Opportunities
  7.4.4 Providers: Geographic Segmentation Analysis
 7.5 Payers
  7.5.1 Introduction and Market Overview
  7.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.5.3 Key Market Trends, Growth Factors and Opportunities
  7.5.4 Payers: Geographic Segmentation Analysis
 7.6 Others
  7.6.1 Introduction and Market Overview
  7.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  7.6.3 Key Market Trends, Growth Factors and Opportunities
  7.6.4 Others: Geographic Segmentation Analysis

Chapter 8: Company Profiles and Competitive Analysis
 8.1 Competitive Landscape
  8.1.1 Competitive Benchmarking
  8.1.2 Digital Health Market Share by Manufacturer (2023)
  8.1.3 Industry BCG Matrix
  8.1.4 Heat Map Analysis
  8.1.5 Mergers and Acquisitions
  
 8.2 TELEFÓNICA SA
  8.2.1 Company Overview
  8.2.2 Key Executives
  8.2.3 Company Snapshot
  8.2.4 Role of the Company in the Market
  8.2.5 Sustainability and Social Responsibility
  8.2.6 Operating Business Segments
  8.2.7 Product Portfolio
  8.2.8 Business Performance
  8.2.9 Key Strategic Moves and Recent Developments
  8.2.10 SWOT Analysis
 8.3 EPIC SYSTEMS CORPORATION
 8.4 QSI MANAGEMENT LLC
 8.5 AT&T
 8.6 AIRSTRIP TECHNOLOGIES
 8.7 GOOGLE INC
 8.8 HIMS & HERS HEALTH INC
 8.9 ORANGE
 8.10 SOFTSERVE
 8.11 COMPUTER PROGRAMS AND SYSTEMS INC
 8.12 VOCERA COMMUNICATIONS
 8.13 IBM CORPORATION
 8.14 CISCO SYSTEMS INC
 8.15 APPLE INC
 8.16 ORACLE CERNER
 8.17 VERADIGM
 8.18 MCKESSON CORPORATION
 8.19 HIMS & HERS HEALTH INC
 8.20 VODAFONE GROUP
 8.21 QUALCOMM TECHNOLOGIES INC
 8.22 SAMSUNG ELECTRONICS CO LTD
 8.23 OTHER KEY PLAYERS

Chapter 9: Global Digital Health Market By Region
 9.1 Overview
 9.2. North America Digital Health Market
  9.2.1 Key Market Trends, Growth Factors and Opportunities
  9.2.2 Top Key Companies
  9.2.3 Historic and Forecasted Market Size by Segments
  9.2.4 Historic and Forecasted Market Size By Technology
   9.2.4.1 Digital Health Systems
   9.2.4.2 Tele-Healthcare
   9.2.4.3 Mhealth
   9.2.4.4 & Healthcare Analytics
  9.2.5 Historic and Forecasted Market Size By Component
   9.2.5.1 Software
   9.2.5.2 Hardware
   9.2.5.3 & Services
  9.2.6 Historic and Forecasted Market Size By Application
   9.2.6.1 Obesity
   9.2.6.2 Diabetes
   9.2.6.3 Cardiovascular
   9.2.6.4 Respiratory Diseases
   9.2.6.5 Others
  9.2.7 Historic and Forecasted Market Size By End Use
   9.2.7.1 Patients
   9.2.7.2 Providers
   9.2.7.3 Payers
   9.2.7.4 Others
  9.2.8 Historic and Forecast Market Size by Country
   9.2.8.1 US
   9.2.8.2 Canada
   9.2.8.3 Mexico
 9.3. Eastern Europe Digital Health Market
  9.3.1 Key Market Trends, Growth Factors and Opportunities
  9.3.2 Top Key Companies
  9.3.3 Historic and Forecasted Market Size by Segments
  9.3.4 Historic and Forecasted Market Size By Technology
   9.3.4.1 Digital Health Systems
   9.3.4.2 Tele-Healthcare
   9.3.4.3 Mhealth
   9.3.4.4 & Healthcare Analytics
  9.3.5 Historic and Forecasted Market Size By Component
   9.3.5.1 Software
   9.3.5.2 Hardware
   9.3.5.3 & Services
  9.3.6 Historic and Forecasted Market Size By Application
   9.3.6.1 Obesity
   9.3.6.2 Diabetes
   9.3.6.3 Cardiovascular
   9.3.6.4 Respiratory Diseases
   9.3.6.5 Others
  9.3.7 Historic and Forecasted Market Size By End Use
   9.3.7.1 Patients
   9.3.7.2 Providers
   9.3.7.3 Payers
   9.3.7.4 Others
  9.3.8 Historic and Forecast Market Size by Country
   9.3.8.1 Bulgaria
   9.3.8.2 The Czech Republic
   9.3.8.3 Hungary
   9.3.8.4 Poland
   9.3.8.5 Romania
   9.3.8.6 Rest of Eastern Europe
 9.4. Western Europe Digital Health Market
  9.4.1 Key Market Trends, Growth Factors and Opportunities
  9.4.2 Top Key Companies
  9.4.3 Historic and Forecasted Market Size by Segments
  9.4.4 Historic and Forecasted Market Size By Technology
   9.4.4.1 Digital Health Systems
   9.4.4.2 Tele-Healthcare
   9.4.4.3 Mhealth
   9.4.4.4 & Healthcare Analytics
  9.4.5 Historic and Forecasted Market Size By Component
   9.4.5.1 Software
   9.4.5.2 Hardware
   9.4.5.3 & Services
  9.4.6 Historic and Forecasted Market Size By Application
   9.4.6.1 Obesity
   9.4.6.2 Diabetes
   9.4.6.3 Cardiovascular
   9.4.6.4 Respiratory Diseases
   9.4.6.5 Others
  9.4.7 Historic and Forecasted Market Size By End Use
   9.4.7.1 Patients
   9.4.7.2 Providers
   9.4.7.3 Payers
   9.4.7.4 Others
  9.4.8 Historic and Forecast Market Size by Country
   9.4.8.1 Germany
   9.4.8.2 UK
   9.4.8.3 France
   9.4.8.4 Netherlands
   9.4.8.5 Italy
   9.4.8.6 Russia
   9.4.8.7 Spain
   9.4.8.8 Rest of Western Europe
 9.5. Asia Pacific Digital Health Market
  9.5.1 Key Market Trends, Growth Factors and Opportunities
  9.5.2 Top Key Companies
  9.5.3 Historic and Forecasted Market Size by Segments
  9.5.4 Historic and Forecasted Market Size By Technology
   9.5.4.1 Digital Health Systems
   9.5.4.2 Tele-Healthcare
   9.5.4.3 Mhealth
   9.5.4.4 & Healthcare Analytics
  9.5.5 Historic and Forecasted Market Size By Component
   9.5.5.1 Software
   9.5.5.2 Hardware
   9.5.5.3 & Services
  9.5.6 Historic and Forecasted Market Size By Application
   9.5.6.1 Obesity
   9.5.6.2 Diabetes
   9.5.6.3 Cardiovascular
   9.5.6.4 Respiratory Diseases
   9.5.6.5 Others
  9.5.7 Historic and Forecasted Market Size By End Use
   9.5.7.1 Patients
   9.5.7.2 Providers
   9.5.7.3 Payers
   9.5.7.4 Others
  9.5.8 Historic and Forecast Market Size by Country
   9.5.8.1 China
   9.5.8.2 India
   9.5.8.3 Japan
   9.5.8.4 South Korea
   9.5.8.5 Malaysia
   9.5.8.6 Thailand
   9.5.8.7 Vietnam
   9.5.8.8 The Philippines
   9.5.8.9 Australia
   9.5.8.10 New Zealand
   9.5.8.11 Rest of APAC
 9.6. Middle East & Africa Digital Health Market
  9.6.1 Key Market Trends, Growth Factors and Opportunities
  9.6.2 Top Key Companies
  9.6.3 Historic and Forecasted Market Size by Segments
  9.6.4 Historic and Forecasted Market Size By Technology
   9.6.4.1 Digital Health Systems
   9.6.4.2 Tele-Healthcare
   9.6.4.3 Mhealth
   9.6.4.4 & Healthcare Analytics
  9.6.5 Historic and Forecasted Market Size By Component
   9.6.5.1 Software
   9.6.5.2 Hardware
   9.6.5.3 & Services
  9.6.6 Historic and Forecasted Market Size By Application
   9.6.6.1 Obesity
   9.6.6.2 Diabetes
   9.6.6.3 Cardiovascular
   9.6.6.4 Respiratory Diseases
   9.6.6.5 Others
  9.6.7 Historic and Forecasted Market Size By End Use
   9.6.7.1 Patients
   9.6.7.2 Providers
   9.6.7.3 Payers
   9.6.7.4 Others
  9.6.8 Historic and Forecast Market Size by Country
   9.6.8.1 Turkey
   9.6.8.2 Bahrain
   9.6.8.3 Kuwait
   9.6.8.4 Saudi Arabia
   9.6.8.5 Qatar
   9.6.8.6 UAE
   9.6.8.7 Israel
   9.6.8.8 South Africa
 9.7. South America Digital Health Market
  9.7.1 Key Market Trends, Growth Factors and Opportunities
  9.7.2 Top Key Companies
  9.7.3 Historic and Forecasted Market Size by Segments
  9.7.4 Historic and Forecasted Market Size By Technology
   9.7.4.1 Digital Health Systems
   9.7.4.2 Tele-Healthcare
   9.7.4.3 Mhealth
   9.7.4.4 & Healthcare Analytics
  9.7.5 Historic and Forecasted Market Size By Component
   9.7.5.1 Software
   9.7.5.2 Hardware
   9.7.5.3 & Services
  9.7.6 Historic and Forecasted Market Size By Application
   9.7.6.1 Obesity
   9.7.6.2 Diabetes
   9.7.6.3 Cardiovascular
   9.7.6.4 Respiratory Diseases
   9.7.6.5 Others
  9.7.7 Historic and Forecasted Market Size By End Use
   9.7.7.1 Patients
   9.7.7.2 Providers
   9.7.7.3 Payers
   9.7.7.4 Others
  9.7.8 Historic and Forecast Market Size by Country
   9.7.8.1 Brazil
   9.7.8.2 Argentina
   9.7.8.3 Rest of SA

Chapter 10 Analyst Viewpoint and Conclusion
10.1 Recommendations and Concluding Analysis
10.2 Potential Market Strategies

Chapter 11 Research Methodology
11.1 Research Process
11.2 Primary Research
11.3 Secondary Research