Global Digital Health Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

Recent Developments

• In April 2023, Microsoft partnered with Epic Systems Corporation to integrate AI into electronic health records (EHRs), aiming to enhance healthcare practitioners' productivity and patient communication with AI-powered solutions.

• In March 2023, BlueRock Therapeutics LP teamed up with Emerald Innovations and Rune Labs to focus on contactless and invisible wearable digital health technology innovations to improve Parkinson's disease monitoring.

• Also in March 2023, Google introduced Open Health Stack, an open-source program for developers to create health-related apps, incorporating strategies such as AI collaborations targeting cancer screening.

• In the same month, Nabla Technologies launched Copilot, a Chrome extension digital assistant tool using GPT-3 to help doctors turn conversations with patients into actionable plans.

• In February 2022, NextGen Healthcare, Inc. announced its partnership with Verato, a leading provider in healthcare, life sciences, and public health, with the goal of integrating patient matching into NextGen's Health Data Hub (HDH) platform.

• In March 2022, Samsung showcased its smart healthcare TV and advanced digital health solutions for healthcare facilities at the HIMSS Global Conference in Florida. Additionally, Samsung collaborated with ShareSafe to create a secure solution for casting from mobile devices to Samsung Smart Healthcare TVs.

• In March 2022, Epic Systems Corporation launched Garden Plot, offering small independent healthcare groups access to Epic software solutions and an interoperability network.

• In the same month, Vocera Communications, a part of Stryker, introduced Minibadge—a compact, portable, voice-driven wearable device that integrates with clinical and operational workflows in healthcare facilities and allows for hands-free communication.

• In May 2022, ChristianaCare, a regional nonprofit healthcare system and client of Cerner Corporation, piloted a collaborative robot called "Moxi" or "cobot." Moxi assists nurses with non-clinical tasks such as deliveries and lab work, allowing clinical staff to focus more on patient care. ChristianaCare plans to install five Moxi cobots at Christiana Hospital.

• In May 2022, Elligo Health Research and Freenome announced their collaboration to conduct a clinical trial through the Learning Health Network to advance the early detection of cancer. The collaboration leverages Elligo's network of health systems and Freenome's multi-omics technology to accelerate cancer detection.

• In May 2022, NextGen Healthcare, Inc. partnered with Circuit Clinical to provide clinical trial access to patients of Federally Qualified Health Centers (FQHCs) through over 14,000 providers utilizing NextGen Healthcare solutions.

This report extensively covers different segments of Global Digital Health Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points, digital health market trends and, insights that are generated from analysis of these data points (data trends and patterns).

The global digital health market is segmented by technology, component, end users, and geography, providing a comprehensive understanding of the various aspects that drive the market and its growth potential.

By technology, the market encompasses a range of digital solutions such as telehealth, mobile health (mHealth), wearable devices, health information technology (health IT), and artificial intelligence (AI) applications in healthcare. By component, the market is divided into hardware, software, and services. Hardware includes devices such as wearable technology and medical devices, while software encompasses applications like EHRs, health apps, and data management tools. Services involve consulting, implementation, and maintenance support for digital health solutions. By end users, the market serves various segments such as healthcare providers, patients, payers, and others.

By geography, the market is segmented into key regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Europe lead the market due to advanced healthcare infrastructure and high adoption rates of digital health technologies. Asia Pacific is experiencing rapid growth, driven by increased healthcare spending and technological advancements. Latin America and the Middle East and Africa present emerging opportunities, with growing investments in healthcare infrastructure and a focus on improving healthcare access.

Global Digital Health Segment Analysis

In this report, the Global Digital Health Market has been segmented by Technology, Component, End Users, and Geography.

Global Digital Health Market, Segmentation by Technology

The Global Digital Health Market has been segmented by Technology into Tele health (Tele medicine and Tele care), mHealth (Wearables and Apps), Digital Health Information Systems, Therapeutic Devices (Digital Medicine, Respiratory Therapy Devices, Insulin Pumps, and Others), and Others.

Telehealth encompasses two main categories: telemedicine and telecare. Telemedicine includes virtual consultations and remote monitoring services that allow healthcare providers to diagnose, treat, and monitor patients remotely. Telecare focuses on providing healthcare services and support to patients in their own homes, including remote monitoring of chronic conditions and post-operative care.

mHealth involves the use of mobile technology to support health and medical practices. This segment includes wearables, such as smartwatches and fitness trackers, which monitor vital signs, activity levels, and other health metrics. It also encompasses health-related mobile applications (apps) that allow patients to track their health, access medical information, and connect with healthcare providers.

Digital health information systems include electronic health records (EHRs), electronic medical records (EMRs), and other data management solutions. These systems streamline healthcare workflows, improve care coordination, and facilitate the secure sharing of patient information among healthcare providers.

Therapeutic devices involve digital solutions that support treatment and therapy, including digital medicine, respiratory therapy devices, insulin pumps, and other devices. Digital medicine includes prescription digital therapeutics (PDTs), which are software-based interventions that can treat, manage, or prevent medical conditions. Respiratory therapy devices include inhalers and nebulizers with digital enhancements for optimal treatment management. Insulin pumps with smart features provide automated insulin delivery for patients with diabetes, while other therapeutic devices offer additional treatment options.

Others is a broad category that encompasses other digital health technologies that may not fit into the above segments. This could include innovations such as telepharmacy, remote diagnostics, and emerging technologies in healthcare that are not yet widely categorized.

Global Digital Health Market, Segmentation by Component

The Global Digital Health Market has been segmented by Component into Hardware, Software, and Services.

Hardware includes the physical devices and equipment used in digital health. This category encompasses wearables such as smartwatches and fitness trackers, as well as medical devices like digital dose inhalers, insulin pumps, and other connected therapeutic devices. Hardware also includes telehealth equipment like cameras, sensors, and other tools for remote monitoring and virtual consultations. These devices collect data and provide essential interfaces for digital health applications.

Software comprises the programs and applications that power digital health solutions. This includes mobile health apps, telehealth platforms, digital health information systems like electronic health records (EHRs), and artificial intelligence (AI) software for diagnostics and treatment planning. Software also includes platforms for managing health data, facilitating communication between patients and providers, and providing personalized health information and support.

Services involve the support and infrastructure required for the effective implementation and maintenance of digital health solutions. This includes consulting services for the deployment of digital health technologies, training and education for healthcare providers and patients, and technical support for troubleshooting and optimizing digital health systems. Additionally, services may include data management and analytics, as well as integration with existing healthcare systems and workflows.

Global Digital Health Market, Segmentation by End Users

The Global Digital Health Market has been segmented by End Users into Business to Consumers and Business to Business.

Business-to-Consumer (B2C) refers to digital health products and services that are marketed directly to individual consumers. This segment includes wearable devices such as fitness trackers and smartwatches, as well as mobile health (mHealth) apps that help patients monitor their health metrics, track fitness goals, and manage chronic conditions. B2C digital health solutions often focus on providing convenient and personalized healthcare experiences for patients, empowering them to take an active role in managing their health.

Business-to-Business (B2B) encompasses digital health solutions that are marketed to other businesses or organizations within the healthcare industry. This segment includes telehealth platforms, electronic health records (EHRs), and health information technology (health IT) systems that are designed for use by healthcare providers, hospitals, and clinics. B2B solutions may also include digital therapeutics and data analytics platforms that support medical research, treatment planning, and drug development. Additionally, B2B digital health solutions may target insurance companies and other payers by providing tools for claims processing, patient management, and cost control.

While B2C solutions focus on direct engagement with patients, B2B solutions cater to the needs of healthcare organizations and other businesses within the industry. This differentiation allows for targeted innovation and the development of specialized digital health solutions to meet the unique needs of each end-user group.

Global Digital Health Market, Segmentation by Geography

In this report, the Global Digital Health Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Digital Health Market Share (%), by Geographical Region, 2023

North America is a leading region in the global digital health market, driven by advanced healthcare infrastructure, high healthcare expenditure, and a strong focus on innovation. The region is home to many key players in digital health and has a high adoption rate of digital health technologies such as telehealth and mHealth. The United States and Canada are major markets within the region.

Europe is another significant market for digital health, benefiting from well-established healthcare systems and a strong regulatory framework that supports the adoption of digital health solutions. The region has seen considerable growth in telehealth and digital health information systems, particularly in countries such as Germany, the United Kingdom, and France.

Asia Pacific is experiencing rapid growth in the digital health market, fueled by increasing healthcare expenditure, rising awareness of digital health solutions, and the adoption of emerging technologies. Countries like China, India, and Japan are major contributors to market expansion, as their large populations and improving healthcare infrastructure create opportunities for digital health innovation.

The Middle East and Africa region offers a mix of opportunities and challenges in the digital health market. While some countries in the Middle East, such as the United Arab Emirates and Saudi Arabia, have advanced healthcare systems and are investing in digital health, other areas face limitations in terms of access to quality care. The region's growing focus on healthcare innovation and digital health adoption presents opportunities for market growth.

Latin America presents an emerging market for digital health, with potential for growth driven by increased investments in healthcare infrastructure and a rising demand for accessible healthcare services. Brazil and Mexico are key markets in the region, with expanding telehealth and mHealth services.

This report provides an in depth analysis of various factors that impact the dynamics of Global Digital Health Market. These factors include; Market Drivers, Restraints, and Opportunities.

Drivers:

• Rising Adoption of Telehealth and mHealth Solutions:
• Increasing Prevalence of Chronic Diseases
• Government Initiatives and Support
• Improved Healthcare Access

• Rising Awareness and Acceptance of Digital Health - Rising awareness and acceptance of digital health is a key driver of the global digital health market, as it fuels the demand for innovative healthcare solutions and services. Patients, healthcare providers, and policymakers are increasingly recognizing the benefits of digital health technologies, which include improved access to care, enhanced patient outcomes, and more efficient healthcare delivery.

  For patients, the convenience and accessibility of digital health solutions such as telehealth, mobile health (mHealth) apps, and wearable devices have become increasingly appealing. Patients can access medical advice, consultations, and monitoring services from the comfort of their homes, reducing the need for in-person visits and long wait times. Additionally, digital health tools empower patients to take a more active role in managing their own health, whether it's tracking fitness goals, monitoring chronic conditions, or adhering to medication schedules.

  Healthcare providers are also embracing digital health technologies for their potential to streamline workflows and improve patient care. Telehealth allows providers to reach more patients, particularly in remote or underserved areas, while digital health information systems such as electronic health records (EHRs) facilitate better care coordination and data sharing. These technologies also enable providers to deliver personalized and proactive care, resulting in better patient outcomes.

Restraints:

• Interoperability Issues
• Data Privacy and Security Concerns
• Dependency on Technology Infrastructure

• Limited Digital Literacy - Limited digital literacy poses a significant restraint on the global digital health market, impacting both patients and healthcare providers. Digital literacy refers to the ability to effectively use digital technologies, such as computers, mobile devices, and health-related apps and software. A lack of proficiency or familiarity with these technologies can hinder the adoption and utilization of digital health solutions.

  For patients, limited digital literacy can present a barrier to accessing and using digital health tools such as telehealth platforms, mobile health (mHealth) apps, and wearable devices. Those who struggle to navigate these technologies may find it challenging to schedule virtual appointments, monitor their health metrics, or track their medication schedules. As a result, they may face difficulties in effectively managing their health, which can lead to poorer health outcomes.

  Healthcare providers with limited digital literacy may also encounter challenges in adopting and integrating digital health solutions into their practices. Providers who are unfamiliar with telehealth platforms, electronic health records (EHRs), and other health information systems may be less likely to use these tools to their full potential. This can limit their ability to deliver efficient, high-quality care and may hinder the overall effectiveness of digital health solutions within healthcare settings.

Opportunities:

• Integration of AI and Machine Learning
• Expansion of Wearable Devices
• Telehealth and mHealth for Mental Health Services
• Customization and Personalization of Digital Health Solutions

• Growth in Remote Patient Monitoring - The growth in remote patient monitoring (RPM) presents a significant opportunity for the global digital health market. RPM involves the use of digital technologies to monitor patients' health remotely, enabling healthcare providers to track vital signs, symptoms, and other health metrics in real-time without the need for in-person visits. This expanding sector offers numerous benefits for patients, providers, and the healthcare industry as a whole.

  One of the primary advantages of RPM is the ability to enhance patient care and outcomes. By continuously monitoring patients' health data, providers can detect potential issues early and intervene promptly, preventing complications and hospital readmissions. This proactive approach to healthcare can lead to improved patient outcomes and satisfaction.

  For patients, RPM provides the convenience of receiving ongoing care and support from the comfort of their homes. Patients can use connected devices such as wearables or digital health apps to measure and transmit data such as blood pressure, glucose levels, or heart rate directly to their healthcare providers. This ease of access andmonitoring can empower patients to take a more active role in managing their health.

Key players in Global Digital Health Market include,

• Cerner Corporation
• Mckesson Corporation
• Apple Inc.
• Alphabet Inc. (Google)
• Microsoft Corporation
• International Business Machines Corporation (IBM)
• Athenahealth Inc.
• Philips Healthcare
• GE Healthcare
• Siemens Healthcare
• Qualcomm Life Inc.
• Teladoc Health Inc.
• Epic Systems Corporation
• Johnson & Johnson
• Fitbit Inc.
• Agfa-Gevaert Group
• Infosys Limited
• Wipro Limited
• Tata Consultancy Services Limited

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis