Global Digital Health Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast 2024-2035
- PUBLISHED ON
- 2/24/2023
- NO OF PAGES
- 226
- CATEGORY
- Healthcare & Life Sciences
Market Overview:
The global Digital Health Market size was valued at USD 211.56 billion in 2022, and is projected to reach USD 998.57 billion by 2032 at a CAGR of 15.5% from 2022 to 2032. The digital health market refers to the use of digital technologies, such as mobile health apps, wearables, telemedicine, and health information systems, to improve healthcare delivery and outcomes. It encompasses a wide range of technologies and applications that are designed to enhance the efficiency, accessibility, and quality of healthcare services.
The proliferation of smartphones and mobile devices has led to an increase in the adoption of mobile health apps and other mobile health technologies. These technologies can help patients manage chronic conditions, track their health metrics, and connect with healthcare providers remotely. Telemedicine services, which allow patients to access healthcare remotely, have become increasingly popular in recent years. The COVID-19 pandemic has further accelerated the growth of telemedicine, as many healthcare providers have sought to limit in-person visits and reduce the risk of infection transmission. Wearable devices, such as smartwatches and fitness trackers, are increasingly being used to monitor and track health metrics. These devices can provide valuable insights into patients' health and help healthcare providers to deliver personalized care. Electronic health records (EHRs) are becoming increasingly popular as healthcare providers seek to improve patient outcomes and streamline workflows. EHRs can help providers to track patient data, identify trends, and improve clinical decision-making. Artificial intelligence (AI) is being used to develop new healthcare applications and improve existing ones. AI can help healthcare providers to analyze large amounts of data, identify patterns and trends, and develop more personalized treatment plans.
Overall, the digital health market size is expected to continue to grow rapidly in the coming years, driven by advances in technology, increasing demand for remote healthcare services, and a focus on improving patient outcomes and reducing healthcare costs.
Growing demand for remote healthcare services is propelling Digital Health Market growth.
One of the driving factors of the digital health market growth is the increasing demand for remote healthcare services. The COVID-19 pandemic has highlighted the importance of remote healthcare, as many patients have been unable or unwilling to visit healthcare facilities in person. As a result, telemedicine services, remote monitoring technologies, and mobile health apps have become increasingly popular, providing patients with a convenient and safe way to access healthcare. Remote healthcare services can help to improve access to care, particularly for patients in rural or underserved areas. They can also help to reduce healthcare costs, by reducing the need for in-person visits and hospitalizations. In addition, remote healthcare services can improve patient outcomes by providing patients with more personalized care and enabling healthcare providers to monitor patients more closely.
The increasing demand for remote healthcare services is expected to continue to drive growth in the digital health market share in the coming years. As healthcare providers seek to improve access to care, reduce costs, and improve patient outcomes, they will increasingly turn to digital technologies such as telemedicine, remote monitoring, and mobile health apps.
Segmentation:
· By Technology type: The digital health market encompasses a wide range of technologies, including mobile health apps, telemedicine, wearables, health information systems, and electronic health records.
· By End-user: Digital Health Market can be segmented based on the end-users, such as healthcare providers, patients, payers, and employers.
· By Application: Digital Health Market can be segmented based on the application, such as chronic disease management, mental health, medication management, remote monitoring, and diagnostics.
Geography:
The North American region, specifically the United States, currently dominates the digital health market share. This is due to several factors, including the presence of a highly developed healthcare system, a large and aging population with a high burden of chronic disease, and a favorable regulatory environment that supports the development and adoption of digital health technologies. In addition, the United States is home to many of the world's leading digital health companies and has a highly competitive market with a diverse range of players. Digital Health Market in Europe is also growing rapidly, driven by increasing demand for remote healthcare services and supportive government initiatives.
Impact of COVID-19 on the global Digital Health Market:
The COVID-19 pandemic has had a significant impact on the digital health market, accelerating the adoption of digital health technologies and increasing demand for remote healthcare services. With social distancing measures and lockdowns in place, many patients have been unable or unwilling to visit healthcare facilities in person, leading to a surge in demand for telemedicine, remote monitoring, and mobile health apps. The pandemic has also highlighted the need for more efficient and effective healthcare systems, particularly in the face of a public health crisis. Digital health technologies have played a key role in the pandemic response, enabling healthcare providers to monitor and treat patients remotely, and helping to prevent the spread of the virus. The pandemic has also led to increased investment in the digital health market, as investors recognize the potential of digital health technologies to improve access to care, reduce costs, and improve patient outcomes. In addition, governments around the world have introduced supportive policies and initiatives to promote the adoption of digital health technologies. Overall, the COVID-19 pandemic has accelerated the shift towards digital healthcare and is expected to drive sustained growth in the digital health market in the coming years.
Impact of the Russia-Ukraine War on the global Digital Health Market:
The ongoing conflict between Russia and Ukraine has had a limited impact on the global digital health market. However, it has had some regional effects on Digital Health Market, particularly in the affected countries and surrounding regions. One of the key impacts of the conflict has been the disruption of healthcare services, particularly in conflict-affected areas. Healthcare facilities have been damaged or destroyed, and many healthcare professionals have been displaced or killed. This has led to a reduction in access to healthcare services and a higher burden of disease in these areas. In addition, the conflict has led to economic instability in the region, which can affect healthcare spending and investment in digital health technologies. Many countries in the region have limited resources to invest in healthcare, and the conflict has further strained healthcare budgets. Furthermore, the political and economic instability in the region may also affect the regulatory environment for digital health technologies. This can impact the development and adoption of new technologies and may slow down the growth of Digital Health Market in affected countries. Overall, while the impact of the Russia-Ukraine conflict on the global digital health market is limited, it has had some regional effects on Digital Health Market in affected countries and surrounding regions.
Company Profiles:
· Apple Inc.
· Google LLC
· Amazon.com Inc.
· Microsoft Corporation
· Philips Healthcare
· Siemens Healthineers AG
· GE Healthcare
· Cerner Corporation
· Allscripts Healthcare Solutions Inc.
· McKesson Corporation
· Athenahealth Inc.
· Medtronic plc
· Becton, Dickinson and Company
· Teladoc Health Inc.
· Doctor on Demand Inc.
Key Benefits:• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Digital Health market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Digital Health would help in identifying future applications in this market.
Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Objectives of the Study:
• To provide with an exhaustive analysis on the Digital Health Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Historic Year: 2016-2022
Forecast: 2024-2035
1 Digital Health Introduction and Market Overview
1.1 Objectives of the Study
1.2 Overview of Digital Health
1.3 Digital Health Market Scope and Market Size Estimation
1.3.1 Market Concentration Ratio and Market Maturity Analysis
1.3.2 Global Digital Health Revenue and Growth Rate from 2016-2026
1.4 Market Segmentation
1.4.1 Types of Digital Health
1.4.2 Applications of Digital Health
1.4.3 Research Regions
1.5 Market Dynamics
1.5.1 Digital Health Industry Trends
1.5.2 Digital Health Drivers
1.5.3 Digital Health Market Challenges
1.5.4 Digital Health Market Restraints
1.6 Industry News and Policies by Regions
1.6.1 Industry News
1.6.2 Industry Policies
1.7 Mergers & Acquisitions, Expansion Plans
1.8 Digital Health Industry Development Trends under COVID-19 Outbreak
1.8.1 Global COVID-19 Status Overview
1.8.2 Influence of COVID-19 Outbreak on Digital Health Industry Development
2 Industry Chain Analysis
2.1 Upstream Raw Material Supply and Demand Analysis
2.1.1 Global Digital Health Major Upstream Raw Material and Suppliers
2.1.2 Raw Material Source Analysis
2.2 Major Players of Digital Health
2.2.1 Major Players Manufacturing Base of Digital Health in 2020
2.2.2 Major Players Market Distribution in 2020
2.3 Digital Health Manufacturing Cost Structure Analysis
2.3.1 Production Process Analysis
2.3.2 Manufacturing Cost Structure of Digital Health
2.3.3 Labor Cost of Digital Health
2.4 Market Channel Analysis of Digital Health
2.5 Major Down Stream Customers by Application
3 Global Digital Health Market, by Type
3.1 Global Digital Health Revenue and Market Share by Type (2016-2021)
3.2 Global Digital Health Production and Market Share by Type (2016-2021)
3.3 Global Digital Health Revenue and Growth Rate by Type (2016-2021)
3.3.1 Global Digital Health Revenue and Growth Rate of Mobile App
3.3.2 Global Digital Health Revenue and Growth Rate of Telemedicine
3.3.3 Global Digital Health Revenue and Growth Rate of Wearable Device
3.4 Global Digital Health Price Analysis by Type (2016-2021)
3.4.1 Explanation of Different Type Product Price Trends
4 Digital Health Market, by Application
4.1 Downstream Market Overview
4.2 Global Digital Health Consumption and Market Share by Application (2016-2021)
4.3 Global Digital Health Consumption and Growth Rate by Application (2016-2021)
4.3.1 Global Digital Health Consumption and Growth Rate of Hospital (2016-2021)
4.3.2 Global Digital Health Consumption and Growth Rate of Clinic (2016-2021)
4.3.3 Global Digital Health Consumption and Growth Rate of Others (2016-2021)
5 Global Digital Health Consumption, Revenue ($) by Region (2016-2021)
5.1 Global Digital Health Revenue and Market Share by Region (2016-2021)
5.2 Global Digital Health Consumption and Market Share by Region (2016-2021)
5.3 Global Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4 North America Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.4.1 North America Digital Health Market Under COVID-19
5.4.2 North America Digital Health SWOT Analysis
5.5 Europe Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.5.1 Europe Digital Health Market Under COVID-19
5.5.2 Europe Digital Health SWOT Analysis
5.6 China Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.6.1 China Digital Health Market Under COVID-19
5.6.2 China Digital Health SWOT Analysis
5.7 Japan Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.7.1 Japan Digital Health Market Under COVID-19
5.7.2 Japan Digital Health SWOT Analysis
5.8 Middle East and Africa Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.8.1 Middle East and Africa Digital Health Market Under COVID-19
5.8.2 Middle East and Africa Digital Health SWOT Analysis
5.9 India Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.9.1 India Digital Health Market Under COVID-19
5.9.2 India Digital Health SWOT Analysis
5.10 South America Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.10.1 South America Digital Health Market Under COVID-19
5.10.2 South America Digital Health SWOT Analysis
5.11 South Korea Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.11.1 South Korea Digital Health Market Under COVID-19
5.11.2 South Korea Digital Health SWOT Analysis
5.12 Southeast Asia Digital Health Consumption, Revenue, Price and Gross Margin (2016-2021)
5.12.1 Southeast Asia Digital Health Market Under COVID-19
5.12.2 Southeast Asia Digital Health SWOT Analysis
6 Global Digital Health Production by Top Regions (2016-2021)
6.1 Global Digital Health Production by Top Regions (2016-2021)
6.2 North America Digital Health Production and Growth Rate
6.3 Europe Digital Health Production and Growth Rate
6.4 China Digital Health Production and Growth Rate
6.5 Japan Digital Health Production and Growth Rate
6.6 India Digital Health Production and Growth Rate
7 Global Digital Health Consumption by Regions (2016-2021)
7.1 Global Digital Health Consumption by Regions (2016-2021)
7.2 North America Digital Health Consumption and Growth Rate
7.3 Europe Digital Health Consumption and Growth Rate
7.4 China Digital Health Consumption and Growth Rate
7.5 Japan Digital Health Consumption and Growth Rate
7.6 Middle East & Africa Digital Health Consumption and Growth Rate
7.7 India Digital Health Consumption and Growth Rate
7.8 South America Digital Health Consumption and Growth Rate
7.9 South Korea Digital Health Consumption and Growth Rate
7.10 Southeast Asia Digital Health Consumption and Growth Rate
8 Competitive Landscape
8.1 Competitive Profile
8.2 Sanantia Market Performance Analysis
8.2.1 Company Profiles
8.2.2 Digital Health Product Profiles, Application and Specification
8.2.3 Sanantia Sales, Revenue, Price, Gross Margin 2016-2021
8.2.4 Company Recent Development
8.2.5 Strategies for Company to Deal with the Impact of COVID-19
8.3 Ormedin Soluciones Market Performance Analysis
8.3.1 Company Profiles
8.3.2 Digital Health Product Profiles, Application and Specification
8.3.3 Ormedin Soluciones Sales, Revenue, Price, Gross Margin 2016-2021
8.3.4 Company Recent Development
8.3.5 Strategies for Company to Deal with the Impact of COVID-19
8.4 Salud Cercana Market Performance Analysis
8.4.1 Company Profiles
8.4.2 Digital Health Product Profiles, Application and Specification
8.4.3 Salud Cercana Sales, Revenue, Price, Gross Margin 2016-2021
8.4.4 Company Recent Development
8.4.5 Strategies for Company to Deal with the Impact of COVID-19
8.5 ViperMed Market Performance Analysis
8.5.1 Company Profiles
8.5.2 Digital Health Product Profiles, Application and Specification
8.5.3 ViperMed Sales, Revenue, Price, Gross Margin 2016-2021
8.5.4 Company Recent Development
8.5.5 Strategies for Company to Deal with the Impact of COVID-19
8.6 Healti Market Performance Analysis
8.6.1 Company Profiles
8.6.2 Digital Health Product Profiles, Application and Specification
8.6.3 Healti Sales, Revenue, Price, Gross Margin 2016-2021
8.6.4 Company Recent Development
8.6.5 Strategies for Company to Deal with the Impact of COVID-19
8.7 Ormedin Soluciones Market Performance Analysis
8.7.1 Company Profiles
8.7.2 Digital Health Product Profiles, Application and Specification
8.7.3 Ormedin Soluciones Sales, Revenue, Price, Gross Margin 2016-2021
8.7.4 Company Recent Development
8.7.5 Strategies for Company to Deal with the Impact of COVID-19
8.8 MediFile Market Performance Analysis
8.8.1 Company Profiles
8.8.2 Digital Health Product Profiles, Application and Specification
8.8.3 MediFile Sales, Revenue, Price, Gross Margin 2016-2021
8.8.4 Company Recent Development
8.8.5 Strategies for Company to Deal with the Impact of COVID-19
8.9 Immer Market Performance Analysis
8.9.1 Company Profiles
8.9.2 Digital Health Product Profiles, Application and Specification
8.9.3 Immer Sales, Revenue, Price, Gross Margin 2016-2021
8.9.4 Company Recent Development
8.9.5 Strategies for Company to Deal with the Impact of COVID-19
8.10 ApoloHealthMx Market Performance Analysis
8.10.1 Company Profiles
8.10.2 Digital Health Product Profiles, Application and Specification
8.10.3 ApoloHealthMx Sales, Revenue, Price, Gross Margin 2016-2021
8.10.4 Company Recent Development
8.10.5 Strategies for Company to Deal with the Impact of COVID-19
8.11 Umedic Market Performance Analysis
8.11.1 Company Profiles
8.11.2 Digital Health Product Profiles, Application and Specification
8.11.3 Umedic Sales, Revenue, Price, Gross Margin 2016-2021
8.11.4 Company Recent Development
8.11.5 Strategies for Company to Deal with the Impact of COVID-19
8.12 InstaFit Market Performance Analysis
8.12.1 Company Profiles
8.12.2 Digital Health Product Profiles, Application and Specification
8.12.3 InstaFit Sales, Revenue, Price, Gross Margin 2016-2021
8.12.4 Company Recent Development
8.12.5 Strategies for Company to Deal with the Impact of COVID-19
8.13 ECGlove Market Performance Analysis
8.13.1 Company Profiles
8.13.2 Digital Health Product Profiles, Application and Specification
8.13.3 ECGlove Sales, Revenue, Price, Gross Margin 2016-2021
8.13.4 Company Recent Development
8.13.5 Strategies for Company to Deal with the Impact of COVID-19
8.14 Heal On Site Market Performance Analysis
8.14.1 Company Profiles
8.14.2 Digital Health Product Profiles, Application and Specification
8.14.3 Heal On Site Sales, Revenue, Price, Gross Margin 2016-2021
8.14.4 Company Recent Development
8.14.5 Strategies for Company to Deal with the Impact of COVID-19
8.15 Cicluz El ciclo de tu salud Market Performance Analysis
8.15.1 Company Profiles
8.15.2 Digital Health Product Profiles, Application and Specification
8.15.3 Cicluz El ciclo de tu salud Sales, Revenue, Price, Gross Margin 2016-2021
8.15.4 Company Recent Development
8.15.5 Strategies for Company to Deal with the Impact of COVID-19
8.16 ByPrice Market Performance Analysis
8.16.1 Company Profiles
8.16.2 Digital Health Product Profiles, Application and Specification
8.16.3 ByPrice Sales, Revenue, Price, Gross Margin 2016-2021
8.16.4 Company Recent Development
8.16.5 Strategies for Company to Deal with the Impact of COVID-19
9 Global Digital Health Market Analysis and Forecast by Type and Application
9.1 Global Digital Health Market Revenue & Volume Forecast, by Type (2021-2026)
9.1.1 Mobile App Market Revenue and Volume Forecast (2021-2026)
9.1.2 Telemedicine Market Revenue and Volume Forecast (2021-2026)
9.1.3 Wearable Device Market Revenue and Volume Forecast (2021-2026)
9.2 Global Digital Health Market Revenue & Volume Forecast, by Application (2021-2026)
9.2.1 Hospital Market Revenue and Volume Forecast (2021-2026)
9.2.2 Clinic Market Revenue and Volume Forecast (2021-2026)
9.2.3 Others Market Revenue and Volume Forecast (2021-2026)
10 Digital Health Market Supply and Demand Forecast by Region
10.1 North America Market Supply and Demand Forecast (2021-2026)
10.2 Europe Market Supply and Demand Forecast (2021-2026)
10.3 China Market Supply and Demand Forecast (2021-2026)
10.4 Japan Market Supply and Demand Forecast (2021-2026)
10.5 Middle East and Africa Market Supply and Demand Forecast (2021-2026)
10.6 India Market Supply and Demand Forecast (2021-2026)
10.7 South America Market Supply and Demand Forecast (2021-2026)
10.8 South Korea Market Supply and Demand Forecast (2021-2026)
10.9 Southeast Asia Market Supply and Demand Forecast (2021-2026)
10.10 Explanation of Market Size Trends by Region
10.11 Digital Health Market Trends Analysis
11 New Project Feasibility Analysis
11.1 Industry Barriers and New Entrants SWOT Analysis
11.2 Analysis and Suggestions on New Project Investment
12 Expert Interview Record
13 Research Finding and Conclusion
14 Appendix
14.1 Methodology
14.2 Research Data Source
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
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Market Estimates and Forecast
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Case Study- ICT Sector
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Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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