The global digital health market size was US$ 109.5 billion in 2021. The global digital health market is forecast to grow to US$ 309.1 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.1% during the forecast period from 2022 to 2030.

Factors Influencing the Market

The increasing prevalence of the chronic disease is always the primary factor driving the growth of the digital health market. In addition, the growing penetration of digital technology in order to boost the adoption of wireless monitoring will escalate the growth of the market. According to a study by World Health Organization (WHO), cardiovascular diseases resulted in around 17.9 million deaths in 2021. Meanwhile, cancer accounted for 9.3 million deaths, respiratory diseases accounted for 4.1 million deaths, and diabetes accounted for 1.5 million deaths in 2021. Thus, such high data depicts the strong demand for digital healthcare technologies and efficient treatments. Moreover, the growing consumption of tobacco, alcohol, and unhealthy lifestyle will contribute to the growth of the global digital health market.

Increasing awareness related to digital health devices and the trending home healthcare is forecast to bring ample growth opportunities in the coming years. In addition, the growing number of offerings in the industry will contribute to the growth of the market. For instance, Amazon Care unveiled its telehealth offering in 80 states in the United States in 2021. This strategy will help individuals and families get high-quality medical care and advice. Furthermore, engineers from the University of California unveiled a first-ever skin patch that can track the blood pressure of patients. The patients have to wear the patch on the neck. It also monitors the patient's glucose, lactate, alcohol, and caffeine levels.

Growing events and strategies aiming at expanding product portfolio will benefit the market during the forecast period. Allscripts inked a pact with Revo Health in April 2021. Furthermore, Cerner collaborated with Xealth in December 2020 with the aim to offer health systems new centralized digital ordering and monitoring for clients.

Growing concerns related to regulatory compliance may restrict the growth of the global digital health market.

COVID-19 Impact Analysis

Due to the pandemic, the digital health market witnessed a sudden jump in terms of revenue. The industry players began offering effective solutions in order to cater to the growing demands of the public. In addition, people were restricted from entering the hospitals until necessary. In that case, digital health emerged as a favorable option to continue regular appointments. Furthermore, the concerns related to virus transmission terrified people from going outside. Thus, clinics and other healthcare bodies began offering digital solutions to help the people.

Regional Analysis

The Asia-Pacific digital health market is forecast to emerge as the largest market, owing to the growing initiatives from government bodies. In addition, the rising prevalence of chronic diseases and unhealthy lifestyles of people will fuel the growth of the market. Furthermore, the growing population rate and rising awareness related to digital options will contribute to the growth of the market.

Competitors in the Market

Allscripts Healthcare Solution, Inc.
Cerner Corporation
Cisco Systems
eCLINICALWORKS
General Electric company
Koninklijke Philips N.V.
Honeywell International Inc.
Mckesson Corporation
Siemens Healthcare AG
Qualcomm Technologies, Inc.
Other Prominent Players
Market Segmentation

The global digital health market segmentation focuses on Product and Service, Component, End-User, and Region.

By Product and Service

mHealth
mHealth Devices
Blood Glucose Meter
BP Monitors
Pulse Oximetry
Neurological Monitors
Cardiac Monitors
Apnea & Sleep Monitors
Wearable Fitness Sensor Devices & Heart Rate Meters
Others
mHealth Services
Prevention Services
Diagnostic Services
Monitoring Services
Treatment Services
Wellness & Healthcare System Strengthening Solutions
eHealth
Electronic Health Records (HER)
Vendor Neutral Archive (VNA) and Picture Archiving & Communications Systems (PACS)
Laboratory Information Systems (LIS)
Telehealth
Prescribing Solutions
Medical Apps
Clinical Decision Support Systems (CDSS)
Pharmacy Information Systems
Other
By Component

Software
Hardware
Services
By End-User

Healthcare Providers
Payers
Healthcare Consumers
Others
By Region

North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America