Digital Healthcare Market Size, Share & Trends Estimation Report By Type(Digital Health, Telehealthcare, Health Analytics),By Application(B2B Category, B2C Category),By Delivery Mode(On-Premise, Cloud-Based)By Component(Software, Services, Hardware), By Region, And Segment Forecasts, 2023 - 2030
The Digital Healthcare market was valued USD 167 Billion in 2022 and is expected to reach USD 1.3 Trillion by 2030 at 23.7% CAGR during the forecast period 2023-2030.
Digital Healthcare Market Overview:
The growing use of big data in the healthcare sector, the growing use of EHR and EMR systems, the support provided to maintain patients' electronic health records, and regulatory obligations are all boosting the digital healthcare industry, to mention just a few factors. Additionally, the growing trend in preventive care, along with increased investment in various mHealth companies, is accelerating the market expansion.
In the United States, there has been a significant increase in the use of cell phones by doctors, increasing digital health practices. The result is a significant increase in mobile applications for healthcare needs, accelerating the industry's expansion. In addition, rapid development of IT infrastructure, friendly government efforts, growing demand for remote patient monitoring services, and increasing venture capital investment will increase industry revenues. The current Covid-19 pandemic has dramatically increased the demand for digital health for consumers, doctors, and healthcare workers alike, providing opportunities with social distancing as the only existing option to prevent exposure.
This report uses both quantitative and qualitative analysis to help readers develop business/growth strategies, assess market competition, analyze their position in the current market, and create knowledgeable businesses in Digital Health It aims to provide a comprehensive presentation on the global market for care. Decisions about digital health care.
Digital Healthcare market size, estimates and forecasts are provided in terms of sales volume (in K) and revenue in million dollars, with historical and forecast data for the period 2017-2030, with 2022 as base year. This report segments the global Digital Healthcare Market in detail. Regional market sizes related to products by type, by application, and by player are also provided. Considering the impact of COVID-19 and the Russian-Ukraine war when estimating the market size.
Key Market Updates:
- In April 2020, GE Healthcare launches Mural Virtual Care Solution, a remote patient data monitoring technology, helping clinicians support their most critical COVID-19 patients across the healthcare system.
- In September 2019, Accenture and Bayer have implemented the Accenture INTIENT Clinical platform to streamline and accelerate the drug development process.
Major Market Segments Covered in Digital Healthcare Industry Research:
Market Key Players:
Insight Timer, Headspace, Calm, YOGAGLO, Enso Meditation Timer & Bell, Allscripts Healthcare LLC (US), BioTelemetry Inc. (US), Cerner Corporation (US), Cisco Systems Inc (US), Koninklijke Philips NV (The Netherlands), McKesson Corporation (US), General Electric Company (US, AT&T Inc. (US), Athenahealth Inc. (US), EClinicalWorks (US), iHealth Lab Inc. (US), Qualcomm Technologies Inc. (US), and Others.
- Digital Health
- Health Analytics
The digital health market share in the service sector is expected to grow more than 12% by 2022-2030. One of the key sector drivers is the expansion of providers' digital health care offerings and the high prevalence of chronic diseases. There is also a growing awareness of the benefits of digital health-related services, creating strong prospects for industry development across the service sector.
- B2B Category
- B2C Category
The B2B market for digital healthcare is currently worth $1 trillion and will grow at a CAGR of 4% through 2021.
By Delivery Mode
By End User
- Healthcare Providers
- Healthcare Payers
- Pharmaceutical Companies
North America held a dominant position in the global digital healthcare market in 2020, accounting for a 53.0% share in terms of volume, followed by Europe and Asia Pacific. Increased collaboration between companies located in North America is contributing to the growth of the digital healthcare market in the region. For example, in July 2021, Cognizant partnered with Philips to develop an end-to-end digital health solution to help life sciences companies and healthcare organizations improve patient care and accelerate clinical trials.
Key Digital Healthcare Market Driver
- The growing use of tablets, smartphones, and other mobile platforms
- Expansion of healthcare IT infrastructure in developed countries
- A friendly government initiative in the US and Europe
- Strong Demand for Remote Patient Monitoring Services
- Increased venture capital investments.
Key Digital Healthcare Market Opportunities
Growing Adoption of Digital Health Technologies to Promote Market Opportunities
Digital health incorporates telemedicine and telemedicine, health data and technology, precision medicine, and the ability to actively and remotely monitor physiological parameters. In 2021, Amazon Care will introduce telehealth services in 80 US states, providing high-quality medical care and guidance to individuals and families. According to data reported by the New England Journal of Medicine (NEJM) Catalyst, non-profit health insurance will launch telemedicine in 2021 to increase patient access and affordability. Verizon also introduced BlueJHeans Telehealth to improve its healthcare system. BlueJheans is a video conferencing application that allows patients to pre-fill questionnaires prior to their visit. Therefore, the increase in digital health adoption is expected to provide an opportunity to expand the digital health market share.
Key Digital Healthcare Market Restraints
Cyber security and privacy issues.
Key Digital Healthcare Market Challenge
Digital health technology cannot deliver the results it promises.
Digital Healthcare Market report scope:
|Units||Value (USD Billion)
|Growth Rate||CAGR of 23.7% from 2023 to 2030|
|By Delivery Mode||
|By End User
|By Companies||Insight Timer, Headspace, Calm, YOGAGLO, Enso Meditation Timer & Bell, Allscripts Healthcare LLC (US), BioTelemetry Inc. (US), Cerner Corporation (US), Cisco Systems Inc (US), Koninklijke Philips NV (The Netherlands), McKesson Corporation (US), General Electric Company (US, AT&T Inc. (US), Athenahealth Inc. (US), EClinicalWorks (US), iHealth Lab Inc. (US), Qualcomm Technologies Inc. (US), and Others.|
|Reasons to Purchase this Report||
Key Takeaways from this Digital Healthcare Report
- Estimate Digital Healthcare market potential by analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at the country level - for product types, applications, and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness to your processes.
- Know the different dynamics affecting the market - challenges, key driving factors, and opportunities.
- Get a quick viewpoint on the Digital Healthcare market entropy - M&A's, deals, partnerships, and product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data, and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.