DUBLIN–(BUSINESS WIRE)–The “Global Digital Health Market Report and Forecast 2023-2031” report has been added to ResearchAndMarkets.com’s offering.
The global digital health market value in 2022 was USD 227.5 billion driven by the rising demand for remote healthcare services across the globe. The market size is anticipated to grow at a CAGR of 16.1% during the forecast period of 2023-2031 to achieve a value of USD 872.2 billion by 2031.
Digital Health Introduction
Digital health is a rapidly growing field at the intersection of healthcare and technology, aiming to enhance patient care, improve health outcomes, and reduce healthcare costs. With advancements in technologies such as artificial intelligence, big data, telemedicine, and wearable devices, digital health is transforming the way healthcare is delivered and managed.
The global digital health market encompasses a broad range of applications, including electronic health records (EHRs), telehealth, mobile health (mHealth), health analytics, and personalized medicine.
Digital Health Market Scenario
North America is currently the largest market for digital health, followed by Europe, due to factors such as a well-developed healthcare infrastructure, widespread adoption of digital health technologies, and favorable government policies. However, the Asia-Pacific region is expected to witness the highest growth rate, driven by factors such as increasing internet penetration, growing demand for quality healthcare, and rising government support for digital health initiatives.
Despite the growth and potential of the digital health market, there are challenges such as data privacy concerns, cybersecurity threats, and regulatory hurdles. Additionally, the integration of digital health technologies into existing healthcare systems and the need for user-friendly solutions pose further challenges. However, these challenges also present opportunities for innovation and improvement in digital health technologies and their adoption across the healthcare sector.
Market Segmentation
by Product and Services
mHealth
- By Type
- mHealth Apps
- Healthcare Apps
- Medication Management Apps
- mHealth Devices
- Blood Glucose Monitors
- Cardiac Monitors
- Hemodynamic Monitors
- Neurological Monitors
- Respiratory Monitors
- Body and Temperature Monitors
- Remote Patient Monitoring Devices
- Other Devices
mHealth Services
- Treatment Services
- Independent Aging Solutions
- Chronic Disease Management
- Diagnostic Services
- Monitoring Services
- Remote Patient Monitoring Devices
- Medical Call Centers Manned by Healthcare Professionals
- Teleconsultation
- Post Acute Care Services
- Wellness and Fitness Solutions
- Other Services
eHealth
- By Type
- Electric Health Records
- Laboratory Information System
- Telehealth
- Prescribing Solutions
- Medical Apps
- Clinical Decision Systems (CDSS)
- Pharmacy Information Systems
- Others
by Components
- Software
- Hardware
- Services
by Applications
- Cardiology
- Diabetes
- Neurology
- Sleep Apnea
- Oncology
- Others
by End User
- Healthcare Providers
- Healthcare Consumers
- Payers
- Others
Key Drivers of the Digital Health Market
The growth of the digital health market is driven by factors such as:
- Increasing adoption of smartphones, wearable devices, and IoT in healthcare
- Growing demand for remote healthcare services, particularly during the COVID-19 pandemic
- The shift towards value-based and patient-centered care models
- Investments and funding from both public and private sectors to support digital health initiatives
- An aging global population and the rising prevalence of chronic diseases, requiring more efficient healthcare management
Competitor Landscapes
The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
- Koninklijke Philips N.V
- Abbott
- Medtronic
- Apple, Inc
- AirStrip Technologies Inc
- AliveCor India
- Omron Corporation
- BioTelemetry, a Philips Company
- Athenahealth, Inc
- AgaMatrix
- Withings
- iHealth Labs, Inc
- Cerner Corporation
- ZTE Corporation
- Cisco Systems, Inc
- AT&T Intellectual Property
- Qualcomm Technologies, Inc
For more information about this report visit https://www.researchandmarkets.com/r/g3efjk
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