Digital Health Market Forecasts to 2028 – Global Analysis By Therapy Type (Preventive, Curative), Solution (Combination Solution, Gaming Solution), Modality (Wired, Wireless ) and By Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2021) |
US $113.00 BN |
|
Projected Year Value (2028) |
US $341.17 BN |
|
CAGR (2021 - 2028) |
17.1% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Digital Health Market is accounted for $113.00 billion in 2021 and is expected to reach $341.17 billion by 2028 growing at a CAGR of 17.1% during the forecast period. Digital health includes digital care programs which are convergence of digital technologies with health, healthcare, living, and society to enhance the efficiency of healthcare delivery to make medicine more personalized and precise. It refers to the application of modern technologies and digital services to improve the health and medical condition among individuals. Digital health allows medical practitioners to diagnose the disease early and there by offering better treatment to the patients. The field of digital health is wide and it includes remote patient monitoring, ingestible sensors, wearable gadgets, electronic medical records, and many others. Digital health field has managed to help patients in monitoring and managing the well-being health conditions and to reduce the overall healthcare costs.
Market Dynamics:
Driver:
Growing Demand for Mobile Health Apps
The impending of mobile apps is being used to advance patient treatment in a range of ways, comprising employing wearable’s, diagnosing illness, and ingestible sensors. It has become increasingly reliant on smart devices now that have entered the digital world. People continue to rely on smartphones to manage calendars, coordinate work and business operations, keep informed and connected through social media, and arrange doctor visits and healthcare check-ups. Healthcare app development has become both a need and a luxury. The healthcare industry has seen significant changes as a result of technology advancements and meddling. Mobile app development has aided in the evolution of the healthcare sector in recent years. The COVID-19 pandemic is still on-going, and healthcare mobile apps have paved the path for great growth during this time of crisis, transforming people's perceptions of the health industry worldwide.
Restraint:
High Cost
High costs related to huge equipped systems such as EHR/EMR and revenue cycle management systems are predicted to hamper the growth of the market. The cost of an EHR system varies between provinces and depends on the type of EHR system (web-based and cloud-based). The overall cost associated with the adoption of EHR systems can be divided into components such as hardware (computers, database servers, scanners, etc.), software, installation, training, and maintenance.
Opportunity:
Growing Use of Smartphones and Other Mobile Applications
There has been an incredible increase in the use of smartphones by physicians in the U.S. foremost to increase the practice of digital health. The penetration of smartphones, tablets, and other mobile platforms is one-third among all U.S. adults, with physicians adopting them twice as compared as the general population. For instance, it is poised that more than a billion people globally own a mobile device, out of which over half of them are smartphones. This has led to the massive growth of mobile applications for healthcare needs, thereby fuelling the industry's progression.
Threat:
Security Concerns Concerning Patient Data
Security concerns concerning patient data may threaten the industry's value. The execution of digital health solutions such as electronic health records, e-prescriptions, and medical apps require stringent data security. A breach in data security can result in incurring huge losses of critical and confidential information including medical records, which often contain social security numbers, insurance IDs, addresses, and medical details, hence, adversely affecting the reputation and results of operations. Common cyber security threats include uncoordinated individual attempts to gain unauthorized access to information technology systems that are directed at the physicians, hospitals, customers, and its third-party service providers.
Services segment is expected to be the largest during the forecast period
Service segment is accredited to the significant rise in the software upgradation along with rapid advancements in various software and hardware. These services comprise training & integration, installation, and upgradation. Besides, the numerous companies are focusing on services based activities such as training & integration, installation, and up-gradation that have augmented the market growth in the study period. Increasing investment on digital healthcare infrastructure predominantly in the developing countries drives the demand for services during the upcoming years. Furthermore, growing demand for platforms such as Electronic Health Records (EHR) that further propels the demand for service as most of the companies are prominently focusing on acquiring post-installation services such as staffing, optimization, training, and many other services.
The mHealth segment is expected to have the highest CAGR during the forecast period
The mhealth segment is going to have lucrative growth during the forecast period as mhealth technologies aid healthcare organizations in decreasing medical costs and offer remote patient monitoring, so the need for visiting hospitals frequently is eliminated moreover mhealth assists in wellness and disease management, thereby leading to its increasing demand.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to growing spending on healthcare infrastructure and software to promote awareness among the public. The rising penetration of smartphones, growing government spending on the up-gradation of the healthcare industry, and rising consciousness regarding digital health are stimulating the market growth. Moreover, rising smartphone penetration, growing acceptance of smart wearable devices, and a surge in demand for EMRs and EHRs are contributing to the growth of the regional market. Furthermore, countries, such as Malaysia and Japan, have already established a national warehouse that enables data sharing between public hospitals. Additionally, the increasing demand for remote patient monitoring and related services owing to increasing government are spending on healthcare is anticipated to propel market growth.
Region with highest CAGR:
North America is projected to have the highest CAGR, North America is going to have high growth during the forecast period, as there is the surging implementation of digital health solutions, improvements in the healthcare infrastructure in North American provinces, and many initiatives are being taken by numerous government associations for implementing this technology in healthcare settings, which in turn results in the rise in healthcare spending drives the regional domain. Moreover, the growing usage of mHealth apps coupled with rapid usage of wireless & mobile health services accelerates the market expansion.
Key players in the market:
Some of the key players profiled in the Digital Health Market include 3M, Apple, Inc., athenahealth Inc, Cerner Corporation, Cisco Systems Inc, Cognizant, eClinicalWorks LLC, General Electric Company, IBM Corporation, Koninklijke Philips N.V., Microsoft, Qualcomm Incorporated, Samsung Electronics Co., Ltd., Siemens AG, Vodafone Group, AT&T, Philips, Patchai.
Key developments:
In November 2021: Patchai, an Italy-based digital health technology startup, acquired by Alira Health. Patchai provides intelligent digital health solutions that engage and empower patients in clinical research and care pathways, allowing patients to better manage their health conditions, improve adherence to study protocols and care plans, and provide clinicians with robust, real-time data to help them deliver better care.
In March 2020: AT&T partnered with LifedMedID and Elo Self-Service Solutions. The partnership aimed to streamline patient registrations and check-in-solution. This strategic alliance extends AT&T’s edge-to-edge digital healthcare solutions to enhance the patient outcome, thereby strengthening its market presence.
In February 2021: Philips acquired of BioTelemetry, Inc., a leading U.S.-based provider of remote cardiac diagnostics and monitoring. This acquisition strategy is expected to help Phillips expand their business portfolio in the market as well as customer base..
Therapy Types Covered:
• Preventive
• Curative
Type of Solutions Covered:
• Combination Solution
• Gaming Solution
• Software Solution
Modality’s Covered:
• Wired
• Wireless
Purpose of Solutions Covered:
• Medication Augmentation
• Medication Replacement
Types Covered:
• Integrated Health Information Exchange Networks (HIE/EHR)
• Clinical Information System (CIS)
• Hospital Information System (HIS)
• Secondary-Usage Non-Clinical Systems
• General Practitioner (GP) or Specialty Systems
Components Covered:
• Hardware
• Software
• Services
Delivery Modes Covered:
• On-Premise
• Cloud
Technology’s Covered:
• Tele-Healthcare
• Health Analytics
• Hospital Information System (HIS)
• Population Health Management
• Mobile Health
• Telemedicine
• Digital Health System
• E-Prescribing System
• mHealth
Applications Covered:
• Diabetes
• Cardiology
• Oncology
• Neurology
• Human Estrogen Receptor (HER)
Sales Channels Covered:
• Business-to-Business (B2B)
• Business-to-Consumers (B2C)
End Users Covered:
• Hospitals
• Pharmaceutical Companies
• Ambulatory Surgery Centres
• Homecare settings
• Individuals
• Gyms
• Clinics
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Technology Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Digital Health Market, By Therapy Type
5.1 Introduction
5.2 Preventive
5.3 Curative
6 Global Digital Health Market, By Type of Solution
6.1 Introduction
6.2 Combination Solution
6.3 Gaming Solution
6.4 Software Solution
7 Global Digital Health Market, By Modality
7.1 Introduction
7.2 Wired
7.3 Wireless
8 Global Digital Health Market, By Purpose of Solution
8.1 Introduction
8.2 Medication Augmentation
8.3 Medication Replacement
9 Global Digital Health Market, By Type
9.1 Introduction
9.2 Integrated Health Information Exchange Networks (HIE/EHR)
9.3 Clinical Information System (CIS)
9.4 Hospital Information System (HIS)
9.5 Secondary-Usage Non-Clinical Systems
9.5.1 Care Analytics
9.5.2 Public Health and Research
9.6 General Practitioner (GP) or Specialty Systems
10 Global Digital Health Market, By Component
10.1 Introduction
10.2 Hardware
10.3 Software
10.4 Services
10.4.1 Mobile Device
10.4.2 Big Data Analytics
10.4.3 Healthcare Mobility
11 Global Digital Health Market, By Delivery Mode
11.1 Introduction
11.2 On-Premise
11.3 Cloud
12 Global Digital Health Market, By Technology
12.1 Introduction
12.2 Healthcare Information Systems
12.2.1 Non-Clinical Solutions
12.2.2 Clinical Solutions
12.2.2.1 Computerized Physician Order Entry (CPOE)
12.2.2.2 Clinical Decision Support System (CDSS)
12.3 Tele-Healthcare
12.3.1 Telehealth
12.3.1.1 Long-Term Care (LTC) Monitoring
12.3.1.2 Video Consultation
12.3.2 Telecare
12.3.2.1 Remote Medication Management
12.3.2.2 Activity Monitoring
12.4 Health Analytics
12.4.1 Prescriptive
12.4.2 Predictive
12.4.3 Descriptive
12.5 Population Health Management
12.6 Mobile Health
12.7 Telemedicine
12.7.1 Telemonitoring
12.7.2 Teletraining
12.7.3 Teleconsulting
12.7.4 Tele-Education
12.8 Digital Health System
12.8.1 Electronic Health Records (EHRs) / Electronic Medical Records (EMRs)
12.8.1.1 Web/Cloud-Based
12.8.1.2 On-Premises
12.9 E-Prescribing System
12.10 mHealth
12.10.1 Wearables
12.10.1.1 Pulse Oximeter
12.10.1.2 Activity Trackers/Actigraphs
12.10.1.3 Glucose Meter
12.10.1.4 Neurological Monitors
12.10.1.5 Sleep Apnea Monitors
12.10.1.6 Blood Pressure (BP) Monitors
12.10.1.7 Digital Therapeutic Devices
12.10.1.7.1 Respiratory Therapy Devices
12.10.1.7.2 Rehabilitation Devices
12.10.1.7.3 Pain Management Devices
12.10.1.7.4 Insulin Pumps
12.10.1.8 Diagnostic and Monitoring Devices
12.10.2 mHealth Apps
12.10.2.1 Medical Apps
12.10.2.2 Wellness Apps
12.10.2.3 Reminders and Alerts
12.10.2.4 Fitness Apps
12.10.2.5 Remote Consultation
12.10.2.6 Medical Condition Management
12.10.2.7 Nutrition
12.10.2.8 Services
12.10.2.8.1 Diagnosis Services
12.10.2.8.2 Monitoring Services
12.10.2.8.2.1 Chronic Disease Management & Post-Acute Care Services
12.10.2.8.2.2 Independent Aging Solutions
12.10.2.9 Healthcare Systems Strengthening Services
12.10.2.10 Participants
12.10.2.10.1 Healthcare Providers
12.10.2.10.2 Content Players
12.10.2.10.3 Mobile Operators
12.10.2.10.4 Device Vendors
12.10.3 Connected Medical Devices
13 Global Digital Health Market, By Application
13.1 Introduction
13.2 Diabetes
13.3 Cardiology
13.4 Oncology
13.5 Neurology
13.6 Human Estrogen Receptor (HER)
14 Global Digital Health Market, By Sales Channel
14.1 Introduction
14.2 Business-to-Business (B2B)
14.2.1 Employers
14.2.2 Wellness Centers
14.2.3 Fitness Centers
14.3 Business-to-Consumers (B2C)
14.3.1 Patients
14.3.2 Caregivers
15 Global Digital Health Market, By End User
15.1 Introduction
15.2 Hospitals
15.2.1 Government Hospitals
15.2.2 Specialty Hospitals
15.2.3 General Hospitals
15.3 Pharmaceutical Companies
15.4 Ambulatory Surgery Centres
15.5 Homecare settings
15.6 Individuals
15.7 Gyms
15.8 Clinics
16 Global Digital Health Market, By Geography
16.1 Introduction
16.2 North America
16.2.1 US
16.2.2 Canada
16.2.3 Mexico
16.3 Europe
16.3.1 Germany
16.3.2 UK
16.3.3 Italy
16.3.4 France
16.3.5 Spain
16.3.6 Rest of Europe
16.4 Asia Pacific
16.4.1 Japan
16.4.2 China
16.4.3 India
16.4.4 Australia
16.4.5 New Zealand
16.4.6 South Korea
16.4.7 Rest of Asia Pacific
16.5 South America
16.5.1 Argentina
16.5.2 Brazil
16.5.3 Chile
16.5.4 Rest of South America
16.6 Middle East & Africa
16.6.1 Saudi Arabia
16.6.2 UAE
16.6.3 Qatar
16.6.4 South Africa
16.6.5 Rest of Middle East & Africa
17 Key Developments
17.1 Agreements, Partnerships, Collaborations and Joint Ventures
17.2 Acquisitions & Mergers
17.3 New Product Launch
17.4 Expansions
17.5 Other Key Strategies
18 Company Profiling
18.1 3M
18.2 Apple, Inc.
18.3 athenahealth Inc.
18.4 Cerner Corporation
18.5 Cisco Systems Inc.
18.6 Cognizant
18.7 eClinicalWorks LLC
18.8 General Electric Company
18.9 IBM Corporation
18.10 Koninklijke Philips N.V.
18.11 Microsoft
18.12 Qualcomm Incorporated
18.13 Samsung Electronics Co., Ltd.
18.14 Siemens AG
18.15 Vodafone Group
18.16 AT&T
18.17 Philips
18.18 Patchai
List of Tables
1 Global Digital Health Market Outlook, By Region (2020-2028) (US $MN)
2 Global Digital Health Market Outlook, By Therapy Type (2020-2028) (US $MN)
3 Global Digital Health Market Outlook, By Preventive (2020-2028) (US $MN)
4 Global Digital Health Market Outlook, By Curative (2020-2028) (US $MN)
5 Global Digital Health Market Outlook, By Type of Solution (2020-2028) (US $MN)
6 Global Digital Health Market Outlook, By Combination Solution (2020-2028) (US $MN)
7 Global Digital Health Market Outlook, By Gaming Solution (2020-2028) (US $MN)
8 Global Digital Health Market Outlook, By Software Solution (2020-2028) (US $MN)
9 Global Digital Health Market Outlook, By Modality (2020-2028) (US $MN)
10 Global Digital Health Market Outlook, By Wired (2020-2028) (US $MN)
11 Global Digital Health Market Outlook, By Wireless (2020-2028) (US $MN)
12 Global Digital Health Market Outlook, By Purpose of Solution (2020-2028) (US $MN)
13 Global Digital Health Market Outlook, By Medication Augmentation (2020-2028) (US $MN)
14 Global Digital Health Market Outlook, By Medication Replacement (2020-2028) (US $MN)
15 Global Digital Health Market Outlook, By Type (2020-2028) (US $MN)
16 Global Digital Health Market Outlook, By Integrated Health Information Exchange Networks (HIE/EHR) (2020-2028) (US $MN)
17 Global Digital Health Market Outlook, By Clinical Information System (CIS) (2020-2028) (US $MN)
18 Global Digital Health Market Outlook, By Hospital Information System (HIS) (2020-2028) (US $MN)
19 Global Digital Health Market Outlook, By Secondary-Usage Non-Clinical Systems (2020-2028) (US $MN)
20 Global Digital Health Market Outlook, By Care Analytics (2020-2028) (US $MN)
21 Global Digital Health Market Outlook, By Public Health and Research (2020-2028) (US $MN)
22 Global Digital Health Market Outlook, By General Practitioner (GP) or Specialty Systems (2020-2028) (US $MN)
23 Global Digital Health Market Outlook, By Component (2020-2028) (US $MN)
24 Global Digital Health Market Outlook, By Hardware (2020-2028) (US $MN)
25 Global Digital Health Market Outlook, By Software (2020-2028) (US $MN)
26 Global Digital Health Market Outlook, By Services (2020-2028) (US $MN)
27 Global Digital Health Market Outlook, By Mobile Device (2020-2028) (US $MN)
28 Global Digital Health Market Outlook, By Big Data Analytics (2020-2028) (US $MN)
29 Global Digital Health Market Outlook, By Healthcare Mobility (2020-2028) (US $MN)
30 Global Digital Health Market Outlook, By Delivery Mode (2020-2028) (US $MN)
31 Global Digital Health Market Outlook, By On-Premise (2020-2028) (US $MN)
32 Global Digital Health Market Outlook, By Cloud (2020-2028) (US $MN)
33 Global Digital Health Market Outlook, By Technology (2020-2028) (US $MN)
34 Global Digital Health Market Outlook, By Healthcare Information Systems (2020-2028) (US $MN)
35 Global Digital Health Market Outlook, By Non-Clinical Solutions (2020-2028) (US $MN)
36 Global Digital Health Market Outlook, By Clinical Solutions (2020-2028) (US $MN)
37 Global Digital Health Market Outlook, By Tele-Healthcare (2020-2028) (US $MN)
38 Global Digital Health Market Outlook, By Telehealth (2020-2028) (US $MN)
39 Global Digital Health Market Outlook, By Telecare (2020-2028) (US $MN)
40 Global Digital Health Market Outlook, By Health Analytics (2020-2028) (US $MN)
41 Global Digital Health Market Outlook, By Prescriptive (2020-2028) (US $MN)
42 Global Digital Health Market Outlook, By Predictive (2020-2028) (US $MN)
43 Global Digital Health Market Outlook, By Descriptive (2020-2028) (US $MN)
44 Global Digital Health Market Outlook, By Population Health Management (2020-2028) (US $MN)
45 Global Digital Health Market Outlook, By Mobile Health (2020-2028) (US $MN)
46 Global Digital Health Market Outlook, By Telemedicine (2020-2028) (US $MN)
47 Global Digital Health Market Outlook, By Telemonitoring (2020-2028) (US $MN)
48 Global Digital Health Market Outlook, By Teletraining (2020-2028) (US $MN)
49 Global Digital Health Market Outlook, By Teleconsulting (2020-2028) (US $MN)
50 Global Digital Health Market Outlook, By Tele-Education (2020-2028) (US $MN)
51 Global Digital Health Market Outlook, By Digital Health System (2020-2028) (US $MN)
52 Global Digital Health Market Outlook, By Electronic Health Records (EHRs) / Electronic Medical Records (EMRs) (2020-2028) (US $MN)
53 Global Digital Health Market Outlook, By E-Prescribing System (2020-2028) (US $MN)
54 Global Digital Health Market Outlook, By mHealth (2020-2028) (US $MN)
55 Global Digital Health Market Outlook, By Wearables (2020-2028) (US $MN)
56 Global Digital Health Market Outlook, By mHealth Apps (2020-2028) (US $MN)
57 Global Digital Health Market Outlook, By Connected Medical Devices (2020-2028) (US $MN)
58 Global Digital Health Market Outlook, By Application (2020-2028) (US $MN)
59 Global Digital Health Market Outlook, By Diabetes (2020-2028) (US $MN)
60 Global Digital Health Market Outlook, By Cardiology (2020-2028) (US $MN)
61 Global Digital Health Market Outlook, By Oncology (2020-2028) (US $MN)
62 Global Digital Health Market Outlook, By Neurology (2020-2028) (US $MN)
63 Global Digital Health Market Outlook, By Human Estrogen Receptor (HER) (2020-2028) (US $MN)
64 Global Digital Health Market Outlook, By Sales Channel (2020-2028) (US $MN)
65 Global Digital Health Market Outlook, By Business-to-Business (B2B) (2020-2028) (US $MN)
66 Global Digital Health Market Outlook, By Employers (2020-2028) (US $MN)
67 Global Digital Health Market Outlook, By Wellness Centers (2020-2028) (US $MN)
AAA68 Global Digital Health Market Outlook, By Fitness Centers (2020-2028) (US $MN)
69 Global Digital Health Market Outlook, By Business-to-Consumers (B2C) (2020-2028) (US $MN)
70 Global Digital Health Market Outlook, By Patients (2020-2028) (US $MN)
71 Global Digital Health Market Outlook, By Caregivers (2020-2028) (US $MN)
72 Global Digital Health Market Outlook, By End User Caregivers (2020-2028) (US $MN)
73 Global Digital Health Market Outlook, By Hospitals Caregivers (2020-2028) (US $MN)
74 Global Digital Health Market Outlook, By Government Hospitals Caregivers (2020-2028) (US $MN)
75 Global Digital Health Market Outlook, By Specialty Hospitals Caregivers (2020-2028) (US $MN)
76 Global Digital Health Market Outlook, By General Hospitals Caregivers (2020-2028) (US $MN)
77 Global Digital Health Market Outlook, By Pharmaceutical Companies Caregivers (2020-2028) (US $MN)
78 Global Digital Health Market Outlook, By Ambulatory Surgery Centres Caregivers (2020-2028) (US $MN)
79 Global Digital Health Market Outlook, By Homecare settings Caregivers (2020-2028) (US $MN)
80 Global Digital Health Market Outlook, By Individuals Caregivers (2020-2028) (US $MN)
81 Global Digital Health Market Outlook, By Gyms Caregivers (2020-2028) (US $MN)
82 Global Digital Health Market Outlook, By Clinics Caregivers (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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