Digital Health

Digital Health Market Value is Poised to Reach Around US$ 551.1 Billion by 2027

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The digital health market size accounted for US$ 181.8 billion in 2020 and is estimated to reach US$ 551.1 billion by 2027 and is anticipated to register a CAGR of 16.5% from 2020 to 2027.

The report provides the overall revenue of the global digital health market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. Increasing penetration of smartphones along with numerous smartphone applications related to health and fitness across the globe is expected to be a key factor that drives the market growth.

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Growth Factors

Significant increase in the number of healthcare apps is one of the major factors that contribute to propel the market growth. For instance, as per the data published by myhealthapps blog in 2017, there were nearly 325,000 health, medical, and fitness related mobile apps in the market. Where, health apps promote more effective and efficient communication between healthcare service providers and patients those are living in remote areas.

Moreover, the implementation of mobile devices is more common among the physicians. For example, according to HIMSS Mobile Technology Survey, conducted in the year 2015, 90% of the respondents were using mobile apps for patient engagement. In addition to this, nearly 40% of physicians believed that mHealth can significantly reduce the frequency of patient visits to the offices. Hence, increasing importance of mHealth and mobile devices in order to improve health outcomes along with patient care expected to positively influence the market growth.

Technological advancements and favorable initiatives for developing attractive digital solutions are the other key factors that estimated to drive the market growth. For example, in October 2015, AirRater, a health analytics app was introduced in Tasmania to track signs of people as well as to alert them regarding the air-borne pollutants, such as pollen. However, data breach and security issue that is a major concern among the consumer that anticipated hampering the market growth over the forecast timeframe. Nonetheless, increasing penetration of analytics platform estimated to prosper the market growth over the coming years.

Scope of the Digital Health Market Report

Report Highlights Details
Market Size in 2027 USD 551.1 billion
Growth Rate CAGR of 16.5% From 2020 to 2027
Base Year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2027
Segments Covered Components, Products
Regional Scope North America, APAC, Europe, Latin America, MEAN, Rest of the World
Companies Mentioned BioTelemetry Inc, eClinicalWorks, Allscripts Healthcare Solutions Inc, iHealth Lab Inc, AT & T, Honeywell International Inc, Athenahealth Inc., Cisco Systems, McKesson Corporation, Koninklijke Philips N.V., AdvancedMD Inc.

Report Highlights

  • North America dominated the market with a revenue share of around 40% in 2019 due to increasing number of geriatric population and rising prevalence of chronic diseases across the region
  • The Asia Pacific exhibits the fastest growth over the forecast timeframe owing to increasing spending on healthcare infrastructure and software to promote awareness among the public
  • Based on component, services captured the major market revenue accounting for nearly half of the market share in 2019 due to the significant rise in the software upgradation
  • Software accounted for nearly 35% of the total market value and expected to show robust growth over the forthcoming years because of increasing demand for healthcare software, fitness apps, and various healthcare analytics platform
  • In 2019, mHealth held the leading market position and accounted for a revenue share of more than 55% due to the rising penetration of internet and smartphones across the globe
  • Health analytics expected to be the fastest growing segment over the forecast timeframe because of increasing advancements in the analytics platforms

Related Reports

  • Digital Therapeutics Market – The global market was valued at US$ 2.69 billion in 2019 and expected to reach US$ 11.82 billion by 2027, with at a compound annual growth rate (CAGR) of 20.3% during the forecast period 2020 to 2027.
  • Medical Affairs Outsourcing Market – The global market was valued at US$ 1.43 billion in 2019 and predicted to register a compound annual growth rate (CAGR) of around 10.75% during period 2020 to 2027.

Key Players & Strategies

The digital health industry is highly competitive in nature because of large number of market players investing significantly in the product development and advancement. Healthcare analytics and integration of artificial intelligence, big data, and other analytics platform are the prominent factor that drives the innovation within the market. For instance, in March 2017, McKesson Corporation completed the agreement with Change Healthcare Holdings, Inc. and announced to introduce a new healthcare IT company with name as Change Healthcare.

Some of the prominent players in the digital health market include:

  • BioTelemetry Inc
  • eClinicalWorks
  • Allscripts Healthcare Solutions Inc
  • iHealth Lab Inc
  • AT & T
  • Honeywell International Inc
  • Athenahealth Inc.
  • Cisco Systems
  • McKesson Corporation
  • Koninklijke Philips N.V.
  • AdvancedMD Inc.
  • Cerner Corporation

Segments Covered in the Report

This research study comprises complete assessment of the market by means of far-reaching qualitative and quantitative perceptions, and predictions regarding the market. This report delivers classification of marketplace into impending and niche sectors. Further, this research study calculates market size and its development drift at global, regional, and country from 2016 to 2027. This report contains market breakdown and its revenue estimation by classifying it on the basis of component, technology, and region:

By Component

  • Software
  • Hardware
  • Services

By Technology

  • Telehealthcare
    • Telehealth
      • Video Consultation
      • LTC Monitoring
    • Telecare
      • Remote Medication Management
      • Activity Monitoring
  • mHealth
    • Apps
      • Fitness Apps
      • Medical Apps
    • Wearables
      • Glucose Meter
      • BP Monitor
      • Pulse Oximeter
      • Neurological Monitors
      • Sleep Apnea Monitor
      • Others
  • Digital Health Systems
    • E-prescribing Systems
    • Electronic Health Records
  • Health Analytics

By Regional Outlook

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

TABLE OF CONTENT

Chapter 1    Introduction

1.1    Research objective
1.2    Scope of the study

Chapter 2    Research Methodology

2.1    Research Approach
2.2    Market Research Process
2.2.1    Data procurement and data mining
2.2.2    Data analysis and standardization
2.2.3    Data processing and market formulation
2.2.4    Data validation
2.3    Market Research Approach1
2.4    Data Sources
2.4.1    Secondary Research
2.4.2    Primary Research
2.5    Assumptions & Limitations

Chapter 3    Executive Summary

3.1    Market snapshot

Chapter 4    Digital Health Market Variables and Scope

4.1    Introduction
4.1.1    Big data
4.1.2    Cloud computing
4.1.3    Connected health
4.1.4    eHealth
4.1.5    ePatients
4.1.6    Gamification
4.2    Market classification and scope

Chapter 5    COVID-19 Impact on Digital Health Market

5.1    COVID-19: Digital health industry impact
5.1.1    Immediate outbreak response
5.1.2    Impact mitigation
5.1.3    Growth opportunities

Chapter 6    Digital Health Market Dynamics Analysis and Trends

6.1    Market dynamics
6.1.1    Market drivers
6.1.1.1    Rising demand for mobile health apps
6.1.1.2    Rising penetration of Artificial Intelligence (AI), Internet of Things (IoT), and Big Data
6.1.1.2.1    Internet of Things (IoT)
6.1.1.2.2    Big Data
6.1.1.3    Artificial Intelligence (AI)
6.1.1.4    Converging AI, IoT, and Big Data in healthcare
6.1.2    Market restraint
6.1.2.1    Healthcare cybersecurity is a major restraint to the global digital health market
6.1.3    Market opportunities
6.1.3.1    Increasing penetration of digital health in emerging economies
6.2    Digital health supply chain analysis

Chapter 7    Global Digital Health Market, By Technology

7.1    Digital health market, by technology, 2016-2027
7.1.1    Market estimation and forecast, by technology, 2016-2027
7.2    Tele healthcare
7.2.1    Tele healthcare market estimation and forecast, by type, 2016-2027
7.3    mHealth
7.3.1    mHealth market estimation and forecast, by type, 2016-2027
7.4    Healthcare analytics
7.5    Digital health systems
7.5.1    Digital health systems market estimation and forecast, by type, 2016-2027

Chapter 8    Global Digital Health Market, By Component

8.1    Digital health market, by component, 2016-2027
8.1.1    Market estimation and forecast, by component, 2016-2027
8.2    Software
8.3    Hardware
8.4    Services

Chapter 9    Global Digital Health Market, By Region

9.1    Digital health market, by region, 2016-2027
9.1.1    Market estimation and forecast, by region, 2016-2027
9.2    North America
9.2.1    North America market estimation and forecast, by component, 2016-2027 (USD Billion)
9.2.2    North America market estimation and forecast, by technology, 2016-2027
9.2.3    US    58
9.2.3.1    US market estimation and forecast, by component, 2016-2027
9.2.3.2    US market estimation and forecast, by technology, 2016-2027
9.2.4    Rest of North America    60
9.2.4.1    Rest of North America market estimation and forecast, by component, 2016-2027
9.2.4.2    Rest of North America market estimation and forecast, by technology, 2016-2027
9.3    Europe
9.3.1    Europe market estimation and forecast, by component, 2016-2027
9.3.2    Europe market estimation and forecast, by technology, 2016-2027
9.3.3    Germany
9.3.3.1    Germany market estimation and forecast, by component, 2016-2027
9.3.3.2    Germany market estimation and forecast, by technology, 2016-2027
9.3.4    UK
9.3.4.1    UK market estimation and forecast, by component, 2016-2027 (USD Million)
9.3.4.2    UK market estimation and forecast, by technology, 2016-2027 (USD Million)
9.3.5    France
9.3.5.1    France market estimation and forecast, by component, 2016-2027
9.3.5.2    France market estimation and forecast, by technology, 2016-2027
9.3.6    Rest of Europe
9.3.6.1    Rest of Europe market estimation and forecast, by component, 2016-2027
9.3.6.2    Rest of Europe market estimation and forecast, by technology, 2016-2027
9.4    Asia Pacific
9.4.1    Asia Pacific market estimation and forecast, by component, 2016-2027
9.4.2    Asia Pacific market estimation and forecast, by technology, 2016-2027
9.4.3    China
9.4.3.1    China market estimation and forecast, by component, 2016-2027
9.4.3.2    China market estimation and forecast, by technology, 2016-2027
9.4.4    Japan
9.4.4.1    Japan market estimation and forecast, by component, 2016-2027
9.4.4.2    Japan market estimation and forecast, by technology, 2016-2027
9.4.5    India
9.4.5.1    India market estimation and forecast, by component, 2016-2027
9.4.5.2    India market estimation and forecast, by technology, 2016-2027
9.4.6    Southeast Asia
9.4.6.1    Southeast Asia market estimation and forecast, by component, 2016-2027
9.4.6.2    Southeast Asia market estimation and forecast, by technology, 2016-2027
9.4.7    Rest of Asia Pacific
9.4.7.1    Rest of Asia Pacific market estimation and forecast, by component, 2016-2027
9.4.7.2    Rest of Asia Pacific market estimation and forecast, by technology, 2016-2027
9.5    Latin America
9.5.1    Latin America market estimation and forecast, by component, 2016-2027
9.5.2    Latin America market estimation and forecast, by technology, 2016-2027 (USD Billion)
9.5.3    Brazil
9.5.3.1    Brazil market estimation and forecast, by component, 2016-2027 (USD Million)
9.5.3.2    Brazil market estimation and forecast, by technology, 2016-2027
9.5.4    Rest of Latin America
9.5.4.1    Rest of Latin America market estimation and forecast, by component, 2016-2027 (USD Million)
9.5.4.2    Rest of Latin America market estimation and forecast, by technology, 2016-2027
9.6    Middle East & Africa
9.6.1    Middle East & Africa market estimation and forecast, by component, 2016-2027
9.6.2    Middle East & Africa market estimation and forecast, by technology, 2016-2027
9.6.3    GCC
9.6.3.1    GCC market estimation and forecast, by component, 2016-2027
9.6.3.2    GCC market estimation and forecast, by technology, 2016-2027 (USD Million)
9.6.4    South Africa
9.6.4.1    South Africa market estimation and forecast, by component, 2016-2027
9.6.4.2    South Africa market estimation and forecast, by technology, 2016-2027
9.6.5    North Africa
9.6.5.1    North Africa market estimation and forecast, by component, 2016-2027 (USD Million)
9.6.5.2    North Africa market estimation and forecast, by technology, 2016-2027
9.6.6    Rest of MEA
9.6.6.1    Rest of MEA market estimation and forecast, by component, 2016-2027 (USD Million)
9.6.6.2    Rest of MEA market estimation and forecast, by technology, 2016-2027

Chapter 10    Competitive Landscape

10.1    Company market share/positioning analysis, 2020
10.2    Market players landscape
10.2.1    List of suppliers
10.2.2    List of end-users

Chapter 11    Company Profile

11.1    BioTelemetry Inc.
11.1.1    Company overview
11.1.2    Business outline
11.1.3    Product line
11.1.4    Recent developments
11.2    eClinicalWorks
11.2.1    Company overview
11.2.2    Business outline
11.2.3    Product line
11.2.4    Recent developments
11.3    Allscripts Healthcare Solutions Inc.
11.3.1    Company overview
11.3.2    Business outline
11.3.3    Financial performance
11.3.4    Product line
11.3.5    Recent developments
11.4    iHealth Lab Inc.
11.4.1    Company overview
11.4.2    Business outline
11.4.3    Product line
11.5    Honeywell International Inc.
11.5.1    Company overview
11.5.2    Business outline
11.5.3    Financial performance
11.5.4    Product line
11.5.5    Recent developments
11.6    athenahealth Inc.
11.6.1    Company overview
11.6.2    Business outline
11.6.3    Financial performance
11.6.4    Product line
11.6.5    Recent developments
11.7    Cisco Systems
11.7.1    Company overview
11.7.2    Business outline
11.7.3    Financial performance
11.7.4    Product line
11.7.5    Recent developments
11.8    McKesson Corporation
11.8.1    Company overview
11.8.2    Business outline
11.8.3    Financial performance
11.8.4    Product line
11.8.5    Recent developments
11.9    Koninklijke Philips N.V.
11.9.1    Company overview
11.9.2    Business outline
11.9.3    Financial performance
11.9.4    Product line
11.9.5    Recent developments
11.10    Cerner Corporation
11.10.1    Company overview
11.10.2    Business outline
11.10.3    Financial performance
11.10.4    Product line
11.10.5    Recent developments

Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.

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Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. Email: sales@flairinsight.com

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