This report describes and explains the global digital health market and covers 2016-2021, termed the historic period, and 2021-2026 termed the forecast period, along with further forecasts for the period 2026-2031. The report evaluates the market across each region and for the major economies within each region.
The global digital health market reached a value of nearly $165,031.6 million in 2021, having increased at a compound annual growth rate (CAGR) of 17.6% since 2016. The market is expected to grow from $ 165,031.6 million in 2021 to $372,359.7 million in 2026 at a rate of 17.7%. The market is then expected to grow at a CAGR of 17.3% from 2026 and reach $826,198.8 million in 2031.
Growth in the historic period in the digital health market resulted from a rise in disposable income, increasing government initiatives in the healthcare field, increased internet penetration, adoption of advanced technology in the wake of covid-19 and rapid growth in elderly population. The market was restrained by lack of consumer knowledge, the shortfall of broadband access, and increasing need for data security.
Going forward rising prevalence of chronic diseases, an aging population, demographic shifts in emerging markets, continued technology development, and increasing need for healthcare access will drive the growth in the digital health market. Factors that could hinder the growth of the market in the future include intense competition, technical reliability and improper diagnosis due to incorrect information.
The digital health market is segmented by technology into mobile health (mhealth), health information technology, telehealth and telemedicine, health analytics and other technologies. The telehealth and telemedicine market was the largest segment of the digital health market segmented by technology, accounting for 46.7% of the total in 2021. Going forward, the other technologies is expected to be the fastest growing segment in the digital health market segmented by technology, at a CAGR of 18.8% during 2021-2026.
The digital health market is also segmented by application into cardiology, diabetes, neurology, sleep apnea, oncology, and other applications. The oncology market was the largest segment of the digital health market segmented by application, accounting for 30.4% of the total in 2021. Going forward, diabetes is expected to be the fastest growing segments in the digital health market segmented by application, at a CAGR of 20.0% during 2021-2026.
The digital health market is also segmented by end user into healthcare providers, healthcare payers, pharmaceutical companies and other end users. The healthcare providers market was the largest segment of the digital health market segmented by end users, accounting for 69.4% of the total in 2021. Going forward, healthcare providers, healthcare payers, and pharmaceutical companies are expected to be the fastest growing market segmented by end user, at a CAGR of 17.7% during 2021-2026.
North America was the largest region in the global digital health market, accounting for 39.7% of the total in 2021. It was followed by the Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the digital health market will be South America and, Asia Pacific where growth will be at CAGRs of 19.6% and 19.3% respectively. These will be followed by Middle East and Africa, where the markets are expected to register CAGRs of 18.7% and 18.6% respectively.
The digital health market is highly fragmented, with a large number of regional and small players. The top ten competitors in the market made up to 15.31% of the total market in 2020. Cerner Corporation was the largest competitor with 3.94% of the market, followed by GE Healthcare with 2.75%, Epic Systems Corporation with 2.36%, McKesson Corporation with 2.07%, Allscripts Healthcare Solutions, Inc. with 1.08%, Truven Health Analytics (an IBM Company) with 0.95%, Siemens Healthcare AG with 0.72%, eCLINICALWORKS with 0.72%, and Cisco Systems, Inc. with 0.44% and Koninklijke Philips N.V with 0.28%.
The top opportunities in the digital health market segmented by technology will arise in the telehealth and telemedicine segment, which will gain $92,537.0 million of global annual sales by 2026. The top opportunities in the digital health market segmented by application will arise in the oncology segment, which will gain $66,973.9 million of global annual sales by 2026. The top opportunities in the digital health market segmented by end user will arise in the healthcare providers segment, which will gain $1,43,745.9 million of global annual sales by 2026. The digital health market size will gain the most in the USA at $73,616.0 million.
Market-trend-based strategies for the digital health market include use of augmented reality telecollaboration system, biofeedback APIs, use of blockchain technology, 3D AR surgical navigation, integration of artificial intelligence, and increasing collaborations and partnerships.
Player-adopted strategies in the digital health market include new investments, development of advanced products, launching new digital health software products for independent medical practices, and strategic partnerships and collaborations.
To take advantage of the opportunities, the publisher reccomends the digital health companies to focus on integration of artificial intelligence, focus on collaborations and partnerships, establish operations in emerging markets, implement dynamic pricing, leverage technology to maximize reach, targeting key decision makers in pharmaceutical and medical devices companies and focus on millennials.
The global digital health market reached a value of nearly $165,031.6 million in 2021, having increased at a compound annual growth rate (CAGR) of 17.6% since 2016. The market is expected to grow from $ 165,031.6 million in 2021 to $372,359.7 million in 2026 at a rate of 17.7%. The market is then expected to grow at a CAGR of 17.3% from 2026 and reach $826,198.8 million in 2031.
Growth in the historic period in the digital health market resulted from a rise in disposable income, increasing government initiatives in the healthcare field, increased internet penetration, adoption of advanced technology in the wake of covid-19 and rapid growth in elderly population. The market was restrained by lack of consumer knowledge, the shortfall of broadband access, and increasing need for data security.
Going forward rising prevalence of chronic diseases, an aging population, demographic shifts in emerging markets, continued technology development, and increasing need for healthcare access will drive the growth in the digital health market. Factors that could hinder the growth of the market in the future include intense competition, technical reliability and improper diagnosis due to incorrect information.
The digital health market is segmented by technology into mobile health (mhealth), health information technology, telehealth and telemedicine, health analytics and other technologies. The telehealth and telemedicine market was the largest segment of the digital health market segmented by technology, accounting for 46.7% of the total in 2021. Going forward, the other technologies is expected to be the fastest growing segment in the digital health market segmented by technology, at a CAGR of 18.8% during 2021-2026.
The digital health market is also segmented by application into cardiology, diabetes, neurology, sleep apnea, oncology, and other applications. The oncology market was the largest segment of the digital health market segmented by application, accounting for 30.4% of the total in 2021. Going forward, diabetes is expected to be the fastest growing segments in the digital health market segmented by application, at a CAGR of 20.0% during 2021-2026.
The digital health market is also segmented by end user into healthcare providers, healthcare payers, pharmaceutical companies and other end users. The healthcare providers market was the largest segment of the digital health market segmented by end users, accounting for 69.4% of the total in 2021. Going forward, healthcare providers, healthcare payers, and pharmaceutical companies are expected to be the fastest growing market segmented by end user, at a CAGR of 17.7% during 2021-2026.
North America was the largest region in the global digital health market, accounting for 39.7% of the total in 2021. It was followed by the Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the digital health market will be South America and, Asia Pacific where growth will be at CAGRs of 19.6% and 19.3% respectively. These will be followed by Middle East and Africa, where the markets are expected to register CAGRs of 18.7% and 18.6% respectively.
The digital health market is highly fragmented, with a large number of regional and small players. The top ten competitors in the market made up to 15.31% of the total market in 2020. Cerner Corporation was the largest competitor with 3.94% of the market, followed by GE Healthcare with 2.75%, Epic Systems Corporation with 2.36%, McKesson Corporation with 2.07%, Allscripts Healthcare Solutions, Inc. with 1.08%, Truven Health Analytics (an IBM Company) with 0.95%, Siemens Healthcare AG with 0.72%, eCLINICALWORKS with 0.72%, and Cisco Systems, Inc. with 0.44% and Koninklijke Philips N.V with 0.28%.
The top opportunities in the digital health market segmented by technology will arise in the telehealth and telemedicine segment, which will gain $92,537.0 million of global annual sales by 2026. The top opportunities in the digital health market segmented by application will arise in the oncology segment, which will gain $66,973.9 million of global annual sales by 2026. The top opportunities in the digital health market segmented by end user will arise in the healthcare providers segment, which will gain $1,43,745.9 million of global annual sales by 2026. The digital health market size will gain the most in the USA at $73,616.0 million.
Market-trend-based strategies for the digital health market include use of augmented reality telecollaboration system, biofeedback APIs, use of blockchain technology, 3D AR surgical navigation, integration of artificial intelligence, and increasing collaborations and partnerships.
Player-adopted strategies in the digital health market include new investments, development of advanced products, launching new digital health software products for independent medical practices, and strategic partnerships and collaborations.
To take advantage of the opportunities, the publisher reccomends the digital health companies to focus on integration of artificial intelligence, focus on collaborations and partnerships, establish operations in emerging markets, implement dynamic pricing, leverage technology to maximize reach, targeting key decision makers in pharmaceutical and medical devices companies and focus on millennials.
Frequently Asked Questions about the Global Digital Health Market
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| Report Attribute | Details |
|---|---|
| No. of Pages | 260 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 165031.6 Million |
| Forecasted Market Value ( USD | $ 826198.8 Million |
| Compound Annual Growth Rate | 17.5% |
| Regions Covered | Global |
Table of Contents
1. Digital Health Market Executive Summary2. Table of Contents3. List of Figures4. List of Tables5. Report Structure
6. Introduction
7. Digital Health Market Characteristics
8. Digital Health Market Trends And Strategies
9. Impact Of COVID-19 On The Digital Health Market
10. Global Digital Health Market Size And Growth
11. Global Digital Health Market Segmentation
12. Digital Health Market, Regional And Country Analysis
13. Asia-Pacific Digital Health Market
14. Western Europe Digital Health Market
15. Eastern Europe Digital Health Market
16. North America Digital Health Market
17. South America Digital Health Market
18. Middle East Digital Health Market
19. Africa Digital Health Market
20. Digital Health Market Competitive Landscape And Company Profiles
21. Key Mergers And Acquisitions In The Digital Health Market
22. Digital Health Market Opportunities And Strategies
23. Digital Health Market, Conclusions And Recommendations
24. Appendix
Executive Summary
Digital Health Global Market Opportunities And Strategies To 2031 provides the strategists; marketers and senior management with the critical information they need to assess the global digital health market as it emerges from the COVID-19 shut down.
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Description:
Where is the largest and fastest growing market for digital health? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The digital health market global report answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider digital health market; and compares it with other markets.
The report covers the following chapters
- Executive Summary - The executive summary section of the report gives a brief overview and summary of the report.
- Report Structure - This section gives the structure of the report and the information covered in the various sections.
- Introduction - The introduction section of the report gives a brief introduction about segmentation by geography and segmentation by technology, segmentation by application and segmentation by end user.
- Market Characteristics - The market characteristics section of the report defines and explains the digital health market. This section includes different products covered in the report and basic definitions.
- Trends And Strategies - This section describes the major trends shaping the global digital health market. This section highlights likely future developments in the market and suggests approaches companies can take to exploit these opportunities.
- Impact of COVID-19 - This section describes the impact of COVID-19 on the digital health market.
- Global Market Size And Growth - This section contains the global historic (2016-2021) and (2021-2026 and 2026-2031) market values, and drivers and restraints that support and restrain the growth of the market in the historic and forecast periods.
- Regional Analysis - This section contains the historic (2016-2021) and forecast (2021-2026 and 2026-2031) market value and growth, and market share comparison by region.
- Market Segmentation - This section contains the market values (2016-2031) and analysis for segment by technology, by application and by end user in the market.
- Regional Market Size And Growth - This section contains the region’s market size (2021), historic (2016-2021) and forecast (2021-2026 and 2026-2031) market values, and growth and market share comparison of major countries within the region. This report includes information on all the regions (Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa).
- Competitive Landscape - This section covers details on the competitive landscape of the global digital health market, estimated market shares, and company profiles of the leading players.
- Key Mergers And Acquisitions - This section gives information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- This section includes market opportunities and strategies based on findings of the research. This section also gives information on growth opportunities across countries, segments and strategies to be followed in those markets. It gives an understanding of where there is significant business to be gained by competitors in the next five years.
- Conclusions And Recommendations - This section includes conclusions and recommendations based on findings of the research. This section also gives recommendations for digital health providers in terms of product/service offerings, geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations, and currencies codes used in this report.
Scope:
Markets Covered:
- By Technology: Mobile Health (Mhealth); Health Information Technology; Telehealth And Telemedicine; Health Analytics; Other Technologies
- By Application: Cardiology; Diabetes; Neurology; Sleep Apnea; Oncology; Other Applications
- By End-User: Healthcare Providers; Healthcare Payers; Pharmaceutical Companies; Other End Users
Companies Mentioned:
Cerner Corporation; GE Healthcare; Epic Systems Corporation; McKesson Corporation; Allscripts Healthcare Solutions, Inc.
Countries:
China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia
Regions:
Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series:
Five years historic and ten years forecast.
Data:
Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; digital health indicators comparison.
Data segmentations:
country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing:
Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
A selection of companies mentioned in this report includes:
- Cerner Corporation
- GE Healthcare
- Epic Systems Corporation
- McKesson Corporation
- Allscripts Healthcare Solutions, Inc.
Methodology
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