The North America HealthTech Market is expected to witness market growth of 12.1% CAGR during the forecast period (2025-2032).
The US market dominated the North America HealthTech Market by country in 2024, and is expected to continue to be a dominant market till 2032; thereby, achieving a market value of $703.61 billion by 2032. The Canada market is experiencing a CAGR of 14.7% during 2025-2032. Additionally, the Mexico market is expected to exhibit a CAGR of 13.5% during 2025-2032.
The healthcare industry, once reliant on paper-based systems and in-person consultations, is undergoing a profound digital transformation. At the heart of this change lies HealthTech - an umbrella term encompassing a vast array of technologies designed to improve the delivery, efficiency, and accessibility of healthcare services.
Fuelled by the growing need for personalized medicine, an aging global population, and the rising prevalence of chronic conditions, HealthTech is enabling more connected, data-driven, and proactive care. The pandemic served as a pivotal inflection point, exposing the weaknesses of traditional systems and accelerating the adoption of digital health tools across regions and demographics.
The market across North America is experiencing transformative growth, driven by rising healthcare expenditures, demographic shifts, and increasing digital adoption. The United States, with its unparalleled healthcare expenditure - reaching approximately $4.5 trillion in 2022 or 17.3% of its GDP - is a major catalyst for the expansion of this industry. One of the significant outcomes of this spending surge is the heightened demand for medical coding and health information management technologies.In Canada, rising healthcare costs - totalling $264 billion in 2019 - are complemented by a notable increase in consumer spending on personal care products and services, which rose by 12.3% in 2022. Mexico is witnessing a demographic transition, with nearly 13 million individuals aged 60 and above. This aging population intensifies the demand for advanced healthcare services, particularly in diagnostic imaging and chronic disease management. As a result, healthcare providers in Mexico are expected to increase investments in these solutions such as digital radiology systems, AI-enhanced imaging software, and portable diagnostic devices. Thus, market in North America is evolving due to rising healthcare costs and data needs in the U.S., growing wellness awareness in Canada, and an aging population in Mexico - together driving a regional digital healthcare transformation.
The US market dominated the North America HealthTech Market by country in 2024, and is expected to continue to be a dominant market till 2032; thereby, achieving a market value of $703.61 billion by 2032. The Canada market is experiencing a CAGR of 14.7% during 2025-2032. Additionally, the Mexico market is expected to exhibit a CAGR of 13.5% during 2025-2032.
The healthcare industry, once reliant on paper-based systems and in-person consultations, is undergoing a profound digital transformation. At the heart of this change lies HealthTech - an umbrella term encompassing a vast array of technologies designed to improve the delivery, efficiency, and accessibility of healthcare services.
Fuelled by the growing need for personalized medicine, an aging global population, and the rising prevalence of chronic conditions, HealthTech is enabling more connected, data-driven, and proactive care. The pandemic served as a pivotal inflection point, exposing the weaknesses of traditional systems and accelerating the adoption of digital health tools across regions and demographics.
The market across North America is experiencing transformative growth, driven by rising healthcare expenditures, demographic shifts, and increasing digital adoption. The United States, with its unparalleled healthcare expenditure - reaching approximately $4.5 trillion in 2022 or 17.3% of its GDP - is a major catalyst for the expansion of this industry. One of the significant outcomes of this spending surge is the heightened demand for medical coding and health information management technologies.In Canada, rising healthcare costs - totalling $264 billion in 2019 - are complemented by a notable increase in consumer spending on personal care products and services, which rose by 12.3% in 2022. Mexico is witnessing a demographic transition, with nearly 13 million individuals aged 60 and above. This aging population intensifies the demand for advanced healthcare services, particularly in diagnostic imaging and chronic disease management. As a result, healthcare providers in Mexico are expected to increase investments in these solutions such as digital radiology systems, AI-enhanced imaging software, and portable diagnostic devices. Thus, market in North America is evolving due to rising healthcare costs and data needs in the U.S., growing wellness awareness in Canada, and an aging population in Mexico - together driving a regional digital healthcare transformation.
List of Key Companies Profiled
- Koninklijke Philips N.V.
- Epic Systems Corporation
- Omron Corporation
- Medtronic PLC
- Stratasys, Ltd.
- Materialise NV
- Stryker Corporation
- ZS Associates
- Siemens Healthineers AG (Siemens AG)
- Intuitive Surgical, Inc.
Market Report Segmentation
By End User
- Healthcare IT Institutions
- Consumers
By Component
- Hardware
- Software
- Services
By Deployment
- Cloud
- On-Premise
By Technology
- Telemedicine
- Healthcare E-commerce
- mHealth
- Healthcare IT
- Wearable
- Other Technology
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America HealthTech Market by End User
Chapter 6. North America HealthTech Market by Component
Chapter 7. North America HealthTech Market by Deployment
Chapter 8. North America HealthTech Market by Technology
Chapter 9. North America HealthTech Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Koninklijke Philips N.V.
- Epic Systems Corporation
- Omron Corporation
- Medtronic PLC
- Stratasys, Ltd.
- Materialise NV
- Stryker Corporation
- ZS Associates
- Siemens Healthineers AG (Siemens AG)
Methodology
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