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Digital Health Market Size to Touch $551.09 billion in 2027

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The digital health market revenue share is set to grow at a yearly rate of 16.5% during 2021-2027, while its valuation is Projected to jump from $ 220.16 billion in 2021 to $551.09 billion in 2027.

The digital health market report covers a detailed analysis for the historic period 2017-2020, considering 2021 as the base year and forecast (growth) for 2021-2027.

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This research report evaluates the digital health market on a global and regional level. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global digital health market for the period from 2017 to 2027.

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.

Market Report Scope

Report Highlights Details
Market Size in 2027 USD 551.09 billion
Growth Rate CAGR of 16.5% From 2020 to 2027
Largest Market Noorth America
Fastest Growing Market Asia Pacific
Base Year 2021
Segments Covered
  • Components
  • Products
Regional Scope
  • North America
  • APAC
  • Europe
  • Latin America
  • MEAN
  • Rest of the World

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This report enables readers to make important decisions with regard to their business, with the help of a wealth of Information enclosed in the study. The report also provides the compound annual growth rate (CAGR) of the global digital health market for the forecast period of 2021–2027. This data can help readers interpret quantitative growth aspects of the global market during the forecast period. It presents a wealth of information on key market dynamics, including drivers, market trends, and challenges, as well as the structure of the global market across the globe.

The report analyzes the historical and present-day scenario of the global digital health market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global market in order to identify opportunities for stakeholders.

Key Highlights

  • In 2020, the North America region accounted the market with a revenue share of around 39% 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 2020 due to the significant rise in the software upgradation
  • Software accounted for nearly 36% 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 2020, mHealth held the leading market position and accounted for a revenue share of more than 47% 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
  • North America emerged as the dominating region in the global digital health market with nearly 43% of the value share in 2020. The growth of the region is mainly due to rising geriatric population along with high adoption rate of smartphones in the region.
  • Asia Pacific examined to register significant CAGR over the upcoming years because of rising penetration of smartphones along with smart wearable devices in the region.

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Competition Landscape

In the final section of the research report, Precedence Research provided the global digital health market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the market.

Some of the major 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

Market Segmentation

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

Regional Segmentation

– North America (U.S. and Canada)

 – Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)

 – Asia-Pacific (China, Japan, India, Southeast Asia and Rest of APAC)

 – Latin America (Brazil and Rest of Latin America)

– Middle East and Africa (GCC, North Africa, South Africa, Rest of MEA)

Research Methodology

  • Market estimate for 2020
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Most Asked Questions –

What was the market size value of the digital health in 2020?

What is the expected market size by 2027?

What is the digital health market growth?

What are the key factors that positively influence market growth?

Who are the prominent players in the digital health market?

Why Buy this Report?

The purpose of Precedence Research’s digital health market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.

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.

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