IMARC Group, a leading market research company, has recently releases report titled “Digital Health Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global digital health market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the digital health market?
The global digital health market size reached US$ 353 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,039 Billion by 2028, exhibiting a growth rate (CAGR) of 19.4% during 2023-2028.
What is digital health?
Digital health refers to the use of digital technologies and solutions to enhance healthcare delivery, improve patient outcomes, and enable more efficient and personalized healthcare services. It encompasses various technologies such as mobile health (mHealth) applications, wearable devices, telehealth, electronic health records (EHRs), and health monitoring systems.
Digital health exhibits several key characteristics, including connectivity, data-driven insights, and patient-centricity. It leverages interconnected devices and networks to enable seamless communication and data sharing between patients, healthcare providers, and other stakeholders. The features of digital health include remote patient monitoring, telemedicine consultations, electronic health records, personalized health tracking, and AI-powered diagnostics. Digital health finds applications across various industries, including healthcare providers, pharmaceuticals, medical device manufacturers, insurance companies, and wellness companies.
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What are the growth prospects and trends in the digital health market?
One of the primary drivers is the increasing adoption of digital technologies in the healthcare sector. In line with this, its adoption is fueling the market's expansion. Moreover, healthcare providers and patients are increasingly embracing digital health solutions such as telemedicine, wearable devices, and mobile health applications to enhance access to care, improve patient engagement, and enable remote monitoring. COVID-19 pandemic has significantly accelerated the adoption of digital health. The need for social distancing and remote healthcare services has propelled the use of telemedicine and virtual consultations. This trend is expected to continue as the healthcare industry recognizes the benefits and convenience of digital health solutions. Another driving factor is the increasing focus on personalized medicine and patient-centric care.
Digital health technologies enable the collection and analysis of large amounts of patient data, facilitating personalized treatment plans, remote monitoring, and preventive care. Patients are also becoming more involved in their healthcare decisions and actively seeking digital health solutions to monitor and manage their health. Other factors such as advancements in artificial intelligence (AI) and data analytics are further driving the growth of the market worldwide.
Who are the key players operating in the digital health industry?
The report has also analyzed the competitive landscape of the market with some of the key players.
iHealth Lab Inc.AllScripts Healthcare Solutions Inc.AirStrip TechnologiesQualcomm TechnologiesCerner CorporationMcKesson CorporationKininklijke Philips N.V.LifeWatch AGBiotelemetry Inc.eClinicalWorksOmron HealthcareAthenahealth Inc.AT&TWhat is Included in market segmentation?
The report has categorized the market based on type, component and region.
Breakup by Type:
TelehealthMedical WearablesEMR/EHR SystemsMedical AppsHealthcare AnalyticsOthersBreakup by Component:
SoftwareHardwareServiceRegional Analysis:
North America (United States, Canada)Europe (Germany, France, United Kingdom, Italy, Spain, Others)Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)Latin America (Brazil, Mexico, Others)Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)Key Highlights of The Report:
Market Performance (2017-2022)Market Outlook (2023-2028)Market TrendsMarket Drivers and Success FactorsSWOT AnalyticsValue Chain AnalysisComprehensive mapping of the competitive landscapeIf you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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