The global digital health market size was US$ 111.5 billion in 2021 and is forecast to reach US$ 393 billion by 2030. The global digital health market is expected to grow at a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2022-2030.
Digital health technologies offer efficient care through online services. These technologies include wireless technologies, digital diagnostic systems, and electronic health records.
Factors Influencing
COVID-19 Impact Analysis
During the COVID-19 pandemic, the healthcare bodies witnessed a huge demand for healthcare facilities. The epidemic emerged as a favorable growth opportunity for the market players to introduce efficient technologies. The doctors were prone to get infected through human contact. Thus, the adoption of technologies, such as electronic intensive care units (e-ICU), increased rapidly.
Geographic Analysis
Geographically, North America is witnessing a high demand for digital health technologies and services. The region holds the largest share in the global digital health market and is forecast to remain dominant during the forecast period. It is majorly due to the growing cases of long-term diseases and favorable government initiatives that are likely to boost the market growth. The emergence of mHealth technologies has gained rapid popularity in the region. These technologies and apps help in tracking, monitoring fitness data. Apart from that, developing nations are adopting mHealth technologies as it enables real-time communication between doctors and patients.
The Asia-pacific region is forecast to witness rapid growth due to the high contribution of emerging countries, like China and India. The population in these countries is growing rapidly. Apart from that, government investments are further expected to create huge growth potential for the market players. The Indian government launched NeHA, an initiative to provide low-cost health services to the population.
Competitors in the Market
Market Segmentation
By Product & Service
By Component
By End-User
By Region