June 23, 2024

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Digital Health Market Global Forecast to 2028

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Dublin, Feb. 05, 2024 (GLOBE NEWSWIRE) — The “Digital Health Market by Revenue Model (Subscription, Pay per service, Free apps), Technology (Wearables, mHealth, Telehealthcare, RPM, LTC monitoring, Population Health management, DTx), EHR, Healthcare Analytics, ePrescribing & Region – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.

The Digital Health Market is projected to reach USD 549.7 billion by 2028 from USD 180.2 billion in 2023, at a CAGR of 25% during the forecast period. Digital health adoption is influenced by a wide range of factors. One of the major factors driving the market growth includes technological advancements.

Advances in healthcare technology, such as wearable devices, telehealth platforms, electronic health records (EHRs), and mobile apps, make it easier for individuals to monitor their health and interact with healthcare providers. Moreover, improvements in healthcare infrastructure in emerging countries has led to an increase in adoption of digital health technologies thereby facilitating the market growth. On the other hand, data integration and interoperability issue is key factor restraining the market growth at certain extent over the forecast period.

Software segment held the major share in 2022 in the global digital health market

On the basis of offering, the digital health market is bifurcated into software, hardware, application and services. The software segment expected to account for the largest market share of the global digital health market in 2022. The development of user-friendly and intuitive interfaces makes it easier for both healthcare providers and patients to navigate and use digital health software. Growing availability of highly efficient software has fostered the segmental growth.

Telehealthcare technology segment accounted for the largest share of the global digital health market

On the basis of technology, the digital health market is segmented into mhealth, telehealth, digital therapeutics, healthcare management systems technologies. The telehealthcare segment accounted for the largest share of the global market in 2022. Patients with chronic conditions can receive ongoing care, monitoring, and education through telehealth, improving their management and reducing hospital readmissions. Moreover, improving reimbursement scenario for telehealth technology has increased its demand thereby, positively impacting the segment growth.

Providers segment held the largest share of the market in 2022

On the basis of end user, the digital health market is divided into providers, payers and consumers and patients segment. In 2022, the providers segment accounted for the largest share of the digital health market. Digital health technologies assist hospitals in managing their resources more effectively, such as managing hospital beds, equipment, and staff schedules. Moreover, hospitals use digital health technologies to provide more patient-centered care, catering to the preferences and needs of individual patients. Aforementioned factors have positively impacted the segment growth.

North America dominated the digital health market in 2022

The global digital health market is segmented into four major regions, namely, North America, Europe, Asia Pacific, Latin America and MEA. In 2022, North America accounted for the largest and the fastest-growing regional market for digital health. Well-developed healthcare infrastructure along with high awareness for digital health technologies such a digital therapeutics and telehealth has facilitated the regional growth.

Key Attributes:

Report Attribute Details
No. of Pages 250
Forecast Period 2023 – 2028
Estimated Market Value (USD) in 2023 $180.2 Billion
Forecasted Market Value (USD) by 2028 $549.7 Billion
Compound Annual Growth Rate 25.0%
Regions Covered Global

Company Profiles

  • Koninklijke Philips N.V.
  • Medtronic
  • GE Healthcare
  • Abbott
  • Omron Corporation
  • Johnson & Johnson Private Limited
  • Masimo
  • Merative
  • Fitbit, Inc. (A Google Company)
  • AT & T, Inc.
  • Noom, Inc.
  • Teladoc Health, Inc.
  • Omada Health Inc.
  • Dexcom
  • Siemens Healthineers
  • Apple, Inc.
  • Biotricity
  • Veradigm LLC
  • Ihealth Labs, Inc.
  • My Mhealth Limited
  • Athenahealth, Inc.
  • Eclinicalworks
  • Airstrip Technologies, Inc
  • Advancedmd, Inc.
  • Qardio, Inc.

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  • Global Digital Health Market

            

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