Stratview Research has published a new research report on the ‘Digital Health Market’. This report covers the top regions countries of the world and shows a region-wise development status, including market size, shares, revenue, opportunities, and strategies to enhance growth across the globe. This report provides a 5-year pre-historic and future forecast for the segment and a comprehensive overview of the global market size.

Digital Health Market: Report Highlights

The digital health market was estimated at USD 174.2 billion in 2021 and is likely to grow at a CAGR of 18.2% during 2022-2028 to reach USD 561.52 billion in 2028.

What is digital health?

Digital health is defined as the incorporation of electronic communication and information technology used in managing different healthcare processes for people’s health and well-being. This concept is an umbrella term for mHealth apps, wearable devices, electronic health records, electronic medical records, telemedicine, telehealth, etc.

COVID-19 IMPACT

The COVID-19 pandemic has radically altered people's daily lives, workplaces, and the surrounding environment. According to the market forecast for digital health, the current estimate for 2028 is expected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has had little impact on the growth of the market because the COVID-19 lockdown enabled the widespread adoption of digital health. The pandemic has compelled the development of safer and more efficient methods of constructing offices and homes.

Market Dynamics

The growth of the digital health market is primarily driven by-

• Rising smartphone or mobile phone penetration integration of advanced technologies, such as the internet of things (IoT)  artificial intelligence (AI),
• Advancing healthcare IT infrastructure,
• Increasing demand for remote patient monitoring services.

Market Segments’ Analysis

The tele-healthcare segment is projected to maintain its dominance by owning more than 36% of the market share in 2021.

The market is segmented as tele-healthcare, mHealth, health analytics, and digital health system. It is owing to the increasing geriatric population, growing prevalence of chronic diseases, improving accessibility to the internet, and absence of skilled healthcare professionals.

The market is segmented into hardware, software, and services. The services segment is expected to remain the most dominant in the market over the forecast period and owing more than 45% share in 2021 due to the growing demand for remote patient monitoring, synchronous services, and asynchronous services.

North America held the highest market share of more than 45% in 2021 and grew with a lucrative CAGR over the forecast period, owing to a well-developed healthcare infrastructure, huge healthcare expenditure, high adoption of advanced technology, and the presence of a tech-savvy population.

Key Players

The supply chain of this market comprises raw material manufacturers, distributors, and users. Some of the key players in the Digital Health Market are-

• AdvancedMD Inc.
• Allscripts Healthcare Solutions Inc.
• Biotelemetry Inc.
• iHealth Lab Inc.
• McKesson Corporation
• Koninklijke Philips N.V.
• AT T
• Cerner Corporation
• Cisco Systems.

Why to invest in this report?

The report provides critical insights into the market dynamics and enables strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints,
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, Product portfolio, new product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Key success factors

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About Stratview Research:

Stratview Research is a trusted global market intelligence and strategic consulting firm providing inclusive range of services to multiple clients across a wide array of industries. The team of veterans and analysts have extensive experience in executing custom research projects for mid-sized to fortune companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, and more.