The global digital health market size is anticipated to reach USD 946.0 billion by 2030 and it is projected to grow at a CAGR of 21.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth driven by various factors. These include the proliferation of smartphones, advancements in internet connectivity, the development of IT infrastructure, increasing healthcare IT expenditures, overburdened healthcare facilities, a growing shortage of healthcare providers, rising demand for remote patient monitoring services, escalating medical costs, improved accessibility of virtual care services, and the increasing prevalence of chronic diseases. This growth is further propelled by the ongoing trend of digitalization in healthcare. This trend finds support in expanding public-private partnerships, emerging startups in the healthcare sector, and favorable initiatives undertaken by governments to promote digital health solutions.
Digital health encompasses diverse technologies such as telehealth services, health information technology, and mobile health (mHealth) to enhance communication within healthcare systems, fostering improved interactions between doctors and patients. The relevance of digital health technology has grown significantly, especially during the COVID-19 pandemic. These contemporary solutions enhance the patient-doctor relationship and extend preventive disease strategies. Furthermore, they contribute to a shift in healthcare towards value-based treatment, amplifying the accessibility of health information for both patients and healthcare providers.
Furthermore, integrating wearable devices into healthcare reshapes how individuals manage their health. Wearables like fitness trackers and smartwatches enable continuous monitoring of vital signs, physical activity, and other health metrics. This real-time data empowers individuals to take a proactive role in their well-being and allows healthcare providers to offer personalized preventive care. Companies such as Apple and Fitbit exemplify the success of wearables in the digital health market, emphasizing the fusion of technology and health monitoring.
Many nations have adopted telemedicine, remote monitoring platforms, and telehealth services to enable physical interactions among physicians and the patient population. Therefore, digital health industry experienced a boost in terms of revenue in 2020-2021 and is expected to maintain an upward trajectory in the projected technology life cycle. For instance, MyDoc, a telehealth platform headquartered in Singapore, witnessed a 160% growth in daily active users in 2020. Government initiatives to promote global digitalization in the healthcare sector are playing a significant role in propelling the market’s growth. For instance, in the 2022 budget session, the Government of India launched a digital health ecosystem as part of the Ayushman Bharat Digital Health Mission (ABDM). In October 2021, the French government revealed plans to invest over USD 650 million to enhance its digital health infrastructure nationally.
The digital health industry is a dynamic space where both established entities and startups compete for prominence, driven by the prospect of improving healthcare accessibility, affordability, and outcomes. Tech and healthcare giants are making ventures into this industry, coexisting with emerging local startups that address specific regional needs, attracting global investment. The growth of AI-powered solutions for patient monitoring and personalized care is evident, with the increasing involvement of healthcare professionals in their development and adoption. Moreover, various players are actively adopting strategies such as mergers, acquisitions, collaboration, partnerships, and product launches to maintain a competitive edge. For instance, in July 2023, Epic Systems Corporation collaborated with Nuance Communications, Inc., a Microsoft Company, to develop the Nuance Dragon Ambient eXperience (DAX) Express solution, which expands access to care for patients and enhances healthcare outcomes. Additionally, in December 2022, Greenway Health, LLC. Launched the Greenway Engagement Model, a client engagement program, to strengthen the healthcare technology journey of its clients.
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Based on component, the services segment accounted for largest revenue share in 2023, owing to the growing demand for services, such as installation, staffing, training, maintenance, and other services
Based on technology, the tele-healthcare segment led the market with the largest revenue share of 43.2% in 2023, due to increasing preference for remote patient monitoring services and shortage of healthcare professionals
Based on the application, the diabetes segment led the market with the largest share of 24.3% in 2023 and is expected to register the fastest CAGR over the forecast period. The obesity segment is the second largest in applications of the digital health market
Based on the end-use, the patient segment held the largest market share of 34.1% in 2023 and is expected to witness the fastest CAGR during the forecast period
North America dominated the market with a revenue share of 38.2% in 2023 due to the rapidly developing healthcare IT infrastructure, emergence of startups, growing funding options, and improving technological literacy
Grand View Research has segmented the global digital health market based on technology, component, application, end-use, and region:
Digital Health Technology Outlook (Revenue, USD Million, 2018 - 2030)
Tele-healthcare
Tele-care
Activity Monitoring
Remote Medication Management
Tele-health
LTC Monitoring
Video Consultation
mHealth
Wearables & Connected Medical Devices
Vital Sign Monitoring Devices
Heart Rate Monitors
Activity Monitors
Electrocardiographs
Pulse Oximeters
Spirometers
Blood Pressure Monitors
Others
Sleep Monitoring Devices
Sleep trackers
Wrist Actigraphs
Polysomnographs
Others
Electrocardiographs Fetal & Obstetric Devices
Neuromonitoring Devices
Electroencephalographs
Electromyographs
Others
mHealth Apps
Medical Apps
Women's Health
Fitness & Nutrition
Menstrual Health
Pregnancy Tracking & Postpartum Care
Menopause
Disease Management
Others
Chronic Disease Management Apps
Diabetes Management Apps
Blood Pressure & ECG Monitoring Apps
Mental Health Management Apps
Cancer Management Apps
Obesity Management Apps
Other Chronic Disease Management Apps
Personal Health Record Apps
Medication Management Apps
Diagnostic Apps
Remote Monitoring Apps
Others (Pill Reminder, Medical Reference, Professional Networking, Healthcare Education)
Fitness Apps
Services
Monitoring Services
Independent Aging Solutions
Chronic Disease Management & Post-Acute Care Services
Diagnosis Services
Healthcare Systems Strengthening Services
Others
Digital Health Systems
EHR
E-prescribing Systems
Healthcare Analytics
Digital Health Component Outlook (Revenue, USD Million, 2018 - 2030)
Software
Hardware
Services
Digital Health Application Outlook (Revenue, USD Million, 2018 - 2030)
Obesity
Diabetes
Cardiovascular
Respiratory Diseases
Others
Digital Health End-use Outlook (Revenue, USD Million, 2018 - 2030)
Patients
Providers
Payers
Others
Digital Health Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Sweden
Denmark
Norway
Asia Pacific
China
India
Japan
Australia
South Korea
Singapore
Latin America
Brazil
Mexico
Argentina
MEA
South Africa
Saudi Arabia
UAE
Kuwait
List of Key Players in Digital Health Market
Telefónica S.A.
Epic Systems Corporation
QSI Management, LLC
AT&T
AirStrip Technologies
Google, Inc.
Hims & Hers Health, Inc.
Orange
Softserve
Computer Programs and Systems, Inc.
Vocera Communications
IBM Corporation
CISCO Systems, Inc.
Apple Inc.
Oracle Cerner
Veradigm
Mckesson Corporation
Hims & Hers Health, Inc.
Vodafone Group
Qualcomm Technologies, Inc.
Samsung Electronics Co., Ltd.
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