Digital Health Market is witnessed to reach at USD 250 Billion by 2027 at a 15.1% CAGR during the forecast period.

Introduction of Digital Health Market Report

Digital health is the union of digital technologies with health, healthcare, living, and society to improve the productivity of healthcare delivery and make customized and precise medicine. It uses information technology/electronic communication tools, services, and processes to provide health care services or assist better health. The wide range of digital health includes mobile health or mHealth, health information technology (IT), wearable devices, telehealth and telemedicine, and personalized medicine. The digital health technologies can enable users to make more informed decisions about their health and offer various new options for facilitating prevention, early diagnosis of life-threatening diseases, and management of chronic conditions beyond traditional care settings.

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The major factors that are driving the growth of the Digital Health market are the increasing penetration of smartphone worldwide, along with the growing adoption of mobile health application, rising adoption of digital healthcare, increasing integration of advanced technologies such as artificial intelligence (AI), and Internet of Things (IoT) and rising number of favorable initiatives by government and private sector. Moreover, the growing demand for remote monitoring services due to the increasing incidences of chronic diseases across the world and the accelerating adoption of smartphone and mobile apps users among healthcare practitioners and physicians to monitor and access medical patient-related information is fuelling the growth of the market.

Increasing implementation of mHealth technologies for self-management of chronic illness, such as diabetes, is further propelling the growth of the market. Rising demand for enhancing workflow efficiency in hospitals, clinics, and other healthcare centers is boosting the demand for mHealth services in a healthcare organizations. Moreover, favorable initiatives by the government and private sector, coupled with technological advancements for developing advanced digital solutions, are bolstering the market growth. Government programs such as awareness programs and R&D funding for healthcare IT are also contributing to the growth of the market. However, privacy and cybersecurity concerns are hampering the growth of the market.

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Based on the technology, the mHealth segment is projected to dominate the digital health during the forecast period owing to the growing adoption of mHealth technologies among physicians and patients, rising trend of preventive healthcare, and increasing funding for mHealth startups. The rising penetration of smartphones, along with high internet usage and availability of a massive number of mHealth applications, is further fuelling the growth of the market. Additionally, advancement in wearable technologies and increasing incidence of chronic diseases such as diabetes and cardiovascular diseases are further boosting the growth of the market.

Based on the component, the service segment is expected to grow at a higher CAGR in the global Digital Health market over the forecast period due to the rising investment in digital infrastructure in emerging countries and growing penetration of wearable devices. The digital health service includes installation, upgradation, and training and integration. Moreover, the increasing demand for software platforms such as electronic health records (EHR) is further surging the demand for service as companies are focusing on providing post-installation services such as training, staffing, and others.

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Based on the region, North America is projected to grow at a faster CAGR during the forecast period owing to the rising prevalence of chronic diseases such as diabetes, and cardiovascular diseases, increasing geriatric population, rapid growth in smartphone users, and network coverage advancement. Moreover, the increasing government support and collaboration are encouraging to the application developer and healthcare provider for innovation in digital health and build better digital health solutions.

Various notable players in the Digital Health market include AT&T Inc., Apple Inc., AirStrip Technologies LP, Alcatel-Lucent Corporation, Cisco Systems, Inc.Cerner Corporation, Symantec Corporation, Aruba Networks, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., NextGen Healthcare, Inc. (QSI Management, LLC), IBM Corporation, Google LLC,  among others.

Key Developments:

• • In Nov 2019, Google acquired Fitbit, a wearable company for USD 2.1 billion. With this acquisition, Google aimed to enhance their position in the wearables market with its Wear OS platform.
  • In May 2019, Apple acquired Asthma-Monitoring Startup Tueo Health to monitor asthma symptoms in sleeping children. With this acquisition, Apple will expand its healthcare tech footprint.

The Global Digital Health market has been segmented based on the technology, component, and region. Based on the technology market is categorized into Tele Healthcare, and mHealth. Based on Tele Healthcare, the market is segmented into Tele-care and Tele-health. Based on the component, the market is segmented into hardware, software, and services.

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Key questions answered in this research report:

• • At what pace is the global Digital Health market growing? What will be a growing trend in the future?
  • What are the key drivers and restraints in the global Digital Health market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Digital Health market?
  • Which Technology generated maximum revenues in 2019 and identify the most promising Technology during the forecast period?
  • What are the various technologies of the global Digital Health market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2027)	USD 250 Billion
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Technology, By Component, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	AT&T Inc., Apple Inc., AirStrip Technologies LP, Alcatel-Lucent Corporation, Cerner Corporation, Symantec Corporation, Aruba Networks, Inc., Cisco Systems, Inc., Qualcomm Technologies, Inc., Samsung Electronics Co., Ltd., NextGen Healthcare, Inc. (QSI Management, LLC), IBM Corporation, Google LLC, among others; A total of 13 Companies Covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Digital Health Market by Technology              

• • Tele Healthcare
    • Tele-care
      • Activity Monitoring
      • Remote Medication Management
    • Tele-health
      • LTC Monitoring
      • Video Consultation
  • mHealth
    • Wearables
      • BP Monitors
      • Glucose Meters
      • Pulse Oximeters
      • Sleep Apnea Monitors (PSG)
      • Neurological Monitors
      • Activity Trackers/ Actigraphs
    • mHealth Apps
      • Medical Apps
      • Fitness Apps
    • Healthcare Analytics
    • Digital Health Systems
      • EHR
      • E-prescribing Systems

Global Digital Health Market by Component             

• • Hardware
  • Software
  • Services

Global Digital Health Market by Region

• • North America Digital Health Market (Option 1: As a part of the free 25% customization)
    • By Technology
    • By Component
    • US Market All-Up
    • Canada Market All-Up
  • Europe Digital Health Market (Option 2: As a part of the free 25% customization)
    • By Technology
    • By Component
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Digital Health Market (Option 3: As a part of the free 25% customization)
    • By Technology
    • By Component
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Digital Health Market (Option 4: As a part of the free 25% customization)
    • By Technology
    • By Component
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating the Digital Health (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • AT&T Inc.
  • Apple Inc.
  • AirStrip Technologies LP
  • Alcatel-Lucent Corporation
  • Cerner Corporation
  • Symantec Corporation
  • Aruba Networks, Inc.
  • Cisco Systems, Inc.
  • Qualcomm Technologies, Inc.
  • Samsung Electronics Co., Ltd.
  • NextGen Healthcare, Inc. (QSI Management, LLC)
  • IBM Corporation
  • Google LLC