Global Digital Health Market Predicted to Surge to US$ 701.78 Bn. by 2029, 2023-2029 Analysis

Digital Health Market Overview

MMR recently published Digital Health market report offers a holistic view of the Digital Health market, encompassing both global players and local players operating in different countries. Through a comparative analysis of key players and market followers, this report provides an insightful industry outlook.

Digital Health Market size was valued at US$ 280.45 Bn. in 2022 and the total revenue is expected to grow at 14% through 2023 to 2029, reaching nearly US$ 701.78 Bn.

Digital Health Market Report Scope and Research Methodology

The report provides an in-depth analysis of the Digital Health market, through segmentation. It analyses the market size, share, growth, and trends, along with the drivers and restraints affecting the market growth. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. 

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Digital Health Market Regional Insights

The report provides regional insights into the industrial gas market for North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The Asia-Pacific region is expected to dominate the market.

Digital Health Market Segmentation

by Component

Hardware
Software
Services

In 2020, the Software segment held a 40% market share, leading the Component category. The software market has grown as a result of the healthcare industry's growing use of the newest mobile applications. Over the course of the projected period, the software segment is anticipated to rise at a CAGR of 4.9%. Divisions such as electronic health records, mHealth, healthcare analytics, etc., and growing consumer awareness of digital health to monitor everyday activities are anticipated to propel market expansion throughout the course of the forecast period.

Over the course of the projection period, the hardware segment is anticipated to increase at a CAGR of 3%. Throughout the projection period, the market is anticipated to develop due to a decrease in the need for software installations and upgrades and an increase in investments in digital infrastructure.

by Categories

Telemedicine
Data Analytics
mHealth apps
Clinical decision support
Wearable Sensors
Others

In terms of categories, mHealth held a 22% market share in 2022. The market is expanding due to the rising incidence of cardiovascular illnesses and the associated mobile devices for medical conditions. Over the course of the projection period, mHealth is anticipated to develop at a CAGR of 4.2%. Over the course of the forecast period, factors that are anticipated to propel the market expansion for the sector include the prevalence of hypertension, a rise in the need for remote monitoring devices, and an increase in smartphone users.

Over the course of the projection period, telemedicine is anticipated to develop at a CAGR of 5.2%. Regulations were loosened, which resulted in lower costs compared with traditional treatment, and the epidemic made individuals more accustomed to using digital connections. Over the course of the forecast period, these factors are anticipated to propel market expansion.

by End User

Healthcare Providers
Payers
Healthcare Consumers
Others

Health care providers held a 30% market share in 2022, according to end users. The need for mHealth apps, the rising incidence of chronic illnesses, hypertension, and technological advancements in the healthcare industry are the main drivers of market expansion.

Over the course of the projected period, the Healthcare Consumers category is anticipated to increase at a CAGR of 2.7%. Growing consumer interest in fitness and the availability of remote monitoring services are the two main drivers of market expansion.

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Digital Health Market Key Players

1. Allscripts Healthcare Solution, Inc.
2. Cerner Corporation
3. Cisco systems
4. eCLINICALWORKS
5. General Electric Company
6. Koninklijke Philips N.V
7. Honeywell International Inc.
8. Mckesson Corporation
9. Siemans Healthcare AG
10.Qualcomm technologies, Inc.
11.Samsung Electronics Co., Ltd.
12.HiMS
13.Orange
14.Qualcomm Technologies, Inc.
15.Softserve
16.MQure
17.Computer Programs and Systems, Inc.
18.Vocera Communications
19.IBM Corporation

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Key questions answered in Digital Health Market are:

• Who held the largest market share in the Digital Health Market? 
• What are the factors driving the Digital Health Market growth?
• What are the factors restraining the Digital Health Market growth?
• Which trends are expected to generate additional revenue for the Digital Health market growth?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Digital Health Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by different segment | 2023−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region 
• Competitive Landscape – Profiles of selected key players by region from a strategic perspective 
  • Competitive landscape – Market Leaders, Market Followers, Regional player
  • Competitive benchmarking of key players by region
• PESTLE Analysis 
• PORTER’s analysis 
• Value chain and supply chain analysis 
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis 
• Recommendations 

About Maximize Market Research:

Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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