Digital Health Market by Product, Component, End-User

List of Tables

[186 Pages Report] The Digital Health Market size was estimated at USD 235.91 billion in 2023 and expected to reach USD 270.97 billion in 2024, at a CAGR 14.10% to reach USD 594.02 billion by 2030.

Digital health, a rapidly evolving field within the healthcare industry, encompasses a multitude of technologies and approaches aimed at leveraging digital tools to enhance medical care, preventive measures, and overall health and well-being. The primary objective of digital health is to increase access to healthcare services, improve patient outcomes, decrease healthcare costs, and enable more personalized care through data-driven solutions. Digital health comprises various technological components such as electronic health records (EHRs), telemedicine platforms, mobile health applications (mHealth), wearables and Internet of Things (IoT) devices for remote monitoring, big data analytics, artificial intelligence (AI), machine learning (ML), and blockchain technology. These innovative tools are reshaping traditional modes of patient-provider interactions by addressing critical challenges such as geographical barriers in accessing quality medical care, long waiting times for consultations or treatments, and the inefficient management of vast amounts of patient data. The growing need for cloud-based features, scalability, and flexibility in healthcare delivery and the rising use of mobile and smart devices for providing healthcare services, which emphasizes the significance of connected healthcare, drives the use of digital health. Additionally, the expansion of pharmaceutical R&D and government investments made towards improving healthcare infrastructure also support the expansion of the digital health market. On the contrary, developing economies often suffer from a lack of reliable local infrastructure that can hinder the implementation of digital health technologies. Limited availability of skilled professionals and data privacy and security issues also can pose challenges to market growth. However, the rising integration of digital health technologies in research centers and universities and the use of digital pathology by various organizations to improve efficiency and maximize resource utilization are anticipated to encourage market expansion. Moreover, significant technology trends such as artificial intelligence (AI), machine learning (ML), and virtual reality (VR) are expected to enhance the value of digital health solutions

KEY MARKET STATISTICS
Base Year [2023]	USD 235.91 billion
Estimated Year [2024]	USD 270.97 billion
Forecast Year [2030]	USD 594.02 billion
CAGR (%)	14.10%

Product: Utilization of mHealth and advanced digital analytics to quantify better healthcare solutions

Digital health systems are a key component of digital health, encompassing the integration of advanced technologies and communication tools to enhance the accessibility, efficiency, and quality of healthcare delivery. By leveraging information technology (IT), data management, and analytics capabilities, these systems aim to empower medical professionals and patients while addressing modern-day healthcare challenges. Healthcare analytics refers to using data-driven insights to optimize healthcare processes and outcomes, including predictive analytics for identifying risk factors in patients or analyzing trends in population health. Healthcare providers can use these insights to make evidence-based decisions for patient care, resource allocation, and overall hospital operations. mHealth (mobile health) is the utilization of mobile devices such as tablets, smartphones, and wearables to deliver healthcare services remotely, enabling patients to monitor their health conditions through connected devices that track vital signs or medication adherence. On the other hand, telehealth encompasses a broad category of services aimed at providing remote access to medical expertise via telecommunication platforms. This includes telemedicine consultations for virtual doctor visits, telemonitoring solutions for real-time tracking of patients' progress outside hospitals, and telesurgery involving remote-controlled surgical procedures.

Component: Rising uses of software-based digital health to analyze and secure health-related patient data

The service-oriented component of digital health leverages technology to design, develop, deliver, and optimize healthcare services. This service is often characterized by consulting, design & integration, and maintenance services, which provide a smooth and seamless integration to the patient's health. Additionally, in the digital health space, software comprising electronic health record (EHR) systems, clinical decision support (CDS) systems, and patient administration systems (PAS) has played a crucial role in facilitating the documentation, storage, and exchange of health information in electronic formats. These software solutions usually require accurate record-keeping, seamless information exchange, improved health outcomes, and enhanced operational efficiency. Both services and software play important roles in the digital health ecosystem. While services drive accessibility and convenience, software propels efficiency and improved health outcomes.

End-User: Increasing adoption of digital health services by healthcare payers, providing greater visibility and better opportunities

Healthcare patients benefit from digital health through increased access to medical services, personalized care plans, and greater control over their personal health information. Patient portals provide secure access to medical records and facilitate communication with providers. Healthcare payers employ digital health technologies to streamline administrative processes, implement data-driven decision-making strategies, and enhance member engagement. Claims processing systems automate routine tasks such as eligibility verification and payment calculations, while predictive analytics models help detect fraud or potential issues in real-time. Digital tools such as mobile apps enable payers to offer personalized wellness programs that encourage healthy behaviors among members. Healthcare providers leverage digital health solutions to optimize clinical workflows, augment decision-making capabilities, and deliver more effective care.

Regional Insights

In the Americas region, the adoption and advances in digital health are rapidly progressing with the presence of key market players launching innovative technologies, healthcare technology advancements, and rising demand for remote patient monitoring services across North, Central, and South America. In the Asia-Pacific region, digital health utilization is driven by escalating healthcare costs, technological advancements, and government initiatives to improve healthcare infrastructure. Countries such as Singapore and Japan are adopting innovative e-health technologies such as Electronic Health Records (EHRs), telehealth consultations, mobile health apps, wearables, remote patient monitoring systems, and AI-based decision support tools. European countries have been at the forefront of digital health adoption with growing awareness about the benefits of digital health solutions. Meanwhile, the Middle East is experiencing substantial growth in digital health adoption due to increased government investment and public-private partnerships. In Africa, although access to advanced healthcare technology is limited compared to other regions in EMEA, mobile penetration rates are driving the development of mHealth programs addressing issues such as maternal care or infectious disease management.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Digital Health Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Digital Health Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Digital Health Market, highlighting leading vendors and their innovative profiles. These include Ada Health GmbH, Advanced Data Systems Corporation, American Well Corporation, athenahealth, Inc., Babylon Inc., Cantata Health, LLC, Cisco Systems, Inc., Click Therapeutics, Inc., Cognizant Technology Solutions Corporation, ConcertAI LLC by Symphony Innovation, LLC, DnaNexus, Inc., eClinicalWorks, LLC, Epic Systems Corporation, GE Healthcare, iHealth Labs Inc., International Business Machines Corporation, InterSystems Corporation, Johnson & Johnson Services, Inc., Kasha Global Inc., Koninklijke Philips N.V., Lupin Limited, McKesson Corporation, Medhost, Medtronic PLC, NextGen Healthcare, Inc., Optum, Inc., Oracle Corporation, Qualcomm Incorporated, Siemens Healthineers AG, and Veradigm LLC.

Market Segmentation & Coverage

This research report categorizes the Digital Health Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Digital Health Systems
- Healthcare Analytics
- mHealth
- Tele Healthcare

Component
- Services
  - Consulting Services
  - Design & Integration Services
  - Maintenance Services

Software

End-User
- Healthcare Patient
- Healthcare Payers
- Healthcare Provider

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Digital Health Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Digital Health Market?

3. What are the technology trends and regulatory frameworks in the Digital Health Market?

4. What is the market share of the leading vendors in the Digital Health Market?

5. Which modes and strategic moves are suitable for entering the Digital Health Market?

Product Code: MRR-4348D129FA3C

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing Requirement to Inherit Cloud Features, Scalability and Flexibility
  - 5.1.1.2. Increasing use of Mobile and Smart Devices for Delivering Healthcare Service and Significance of Connected Healthcare
  - 5.1.1.3. Potential Applications in Transforming Research & Development of Pharmaceutical Companies
  - 5.1.1.4. Government Initiatives and Regulatory Mandates
- 5.1.2. Restraints
  - 5.1.2.1. Lack of Reliable Local Infrastructure in Developing Economies
  - 5.1.2.2. Lack of Skilled Medical Staff and Inadequate Health Literacy
- 5.1.3. Opportunities
  - 5.1.3.1. Increasing use of Digital Health in Education, Research, and Training Programmes
  - 5.1.3.2. Significant Technology Trends
  - 5.1.3.3. Adoption of Digital Pathology to Increase their Efficiency and Maximizing Resource Utilization
- 5.1.4. Challenges
  - 5.1.4.1. Privacy and Security Concerns
5.2. Market Segmentation Analysis
- 5.2.1. Product: Utilization of mHealth and advanced digital analytics to quantify better healthcare solutions
- 5.2.2. Component: Rising uses of software-based digital health to analyze and secure health-related patient data
- 5.2.3. End-User: Increasing adoption of digital health services by healthcare payers, providing greater visibility and better opportunities
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Digital Health Market, by Product

6.1. Introduction
6.2. Digital Health Systems
6.3. Healthcare Analytics
6.4. mHealth
6.5. Tele Healthcare

7. Digital Health Market, by Component

7.1. Introduction
7.2. Services
7.3. Software

8. Digital Health Market, by End-User

8.1. Introduction
8.2. Healthcare Patient
8.3. Healthcare Payers
8.4. Healthcare Provider

9. Americas Digital Health Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Digital Health Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Digital Health Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. AdvaMed Launches New Digital Health Tech Division
- 12.3.2. Rwandan digital health access startup Kasha raises USD 21m Series B to expand across Africa
- 12.3.3. Lupin Digital Health partners with ACC to deliver in-home cardiovascular care with DTx
- 12.3.4. Lupin Launches LYFE, its Digital Therapeutic Solution for Holistic Heart Care
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio