Latest Study on “Digital Health Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2027”.
The global Digital Health market size is expected to be worth around US$ 558.2 Billion by 2027, according to a new report by nova one advisor.
The global Digital Health market size was valued at US$ 185.2 Billion in 2020 and is anticipated to grow at a CAGR of 17.9% during forecast period 2021 to 2027.
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Growth Factors:
The Market From mobile medical applications and tools that assist clinical evaluations doctors make every day to machine learning and artificial intelligence, emerging technology has driven a revolution in health care. Digital health platforms have a lot of promise in terms of enhancing our efforts to accurately detect and manage illness, as well as enhancing consumer health care delivery. Digital innovations are providing doctors with a more holistic view of patient well-being through data access, while also allowing patients more control over their health. Although rising effectiveness, digital health has the ability to enhance patient outcomes.
Digital health is a large and growing field that is based on a simple concept: using technology to help people better their health and wellbeing. Wearable devices to ingestible sensors, mobile health applications to artificial intelligence, and automatedcarer to electronic records are all examples. Actually, it’s about bringing digital transformation, across disruptive technology and cultural change, to the healthcare sector. Digital health resources can also aid in the detection of new illnesses or the deterioration of existing ones. By encouraging physicians to intervene earlier in the course of a disease, digital health resources can be able to shorten the duration of the illness or relieve symptoms before they become serious. Not only could digital health boost people’s quality of life, but it could also lower the average cost of healthcare over a human lifetime, saving money for both providers and patients.
Despite unprecedented implications of the COVID-19 outbreak, the market will gain impetus amidst soaring investment towards sophistication of the healthcare sector. The market survey offers compelling insights into key factors enabling growth through the assessment period. It underscores hidden opportunities across diverse segments. Besides uncovering hidden opportunities, the report presents exclusive insights into challenges posing threat to growth. Alongside this, it offers recommendations to navigate through unforeseen hindrances in the future, while keeping the business afloat.
Scope of the Study
This Digital Health market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, Component, Technology and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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Report Highlights
- In 2020, the North America region accounted the market with a revenue share of around 39% due to increasing number of geriatric population and rising prevalence of chronic diseases across the region
- The Asia Pacific exhibits the fastest growth over the forecast timeframe owing to increasing spending on healthcare infrastructure and software to promote awareness among the public
- Based on component, services captured the major market revenue accounting for nearly half of the market share in 2020 due to the significant rise in the software upgradation
- Software accounted for nearly 36% of the total market value and expected to show robust growth over the forthcoming years because of increasing demand for healthcare software, fitness apps, and various healthcare analytics platform
- In 2020, mHealth held the leading market position and accounted for a revenue share of more than 47% due to the rising penetration of internet and smartphones across the globe
- Health analytics expected to be the fastest growing segment over the forecast timeframe because of increasing advancements in the analytics platforms.
Digital Health Market Regional Analysis :
North America accounted for the largest market share of 38.77% in 2020 and will expand further at a steady CAGR over the forecast period. Rising healthcare costs, advancements in coverage networks, increasing adoption of smartphones, and a surge in demand for tele-healthcare services are driving the market growth in the region. According to the report published by Mckinsey in May 2020, the Covid-19 pandemic instigated a significant increase in the adoption and usage of telehealth in the U.S. Adoption of tele-health services by consumers has skyrocketed in the country, from 12.0% in 2019 to 45.0% in 2020 to replace the canceled healthcare visits.
Asia Pacific is anticipated to be the fastest-growing regional market over the forecast period. Rising smartphone penetration, increasing adoption of smart wearable devices, and a surge in demand for EMRs and EHRs are contributing to the growth of the regional market. Moreover, countries, such as Malaysia and Japan, have already established a national warehouse that enables data sharing between public hospitals. In addition, the rising demand for remote patient monitoring and related services owing to increasing government spending on healthcare is anticipated to propel market growth.
Companies and Manufacturers Covered
The study covers key players operating in the market along with prime schemes and strategies implemented by each player to hold high positions in the industry. Such a tough vendor landscape provides a competitive outlook of the industry, consequently existing as a key insight. These insights were thoroughly analyzed and prime business strategies and products that offer high revenue generation capacities were indentified. Key players of the global Digital Health market are included as given below:
Some of the prominent players in the Digital Health Market include: BioTelemetry Inc, eClinicalWorks, Allscripts Healthcare Solutions Inc, iHealth Lab Inc, AT & T, Honeywell International Inc, Athenahealth Inc., Cisco Systems, McKesson Corporation, Koninklijke Philips N.V., AdvancedMD Inc.
Unravelling the Critical Segments
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects including product type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2027 and covers subsequent region in its scope:
By Component
- Software
- Hardware
- Services
By Technology
- Telehealthcare
- Telehealth
- Video Consultation
- LTC Monitoring
- Telecare
- Remote Medication Management
- Activity Monitoring
- mHealth
- Apps
- Fitness Apps
- Medical Apps
- Wearables
- Glucose Meter
- BP Monitor
- Pulse Oximeter
- Neurological Monitors
- Sleep Apnea Monitor
- Others
- Digital Health Systems
- E-prescribing Systems
- Electronic Health Records
- Health Analytics
- Apps
- Telehealth
The regional segmentation covers:
-North America Region (U.S., Canada, Mexico)
-Europe Region (Germany, UK, France, Russia, Italy, Rest of Europe)
-Asia-Pacific Region (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
-South America Region (Brazil, Argentina, Columbia, Rest of South America)
-The Middle East & Africa Region (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
Final Report will add the analysis of the impact of COVID-19 on this industry.
Important years considered for this report:
Historical Years: 2017-2019
Base Year: 2020
Forecast Period: 2021-2027
Key Points Covered in Digital Health Market Survey
- Demand will remain high in the U.S., backed by favourable reimbursement policies and presence of some of the leading market players.
- Europe will continue showcasing high demand. Sales will remain high, especially in the U.K., Germany, France, and other countries.
- China and India will exhibit high demand for Digital Health, backed by expanding healthcare sector.
- Focus on research and development will increase in Brazil, creating opportunities for the expansion of the Digital Health market.
- Hospitals are expected to showcase higher demand for Digital Health on account of greater access to advanced technologies and higher footfall of patients.
- Driven by the presence of some of the leading pharmaceutical producers, demand in the Japan Digital Health market will continue increasing at a high pace.
Some of the key highlights covered in the report include:
- Digital Health Market Demand-Supply Analysis -The report covers detailed insights into demand and supply forces prevailing in the global Digital Health market. It examines trends and factors influencing demand for Digital Health globally and gauges the impact of the same on the production.
- Digital Health Pricing Analysis – The report presents exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
- Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
- Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for Digital Health across the world.
- Competitive Analysis – Some of the leading market players are profiled in the report on Digital Health. The report offers estimation of share individually helps by the market players and determines the impact of some of their popular strategies.
- COVID-19 Impact Analysis – This chapter is exclusively dedicated to gauging how the market has evolved or will develop in the post-pandemic era.
- Growth Recommendations – In the end, the report presents valuable recommendations to ready businesses for unforeseen challenges in the near future.
Table of content
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Digital Health Market, By Component
7.1. Digital Health Market, By Component, 2021-2027
7.1.1. Software
7.1.1.1. Market Revenue and Forecast (2016-2027)
7.1.2. Hardware
7.1.2.1. Market Revenue and Forecast (2016-2027)
7.1.3. Hardware
7.1.3.1. Market Revenue and Forecast (2016-2027)
Chapter 8. Global Digital Health Market, By Technology
8.1. Digital Health Market, By Technology, 2021-2027
8.1.1. Telehealthcare
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Telehealth
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Telecare
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. mHealth
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Wearables
8.1.5.1. Market Revenue and Forecast (2016-2027)
8.1.6. Digital Health Systems
8.1.6.1. Market Revenue and Forecast (2016-2027)
8.1.7. Health Analytics
8.1.7.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Digital Health Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, By Component (2016-2027)
9.1.2. Market Revenue and Forecast, By Technology (2016-2027)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, By Component (2016-2027)
9.1.3.2. Market Revenue and Forecast, By Technology (2016-2027)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, By Component (2016-2027)
9.1.4.2. Market Revenue and Forecast, By Technology (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, By Component (2016-2027)
9.2.2. Market Revenue and Forecast, By Technology (2016-2027)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, By Component (2016-2027)
9.2.3.2. Market Revenue and Forecast, By Technology (2016-2027)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, By Component (2016-2027)
9.2.4.2. Market Revenue and Forecast, By Technology (2016-2027)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, By Component (2016-2027)
9.2.5.2. Market Revenue and Forecast, By Technology (2016-2027)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, By Component (2016-2027)
9.2.6.2. Market Revenue and Forecast, By Technology (2016-2027)
9.3. APAC
9.3.1. Market Revenue and Forecast, By Component (2016-2027)
9.3.2. Market Revenue and Forecast, By Technology (2016-2027)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, By Component (2016-2027)
9.3.3.2. Market Revenue and Forecast, By Technology (2016-2027)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, By Component (2016-2027)
9.3.4.2. Market Revenue and Forecast, By Technology (2016-2027)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, By Component (2016-2027)
9.3.5.2. Market Revenue and Forecast, By Technology (2016-2027)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, By Component (2016-2027)
9.3.6.2. Market Revenue and Forecast, By Technology (2016-2027)
9.4. MEA
9.4.1. Market Revenue and Forecast, By Component (2016-2027)
9.4.2. Market Revenue and Forecast, By Technology (2016-2027)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, By Component (2016-2027)
9.4.3.2. Market Revenue and Forecast, By Technology (2016-2027)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, By Component (2016-2027)
9.4.4.2. Market Revenue and Forecast, By Technology (2016-2027)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, By Component (2016-2027)
9.4.5.2. Market Revenue and Forecast, By Technology (2016-2027)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, By Component (2016-2027)
9.4.6.2. Market Revenue and Forecast, By Technology (2016-2027)
9.5. Latin America
9.5.1. Market Revenue and Forecast, By Component (2016-2027)
9.5.2. Market Revenue and Forecast, By Technology (2016-2027)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, By Component (2016-2027)
9.5.3.2. Market Revenue and Forecast, By Technology (2016-2027)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, By Component (2016-2027)
9.5.4.2. Market Revenue and Forecast, By Technology (2016-2027)
Chapter 10. Company Profiles
10.1. BioTelemetry Inc
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. eClinicalWorks
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Allscripts Healthcare Solutions Inc
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. Allscripts Healthcare Solutions Inc
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. AT & T
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. AT & T
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Athenahealth Inc
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Cisco Systems
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. McKesson Corporation
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Koninklijke Philips N.V.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
Why should you invest in this report?
If you are aiming to enter the global Digital Health market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for Digital Health are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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