Digital Health Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

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Digital Health Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2022 - 2032

Status : October, 2022 | Healthcare IT

Report Digest


Digital Health Market: Overview

The digital health market is likely to grow at a CAGR of 27.7% in the foreseeable years from 2022 to 2032. Growing healthcare expenditure, advancement in the healthcare IT infrastructure, improving internet connectivity, and increasing smartphone penetration are some pivotal factors that are likely to propel novel growth opportunities in the digital health market. 

Increasing accessibility of virtual care, growing demand for the services with remote patient monitoring, and rising cases of chronic diseases are further estimated to propel growth opportunities in the market. Cancer, cardiovascular diseases, Alzheimer’s diseases, and diabetes are some healthcare issues that require patient monitoring services and long-term care. Furthermore, telehealth and telemedicine services are adopted at an increased rate by the healthcare fraternity and also receive recognition from private players and government bodies. These factors are further likely to propel expansion opportunities in the digital health market.

Digital Health Market: Key Trends

The scope of smartphones has been broadening from the devices used for entertainment and communication to the devices used to monitor health & fitness. Along with this, the market players have been developing various innovative mobile applications in order to track routine activities, for instance, well-being, nutrition, exercise, and fitness. Thus, owing to these features, the device ensures comfort for the user and deliver quality healthcare services.

Mobile applications enable users to gain the information to track & order their respective medical prescriptions, store their healthcare information, track consultations, schedule appointments, and gain information related to medical inquiries. Various companies around the world are concentrating to improve the experience of mobile health while providing different subscription plans. These players also take initiatives to enhance the features related to data security that is predicted to bolster revenue generation opportunities in the digital health market in the near future.

Digital Health Market: Competitive Dynamics and Key Developments

The players serving in the digital health market are generally incorporating different strategies for the generation of novel growth impetuses in the upcoming years. Acquisitions & mergers, collaborations, novel product launches, agreements, partnerships, portfolio expansion, and various others are some strategies that are incorporated by industry players.

The key players serving in the digital health market include:

  • AirStrip Technologies
  • Mckesson Corporation
  • QSI Management, LLC
  • Cerner Corporation
  • Google, Inc.
  • Allscripts
  • Epic Systems Corporation
  • Vodafone Group
  • Apple, Inc.
  • Telefónica S.A.
  • AT&T

Digital Health Market: Regional Assessment

The digital health market has been analyzed across prominent geographical locations that include, North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. North America, out of these geographical locations has been anticipated to hold a dominating position in the market along with its significant contribution to revenue. Readiness to adopt different advanced technological solutions, technological literacy, and increased healthcare IT expenditure in order to advance infrastructure are some pivotal factors that are predicted to bolster growth opportunities in the market. Furthermore, advancements in internet connectivity, numerous funding options to stimulate smartphone penetration, the emergence of startups, and favorable government initiatives are also expected to bolster expansion opportunities in the digital health market. Increasing cases of chronic disorders, a growing geriatric population, changing lifestyles, and globalization are also propelling growth impetuses in the market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

Frequently Asked Questions

Growing healthcare expenditure and advancement in the healthcare IT infrastructure are estimated to boost growth avenues in the digital health market.
North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa
Broadening scope of smartphones from communication and entertainment device to health and fitness monitoring device is likely to bolster growth avenues in the digital health market.
Improvement in internet connectivity and rising smartphone penetration are likely to attract trends in the digital health market.
The pandemic has put positive impact on the digital health market growth due to rapid adoption of the telehealth solutions in order to avoid in-person consultations.
Rapid expenditure on healthcare services in the post-pandemic era estimated to create novel growth avenues in the market.
Threat to security related to individual data is predicted to limit growth opportunities in the digital health market.