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Global Digital Health Market: By Technology: Telehealthcare, mHealth, Health Analytics, Digital Health Systems, Others; By Component: Hardware, Software, Services; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments
Global Digital Health Market Market Outlook
The global digital health market attained a value of USD 95 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 16%.
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Increasing Use of Smartphones and Wearable Devices Boosting the Industry Growth
The utilisation of technology in healthcare has revolutionised the health care industry. The use of digital technology can make the consumer well-informed of various health adversaries while facilitating the diagnosis and prevention of various diseases. The surging number of smartphone users across the world is boosting the digital health industry rapidly. Moreover, the rising emphasis on physical and emotional wellbeing owing to the increasing chronic diseases, obesity, and mental illnesses, is also boosting the market growth of digital health. Wearable technology tracks and manages fitness and wellbeing activities to improve health care and health outcomes. Besides, the use of mobile apps to not only track one’s fitness level but also to diagnose and prevent an impending disease is driving the market growth. The rising geriatric population requiring long term care, which is quite expensive, primarily in the first-world countries, is being replaced by remote monitoring and telehealthcare, consequently boosting the market growth. Moreover, the increasing use of glucometers and BP monitors is catalysing the industry growth.
The use of technology in healthcare has also reduced the distance between doctors and patients by making healthcare services affordable and accessible. Health information technology uses electronic prescriptions and electronic medical records, which reduce medical errors and make the clinical process more transparent, aiding the digital health industry. It also enhances health outcomes by improving medical diagnosis, data-based treatment decisions, digital therapeutics, self-management and clinical trials. Moreover, it improves the healthcare system by creating more evidence-based knowledge, skills, and competence, further invigorating the market growth. World Health Organisation (WHO) envisions to enhance the digital health industry by research and development (R&D) and implement digital health technology in low and middle-income countries, consequently propelling the growth of digital health in developing and underdeveloped countries.
Digital Health: Industry Definition and Segmentation
Digital health is the use of various technologies, such as computing platforms, connectivity, software, and sensors for health care uses. Some of the categories of digital health include mobile health, wearable devices, personalised medicines, and health information technology, among others. It enhances the delivery of individual health care and can accurately diagnose diseases.
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Based on the technology, the market is segmented into:
- Telehealthcare
- mHealth
- Health Analytics
- Digital Health Systems
- Others
The major components of digital health are:
- Hardware
- Software
- Services
The EMR report looks into the regional markets of digital health like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Surge in the COVID-19 cases to Bolster the Market Growth of Digital Health
Technological advancements such as robotics, artificial intelligence (AI), and 3-D technology are driving and revolutionising the market growth. Moreover, the increasing number of chronic diseases worldwide due to rapid climate change and unhealthy lifestyles also augment the market growth. The surge of the unprecedented pandemic COVID-19 has challenged and consequently collapsed the healthcare infrastructure due to the exponential increase in the number of infected and scarce healthcare facilities. Digital technology acts as a boon for the industry, hence the digital health care industry is booming significantly. Governments all around the world are promoting remote health care and using various healthcare technologies to tackle the global crisis. The use of artificial intelligence and big data to predict and track the regional transmission of the virus is driving the market growth. Swedish Health Services, a health care organisation in the United States, has developed a platform for the health care professionals to track the status of facilities, increase hospital bed capacity, and allocate health care resources. Similarly, the Singapore Ministry of Health provides data to UpCode to depict infection trends across age, sex, and location. The use of innovations such as these is expected to propel the market growth.
As the second wave of the disease is surging in several parts of the world, various technologies are being used to contain the virus, further augmenting the growth of the digital health industry. Thermal scanning and screening in various countries to detect symptoms, such as fever, is propelling the market growth. The use of mobile technology to track asymptomatic patients is also lubricating the industry. The use of digital thermometer, oximeter, and heart rate detectors to identify the outbreak of the virus is also facilitating the market growth. Face recognition technology and global positioning system (GPS), operated in contact tracing the virus, is providing further impetus to the market growth. Moreover, various technologies are used in countries such as Singapore to track and supervise home isolations and quarantines. Besides, several countries, such as India, have developed apps that use Bluetooth technology to track the number of infected people in a region, consequently aiding the market growth. The pandemic has also increased the demand for remote supervision of chronic illness, which is expected to catalyse the market growth in the forecast period. As the vaccination process for the coronavirus rolls in several countries, digital health plays a crucial role in ensuring smooth vaccination, which can significantly boost the market growth.
Key Industry Players in the Global Digital Health Market
The report presents a detailed analysis of the following key players in the global digital health market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Apple Inc.
- Google LLC.
- AirStrip Technologies, Inc.
- Biotelemetry Inc
- iHealth Lab Inc
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Digital Health Market Analysis
8.1 Key Industry Highlights
8.2 Global Digital Health Historical Market (2016-2020)
8.3 Global Digital Health Market Forecast (2021-2026)
8.4 Global Digital Health Market by Technology
8.4.1 Telehealthcare
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2016-2020)
8.4.1.3 Forecast Trend (2021-2026)
8.4.2 mHealth
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2016-2020)
8.4.2.3 Forecast Trend (2021-2026)
8.4.3 Health Analytics
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2016-2020)
8.4.3.3 Forecast Trend (2021-2026)
8.4.4 Digital Health Systems
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2016-2020)
8.4.4.3 Forecast Trend (2021-2026)
8.4.5 Others
8.5 Global Digital Health Market by Component
8.5.1 Hardware
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2016-2020)
8.5.1.3 Forecast Trend (2021-2026)
8.5.2 Software
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2016-2020)
8.5.2.3 Forecast Trend (2021-2026)
8.5.3 Services
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2016-2020)
8.5.3.3 Forecast Trend (2021-2026)
8.6 Global Digital Health Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2016-2020)
9.1.2 Forecast Trend (2021-2026)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2016-2020)
9.2.2 Forecast Trend (2021-2026)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2016-2020)
9.3.2 Forecast Trend (2021-2026)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2016-2020)
9.4.2 Forecast Trend (2021-2026)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2016-2020)
9.5.2 Forecast Trend (2021-2026)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 EMR’s Key Indicators for Demand
10.4 EMR’s Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 Apple Inc.
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Google LLC.
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 AirStrip Technologies, Inc.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Biotelemetry Inc
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 iHealth Lab Inc
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 Others
List of Figures and Tables
1. Global Digital Health Market: Key Industry Highlights, 2016 and 2026
2. Global Digital Health Historical Market: Breakup by Technology (USD Billion), 2016-2020
3. Global Digital Health Market Forecast: Breakup by Technology (USD Billion), 2021-2026
4. Global Digital Health Historical Market: Breakup by Component (USD Billion), 2016-2020
5. Global Digital Health Market Forecast: Breakup by Component (USD Billion), 2021-2026
6. Global Digital Health Historical Market: Breakup by Region (USD Billion), 2016-2020
7. Global Digital Health Market Forecast: Breakup by Region (USD Billion), 2021-2026
8. North America Digital Health Historical Market: Breakup by Country (USD Billion), 2016-2020
9. North America Digital Health Market Forecast: Breakup by Country (USD Billion), 2021-2026
10. Europe Digital Health Historical Market: Breakup by Country (USD Billion), 2016-2020
11. Europe Digital Health Market Forecast: Breakup by Country (USD Billion), 2021-2026
12. Asia Pacific Digital Health Historical Market: Breakup by Country (USD Billion), 2016-2020
13. Asia Pacific Digital Health Market Forecast: Breakup by Country (USD Billion), 2021-2026
14. Latin America Digital Health Historical Market: Breakup by Country (USD Billion), 2016-2020
15. Latin America Digital Health Market Forecast: Breakup by Country (USD Billion), 2021-2026
16. Middle East and Africa Digital Health Historical Market: Breakup by Country (USD Billion), 2016-2020
17. Middle East and Africa Digital Health Market Forecast: Breakup by Country (USD Billion), 2021-2026
18. Global Digital Health Market Structure
Key Questions Answered in the Report
In 2020, the global digital health market attained a value of nearly USD 95 billion.
The market is projected to grow at a CAGR of 16% between 2021 and 2026.
The industry is being driven by the increasing use of smartphones and the rising emphasis on physical and mental well-being.
The market is aided by the surge in COVID-19 cases across the world, increasing chronic illnesses, and technological advancements and innovations.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major technologies of digital health in the industry are telehealthcare, mHealth, health analytics, and digital health systems, among others.
Hardware, software, and services are the components of digital health in the market.
The major players in the industry are Apple Inc., Google LLC., AirStrip Technologies, Inc., Biotelemetry Inc, and iHealth Lab Inc, among others.
Analyst Review
The global digital health market attained a value of USD 95 billion in 2020, driven by the rising use of smartphones and internet penetration. Aided by the increasing chronic illness and surge in the COVID-19 cases across the world, the market is expected to grow at a CAGR of 16% over the forecast period of 2021-2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its technology, the digital health industry can be segmented into telehealthcare, mHealth, health analytics, and digital health systems, among others. On the basis of components, the industry is divided into hardware, software, and services. The major regional markets for digital health are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Apple Inc., Google LLC., AirStrip Technologies, Inc., Biotelemetry Inc, and iHealth Lab Inc, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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