Digital Health Market size was over USD 265.65 Billion in 2023 and is expected to exceed USD 1.72 Trillion by the end of 2036, witnessing over 15.5% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of digital health is evaluated at USD 302.71 Billion. The growth of the market can be attributed to the rising use of mobile applications for health and fitness, followed by rising efforts by government bodies to boost the digital health. For instance, more than 318,000 health apps were available for download in 2018 nearly twice as many as there were in the biggest app stores in 2015 across the globe. Also, to further the growth of healthcare, the United Nations and the World Health Organization introduced a General Plan of Work, 2019–2023, which involves accelerating the creation, expansion, and use of digital health solutions.
In addition to these, factors that are believed to fuel the market growth of digital health include the growing adoption of telehealth services and the rising use of smartphones by experts. Numerous telemedicine solutions, including websites, robots, and chatbots, enable virtual doctor visits and primary care, e-prescriptions, remote patient monitoring, and screening in real-time, all of which is playing a crucial role in providing timely attention to the patient. Almost 25% of doctors use mobile devices to provide patient care, and 4 out of 5 doctors use them to help with their daily tasks. Furthermore, telemedicine has become 50% more popular in behavioral health for scheduling virtual consultation with counsellors, psychologists, and other behavioral health.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
15.5% |
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Base Year Market Size (2023) |
USD 265.65 Billion |
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Forecast Year Market Size (2036) |
USD 1.72 Trillion |
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Regional Scope |
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Technology {Telehealthcare (Telecare, Telehealth), mHealth (Wearables, Apps), Healthcare Analytics, Health Systems
The global digital health market is segmented and analyzed for demand and supply by technology into telehealthcare, mhealth, healthcare analytics, and digital health systems. Out of the four types of technology, the telehealthcare segment is estimated to gain the largest market share in the year 2036. The growth of the segment can be attributed to the increasing use of telehealth facilities in hospitals. The advantages of telehealth include less risk of contracting diseases, improved access to care, and patient convenience. During the pandemic, hospitals increased the use of telehealth, virtual visits, video conversations, patient portals, and remote monitoring equipment. Compared to around 8% in 2017, nearly 26% of providers surveyed indicated telehealth is their organization's main agenda for 2022. Furthermore, in a study of 254 patients at Massachusetts General Hospital concerning telemedicine consultations, around 80% gave them an excellent rating for effectiveness and communication, and nearly 82% said they would suggest them to relatives and friends.
Component (Hardware, Software, Services)
The global digital health market is also segmented and analyzed for demand and supply by component into hardware, software, and services. Amongst these three segments, the software segment is expected to garner a significant share in the year 2036. Digital healthcare software is seen as a practical and affordable way to quicken the pace of digital innovation, helping providers to promote productivity, increase revenue, enhance the experience of both the patient and employee, and improve care quality. The segment growth is primarily attributed to the introduction of new software. For instance, in March 2022, GE Healthcare announced to launch Edison Digital Health Platform, which is advanced software that is created to provide holistic views of each patient and support integrated care pathway management by gathering information from numerous sources and vendors to enhance clinical applications.
Our in-depth analysis of the global market includes the following segments:
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By Technology |
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By Component |
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North American Market Forecast
The North American digital health market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2036. The growth of the market can be attributed majorly to the rising demand for electronic health records. Around 86% of non-Federal general acute care hospitals had adopted a 2015 Edition certified electronic health record, according to statistics from 2019 and 2021. (EHR). Comparatively, only 23% of specialty hospitals and 40% of rehab hospitals are using the HER. In addition to this, the growing use of telehealth services is also expected to augment the market growth in the region. In the United States, telehealth utilization increased from about 51% in February 2019 to over 62% in March 2021. In addition, the adoption of telehealth rose three times as fast in 2020 as it did in 2019.
APAC Market Statistics
The Asia Pacific digital health market, amongst the market in all the other regions, is projected to hold the second largest share during the forecast period. The growth of the market can be attributed majorly to the growing use of fitness apps. India saw the largest growth of 156% for health and fitness apps between Q1 and Q2 2020. Moreover, between 2020 and 2021, 76 million health applications were downloaded in India, a 38% rise over the previous year. In addition to this, the most well-liked medical app in China as of December 2021 was Ping An Good Doctor, which had about 12 million active monthly users. Besides this, the rising penetration of digitization in healthcare is also anticipated to boost the market growth. In India, over 80% of respondents are willing to increase their budget for digital healthcare and IT infrastructure in order to get better outcomes.
Europe Market Forecast
Further, the market in the Europe, amongst the market in all the other regions, is projected to hold a significant share by the end of 2036. The growth of the market can be attributed majorly to the increasing use of telehealth and telemedicine, owing to their benefits. In Germany, telemedicine interventions have reduced hospital admissions, decreased all-cause mortality for patients with heart failure, and increased quality of life. Furthermore, the region’s market growth is also ascribed to the rising use of the internet by people to solve health-related queries. According to the Eurostat ICT household survey, in the first quarter of 2020, 55% of EU citizens aged 16 to 74 conducted online searches for health-related information.
GE Healthcare
AVIA announces the launch of AVIA Marketplace, the innovative platform for innovators at health systems to examine, verify and choose the best digital health solutions. The platform connects providers of digital health solutions with those who need their products and services, enabling providers to reach relevant clients.
GE Healthcare announce the collaboration with Tribun Health with the aim to integrate Tribun's Health Suite data with GE Healthcare's products to provide a data management solution.
Author Credits: Radhika Pawar
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