digital health Market

The global digital health market is expected to reach US$ 1,909,524.56 billion in 2030 from US$ 306,443.04 billion in 2022. The market is estimated to grow with a CAGR of 25.7% from 2022 to 2030.

The key factors driving the market's growth include increasing internet connectivity and smart device penetration, rising government regulatory support and policy initiatives, and technological development in healthcare IT infrastructure. However, the safety concerns associated with data and privacy breaches hinder market growth.

Market Drivers of the Digital Health Market

Regulatory support and government initiatives are crucial in shaping and advancing digital health. These efforts encompass various policies, regulations, funding mechanisms, and strategic initiatives to improve digital health solutions' adoption, integration, and effectiveness. For instance, the US agency International Development (USAID) envisions utilizing digital technologies to enable individuals to access crucial information and services, leading to healthy and prosperous living. The agency has designed a dedicated policy guideline, "Vision for Action in Digital Health," which directs its investments in digital technologies supporting health programs in partner countries. Similarly, in 2022, the Government of India launched the Ayushman Bharat Digital Health Mission (ABDM) to create a digital health ecosystem. Similarly, in October 2021, the French government invested over US $650 million to enhance its national digital health infrastructure.

Moreover, the World Health Organization (WHO) defines Digital Health as "the application of Information and Communication Technologies (ICT) to Health" in its National Strategy for e-Health or Digital Health Toolkit. According to WHO, in 2020, more than 75% of eligible providers and 90% of eligible hospitals received funds for participating in the government program encouraging hospitals to allow patients to view, download, and transmit their health information. In May 2020, the Federal Health IT Strategic Plan 2020-2025 was proposed by the US federal government to mandate the use of EHR by healthcare providers. Therefore, the rising government regulatory support and policy initiatives drive the growth of the digital health market.

Trends in the Digital Health Market

Digital health technologies (DHTs) have improved clinical trials, allowing the collection of real-world data outside of the traditional clinical setting and adopting more patient-centered approaches. DHTs can take many forms, such as software, hardware, and telemedicine platform solutions. In recent years, technological advancements such as wearables, mobile apps, and virtual platforms have revolutionized clinical trials, opening up new possibilities for remote patient monitoring, real-time data analysis, and patient engagement. In neurology trials, DHTs have already been shown to provide better data from real-life settings. The advancements in DHTs have started to influence clinical trial design and enable more patient-centered research, which can lead to data-driven decisions in the real world. For instance, in an article published by npj digital medicine in May 2023, a study was carried out to analyze the usage of DHTs in clinical trials registered on ClinicalTrials.gov for four chronic neurological disorders, namely epilepsy, multiple sclerosis, Alzheimer's disease, and Parkinson's disease. It was found that the use of DHTs in clinical trials increased from 0.7% in 2010 to 11.4% in 2020.

Therefore, the adoption of virtual clinical trials and remote research in healthcare is anticipated to boost the growth of digital health market.

Digital Health Market: Segmental Overview

The digital health market, by offerings, is segmented into software, services, and hardware. The services segment held the largest market share in 2022 and is anticipated to register the highest CAGR during 2022-2030.

The digital health market, by technology, is segmented into mHealth, tele-healthcare, digital health systems, and others. The mHealth segment held the largest market share in 2022. However, the tele-healthcare segment is expected to grow fastest from 2022 to 2030.

The digital health market, by application, is segmented into chronic disease management, behavioral health, health and fitness, and others. In 2022, the chronic disease management segment held the largest market share.

The digital health market, by end-user, is segmented into hospitals & clinics, patients & consumers, and others. The hospitals & clinics segment held the largest share in 2022.

Digital Health Market: Geographical Overview

Asia Pacific is expected to register the highest CAGR from 2022 to 2030, primarily due to the advancements in technology and healthcare services, as well as changes in the regulatory policies of the region. Additionally, governments of countries such as Japan, China, and India are taking initiatives to encourage digital healthcare solutions. This is anticipated to boost the growth of the digital health market in the region.

In 2022, North America held the largest share of the global Digital Health market size. The digital health market in North America is segmented into the US, Canada, and Mexico. The transformation of digital healthcare and the increasing adoption of smart healthcare solutions, including various technologies like mobile apps, smart wearables, and eHealth services such as EHR and telemedicine services, which allow remote patient monitoring, majorly drive the market.