Digital Health Market Size to Reach USD 1,001.8 Billion by 2032 | CAGR: 16.5% | DataHorizzon Research

Fort Collins, Colorado, Sept. 12, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Digital Health Market Size, Growth, Share, Statistics Report, By Product (Tele-healthcare, mHealth, Healthcare Analytics, And Digital Health Systems), By Component (Software, Hardware, And Services), By Region And Segment Forecasts, 2023-2032." 

According to DataHorizzon Research, the digital health market size was valued at USD 218.9 Billion in 2022 and is expected to reach USD 1,001.8 Billion by 2032 with a CAGR of 16.5%. It's hard to ignore the prevalence of smartphones in today's society, which is constantly advancing in sophistication. Due to the emergence of 4G/5G, internet connectivity has greatly improved, with significant progress in IT infrastructure in the healthcare industry. The COVID-19 pandemic and global lockdowns have emphasized the significance of digital healthcare delivery. This is where digital health comes into play by utilizing information and communication technologies to manage chronic illnesses remotely.

Several factors contribute to the growth of this market, including the need to reduce healthcare costs and the increasing incidence of chronic diseases. The convenience of accessing virtual care from anywhere cannot be overlooked. But it's not just about the numbers. Industry leaders are also dedicated to developing innovative applications that will enhance the digital healthcare experience to the next level.

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Report Snapshot:

Segmentation Overview:

The digital health market has been segmented based on product, component, and geography. The telehealth industry holds a significant market share due to its advanced products. This is because more patients are turning to technology-based methods that offer health management tools and convenient access to services, even in remote locations. Consequently, companies are implementing innovative ways to cater to their clients, positively impacting the market growth. The software sector is anticipated to experience substantial growth over the projected time frame. This growth can be attributed to the advancements in software innovation, which have improved remote monitoring capabilities and enhanced patient experience.

North America has emerged as a dominant force in adopting smart healthcare solutions, encompassing a range of technologies, including mobile applications, smart wearables, and eHealth services.

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Key Developments in the Digital Health Market:

• Nuance and Epic have teamed up to introduce the Nuance Dragon Ambient Experience Express (DAX Express) solution, which improves the healthcare experience for patients and providers.

• Nova Scotia, NSHA, and IWK signed a 10-year deal with Oracle Cerner to use an electronic care record system. The system will improve patient information exchange for over one million people.

Digital Health Market Report Highlights:

• The digital health market size is projected to reach a CAGR of 15.5% by 2032. Digital health uses technology to manage chronic illnesses remotely. It includes mobile health, wearables, telehealth, health IT, and personalized medicine. It empowers individuals to detect diseases early and manage chronic conditions.

• The telehealth industry is growing due to technology-based health management tools and convenient remote access. Innovative solutions are driving market growth, led by advancements in software and remote monitoring capabilities.

• Prominent players in the digital health market report include Cerner Corporation, Allscripts, Apple, Inc., Telefónica S.A., Mckesson Corporation, Epic Systems Corporation, QSI Management, LLC, AT&T, Vodafone Group, HiMS, Qualcomm Technologies, Inc., Softserve, MQure, Computer Programs and Systems, Inc., Vocera Communications.

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Digital Health Market Report Segmentation:

Digital Health Market, By Product (2023-2032)

• Tele-healthcare
• mHealth
• Healthcare Analytics
• Digital Health Systems

Digital Health Market, By Component (2023-2032)

• Software
• Hardware
• Services

Digital Health Market, By Region (2023-2032)

• North America
  • U.S.
  • Canada

• Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific

• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa

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