Digital Health Market size is predicted to expand from USD 305.74 billion to USD 1.98 trillion, registering a CAGR of over 15.3% during the forecast timeline, from 2025 to 2037. In the year 2025, the industry size of digital health is assessed at USD 343.65 billion.
The market growth is driven by 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, 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, Growing adoption of telehealth services and the rising use of smartphones by experts will propel the market revenue. 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 |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
15.3% |
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Base Year Market Size (2024) |
USD 305.74 billion |
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Forecast Year Market Size (2037) |
USD 1.98 trillion |
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Regional Scope |
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Technology {Telehealthcare (Telecare, Telehealth), mHealth (Wearables, Apps), Healthcare Analytics, Health Systems}
The telehealthcare segment is estimated to gain the largest digital health market share by 2037, propelled by 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 software segment is expected to garner a significant digital health market share by 2037. 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 also attributed to 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 is estimated to account for majority revenue share by 2037. The market growth can be attributed to 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.
APAC Market Statistics
The Asia Pacific digital health market is expected to grow at a lucrative CAGR during the forecast period, due to 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 will boost the market expansiob. 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 is poised to hold significant share by the end of 2037, propelled by 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 regional market growth is also ascribed to 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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