Digital Health Market Analysis

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 2037. 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 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 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: