The Worldwide Digital Health Industry is Expected to Reach $456 Billion by 2027 at a 17.5% CAGR

Dublin, Oct. 25, 2022 (GLOBE NEWSWIRE) -- The "Global Digital Health Market Size, Trends & Growth Opportunity, By Product & Service mHealth, By Component, By End User, By Region and Forecast till 2027." report has been added to's offering.

The Global Digital Health Market was valued at US$ 150,884.30 Mn in 2021, estimated to reach US$ 456,340.45 Mn in 2027, with a CAGR of 17.52% from 2021-2027.

Digital health is defined as the use of information & communication technologies in the healthcare sector for the management of chronic disease from remote areas. Digital health solution aims to enhance patient care, disease management, and the overall healthcare experience for the user. This solution also enables healthcare providers to access health records, prepare a diagnosis history, reduce the need for duplicate tests & make efficient decisions. It also facilitates the identification of new illnesses/the worsening of existing ailments while lowering the total costs of healthcare.

Market Drivers

The use of smartphones by physicians in the United States has skyrocketed, resulting in increased digital health practice. Smartphones, tablets, and other mobile platforms are used by one-third of all adults in the United States, with doctors using them twice as much as the general population. For instance, it is estimated that over 5 billion people worldwide own a mobile device, with smartphones accounting for more than half of them.

This has resulted in a massive increase in the number of mobile applications for healthcare needs, fueling the industry's advancement. Furthermore, rapidly improving IT infrastructure, favorable government initiatives, rising demand for remote patient monitoring services, and increased venture capitalist investments will boost industry revenue.

Market Restraints

IT professionals are particularly interested in information security. Cyber-attacks in the industrial and consumer sectors have been widely reported in the past, and recent cyber-attacks in the healthcare sector are cause for concern.

The Food and Drug Administration (FDA) has established certain standards for digital health cyber security that are currently in use in the healthcare sector. This includes identifying a vulnerability or weakness in software, hardware, or another factor that may pose a risk in the application. This is due to the high risk of cyber-attacks, which are expected to slow down the Digital Health Market.

Market Segmentation

The Global Digital Health Market is segmented into product & service such as mHealth (mHealth Devices (Blood Glucose Meter, BP Monitors, Cardiac Monitors, Neurological Monitors, Apnea & Sleep Monitors, Pulse Oximetry, Wearable Fitness Sensor Devices & Heart Rate Meters, and Others), mHealth Services (Prevention Services, Diagnostic Services, Monitoring Services, Treatment Services, Wellness & Healthcare System Strengthening Solutions, eHealth, Vendor Neutral Archive (VNA) and Picture Archiving & Communications Systems (PACS), Electronic Health Records (EHR), Laboratory Information Systems (LIS), Telehealth, Prescribing Solutions, Medical Apps, Clinical Decision Support Systems (CDSS), Pharmacy Information Systems, and Others.

By Component, market is segmented into Hardware, Software, and Service. Further, market is segmented into end user such as Healthcare Providers, Payers, Healthcare Consumers, and Others

Regional Analysis

The Global Digital Health Market is segmented into five regions such as North America, Europe, Asia Pacific, Latin America, and MEA.

The market in North America is projected to dominate the Digital Health market owing to rise in prevalence of chronic diseases, presence of key players, adoption of smartphone users, and advancements in healthcare information technology in the region.

Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2027 due to increase in prevalence of chronic diseases, rise in geriatric population, increase in demand for remote monitoring services, and rise in number of internet users.

Key Players

Allscripts Healthcare Solution, Inc., Cerner Corporation, Cisco Systems, eCLINICALWORKS, General Electric company, Koninklijke Philips N.V, Honeywell International Inc., Mckesson Corporation, Siemens Healthineers, Qualcomm technologies, Inc., etc.

Key Questions Addressed by the Report

  • What are the Key Opportunities in Global Digital Health Market?
  • What will be the growth rate from 2021 to 2027?
  • Which segment/region will have highest growth?
  • What are the factors that will impact/drive the Market?
  • What is the competitive Landscape in the Industry?
  • What is the role of key players in the value chain?

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Global Digital Health Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 Global Digital Health Market, By Product & Service
5.1 Y-o-Y Growth Comparison, By Product & Service
5.2 Global Digital Health Market Share Analysis, By Product & Service
5.3 Global Digital Health Market Size and Forecast, By Product & Servic

6 Global Digital Health Market, By Component
6.1 Y-o-Y Growth Comparison, By Component
6.2 Global Digital Health Market Share Analysis, By Component
6.3 Global Digital Health Market Size and Forecast, By Component
6.3.1 Hardware
6.3.2. Software
6.3.3. Services

7 Global Digital Health Market, By End User
7.1 Y-o-Y Growth Comparison, By End User
7.2 Global Digital Health Market Share Analysis, By End User
7.3 Global Digital Health Market Size and Forecast, By End User
7.3. 1 Healthcare Providers
7.3.2. Payers
7.3.3. Healthcare Consumers
7.3.4. Others

8 Global Digital Health Market, By Region
8.1 Global Digital Health Market Share Analysis, By Region
8.2 Global Digital Health Market Share Analysis, By Region
8.3 Global Digital Health Market Size and Forecast, By Region

9 North America Digital Health Market Analysis and Forecast (2021-2027)

10 Europe Digital Health Market Analysis and Forecast (2021-2027)

11 Asia Pacific Digital Health Market Analysis and Forecast (2021-2027)

12 Latin America Digital Health Market Analysis and Forecast (2021-2027)

13 Middle East Digital Health Market Analysis and Forecast (2021-2027)

14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies

15 Company Profiles
15.1 Allscripts Healthcare Solution, Inc.
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2. Cerner Corporation
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3. Cisco Systems
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Songwon Industrial Co. Ltd.
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 General Electric company
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Koninklijke Philips N.V
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Honeywell International Inc.
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Mckesson Corporation
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 Siemens Healthineers
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
15.11 Qualcomm technologies, Inc.
15.11.1 Overview
15.11.2 Offerings
15.11.3 Key Financials
15.11.4 Business Segment & Geographic Overview
15.11.5 Key Market Developments
15.11.6 Key Strategies

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