SkyQuest projects that the digital health market size will attain a value of USD 881 billion by 2031, with a CAGR of 18.6% over the forecast period (2024-2031). Surging demand for medical implants and the growing use of digital health in automotive and aerospace industries are estimated to bolster digital health market growth in the future. Rapid industrialization and urbanization are also forecasted to create new opportunities for digital health companies in the long run.
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Browse in-depth TOC on “Digital Health Market”
- Pages – 197
- Tables – 64
- Figures – 75
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Digital Health Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 211 Billion |
| Estimated Value by 2031 | $ 881 Billion |
| Growth Rate | Poised to grow at a CAGR of 18.6% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Technology, Application, End User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the world |
| Report Highlights | High investments in healthcare digitization |
| Key Market Opportunities | Increasing emphasis on consumerization of healthcare |
| Key Market Drivers | Rising use of big data and artificial intelligence in healthcare |
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Digital Health Market Segmental Analysis
The Global Digital Health Market is segmented by Component, Technology, Application, End User, and Region.
Based on Component, the market is segmented into Hardware, Software, Services.
Based on Technology, the market is segmented into Tele Healthcare (Telecare/Rpm, Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation), Mhealth(Wearables [Vital Signs Monitors, Peak Flow Meters, Fetal Monitors, Sleep Apnea Monitors, Neurological Monitors, Other wearables], Mhealth Apps [Medical Apps, Fitness Apps]), Digital Therapeutics (Preventive Applications, Treatment Applications), Health Management Solutions (Electronic Health Records, Healthcare Analytics, E-prescribing).
By Application, the market is segmented into Chronic Disease Management, Behavioral Health, Health & Fitness, and Other Applications.
By End User, the market is segmented into Providers (Hospitals & Clinics, Long-Term Care Centers & Assisted Living Centers), Payers (Public, Private), Patients & Consumers.
By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
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Rising Use of Telehealth Practices Helps Services Segment Lead Market Development
Growing demand for remote patient monitoring and increasing use of telehealth, telemedicine, and teleconsultation are driving up the demand for services in this market. Rising adoption of virtual care and home care practices are also expected to create new business scope for digital health companies and contribute to the dominant digital health market share as well.
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High Smartphone Penetration Makes mHealth an Opportune Segment Going Forward
Rapidly surging use of smartphones and mobile devices around the world and high emphasis on convenience in healthcare are slated to bolster the demand for mHealth in the future. Efforts to improve healthcare accessibility and improve health data tracking are also creating new opportunities for market players operating in the global digital health industry.
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Source – globenewswire
