Digital Health Market to Hit $809.2 Billion by 2030: Grand View Research, Inc.

Read full market research report for latest industry insights, "Digital Health Market Size, Share & Trends Analysis Report By Technology (Healthcare Analytics, mHealth, Tele-healthcare, Digital Health Systems), By Component (Software, Hardware, Services), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Digital Health Market Growth & Trends

At present, telehealth and telemedicine services are receiving recognition from the healthcare industry and government bodies. Governments across the globe are introducing new initiatives to promote digital health. For instance, during the 2022 budget session, the Government of India introduced a digital health ecosystem under Ayushman Bharat Digital Health Mission (ABDM). The government invested more than 3.5 million in this program in order to advance the digital healthcare infrastructure.

The growing penetration rate of chronic diseases such as CVD, cancer, diabetes, and others further fuels the market growth as chronic conditions require continuous monitoring and digital health platforms help in monitoring chronic conditions from any place and at any time. Furthermore, COVID-19 impacted the market positively as a large percentage of the patient population opted for telemedicine and telehealth solutions due to infection risks and lockdown scenarios.

In 2022, telehealthcare dominated the market with a revenue share of 41.5%. The market growth can be attributed to the rising penetration of smartphones, and improvement in internet connectivity. Advancements in the healthcare IT infrastructure and the launching of new platforms and solutions further fuelled the segment's growth.

In 2022, North America dominated the industry with a revenue share of 44.3%. North America is one of the very first regions to adopt smart healthcare solutions, including various technologies such as mobile apps, smart wearables, and eHealth services, like EHR & telemedicine services, for remote access to information on serious & chronic healthcare conditions. Factors such as rapid growth in the adoption of smartphones, advancements in coverage networks, rise in the prevalence of chronic diseases, increase in geriatric population, rise in costs of health care, acute shortage of primary caregivers, and increase in need for improved prevention & management of chronic conditions are responsible for the growth of digital health services in the region.

Digital Health Market Segmentation

Grand View Research has segmented the digital health market based on technology, component, and region

Digital Health Market - Technology Outlook (Revenue, USD Million, 2016 - 2030)

Digital Health Market - Component Outlook (Revenue, USD Million, 2016 - 2030)

Digital Health Market - Component Regional Outlook (Revenue, USD Million, 2016 - 2030)

List of Key Players of the Digital Health Market

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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