Digital Health Market Size Is Expected To Reach USD 509.2 Billion by 2025

The global digital health market size is expected to reach USD 509.2 billion by 2025, expanding at a CAGR of 27.7% over the forecast period, according to a new report by Grand View Research, Inc. Growing adoption of mHealth technologies by physicians to prescribe for self-management of chronic illness, such as diabetes, has propelled the growth of the market. For instance, Glooko is specifically used for management of diabetes. Availability of such apps in smartphones makes it easier for healthcare professionals to access patient information and diagnose diseases. Furthermore, increase in penetration of smartphones and internet connectivity are the key factors driving the market.

Growing need for improving workflow efficiency in hospitals and other healthcare centers is propelling the demand for mHealth services in healthcare administration. For instance, Results SMS in Uganda is an open source SMS-based platform providing appointment reminders. It gives appointment reminders as SMS to patients. In addition, mHealth services are disseminating essential medical information to healthcare professionals, which, in turn, is driving their adoption in healthcare communities as these help in training, updating, and educating about diagnosis and treatment.

Additionally, increasing pressure from the governments to reduce cost and rising demand for improved patient care are resulting in an increase in the demand for electronic health record (EHR) system. Recent advancements in EHR technology with the inclusion of interoperability, mobile, cloud, and big data are propelling the demand for advanced EHRs in the market. Companies are increasingly investing in developing innovative technologies in EHRs, which, in turn, is expected to boost demand in the market. For instance, in 2018, Allscripts launched Avenel, which is a mobile-first, cloud based EHR that uses machine learning to reduce time in clinical documentation and works more like an app.

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Further key findings from the study suggest: 

• In 2018, the mHealth technology segment held the largest revenue share owing to rising adoption of mHealth technologies among physicians and patients, increasing trend of preventive healthcare, and rising funding for mHealth startups
• Digital health systems occupied the second largest revenue share in 2018 owing to rising government initiatives to promote digital health, resulting in an increased adoption of digital systems among healthcare systems
• North America held the largest revenue share in 2018 owing to rapid growth in adoption of smartphones, advancements in coverage networks, rise in the prevalence of chronic diseases, and increase in geriatric population
• Asia Pacific is expected to expand at the fastest CAGR over the forecast period owing to increasing penetration of smartphones and smart wearable devices and rising adoption of mHealth services
• Key players operating in the digital health market include Apple Inc.; AirStrip Technologies; Allscripts; Google Inc.; Orange; Qualcomm Technologies Inc.; Mqure; Samsung Electronics Co. Ltd.; Telefonica S.A.; Vodafone Group; Cerner Corporation; and McKesson Corporation.

Grand View Research has segmented the global digital health market on the basis of technology, component, and region:

Digital Health Technology Outlook (Revenue, USD Million, 2014 - 2025)

• Tele Healthcare
  • Tele-care
    • Activity Monitoring
    • Remote Medication Management
  • Tele-health
    • LTC Monitoring
    • Video Consultation
  • mHealth
    • Wearables
      • BP Monitors
      • Glucose Meters
      • Pulse Oximeters
      • Sleep Apnea Monitors (PSG)
      • Neurological Monitors
      • Activity Trackers/ Actigraphs
    • mHealth Apps
      • Medical Apps
      • Fitness Apps
    • Services
    • mHealth Services Market, By Type
      • Monitoring Services
        • Independent Aging Solutions
        • Chronic Disease Management & Post-Acute Services
      • Diagnosis Services
      • Healthcare Systems Strengthening Services
      • Others
    • mHealth Services Market, By Participants
      • Mobile Operators
      • Device Vendors
      • Content Players
      • Healthcare Providers
    • Healthcare Analytics
    • Digital Health Systems
      • EHR
      • E-prescribing Systems

Digital Health Component Outlook (Revenue, USD Million, 2014 - 2025)

• Hardware
• Software
• Services

Digital Health Regional Outlook (Revenue, USD Million, 2014 - 2025)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • Spain
  • France
  • Italy
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.