Digital Health Industry to Witness Huge Growth from 2022 - 2030
Digital Health Industry | Forecast 2030
Digital Health Industry Data Book - Tele-Healthcare, mHealth, Healthcare Analytics and Digital Health System Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030
Global digital health systems market size was valued at USD 31.4 billion in 2022 is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030.
Access the Global Digital Health Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies
mHealth Market Growth & Trends
The global mHealth market size is expected to reach USD 130.6 billion by 2030 and is expected to expand at a CAGR of 10.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing adoption of mHealth apps and technologies by physicians and patients and rise in penetration of internet and smartphone connectivity are among the major factors expected to drive the growth of the market. Besides, increasing government initiatives towards the digitalization of healthcare services are also anticipated to boost the adoption of mobile health platforms.
Based on component, mHealth apps dominated the market and accounted for revenue share of 75.4% in 2021. This high share is attributable to constantly developing startup ecosystems across the globe and increasing investments by key players to develop new health-based apps. In addition, benefits provided by these apps in maintaining health and lifestyle and managing health condition are some of the other factors boosting the growth of the segment.
Based on services, the monitoring services segment dominated the market with a revenue share of 61.5% in 2022. Monitoring services mainly involve the observation of health conditions, diseases, and other complicated medical parameters for a defined time. The rising prevalence of chronic diseases and increasing preference for remote monitoring services in post-acute care are some of the factors contributing to the growth of this segment. In addition, increasing investments by the key players in mobile health apps for patient monitoring is also expected to propel the segment growth over the years.
Healthcare Analytics Market Growth & Trends
The global healthcare analytics market size is expected to reach USD 167.0 billion by 2030, expanding at a CAGR of 21.4% during the forecast period, according to a new report by Grand View Research Inc. The increase in capital investments by the healthcare industry in the IT sector for better management and cost-effective patient care are key growth factors for the healthcare analytics market.
Descriptive analytics holds the biggest revenue share, its use in studying historical data has been successfully and widely adopted during the pandemic for studies on patient populations, the current method of analysis has been studying historical data to devise actionable insights for professionals to act on. Predictive analytics accounted for the fastest growth owing to the ability to provide future prospects for growth and for delivering better results.
By component, the services component had the largest revenue share in 2022, owing to the majority of healthcare institutes outsourcing their data analytics to third-party vendors. A large number of data analytics companies have been collaborating with the institutions to deliver meaningful insights for better patient care and for maximizing their profits by cost-cutting. Better patient monitoring, and care are key factors for the growth of this component.
The on-premises delivery model holds the largest revenue share in the delivery mode segment. This has been due to the ease of access of data being on the site, i.e., at hospitals, etc. this has resulted in better patient monitoring, better management of records, etc., small institutions are manageable for on-premises delivery mode, another option for data storage is cloud-based. Cloud-based deployment has been the emerging delivery mode due to the fact that it provides a larger space virtually to store data for a multitude of patients. This is cost-effective and is a commercially more viable option for industries.
Order your copy of the Free Sample of “Digital Health Industry Data Book - Tele-Healthcare, mHealth, Healthcare Analytics and Digital Health System Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 - 2030” Data Book, published by Grand View Research
Healthcare Analytics Market Growth & Trends
The global healthcare analytics market size is expected to reach USD 167.0 billion by 2030, expanding at a CAGR of 21.4% during the forecast period, according to a new report by Grand View Research Inc. The increase in capital investments by the healthcare industry in the IT sector for better management and cost-effective patient care are key growth factors for the healthcare analytics market.
Descriptive analytics holds the biggest revenue share, its use in studying historical data has been successfully and widely adopted during the pandemic for studies on patient populations, the current method of analysis has been studying historical data to devise actionable insights for professionals to act on. Predictive analytics accounted for the fastest growth owing to the ability to provide future prospects for growth and for delivering better results.
By component, the services component had the largest revenue share in 2022, owing to the majority of healthcare institutes outsourcing their data analytics to third-party vendors. A large number of data analytics companies have been collaborating with the institutions to deliver meaningful insights for better patient care and for maximizing their profits by cost-cutting. Better patient monitoring, and care are key factors for the growth of this component.
The on-premises delivery model holds the largest revenue share in the delivery mode segment. This has been due to the ease of access of data being on the site, i.e., at hospitals, etc. this has resulted in better patient monitoring, better management of records, etc., small institutions are manageable for on-premises delivery mode, another option for data storage is cloud-based. Cloud-based deployment has been the emerging delivery mode due to the fact that it provides a larger space virtually to store data for a multitude of patients. This is cost-effective and is a commercially more viable option for industries.
Competitive Landscape
Key players operating in the digital health industry are -
- Apple Inc.
- AT&T
- AirStrip Technologies
- Allscripts
- Google Inc.
- Orange
- Qualcomm Technologies, Inc.
- Softserve
- Samsung Electronics Co., Ltd.
- MQure
Grand View Research’s Digital Health Industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
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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.
