The global digital health market size was USD 175.20 Billion in 2021 and register a revenue CAGR of 27.2% over the forecast period, according to the latest analysis by Emergen Research. Increasing health expenditure by government of various countries and rapid adoption of digitalization in health services are key factors driving global digital health market revenue growth.
Governments of various countries have increased their public health expenditure post COVID. Developing countries, such as India, have increased their healthcare expenditure by 2.1% of their GDP. Similarly, in the UK current healthcare expenditure grew by 7.1% in 2021. In addition, central and state budgets have increased their priority in healthcare, which impacts citizens against financial hardships due to Out-Of-pocket expenditures made for healthcare. Increased public health spending lowers patients overall Out-OOP, facilitating access to healthcare, particularly for underprivileged and marginalized. OOP expenses are payments made upfront by patients at Point of Care (PoC) when no financial protection plan covers full cost of medical care. Furthermore, increasing health expenditure by governments of various countries is driving market revenue growth substantially.
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Digital technologies provide preventative, clinical, and rehabilitative treatments as well as solutions that are based on needs. These technologies might also make it possible for medical professionals, facilities, and health systems to organize through copious amount of information in their health databases to more directly measure diagnostic errors and lower their likelihood of happening again in the future. Moreover, computer-aided detection has also been useful in assisting radiologists in more rapidly and reliably examining images for patterns connected to underlying diseases, such as breast cancer, during mammography screening. Rapid adoption of digitalization in health services is expected to drive market revenue growth to a greater extent.
The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans. The report also discusses in detail the recent mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, agreements, corporate and government deals, and partnerships, among others. The report also sheds light on the recent technological developments and product advancements in the Digital Health market.
Furthermore, the report provides details about the new players entering the market, and entry-level barriers and offers strategic recommendations to overcome those barriers to gain a substantial industry presence.
Key players involved:
Allscripts Healthcare, LLC, Cisco Systems, Inc., McKesson Corporation, Koninklijke Philips N.V., Cerner Corporation (Oracle Corporation), NXGN Management, LLC., Epic Systems Corporation., SoftServe, AirStrip Technologies, Inc., and Healthcare Information, and Management Systems Society, Inc.
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Key Highlights from the Report
On 09 March 2022, Epic Systems Corporation announced to launch Garden Plot, a new software-as-a-service developed for independent medical groups. This model is designed to make it easier for providers who might find the transition to a new system burdensome to utilize ready-to-use epic solutions.
The tele-healthcare segment is expected to account for largest share over the forecast period. Increasing demand for telehealthcare services due to recent pandemic and growing popularity of virtual healthcare services are expected to contribute to revenue growth of the market.
The services segment accounted for largest revenue share in 2021 due to presence of major digital health service providers and rise in new start-ups, providing analytics and cloud services to major healthcare providers.
Regional analysis includes an in-depth study of the key geographical regions to gain a better understanding of the market and provide an accurate analysis. The regional analysis covers North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis covers the analysis of key market segments, including revenue, CAGR, import/export, supply and demand ratio, production and consumption ratio, industrial chain analysis, and market dynamics in each region of the geographies.
Emergen Research has segmented the global digital health market based on technology, component, end user, and region:
Technology Outlook (Revenue, USD Billion, 2019–2030)
Digital health systems
Component Outlook (Revenue, USD Billion, 2019–2030)
End User Outlook (Revenue, USD Billion, 2019–2030)
Key Benefits of Buying the Global Digital Health Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Digital Health Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Digital Health Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Digital Health Market
Chapter 1: Methodology & Scope
Definition and forecast parameters
Methodology and forecast parameters
Technological and innovation landscape
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