Digital Health Market Size to Grow by $207.34 Billion | Driven by the use of AI in digital health | Technavio


The digital health market is classified by Technavio as part of the global health technology market. The Digital Health Market research report provides valuable insights into the post-pandemic impact on the market, which will help companies to evaluate their business approaches.

Product information and news

The Digital Health Market forecast report offers in-depth information about key vendor profiles. The profiles include production, sustainability and outlook information from key companies. For example, Alphabet Inc., a leading vendor, offers a platform for developing interoperability resources in healthcare and digital services based on an application programming interface.

See the market report insights to know more about vendors in the market

Supplier Information

The report identifies the following as the dominant vendors in the market:

  • Alphabet Inc.
  • Apple Inc.
  • Cisco Systems Inc.
  • General Electricity Company.
  • International Business Machines Corp.
  • Koninklijke Philips NV
  • McKesson Corp.
  • Qualcomm Inc.
  • Samsung Electronics Co.Ltd.

Siemens Healthineers AG

Digital Health Market: Key Drivers

The increase in the number of mergers and acquisitions activity leads the digital health market. Strategic vendor M&A activities support the development of effective products and increase the profit margin of service providers. Investments are made in the form of either capital outflows to develop new service offerings or acquisitions of other service providers. For example, in April 2019, the company, which is a women’s health group, completed the acquisition of Pacify, a telehealth company that primarily focuses on virtual perinatal care for new moms and expectant parents. Through these business strategies, both companies aim to offer obstetrics and gynecology services and provide relationship-oriented and technologically advanced products.

Digital health market: main challenges

The threat of open source service providers should be a major obstacle to the digital health market during the forecast period. There are many open source vendors that offer a wide range of digital health solutions in the digital health market. A combination of multiple products from multiple open source vendors can deliver all of the functionality provided by proprietary on-premises and cloud-based digital health solution providers. Open source software offers features such as better credibility, unconstrained innovations, and decentralized control. This is negatively impacting the market share of proprietary players in the digital health market. NHS England is a non-departmental public body of the Department of Health in the United Kingdom which uses open source IT solutions in the field of health to make health services accessible to all. Healthcare professionals can bridge the gap between staff and technology by including more feedback on software improvements and uses.

Scope of the digital health market

Report cover

Details

Page number

120

Year of reference

2019

Forecast period

2020-2024

Growth momentum and CAGR

Accelerate at a CAGR of 20.16%

Market Growth 2020-2024

$207.34 billion

Market structure

Concentrate

Annual growth (%)

18.98

Regional analysis

North America, Europe, APAC and South America

Successful market contribution

North America at 46%

Main consumer countries

US, UK, China, Japan and Germany

Competitive landscape

Leading Companies, Competitive Strategies, Consumer Engagement Reach

Profiled Key Companies

Alphabet Inc., Apple Inc., Cisco Systems Inc., General Electric Co., International Business Machines Corp., Koninklijke Philips NV, McKesson Corp., Qualcomm Inc., Samsung Electronics Co. Ltd. and Siemens Healthineers AG

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, COVID 19 Impact and Recovery Analysis and Future Consumer Dynamics, Market Status Analysis for the forecast period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

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North America Contribution to the digital health market

Awareness of technological advances and better infrastructure in the health sector is should propel the digital health market become thin North America over the forecast period. The region should contribute 46% market growth as countries like the US are the top digital health markets. Market growth in North America is expected to outpace market growth in other regions.

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Market segmentation

The digital health market is split by application into wireless health segment, mobile health segment, telehealth segment and EHR segment. The wireless health segment is expected to be the major contributor to the market over the forecast period. Wireless health involves the use of wireless technologies in traditional medical activities such as the diagnosis and treatment of disease. Wireless Radio Frequency Identification (RFID) technology is another popular wireless technology used in the healthcare sector, thus driving the demand for this segment and also contributing to the growth of the digital health market during the forecast period.

Highlights

  • Market CAGR over the forecast period 2020-2024
  • Comprehensive details of the factors that will challenge the growth of the Digital Health Market vendors
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • In-depth information on factors that will drive the growth of the Digital Health Market over the next five years
  • Accurate estimation of the digital health market size and its contribution to the parent market
  • An in-depth analysis of the market competitive landscape and detailed vendor information
  • The growth of the digital health industry through North America, EuropeACPA and South America

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Contents

Summary

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market Outlook: Predictions for 2020 – 2025

Five forces analysis

  • Summary of the five forces
  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by application

  • Market segments
  • Comparison by application
  • Wireless Health – Market size and forecast 2020-2025
  • Mobile Health – Market size and forecast 2020-2025
  • EHR – Market size and forecast 2020-2025
  • Telehealth – Market size and forecast 2020-2025
  • Market Opportunity by Application

Customer landscape

Geographic landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • Asia – Market size and forecast 2020-2025
  • ROW – Market size and forecast 2020-2025
  • Main leading countries
  • Market Opportunity by Geography
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Insight
  • Supplier Landscape
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • Alphabet Inc.
  • Apple Inc.
  • Cisco Systems Inc.
  • General Electricity Company.
  • International Business Machines Corp.
  • Koninklijke Philips NV
  • McKesson Corp.
  • Qualcomm Inc.
  • Samsung Electronics Co.Ltd.
  • Siemens Healthineers AG

Annex

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With more than 500 industry analysts, Technavio’s reporting library and customer base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing customer base is backed by comprehensive coverage, in-depth research, and Technavio’s actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions in changing market scenarios.

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