Digital Health Market Size By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors

Digital Health Market Size By Technology [Tele-healthcare {Telecare (Activity Monitoring, Remote Medication Management), Telehealth (LTC Monitoring, Video Consultation)}, mHealth {Wearables (BP Monitors, Glucose Meter, Pulse Oximeter, Sleep Apnea Monitors, Neurological Monitors), Apps (Medical, Fitness)}, Health Analytics, Digital Health System (EHR, e-prescribing System)], By Component [Hardware, Software, Services], Industry Analysis Report, Regional Outlook Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

The global digital health market is projected to depict a considerable growth rate over 2022-2030, given the rising emphasis on the adoption of digital tech to improve patient care, especially in Europe and the U.S.

A notable example is the HITECH (Health Information Technology for Economic and Clinical Health) Act passed by the U.S. Congress to provide doctors and hospitals with an estimated USD 20 billion to install EHRs (electronic health records).

Likewise, the increasing importance of digital healthcare has led to a rise in funding for medical technologies. In the Asia Pacific region, health-tech funding reached USD 5.5 billion in 2018, indicating a rise of over four times as compared to funds received in 2015. These factors are likely to boost the popularity of digital therapy and in turn, strengthen the industry outlook over the forthcoming years.

The global digital health market is categorized on the basis of technology, component, and region.

Based on the technology spectrum, the market is segregated into digital health systems, health analytics, mHealth, and telehealthcare. Among these, the healthcare analytics segment is projected to exhibit a considerable growth rate through 2030. This is driven by the increasing generation of complex data due to the rapid transition from paper-based to electronic health records.

Healthcare analytic tools can enhance physician practice by ensuring ease in genomic data collection and analysis for the development of personalized medicines. Likewise, the growing investment interest in analytical digital health solutions is further set to contribute to market size from the health analytics segment.

In terms of the component, the digital health industry is bifurcated into services, hardware, and software. The software segment is anticipated to register substantial revenue over the estimated timeline, given the rising importance of software in digital adoption and medical devices.

With rapid technological innovation, software function and adoption are witnessing significant changes. These solutions allow healthcare professionals to inform and replace clinical decisions and provide aided therapy to patients.

The software-driven medical platforms are also designed to demonstrate the ability to manage, treat, or prevent diseases. The ever-increasing popularity of mobile and app-based solutions is slated to stimulate segmental expansion over the forthcoming years.

From a regional perspective, the Asia Pacific digital health industry is expected to hold a major market share by 2030. This growth is credited to the surging prevalence of coronary heart and other cardiovascular diseases that require efficient monitoring in real-time. The penetration of smart devices has also risen, enabling the region to emerge as a lucrative revenue pocket for the digital health industry.