Digital Health Market to Surpass USD 783.8 Billion Revenue by 2030, Says P&S Intelligence

NEW YORK, Jan. 11, 2023 /PRNewswire/ -- The global digital health market has garnered USD 183.5 billion revenue in 2022, and it is projected to rise at a rate of 19.90%, to USD 783.8 billion by 2030, according to market research company P&S Intelligence.

This is ascribed to the escalating need for remote patient monitoring services, growing usage of smartphones and tablets, surging demand for enhanced healthcare information systems, development of innovative mobile health applications, and the government guidelines regarding such solutions.

Furthermore, the advancements in internet connectivity with the launch of 5G, development in the healthcare IT infrastructure, rise in the frequency of chronic illnesses, and growth in the need to reduce healthcare charges are major factors boosting the market revenue.

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Telemedicine Category Holds Considerable Market Share 

In 2022, the telemedicine category held a considerable share. The demand for telehealth services is driven by the rising requirement for protected healthcare information storage and dependable health & fitness monitoring. The demand for such services is also being supported by the upgradation of the hardware and software utilized for them.

Individuals category Will Grow at Highest Rate

The individuals category is expected to grow the fastest in the coming years. This can be credited to the increasing acceptance of healthcare IT solutions by people across the globe. With such solutions, the storage modification, tracking, and transfer of accurate information to the concerned person become possible.

Healthcare Industry Leaning More toward Cloud-Based Solutions

The growing acceptance of cloud computing solutions in the healthcare industry is the key trend currently in the sector. Due to the rapid enhancement in processing and storage technologies, computing technologies are becoming cost-efficient, powerful, and easily available than before.

This is significantly boosting the development of cloud computing, in which the resources, including pharmacy orders and physician inquiries and non-clinical applications, such as revenue cycle management and individual billing, are offered to users on demand, through the internet.

Browse detailed report on Digital Health Market Size, Share, Growth and Demand Forecast to 2030

North America Is Largest Revenue Generator

In 2022, North America had the largest revenue share, of approximately 39%, in the market. This dominance can be ascribed to the growing public knowledge regarding digital health technologies through numerous workshops and conferences, snowballing geriatric populace, and government measures for the betterment of healthcare delivery systems in the North American region.

Rising Demand for Remote Patient Monitoring Services

A key driver of the demand for digital health solutions is the rising importance of remote patient monitoring. Elderly and severely ill patients are often unable to adhere to their doctor visitation schedule. This has created a high need for IoT-connected devices that can monitor their vital health parameters at their home and transfer the data to the doctor in the real time.

Global Digital Health Market Report Coverage

By Technology

• Mobile Health (mHealth)
• Connected devices
• mHealth apps
• Services
• Electronic Health Record (EHR)
• Cloud-based
• On-premises
• Telemedicine
• Teleconsulting
• Telemonitoring
• Tele-education
• Tele-training
• Healthcare Analytics
• Descriptive
• Predictive
• Prescriptive

By End-User

• Hospitals
• Clinics
• Individuals

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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Global Ambulatory EHR Market Size, Share, Growth, and Demand Forecast to 2030

Global Electronic Health Record Market Size, Share, Development, and Future Analysis

About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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