Digital Health

In 2024, the projected revenue in the Digital Health market is estimated to reach US$38.20bn.
It is anticipated that this revenue will experience an annual growth rate (CAGR 2024-2029) of 7.24%.
Consequently, the market volume is projected to reach US$54.17bn by 2029.
The average revenue per user (ARPU) is expected to be US$84.51.
When compared globally, United States is expected to generate the highest revenue in the Digital Health market, amounting to US$38.20bn in 2024.
Moreover, the Digital Treatment & Care market will be the largest market, with a total revenue value of US$26.50bn in 2024.
It is worth noting that these figures are specific to United States.
China is leading the way in digital health innovation, with a strong focus on telemedicine and AI-powered healthcare solutions.

Definition:

The Digital Health market refers to the use of technology to improve health and healthcare delivery. It includes the Digital Fitness & Well-Being, Online Doctor Consultations, and Digital Treatment & Care markets.

Structure:

The Digital Health market is divided into three markets:

Digital Fitness & Well-Being: This market includes fitness trackers, health and wellness coaching, and tools that help individuals monitor and improve their health and well-being.
Online Doctor Consultations: This market includes telemedicine and other digital tools that allow patients to consult with doctors remotely.
Digital Treatment & Care: This market includes digital tools that are used to diagnose, treat, and manage medical conditions. It includes the Connected Biosensors and Digital Care Management markets.

Additional Information:

The growth of the Digital Health market is driven by factors such as increasing smartphone penetration, improved internet connectivity, and the growing need to curb healthcare costs. The market is also supported by government initiatives to spread digitalization across the healthcare sector. Key players in the market are introducing advanced applications to enhance the user experience and integrate with other digital platforms. The COVID-19 pandemic has accelerated the adoption of digital health solutions, particularly in the Online Doctor Consultations market.

Digital fitness and well-being
Fitness trackers
Connected Biosensors
Digital care management
Online pharmacies
Online doctor consultations
Health and wellness coaching
Digital treatment and care

Smart clothing
Smart shoes
Smart eyewear

The Digital Health market in China is rapidly evolving, driven by various factors that are reshaping the healthcare landscape in the country.

Customer preferences: Chinese consumers are increasingly seeking convenient and efficient healthcare solutions, leading to a growing demand for digital health services. The younger population, in particular, is more tech-savvy and inclined towards utilizing online platforms for fitness, well-being, and medical consultations.

Trends in the market: In China, the Digital Health market is witnessing a surge in digital fitness and well-being platforms, with a plethora of mobile apps offering personalized workout plans, nutrition tracking, and mental health support. Online doctor consultation services are also gaining popularity, providing users with quick access to healthcare professionals without the need for physical visits. Moreover, digital treatment and care solutions such as telemedicine and remote monitoring devices are becoming integral parts of the healthcare ecosystem in China.

Local special circumstances: One of the key drivers of the Digital Health market in China is the government's push towards digitalization and innovation in healthcare. Initiatives like "Internet Plus Healthcare" aim to integrate internet technologies with medical services, promoting the development of digital health solutions across the country. Additionally, the vast population and geographical challenges in China make digital health services a convenient and cost-effective alternative to traditional healthcare delivery methods.

Underlying macroeconomic factors: The rapid digital transformation taking place in China, coupled with the increasing adoption of smartphones and internet connectivity, is creating a conducive environment for the growth of the Digital Health market. Rising healthcare costs, coupled with an aging population and the need for more efficient healthcare delivery systems, are also driving the demand for innovative digital health solutions in the country. Furthermore, the COVID-19 pandemic has accelerated the acceptance of telehealth services and remote monitoring tools, further fueling the expansion of the Digital Health market in China.

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

Over 1.3 billion people will use digital health in 2024. This includes using fitness trackers and smartwatches, online doctor consultations, or any other digital treatment and care use. The utilization of digital health, particularly telemedicine, increased significantly during the COVID-19 pandemic as alternatives to physical appointments were required. Wearables such as smartwatches have been popular for some years, and still undergo steady growth. The digital health market was worth around 172 billion U.S. dollars in 2024, with a forecast for future growth.