Digital Health

The Digital Health market worldwide is expected to reach a projected revenue of US$171.90bn by 2024.
It is also anticipated to exhibit an annual growth rate (CAGR 2024-2029) of 8.49%, resulting in a projected market volume of US$258.30bn by 2029.
The average revenue per user (ARPU) is estimated to be US$85.56.
When compared globally, United States is projected to generate the highest revenue in the Digital Health market, with US$47.12bn in 2024.
The Digital Treatment & Care market holds the largest market share, with a total revenue value of US$103.80bn in 2024.
The Digital Health market, which encompasses various aspects of healthcare and technology, is experiencing significant growth and presents numerous opportunities for businesses worldwide.
Worldwide, the digital health market is experiencing a surge in telemedicine adoption due to the convenience and accessibility it offers for remote patient consultations.

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 has been experiencing significant growth worldwide, driven by various factors such as increasing adoption of digital technologies, rising health awareness among consumers, and the convenience offered by online health services.

Customer preferences: Consumers are increasingly seeking digital fitness and well-being solutions to monitor and improve their health, leading to a surge in demand for wearable devices and health tracking apps. Online doctor consultations have also become popular among individuals looking for convenient and timely medical advice. Moreover, the shift towards digital treatment and care options is driven by the need for remote monitoring and management of chronic conditions.

Trends in the market: In the United States, the Digital Health market is witnessing a rise in telemedicine services, with more healthcare providers offering virtual consultations to reach a larger patient base. In China, there is a growing trend of using health and fitness apps to track daily activities and monitor health metrics. In Europe, digital treatment platforms are gaining traction, allowing patients to access personalized treatment plans and medication management services online.

Local special circumstances: In India, the Digital Health market is booming due to the increasing smartphone penetration and the government's push for digital healthcare initiatives. The country has seen a rise in telehealth platforms catering to the rural population with limited access to healthcare facilities. In Brazil, the market is driven by the growing middle class seeking convenient and affordable healthcare options, leading to the popularity of online doctor consultations and digital fitness solutions.

Underlying macroeconomic factors: The growth of the Digital Health market is also influenced by macroeconomic factors such as technological advancements, regulatory support, and investment in healthcare infrastructure. Countries with favorable regulatory environments and strong investment in digital health technologies are experiencing faster market growth compared to regions with regulatory challenges and limited healthcare funding. Additionally, the increasing prevalence of chronic diseases and the aging population worldwide are driving the demand for digital health solutions to improve healthcare access and outcomes.

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.