The global mHealth market size was estimated at USD 62.7 billion in 2023
Digital Health Industry | Forecast 2030
The digital health industry data book, compiled by Grand View Research, is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports and summary presentations on individual areas of research along with a digital healthcare statistics e-book.
mHealth Market Insights
The global mHealth market size was estimated at USD 62.7 billion in 2023 and is projected to grow at a CAGR of 14.1% from 2024 to 2030. The demand for mHealth apps is increasing with the growing use of digital health services for remote patient monitoring. People are becoming more aware of the benefits of mHealth solutions, and governments are also promoting remote digital healthcare, which is expected to boost the market further. The widespread use of smartphones among teenagers and adults is also anticipated to drive the growth of mHealth platforms and technologies. For instance, as per The Mobile Economy 2023, smartphone penetration was 76% in 2022 and is expected to reach 92% by 2030.
Access the Global Digital Health Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
The rising demand for patient-centric care drives the adoption of mHealth apps and services globally. The healthcare industry is shifting its focus from provider-centric care to patient-centric care. mHealth solutions empower patients to actively participate in managing their health by providing them with access to their medical records, medication reminders, wellness programs, and remote consultations. The demand for personalized, convenient, and accessible healthcare services drives the adoption of mHealth solutions globally. The growing utilization of mobile health (mHealth) applications for diverse purposes is significantly fueling the expansion of the mHealth market.
Healthcare Analytics Market Insights
The global healthcare analytics market size was valued at USD 43.1 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 21.1% from 2024 to 2030. The healthcare industry faces challenging issues such as the lack of better patient care, skyrocketing costs of treatment, and less patient retention & engagement. As a result, healthcare analytics are being incorporated into every aspect of the industry to give better care to patients and for better industry operations. These factors are key reasons for the growth of the healthcare analytics industry.
COVID-19 saw significant growth in the industry due to an increase in the need for digital solutions and better analytics tools to manage patient load in the healthcare industry. The amount of clinical data generated during the pandemic needed proper management. With the help of analytics tools and platforms, researchers and professionals derive better outcomes, predict trends, and understand the dynamics of disease outbreaks much better. An increasing burden on health establishments and professionals has created a need to adopt healthcare analytics platforms for better management and delivery of better care to patients.
In June 2020, NIH launched a healthcare data analytics platform to collect patient data for actionable insights on COVID-19. However, the post-pandemic effect shows healthcare analytics as a part of a larger solution that has much wider implications for understanding clinical data for healthcare professionals. In May 2021, the WHO and a German federal agency established a hub for pandemic data for analyzing the spread of disease, innovation in the field of medicine, and surveillance of patients to mitigate further risks in the future.
Order your copy of the Free Sample of “Digital Health Industry Data Book – Tele-Healthcare, mHealth, Healthcare Analytics and Digital Health System Market Size, Share, Trends Analysis, And Segment Forecasts, 2022 – 2030” Data Book, published by Grand View Research
Digital Health Systems Market Insights
The global digital health systems market size was valued at USD 31.4 billion in 2022 is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2023 to 2030. Growing penetration rate of smartphones, improvement in internet connectivity, introducing advance healthcare IT infrastructure, rising healthcare expenditure, diseases, rising adoption rate of remote patient monitoring services, and increasing accessibility of virtual care are driving market growth. Growing prevalence of chronic diseases such CVD, diabetes, cancer and others are further driving the market growth as digital health systems help in monitoring condition from any place and at any time.
Smartphones have widened their application scope from devices just for communication & entertainment to devices monitoring health & fitness. As per the statistics of Pew Research Center about 97.0% of U.S. citizens own smartphones in the year 2021. Moreover, key players are also focusing on developing and introducing innovative mobile applications for tracking daily activities, providing information about medical queries, tracking & ordering medical prescriptions, scheduling appointments, and storing healthcare information. The ongoing COVID-19 pandemic exposed the flaws in the current overburdened healthcare systems and highlighted the potential of digital health solutions, which in turn encouraged the use of these solutions and resulted in a sharp increase in their rate of adoption.
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