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Digital Health Market Size

Report ID: GMI833
Published Date: Mar 2023
Report Format: PDF

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Digital Health Market Size

Digital Health Market size was worth more than USD 233.5 billion in 2022 and is anticipated to depict a 15% CAGR between 2023 and 2032 driven by the growing adoption of smartphones, tablets, and other mobile platforms.

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Rising smartphone usage among physicians across the U.S. and APAC region has resulted in the high acceptance of digital health. Smartphones and other smart devices are used by one-third of all adults in the United States, with physicians using them twice as often as the general public. This is the major factor contributing to the massive increase in the number of mobile applications for healthcare requirements, thereby promoting the market progress.

Digital Health Market Report Attributes
Report Attribute	Details
Base Year:	2022
Digital Health Market Size in 2022:	USD 233.5 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	15%
2032 Value Projection:	USD 981.5 Billion
Historical Data for:	2018 to 2022
No. of Pages:	275
Tables, Charts & Figures:	488
Segments covered:	Technology, Component, and Region
Growth Drivers:	Increasing use of smartphones, tablets, and other mobile platforms Rapidly moving healthcare IT infrastructure in industrialized nations Favorable government initiatives in U.S. and European region Rising demand for remote patient monitoring services Growing venture capital investments
Pitfalls & Challenges:	Security concerns regarding patient data High capital expenditure and maintenance requirement

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market size for digital health surpassed USD 233.5 billion in 2022 and is set to grow at 15% CAGR through 2032 attributed to the rising adoption of smartphones, tablets, and other mobile platforms.

Software segment is projected to be worth USD 327 billion by 2032. Digital health software is regarded as a cost-effective and technically efficient method to accelerate the pace of digital innovation, assisting providers in increasing revenue, boosting efficiency, enhancing care quality, and improving patient and staff experiences.

North America digital health market accounted for over 44.5% of overall industry revenue in 2022 and is foreseen to witness substantial growth resulting from the rising prevalence of chronic illness prevalence and escalating healthcare spending.

Allscripts Healthcare Solutions Inc, AdvancedMD Inc., AT & T, Oracle (Cerner Corporation), Athenahealth, Inc., Cisco Systems, eClinicalWorks, McKesson Corporation, iHealth Lab, Inc., and Koninklijke Philips N.V. are among the major companies operating in the digital health industry.