Dublin, June 09, 2023 (GLOBE NEWSWIRE) -- The "Global Digital Health Market and Trends 2023" report has been added to ResearchAndMarkets.com's offering.
The digital health market is forecasted to maintain positive growth between 2022 and 2025, reaching a value close to EUR 900 billion by 2032
Companies Mentioned
- Calm
- IBM
- My fitness pal
- National Health Service (NHS)
- Omada
- Planet fitness
- Proteus Digital
- Sweatcoin
- Well Doc
- KIM messages
- Yuka
Despite the forecasted surge in the digital health market, total digital health funding saw a slump in 2022
The global adoption of digital healthcare solutions is transforming the conventional healthcare market. Patients and medical professionals are embracing telemedicine, health apps, wearables, and disease management tools.
The digital health market is projected to grow at a double-digit CAGR between 2022 and 2032, reaching close to EUR 900 billion by 2032, according to a report by the analyst. Investments in digital health companies have been flowing in due to their growth potential. Significant investment is directed towards companies focusing on social determinants of healthcare and expanding affordable healthcare services.
However, total digital health funding witnessed a decline of nearly -50% between 2021 and 2022 due to macroeconomic challenges, including inflation, interest rate hikes, and supply chain issues. Investor risk aversion also contributed to the decline, with a focus on avoiding late-stage deals and high-valuation startups. Despite the funding decline, the changing digital health market continues to attract investors.
It is anticipated that in 2023, investments in digital healthcare will be directed toward alternative healthcare models, such as out-of-hospital care.
Additionally, the home-based caregiving market, providing long-term care to patients after chronic illness or injury, emerged as a trend in 2022 and is expected to see increased investment in 2023. Although digital health funding decreased, the USA generated the highest digital health funding in Q4 2022 compared to other regions, reaching nearly EUR 2,000 million, as reported by yStats.com. Health IT and telehealth were the top two segments that dominated total digital health funding globally during that period.
The digital health market is witnessing a boom in growth against the backdrop of emerging trends such as connected health, telehealth, and AI in healthcare
The global digital health industry is rapidly advancing due to technological innovations and emerging trends. AI, telehealth, and telemedicine are transforming the traditional healthcare market. AI enables early detection of conditions, reduces healthcare costs, and improves treatment efficiency and accuracy.
Healthcare leaders worldwide are investing heavily in AI, with over half planning to prioritize it. In the USA, one-third of physicians aim to adopt AI within a year for practice efficiency and clinical applications. Telehealth is also gaining popularity, with many Americans accessing healthcare through telemedicine.
Prescription refills, minor illnesses, and mental health conditions are the top segments for telemedicine use. Europe expects telehealth to enhance diagnosis in the next 3-5 years. Telephone-based telehealth is preferred in countries like Canada, Spain, and the USA.
Questions Covered in the Report:
- What is the projected value of the digital health market by 2032?
- Which countries ranked highest in the adoption of predictive analytics in clinical settings worldwide as of March 2022?
- Which digital health segment received the highest funding as of Q4 2022?
- What were the most popular methods of accessing telemedicine among adults in the USA in 2022?
- According to clinicians in Europe, what are the top technologies in digital healthcare expected to enhance the efficiency of diagnosis in the next 3-5 years as of 2022?
Key Topics Covered:
1. Key Takeaways
2. Management Summary
3. Global
- Overview and Trends in Digital Health, May 2023 (1 of 5)
- Overview and Trends in Digital Health, May 2023 (2 of 5)
- Overview and Trends in Digital Health, May 2023 (3 of 5)
- Overview and Trends in Digital Health, May 2023 (4 of 5)
- Overview and Trends in Digital Health, May 2023 (5 of 5)
- Digital Health Market Size, in USD billion, 2022 & 2032f
- Leading Digital Technology Investments Made in Digital Healthcare, in % of Healthcare Leaders, March 2022
- Healthcare Services That Healthcare Leaders Are Offering vs Those They Are Willing to Offer in 3 Years, in % of Healthcare Leaders, February 2023 (1 of 2)
- Healthcare Services That Healthcare Leaders Are Offering vs Those They Are Willing to Offer in 3 Years, in % of Healthcare Leaders, February 2023 (2 of 2)
- Total Digital Health Funding, in USD billion, & Factors Leading to the Decline of Digital Health Funding, 2020-2022
- Total Digital Health Funding, by Region, in USD million & Number of Deals, in Absolute Number, Q4 2022
- Total Digital Health Funding, by Segments, in USD billion & Number of Deals, in Absolute Number, Q4 2022
- Breakdown of Deals Among Investors, in % of Investors, Q4 2022
- Share of Healthcare Leaders Who Believe Virtual Care Had or Will Have the Biggest Impact on Improving Care, in %, February 2023
- Share of Trust in Predictive Analytics Across Clinical Settings, by Region, in % of Healthcare Leaders, March 2022
- Adoption of Predictive Analytics in Clinical Setting, by Country, in % of Healthcare Leaders, March 2022
- Share of Adults Who Used Health Apps, in %, February 2022
- Level of Positive Impact That Healthcare Executives Believe AI Will Have on Their Organization in the Future, in % of Healthcare Executives, 2022e
- Share of Healthcare Executives for Whom IT/Security Breaches Are Primary Concerns About Disinformation Attacks, in %, 2022e
- Share of Healthcare Leaders Who Want to Partner Outside Their Healthcare System & Types of Organizations They Want to Partner With, in %, February 2023
- Share of Patients Who Enrolled or Are Likely to Enroll in Receiving Electronic Bills from Their Healthcare Providers, in %, 2022
4. North America
5. Europe
6. Asia-Pacific
7. Latin America
8. Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/227j01
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