U.S. Digital Health Market Analysis Report By Technology, Component, COVID-19 Impacts, Service Provider, And Growth Forecasts, 2030

The U.S. digital health market size is expected to reach USD 549.1 billion by 2030, registering a CAGR of 26.9% over the forecast period, according to a new report by Grand View Research, Inc. The improvement in internet coverage facilities and innovation of smartphones is anticipated to drive the digitalization of healthcare organizations. The growing awareness regarding maintaining a healthy lifestyle is also driving the adoption of mHealth apps among consumers. The favorable technology-friendly consumer base looking forward to accessing healthcare and medical assistance through digital health solutions and the improved healthcare IT infrastructure in the U.S are expected to accelerate the market growth over the coming years.

U.S. Digital Health Market Report Highlights

  • The telehealthcare technology segment led the overall market in 2021 due to the high adoption of digital communication technologies, such as mHealth, telehealth, and telecare platforms
  • The services component segment accounted for the maximum revenue share in 2021 due to the increased adoption of digital healthcare platforms coupled with the high demand for installation, maintenance, and training & development services
  • Key market players use various strategies, such as providing free teleconsultation services, to increase their market penetration
  • For instance, service providers, such as CareClix, Callondoc, Galileo Health, Health Tap, K Health, etc. are now offering free live, virtual healthcare visits for patients with COVID-19 symptoms

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 U.S. Digital Health Market Report

The high adoption of digital health platforms by the service providers to actively engage their patients and improve quality of care by easily accessing patient information is supporting the market growth. The COVID-19 pandemic has also exposed the care gaps of the existing treatment process, which, in turn, is driving the adoption of virtual and digital healthcare solutions. The telehealthcare technology segment dominated the market in 2021 owing to the growing adoption of digital communication technologies, such as mHealth, telehealth, and telecare platforms. The increasing preference for remote patient monitoring services due to the emergence of the COVID-19 pandemic also accelerated the market growth in the U.S.

U.S. Digital Health Market Size By Technology
U.S. Digital Health Market size, by technology

In addition, the shortage of medical professionals and increasing preference for remote patient engagement by the healthcare providers using telehealth platforms will support the segment growth. Moreover, the preference of the hospitals to connect with patients using telehealth platforms and improve provider-patient interactions to offer quality healthcare services accelerates the segment growth. The services component segment dominated the market in 2021owing to the high adoption of digital healthcare platforms coupled with the demand for installation, maintenance, and training & development services. However, the software segment is anticipated to record the fastest CAGR over the forecast period.

This is attributed to the rapid adoption of healthcare software solutions to streamline workflows, reduce healthcare expenses & costs, and eliminate data siloes. The growing burden of the COVID-19 pandemic and the government-imposed shutdown and lockdowns created multiple challenges for the normal functioning of healthcare systems in the country. The decline in face-to-face health consultation due to the fear of virus transmission, in turn, increased the demand for virtual consultations. In addition, the improved healthcare IT platforms in the country also supported better patient-provider engagement and remote patient monitoring services. The high internet penetration further boosted the adoption of telehealth platforms and mHealth applications, which drove the market growth during the COVID-19 pandemic.

COVID-19 Impacts On U.S. Digital Health Market

Increasing industry consolidation activities by the key players, such as acquisition, collaboration, and merger, also supported the market growth during the COVID-19 period. The growing adoption of virtual healthcare platforms and increasing promotion by the government to improvise remote patient healthcare services are also expected to propel the market growth over the coming years. The increasing elderly population, growing chronic disorders, and rise in investments & government initiatives for the digitalization of healthcare institutions are anticipated to accelerate the market growth post-pandemic.

Industry Share Analysis By Major Players

The key market players are focusing on mergers, acquisitions, technological collaborations, and product development to serve the unmet demand for digital healthcare platforms. The existing top players are focusing on expanding their product offerings through strategic collaborations, partnerships, and new product developments. Some of the key players in the U.S. digital health market are:

  • Apple, Inc.
  • AT&T
  • Airstrip Technologies
  • Allscripts
  • Google, Inc.
  • Orange
  • Qualcomm Technologies, Inc.

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U.S. Digital Health Market Segmentation

Grand View Research, Inc. has segmented the U.S. digital health market based on technology and component:

  • S. Digital Health Technology Outlook (Revenue, USD Million, 2016 – 2030)
  • S. Digital Health Component Mode Outlook (Revenue, USD Million, 2016 – 2030)
  • List of Key Players of U.S. Digital Health Market

 

Research Methodology

We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.

For Customized reports or Special Pricing please visit @: https://www.grandviewresearch.com/special-pricing/452326/rfsp2

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

 

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