U.S. Digital Health Market Size, Share & Trends Analysis Report By Technology (mHealth, Healthcare Analytics, Tele-healthcare), By Component (Software, Services, Hardware), And Segment Forecasts, 2021 - 2028

U.S. Digital Health Market Growth & Trends

The U.S. digital health market size is expected to reach USD 86.4 billion by 2028 and is expected to expand at a CAGR of 12.7% over the forecast period, according to a new report by Grand View Research, Inc. The development and innovation of smartphones with advancing internet coverage facilities are driving the digitalization of the healthcare industry. The growing awareness and demand for pursuing a healthy lifestyle, is driving consumers to rapidly adopt mHealth applications and services. Advancements in healthcare IT infrastructure and the increasing number of technology-friendly consumers are allowing individuals to seamlessly access healthcare and medical assistance through digital health solutions.

Healthcare providers are readily adopting mHealth applications, telehealth applications, and Electronic Health Record (HER) systems to actively engage with their patients and easily access patient information to improve the quality of care. The COVID-19 pandemic exposed the shortcomings and care gaps of the existing healthcare systems and also drove the adoption of virtual care &digital health solutions. The pandemic burdened the delivery system of healthcare systems and constrained the existing healthcare resources, creating multiple challenges for the normal functioning of the U.S. healthcare system. The pandemic enforced travel restrictions, lockdowns, reduced in-person visits,which drove the adoption of virtual care and digital health solutions.

The U.S. healthcare system developed innovative digital health services, remote patient monitoring platforms, mHealth applications, and telehealth platforms to enhance patient-provider engagement and deliver care to patients in remote locations. Key market players witnessed a surge in adoption rates and revenue earnings. For instance, American Well recorded a 1,000% rise in inpatient visits in virtual cares settings. In addition, healthcare payers began collaborating with digital health players to deliver free teleconsultation services to their insured members. The rise in public-private partnerships, developments in digital infrastructure, increasing healthcare IT expenditure, and growing government support are bolstering the adoption of digital health and virtual care solutions.

U.S. Digital Health Market Report Highlights

• The mHealth technology segment dominated the market in 2020, in terms of revenue share
• The growth was credited to the factors, such as the improving internet connectivity & increasing smartphone penetration, availability of a large number of mHealth apps, and the emergence of startups
• The healthcare analytics segment is anticipated to record the fastest CAGR over the forecast years
• This growth is owing to the growing demand for streamlining workflows and improving operational efficiencies
• The services segment dominated the market in 2020 due to the rapid advancements in the hardware and software solutions segment
• The growing need for services, such as installation, training & development, and maintenance, is driving the growth of the segment
• The software segment is expected to record the fastest growth rate over the forecast period owing to the rapid adoption of software solutions to streamline workflows, eliminate data siloes, and reduce growing healthcare expenses & costs

Profiled Companies

Apple Inc
AT&T
Airstrip Technologies
Allscripts
Google Inc
Orange
Qualcomm Technologies Inc.
Softserve
MQure
Telefonica S.A
Samsung Electronics Co. Ltd.
Vodafone Group
Cerner Corporation
McKesson Corporation
Epic Systems Corporation
NextGen Healthcare Inc.
ReWalk Robotics Ltd.
Greenway Health LLC
CureMD Healthcare
HIMS
Computer Programs and Systems Inc.
Vocera Communications
IBM Corporation
Siemens Healthcare GmbH
Cisco Systems, Inc

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