The Digital Health industry is developing at an impressive pace, and the pandemic has only helped its progress. According to the numbers presented by StockApps.com, the global digital health market is expected to earn $149.9bn in 2022. Compared to 2021, the market is expected to witness a 16.3% growth.
16.3% annual growth witnessed in 2022
According to the data available on Statista, the global digital health market is expected to make $149.9bn in revenue in 2022. The projected revenue for 2022 would represent a 16.3% increase from $128.80bn earned in 2021.
When we look at different segments in 2022, Digital Fitness & WellBeing should account for $88.67bn – which makes up 59.1% of the total revenue. The eHealth segment should bring in $61.18bn in 2022 – 40.8% of the market.
The Digital Fitness & WellBeing industry comprises various kinds of fitness apps, wearables and at-home digital exercising equipment like Peloton. This segment has received a massive boost due to the pandemic in the last couple of years. As gyms and fitness centres stayed closed during the pandemic, a considerable proportion of people shifted towards digital health solutions. Meanwhile, the eHealth segment majorly consists of digital health solutions such as apps for consultations with doctors.
When we look into the future, the digital health market is expected to show an annual growth rate (CAGR) of 10.59% until 2026. At this rate, digital health is projected to make $224.19bn in revenue in 2026. In 2026, the Digital Fitness & WellBeing segment is expected to earn $135.30bn – 60.3% of the entire market. In comparison, the eHealth industry would make $88.89bn – which accounts for 39.6% of the market. Thus, the Digital Fitness & WellBeing segment share is expected to grow in the coming years. But not significantly.
China is the biggest market with $44.68bn in revenue
According to the data, China is the most significant national market in the Digital Health industry. The Asian country is expected to bring in the biggest chunk of the revenue in 2022 at $44.68bn, which makes up 29.8% of the global market. The United States of America is a distant second with $29.8bn in revenue.
India should be the third biggest market in 2022 with $9.2bn in annual revenue, followed by Japan ($5.2bn) and Germany ($4.4bn).