U.S. Digital Health Industry Trend, Research, Insights And Forecast To 2030

Posted on 2022-12-30 by researchinsights in Industrial // 0 Comments

U.S. Digital Health Industry Overview

The U.S. digital health market size was valued at USD 66.5 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 26.9% from 2022 to 2030.

The supportive environment for digital healthcare services and improved internet connectivity to deliver remote healthcare services using digital routes are anticipated to drive the market growth over the forecast years. In addition, growing smartphone adoption in the U.S. has also driven manufacturers to invest and capitalize on their growth opportunities in the digital health industry. For instance, in recent years, several applications have been launched, such as Doctors on Demand, Amwell, Garmin Connect, AssistRx, GoogleFit, etc. in the U.S.

Gather more insights about the market drivers, restrains and growth of the U.S. Digital Health Market

For instance, the U.S. Department of Health and Human Services’ Office of the National Coordinator for Health Information Technology, in 2021, invested USD 73 million to collect COVID-19 data and strengthen the public health IT workforce in the underrepresented communities. In addition, a significant demand has been observed for telemedicine and telehealth over the past couple of years by the healthcare fraternity. The service providers and developers of the market are constantly working to develop web-hosted and cloud-based platforms to seamlessly deliver virtual care services to enhance patient care in remote locations. The demand for video consultations is increasing as they minimize the need for face-to-face visits and commuting to the healthcare facility.

These smartphone applications are providing benefits to the patients to store their healthcare information, track their fitness & health records, and can connect to a doctor anytime throughout the treatment process. Furthermore, the increased awareness regarding the benefits of adopting remote digital services and health & fitness apps, specifically during the COVID-19 pandemic, supported the market growth. For instance, as per the Sensor Tower report, health and fitness apps installations have been increased by 22% from 332 million in 2019 to 405 million in 2020 in the U.S. Several government initiatives to improve digital health platforms and encourage app developers and healthcare providers for the development of better remote healthcare solutions will also drive the market.

This, in turn, reduces the costs of availing healthcare. Furthermore, the continuous lockdowns and travel bans due to the COVID-19 pandemic also contributed to the high adoption of telehealth services. For instance, the CivicScience survey reported that the telemedicine adoption rate has continuously increased from 11% in February 2020 to 28% in April 2020 and 32% and 35% in June 2020 and July 2020 respectively in the U.S due to the COVID-19 pandemic. Moreover, the digital technology giants present in the U.S., such as Google, IBM, and Apple, are continuously focusing on the development of solutions to improve the virtual healthcare experience with enhanced data security features, which is also supporting the market growth.

The growing number of mobile subscriptions and rising smartphone penetration are expected to bolster the market growth over the coming years. According to an eMarketer report, the smartphone penetration has increased to 88% in 2021 from 76% in 2016. The increasing smartphone adoption is also driving the mHealth applications and service usage in the country. In addition, a rise in the development of mHealth apps and their easy availability are also supporting the market growth. According to eMarketer, about 87.4 million consumers use health and fitness apps in the country. The availability of low-cost or free mobile health applications also drives the adoption of digital healthcare.

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