Digital health market to surge 16.3% to $150bln in 2022

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The global digital health market is expected to earn $149.9 billion in 2022 as against $128.80 billion earned in 2021, reflecting a 16.3% growth, said leading financial educational hub StockApps.com, citing a Statista report.

Digital fitness and wellbeing should account for $88.67 billion – which makes up 59.1% of the total revenue, while the eHealth segment should bring in $61.18 billion in 2022 – 40.8% of the market.

The digital fitness and 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.

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 $224.19 billion in revenue in 2026. In 2026, the digital fitness & wellbeing segment is expected to earn $135.30 billion – 60.3% of the entire market.

In comparison, the eHealth industry would make $88.89 billion – which accounts for 39.6% of the market. Thus, the digital fitness & wellbeing segment share is expected to grow in the coming years, though not significantly.

China biggest market with $44.68 billion 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 $44.68 billion, which makes up 29.8% of the global market. The US is a distant second with $29.8 billion in revenue.

India should be the third biggest market in 2022 with $9.2 billion in annual revenue, followed by Japan ($5.2 billion) and Germany ($4.4 billion).