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Market Overview

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The global digital health and wellness market had a value of USD 335.0 billion in 2022 and is projected to reach USD 1.103 trillion by 2028, growing at a compound annual growth rate (CAGR) of 21.97%. Digital health refers to maintaining physical, social, and emotional well-being in a technology-driven world. The market’s growth is fueled by the increasing adoption of digital technology worldwide. Digital wellness plays a crucial role in achieving a balance and making healthy choices in using devices, encompassing technologies that promote well-being.

The North American digital health and wellness market is driven by factors such as the growing adoption of smartphones, advancements in coverage networks, and the rising prevalence of health conditions affecting physical and mental well-being. Additionally, increased research and development (R&D) funding for developing safer products with unique features will contribute to the growth of the digital health and wellness market in the United States. Managing physical and mental diseases or disorders like schizophrenia, alcohol use disorder, bipolar disorder, depression, anxiety, and others are key drivers for health and well-being programs in the US.

The utilization of advanced technological platforms in hospitals is accelerating the adoption of healthcare robotics, making healthcare robots more sophisticated, efficient, precise, and affordable. With the advent of digital health and wellness, personalized education and solutions tailored to individual well-being have emerged through the use of artificial intelligence (AI).

Wearable monitoring devices are playing a significant role in medicine, healthcare, and fitness applications, bringing forth new possibilities. These devices are part of a broader category of wireless networks called Wireless Body Area Networks (WBANs).

Telehealth has always been a crucial aspect of technology-enabled care delivery, enabling hospitals, health systems, and group practices to provide quality care remotely, resulting in improved efficiency, patient satisfaction, and cost savings. The COVID-19 pandemic has further highlighted the importance of telehealth, as it challenged the capacity of the healthcare system and created a greater demand for remote care and monitoring. Federal policies removing regulatory and reimbursement barriers have led to increased adoption of telehealth, with healthcare providers using new technologies to deliver care while adhering to social-distancing measures.

Companies like InTouch Health, iRobot, and Vecna Technologies have developed robots that serve as substitutes for physicians in remote clinics, community health centers, schools, sporting events, and smaller hospitals. For example, iRobot’s Remote Presence Virtual Independent Telemedicine Assistant (RP-VITA) is an autonomous robot designed for remote navigation and telemedicine purposes.

Data-driven decision-making has become crucial, and the focus on physical and mental wellness has evolved. As the industry shifts from solely measuring healthcare costs to promoting healthy lifestyles, data analytics and technology play a vital role. Many investments have been made in technology to measure initiatives using big data, which can provide valuable insights into patterns that are otherwise hard to detect. This data enables preventative care, early diagnosis, personalized approaches, and consumer-centric healthcare, leading to better clinical outcomes. Various sources, such as customer data from pharmacies, patient history, hospitals, cellphones, and internet searches, contribute to a vast pool of data that can be utilized to drive the growth of the digital health and wellness market.

In recent years, there have been significant changes in population demographics and psychographics. The increased adoption of smartphones and tablets in developing countries has resulted in greater engagement in health and wellness programs. Android and iOS platforms are witnessing increased adoption, particularly in Africa. Additionally, the large population in countries like China and India presents significant growth opportunities for the digital health and wellness market. Continuous innovation and development have led to the introduction of more affordable smartphone options, further driving adoption for health and wellness programs. Moreover, rising disposable incomes enable the population to choose smartphones over traditional mobile devices, resulting in an increase in the number of health and wellness program operators, thus driving the market.

Security and privacy risks pose major challenges for the digital health and wellness market. The nature of the data collected and how it is used by providers makes it vulnerable to cybersecurity attacks and data breaches. Telehealth platforms, including wearable and connected medical devices, smartphones, tablets, and remote patient monitoring systems, are susceptible to potential hacks and security breaches, which can compromise the safety and effectiveness of telehealth services.

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Market Segmentation

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The market is segmented based on various factors, including digital health & wellness, type, software & services, wearables, age group, care providers, and geography.

Segmentation by Digital Health & Wellness
Digital Health
Digital Wellness

Segmentation by Type
Software & Services
Wearables

Segmentation by Software & Services
eHealth
mHealth

Segmentation by Wearables
Ear-worn
Smartwatches
Smart Patches
Head-mounted Display
Wristbands
Smart Clothing

Segmentation by Age-Group
Pediatric
Adults
Geriatric

Segmentation by Care Providers
Hospitals
Home Care Settings & Individuals
Clinics & Ambulatory Surgical Centers (ASC)
Others

Segmentation by Geography
North America – US, Canada
Europe – Germany, France, UK, Italy, Spain
APAC – China, Japan, India, South Korea, Australia
Latin America – Brazil, Mexico, Argentina
Middle East & Africa – South Africa, Saudi Arabia, Turkey

The digital health segment is anticipated to become the largest global market for digital health and wellness. Digital health, also known as digital healthcare, is a comprehensive and interdisciplinary model that combines technology and healthcare concepts. It encompasses digital care programs and technologies that aim to enhance healthcare delivery efficiency, personalize medicine, and improve precision. Additionally, digital health leverages digital transformation in healthcare by integrating software, hardware, and services. In 2022, the digital health segment accounted for a 56.50% market share, and it is expected to witness a significant absolute growth of 248.22% by 2028. Digital technologies provide significant opportunities for disease prevention through lifestyle changes and promoting healthy behaviors.

The global digital health and wellness market is classified into two segments: software & services and wearables. The software & services segment held a 61.24% market share in 2022 and is projected to experience an absolute growth of 241.55% by 2028. The software industry offers various services to the healthcare sector. The emergence of medical software reduces paperwork and allows healthcare providers to allocate more time to primary healthcare and patient care. Electronic Medical Records (EMR), Patient Engagement Software (PES), Electronic Health Records (EHR), and other software enable efficient management of patient data by medical staff. Organizations can also develop customized health software tailored to their specific needs, empowering clinical experts to effectively manage their practices.

The wearables segment of the global digital health and wellness market was valued at USD 129.84 billion in 2022. Wearable technologies include fitness trackers like Fitbit charge, VR headsets, smart jewelry, web-enabled glasses, smartwatches, and Bluetooth headsets. The most common types of wearables are smart glasses and smartwatches, which collect real-time information and capture screenshots of daily activities for synchronization with mobile devices or laptops. The market is experiencing rapid growth due to increased awareness of healthcare and rising demand for continuous monitoring of real-time health parameters, both pre- and post-surgery.

The global adult digital health and wellness market held a 45.93% market share in 2022 and is expected to witness an absolute growth of 239.38% by 2028. The adult population demonstrates a greater focus on health and fitness, engaging in various sports and exercise activities. Digital technologies assist in monitoring multiple parameters during intense workouts. Moreover, signs of mental disorders among adults include fear or worrying, substance abuse, mood swings, and suicidal ideation.

The global digital health and wellness market, categorized by care providers, includes hospitals, home care settings & individuals, clinics & ambulatory surgical centers, and others. The hospital segment dominated the care providers segment, accounting for 37.74% of the market in 2022. Hospitals are transitioning to digital platforms for healthcare services and patient assistance. With the introduction of telehealth, healthcare providers are implementing telemedicine platforms that enable video consultations, patient engagement, and remote patient monitoring, thereby improving clinical outcomes. Integrating telemedicine allows hospitals to streamline healthcare delivery using existing IT infrastructure. Technological advancements, demographic changes, and economic factors are reshaping hospitals worldwide, leading to an increased shift of inpatient healthcare services to home and outpatient ambulatory facilities. Digital and artificial intelligence (AI) technologies facilitate on-demand interaction and streamlined processes, enhancing the overall patient experience.

The APAC region dominated the global digital health and wellness market, holding a market share of 44.97% in 2022, and this dominance is expected to continue during the forecast period. Factors contributing to the market growth in APAC include a higher prevalence of mental disorders, a growing geriatric population, and increased healthcare expenditure. Compared to other countries, China and India have the highest number of people with diabetes. China’s telemedicine development is comparable to India’s, as both countries have similar populations and numerous rural areas with limited healthcare facilities. The burden of managing these patients’ overall health is expected to increase over time, driving the demand for weight management and fitness monitoring.

The digital health and wellness market in Europe was valued at USD 65.82 billion in 2022. The region’s growth is predominantly driven by the increasing demand for technologically advanced systems and automation in R&D activities within the wellness industry. Furthermore, the market for mental wellness in the region is projected to advance steadily during the forecast period. Mental health is influenced by various factors, including socio-economic background, genetic predisposition, chronic medical conditions, adverse childhood experiences, or substance abuse.

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Competitive Landscape

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The global digital health and wellness market is characterized by a high level of fragmentation, which is expected to further increase throughout the forecast period. There exists a significant number of vendors operating on both a global and domestic scale across various geographic regions. Key vendors in the global digital health and wellness market include Headspace, FranklinCovey, Vivify Health, Teladoc Health, Apple, and Samsung. The industry has witnessed the entry of numerous external players, including large businesses and other entities operating in the health and fitness sector, who offer in-house services and membership discounts to strengthen their position in the industry. Mergers and acquisitions are common occurrences within the market, as players seek to expand their offerings and achieve a more comprehensive presence.

Key companies profiled in this report include Headspace, FranklinCovey, Vivify Health, Teladoc Health, Apple, Samsung, Altopax, Amelia Virtual Care, BigHealth, Calm, CogniFit, CuraLinc Healthcare, Epitel, Fitbit, Ginger, Global Kinetics, HealthUnlocked, Healthy Hero, Koa Health, Misu, MyndYou, OxfordVR, Psycurio, Rani Therapeutics, Talkspace, Twill.

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Key Questions Answered

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What is the current valuation of the global digital health and wellness market in terms of revenue?

The global digital health and wellness market was valued at USD 335.00 billion in 2022, representing its share by revenue.

What is the projected growth rate of the digital health and wellness market?

The digital health and wellness market is expected to grow at a compound annual growth rate (CAGR) of 21.97% from 2022 to 2028.

What are the key factors driving the growth of the digital health and wellness market?

The adoption of telehealth services, the increasing prominence of artificial intelligence (AI), and the growing utilization of data analytics in the wellness sector are significant driving factors for the digital health and wellness market.

Which companies are considered key players in the global digital health and wellness market?

Key players in the global digital health and wellness market include Headspace, FranklinCovey, Vivify Health, Teladoc Health, Apple, and Samsung.

Which region holds the largest market share in the global digital health and wellness market?

The Asia-Pacific (APAC) region dominates the global digital health and wellness market, accounting for 44.97% of the market share in 2022. Important opportunities for vendors can be found in markets such as China, India, Japan, and South Korea.