Digital health market worldwide 2024, by segment

The digital health market is experiencing significant growth across various segments, with fitness trackers leading the way. In 2024, fitness trackers are projected to generate nearly 75 billion U.S. dollars in revenue worldwide, highlighting the increasing consumer interest in wearable technology for health monitoring. This trend is further supported by the widespread adoption of smartwatches, with physical activity tracking being the most common health indicator measured by European users in 2023.

Growth in digital health segments

While fitness trackers dominate the market, other segments are also showing promise. Digital care management, which includes online pharmacies and medication checker apps, is expected to generate around 54.4 billion U.S. dollars in 2024. The overall digital health market is forecasted to see substantial user growth across all segments from 2019 to 2029, with the Digital Fitness & Well-Being segment projected to reach 2.1 billion users by 2029. This growth is indicative of the increasing integration of digital solutions in healthcare and wellness practices.

Investment trends and popular applications

The digital health industry is attracting significant investment, particularly in major U.S. metropolitan areas. In 2022, the San Francisco metro area alone accumulated over six billion U.S. dollars in digital health investments. However, the industry has seen fluctuations in mega deals, with the number dropping from 88 in 2021 to 35 in 2022. Despite this, consumer interest remains strong, as evidenced by the popularity of health and fitness apps. In 2022, Sweatcoin led the pack with 52 million downloads worldwide, followed closely by the Blood Pressure App with 51 million downloads.