Global digital health market
The global digital health market was valued at 80 billion U.S. dollars in 2015 and is expected to increase to over 200 billion U.S. dollars by 2020. During this time, the mobile health segment of the industry is expected to generate the second largest revenue share, reaching 46 billion U.S. dollars in 2020.
Mobile health is experiencing a growth trend as consumers demand more accessibility to their medical health professionals and transparency in health care becomes more important. However, some hesitation still exists among consumers in regards to the privacy of personal information and the security of data systems. Approximately 33 percent of females reported that they were not at all comfortable sharing self-collected digital information, while about 12 percent of male consumers claimed to be very comfortable. More efficient healthcare expenditures are also important to many consumers, where 43 percent of consumers state that the ability to reduce one’s own health care costs is driving their adoption of mHealth applications and services.
China’s market is expected to generate large growths in the overall global market, reaching 125.3 million RMB in 2017. The emergence of the digital health market is expected to increase the potential of big data and analytics and transform the consumer healthcare market.