The revenue of the digital health market is expected to reach $171.9 billion by the end of 2024. The fastest growing industry is expected to exhibit a compound annual growth rate of 8.49% over the next 5 years, leading to a market volume of $258.3 billion by 2029.
This growth comes as a result of real-time technological advancements, which provide better patient care by making health and living more accessible to more people.
Over the past decade, the market has seen everything from the growing use of telemedicine to more patient-centered care. But what innovations can consumers, healthcare professionals, and startups expect to see as 2025 quickly approaches?
Here are two key digital healthcare trends to watch out for over the next year and beyond.
1. Artificial Intelligence
With an expected compound annual growth rate (CAGR) of 38.5% from 2024 to 2030, artificial intelligence tools will continue to trend in the healthcare market,
These tools are becoming increasingly important in diagnosis. For example, they can analyze everything from genetic data to medical images, providing results faster than conventional testing methods. This allows for the detection of diseases such as cancer, helping health care professionals to provide timely treatment that produces better results.
Machine learning algorithms facilitate the creation of medical information that provides diagnostic features. This makes personal appointments more efficient, reducing long waits and travel times. AI also alleviates some of the pressure placed on overburdened healthcare systems, promoting smoother operations and an improved patient experience.
2. Wearable Devices
As of 2023, 34% of US citizens have a wearable device. This number is expected to continue to grow over the next decade, with research suggesting that the global market will reach a value of 324.73 billion dollars by 2032.
Fitness trackers and smartwatches offer a simple and convenient way for users to manage their fitness by automatically monitoring key metrics. They do this by collecting real-time health data, including the number of daily steps taken, amount of exercise completed, sleep quality, blood pressure, and glucose levels.
Wearable devices allow consumers to be more proactive than ever when it comes to their health, make healthy choices and treat early symptoms before they progress to chronic diseases. They will continue to be an incredibly effective tool for healthcare professionals in 2025.
For example, virtual hospital wards provide a seamless continuity of postoperative care by monitoring patients and reducing the frequency of personal hospital visits. Wearable devices are even being used by health insurance providers, who analyze collected data to provide accurate, customized health care plans that truly meet customer needs.
One digital health company that truly understands the importance of this trend is Kilo Health, as CEO Zygimantas Surintas explains:
“When we talk about trends, the first thing that comes to mind – simplicity. People these days are looking for innovation and new tools to help them live well and achieve their goals. They want to simplify things, which means they don’t want complex operations – they want help with the use of technology.”
Global health leaders have found this through their new Co-Found program, which helps budding entrepreneurs turn their ideas into digital health products.
The program has so far provided financial investment, operational resources, and marketing expertise to help co-founders launch everything from wearable vagus nerve stimulation devices to blood pressure monitors, adding to Kilo Health’s extensive portfolio.
Find out more about the Affiliate Program and how it helps startups capitalize on emerging digital health trends on the Kilo Health website.
Source link
