The Global Healthtech Market size was estimated at USD 32.4 billion in 2020 and is expected to hit around USD 189.69 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 19.33% from 2022 to 2030.
Global Healthtech Market: Breakup by Region, 2022 & 2031
Source: Primary Research and Secondary Research Analysis
Healthcare technology refers to any IT tools or software designed to increase hospital and administrative productivity, provide new insights into medicines and treatments, or improve overall healthcare quality.
As technology advances and healthcare systems around the world face mounting challenges, such as an ageing population, rising healthcare costs, and a shortage of healthcare workers, healthtech is becoming an increasingly important field. Healthtech has the potential to improve patient outcomes, lower healthcare costs, and increase access to care, particularly for underserved populations, by leveraging technology.
The global healthtech market has grown significantly in recent years as a result of technological advancements, increased demand for remote healthcare services, and the need for more efficient and cost-effective healthcare solutions. The rise of telemedicine, which allows remote access to medical care, and the use of wearable healthtech devices such as fitness trackers and smartwatches that can monitor vital signs and physical activity are two key market trends in the healthtech market. The widespread use of digital health solutions such as mobile apps and electronic health records has also improved patient access to healthcare and increased the efficiency of coordination between healthcare providers. Artificial intelligence (AI) is increasingly being used in medical imaging, drug discovery, and personalised medicine, opening up new avenues for bettering patient outcomes and lowering healthcare costs. Because of advances in genomics and other technologies, the trend towards personalised medicine, which tailors medical treatments to individual patients, is also gaining traction.
The global healthtech market has huge potential to transform the healthcare industry, but it faces major challenges. These include navigating complex and changing regulatory landscapes, ensuring data privacy and security, ensuring interoperability with existing healthcare systems, high development and implementation costs, healthcare system resistance to change, and unequal access to healthtech solutions in low-income and underserved communities. Addressing these issues is critical to realising the full potential of healthtech and improving healthcare outcomes globally.
Global Healthtech Market Research Report, 2020-2031
Table of Contents
On Request
Our reports with in-depth insights will equip you to succeed in your business plans.
Get instant access to the information you need to make the right decision.
Explore where opportunities lie for you and mitigate the risks.
We are one of the most trusted brands setting benchmarks of excellence.