Digital health market revenues are expected to reach $171.9 billion by the end of 2024. The fast-growing industry is also projected to show an annual growth rate of 8.49% over the next 5 years, resulting in a market volume of $258.3 billion by 2029.
This growth comes courtesy of real-time technological advancements, which provide better patient care by making health and wellness more accessible to larger populations.
Over the past decade, the market has witnessed everything from the rising use of telemedicine to more patient-centered care. But what innovations can consumers, healthcare professionals, and startup companies expect to see as 2025 rapidly approaches?
Here are two key digital healthcare trends to keep an eye out for within 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 particularly crucial in diagnostics. For instance, they can analyze everything from genetic data to medical images, offering results more quickly than traditional evaluation methods. This allows for the early detection of diseases like cancer, helping healthcare professionals provide timely treatments that produce better outcomes.
Machine learning algorithms facilitate the creation of medical databases that offer symptom-checking features. This makes in-person appointments more efficient, minimizing long waiting and travel times. AI also relieves 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 owned a wearable device. This number is expected to keep growing over the next decade, with research suggesting that the global market will reach a value of $324.73 billion by 2032.
Fitness trackers and smartwatches offer a simple and convenient way for users to take control of their own wellness by automatically monitoring key metrics. They do this by collecting real-time health data, including the number of daily steps taken, the amount of exercise completed, sleep quality, blood pressure, and glucose levels.
Wearable devices allow consumers to be proactive rather than reactive when it comes to their health, making healthier choices and treating early symptoms before they progress into chronic diseases. They will also continue to be an incredibly effective tool for healthcare professionals in 2025.
For instance, virtual hospital wards offer seamless continuity of postoperative care by monitoring patients and reducing the frequency of in-person hospital visits. Wearable devices are even used by health insurance providers, who analyze the data collated to offer accurate, customizable health care plans that truly cater to customer needs.
One digital health company that truly understands the value of this trend is Kilo Health, as CEO Zygimantas Surintas explains:
“If we talk about trends, the first thing that comes to mind is – simplicity. People these days want innovation and new tools to help them live healthier and achieve their goals. They want simplicity, meaning they don’t want complicated functionality – they just want help with the use of technology.”
The global wellness leaders have achieved this through their innovative Co-found Program, which helps budding entrepreneurs transform their ideas into digital health products.
The program so far has provided the financial investment, operational resources, and marketing know-how 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 Co-found Program and how it helps startup companies make the most of emerging digital health trends on the Kilo Health website.
