The value of the mHealth market is projected to grow to US$ 415.6 Bn with an estimated CAGR of 15.7% by 2031.
Currently, mobile technology has developed across the world. Integration of mobile technology into healthcare services helps manage customer’s day to day tasks efficiently. To reduce the bridge between patients and healthcare professionals, mobile connectivity plays a major role. Increase in the utilization of mobile devices and smartphones is leading the global mHealth market.
Increase in the acceptance of mhealth applications & connected devices, government rules and healthcare delivery are the main reasons that are helpful in expanding the mhealth industry. Effective utilization and cost-effective medical devices, use of tablets, smartphones and different mobile platforms are encouraging the growth of the mhealth market. Wireless devices of medical and the mhealth applications are based on internet, rising use of the internet is fueling the increase of the global mhealth market size.
There are various mobile medical applications developed and available in the market to avoid the risk of health. By developing different applications, many companies are contributing to making people aware of their health. From 2015, Apple app store and Google Play have developed a number of medical apps till the prime quarter of 2018. As per the previous measured period, there were 47,911 iOS healthcare applications which represent an increase of 0.48%. Whereas Google Play has almost 51,133 healthcare apps available, representing upsurge of 5.7% over the prior quarter. Rising demand for the health-related applications will contribute to scaling up the global mHealth market share.
With the collaboration with the industry, there are some of the new products launched for the growth of the mhealth industry. Current products are mainly focusing on the blood glucose monitors and the cardiology. In addition, Health monitors, Activity Trackers, Pedometers and Smartwatches are the trending devices launched by companies like iHealth, Samsung, Philips Healthcare, Apple, LifeWatch AG and many more. Many of the players are working in collaboration with providers to gain attention in mhealth industry across the globe. For instance, LifeWatch has collaborated with telecom of China for selling the medical smartphones.
mHealth market is segmented on the basis of end-user, products and geography. On the basis of end-user, the market of mHealth is divided into B2B and B2C. B2B is further divided into employers, payers and providers whereas B2C is divided into caregivers and patients. Rise in the acceptance of mHealth solutions by companies of health insurance, hospitals and organizations of government are projected to boost the growth of B2B in the coming years. B2B segments hold the largest market share and are propelled to increase in the forecast period.
On the basis of products, the global mHealth industry is divided into mHealth services, applications and connected medical devices. mHealth services are divided into diagnostic services, monitoring services, wellness & fitness solutions, treatment services and other services. mHealth applications are segmented into diabetes cardiovascular diseases, respiratory diseases, central nervous system disease, medication adherence and smoking cessation whereas connected medical devices are divided into activity monitors, neuromonitoring, heart rate monitors, fetal monitoring and electrocardiograph.
Geographically, the mHealth market is well penetrated in Latin America, Asia Pacific, Europe, Middle East & Africa and North America. North America holds the largest share of the global mHealth market whereas Asia and Europe are expected to experience a significant growth due to advancements in health technology. Moreover, the mHealth market in the Asia Pacific estimated to grow at the highest CAGR amongst other regions. The main factors to drive the growth of the global mHealth market share in the Asia Pacific are an aging population, increasing disposable income and an increase in chronic disorders.
Key company profile in the Global mHealth Market report Apple Inc., Omada Health, Inc., FitBit, Inc., Proteus Digital Health, Livongo Health, Propeller Health, Canary Health, Twine Health, Inc., Mango Health, BiogeniQ Inc., Glooko, Inc., Firstbeat Technologies Ltd., Claritas MindSciences, Dthera Sciences, Big Health, Virta Health Corp , AT&T, Inc., Airstrip technologies, Inc., Alcatel-lucent, Cerner Corporation, Qualcomm, Inc., Diversinet Corp., Koninklijke Philips N.V., SoftServe, Inc., Symantec Corporation, Vodafone Group plc.
Mhealth Market Scope
|Forecast Unit||Value (USD)|
|Segment Covered||End-User, By Applications, By Connected Devices, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Apple Inc., Omada Health, Inc., FitBit, Inc., Proteus Digital Health, Livongo Health, Propeller Health, Canary Health, Twine Health, Inc., Mango Health, BiogeniQ Inc., Glooko, Inc., Firstbeat Technologies Ltd., Claritas MindSciences, Dthera Sciences, Big Health, Virta Health Corp|
Key segments of the mHealth Market
By Component Wearables, 2022 to 2031 (USD billion)
- BP Monitors
- Glucose Meters
- Pulse Oximeters
by Services, 2022 to 2031 (USD billion)
- Monitoring Services
- Independent Aging Solutions
- Chronic Disease Management
- Post-acute Care Services
- Diagnosis Services
by Application, 2022 to 2031 (USD billion)
- General Healthcare & Fitness
- Medication Information
- Remote Monitoring, Collaboration, and Consultancy
- Healthcare Management
- Health Data & Record Access
by End-user, 2022 to 2031 (USD billion)
- Public / Private Healthcare Institutions
- Healthcare Workers
Region Overview, 2022 to 2031 (USD billion)
- North America
- United States of America
- the Netherlands
- The United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America