Global Mobile health (mHealth) Market - 2022-2029

Global Mobile health (mHealth) Market - 2022-2029

Market Overview

Mobile Health Market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of YY% during the forecast period (2022-2029).

Mobile health (mHealth) is a broad phrase for using mobile phones and other wireless technology in medical care. The most common application of mHealth is the use of mobile devices to educate consumers about preventive healthcare services.

Market Dynamics

Growing awareness about healthcare management, increasing use of smartphones and tablets owing to the benefits and convenience, and increasing focus on personalized medicine drive the global mHealth market.

The benefits and convenience offered by mobile health (mHealth) are pushing the market growth.

The benefits and convenience offered by mobile health are fueling the global market growth. For instance, mobile health technologies help patients quickly send secure messages, schedule appointments and connect 24/7 for telemedicine visits. In particular, telemedicine is among the fastest growing ways patients use mHealth apps on their mobile devices. It also improves medication adherence by providing patients with features such as automated medication and refills reminders and educational information that enhances the probability, they’ll take their medications properly. Furthermore, telehealth enables patients to use mobile devices and mobile health technology to gather, enter, or automatically collect health data and convey it to healthcare providers, allowing remote patient monitoring, a subcategory of home care. Moreover, Mhealth improves medication reconciliation precision, that in turn improves patient safety example of which is the Cureatr Meds 360 solution offers providers and other clinicians a bird’s-eye view of all medications a patient has been prescribed with pick up and refill history, dosage changes, and more on an uncluttered, iPhone or Android screen display.

Privacy and security risks will restrain global mobile health (mHealth) growth.

However, with the threat of constant hacking or data discrepancy, security and privacy concerns will hamper the global market growth in the forecast period.

COVID-19 Impact Analysis

During the outburst, there was an increased focus on telemedicine and virtual care, which made it a bit convenient to fight against the pandemic with the constant risk of getting infected with the virus, significantly impacting the global market growth. For example, Harward Global Health Institute created a COVID-19 forecasting model enabling an early alert system for COVID-19 cases, hospitalizations, ICU admissions, ventilator utilization, and deaths, allowing healthcare professionals to act with a proactive attitude in squelching the pandemic. Even after the threat of COVID-19 virtual healthcare strategy is highly practiced since it offers considerable benefits.

Segment Analysis

The monitoring services segment of mobile health (mHealth) is expected to grow at the fastest CAGR during the forecast period (2022-2029).

The monitoring services are expected to dominate the global market during the forecast period (2022-2029). Owing to the advantages and benefits offered by remote monitoring using smartphones since there are over three billion smartphone users worldwide, making it the most straightforward manner to reaching out to multitudes and remote areas, with smartphone technologies, wearable sensors, and smartphone platforms, remote monitoring the health/vitals of patients have become very easy and convenient. Resulting in preventive care, well-timed diagnosis, screening of ailments, and timely treatment, which in turn has reduced and will significantly reduce the number of hospital visits, and hospitalization, reducing hospital-induced infections. Collectively, all these benefits result in improving the quality of life. Furthermore, for effective patient care and safety, constant monitoring of physiological parameters is needed, which the technology's flexibility allows through real-time basis monitoring of the parameters in non-clinical environments such as home, office, park, traveling, Etc. and ease the communication of alerts/notifications to the healthcare professional, so urgent attention can be provided remotely in case of an emergency.

Geographical Analysis

The North America region will dominate the global mobile health (mHealth).

North America is expected to dominate the global market during the forecast period (2022-2029) since most of the key players in this market, such as one medical, GE Healthcare, Apple, OMADA Health, Medtronics Plc, Johnson & Johnson, AT&T are U.S. based and with different market, strategies have a hold over a large share of the market. For instance, in February 2022, Hartford HealthCare and One Medical Announce Collaboration Focused on Seamless Coordinated Care; in September 2021, One Medical acquired Iora Health, a human-centered, value-based primary care organization with built-for-purpose technology focused on serving the Medicare senior population.

Also, in April 2021, Omada Health Launched the First Virtual Cardiometabolic Clinic, a Physician-Guided Care Program; in May 2020, Omada Health Acquired Physera, a leading musculoskeletal care company that delivers interventions digitally and via telehealth.

Competitive Landscape

The key players operating in the global mobile health (mHealth) market are One Medical, GE Healthcare, Apple, OMADA Health, Omron Healthcare, LifeWatch, Medtronics Plc, Johnson & Johnson, Samsung Healthcare Solutions, AT&T, Philips Healthcare, and Bayer Healthcare. The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of Mobile health (mHealth) globally. For instance, In January 2022, OMRON Healthcare, Inc. introduced VitalSight in the United States, Hypertension Plus in the U.K., and HeartVoice in Singapore to encourage more powerful active health condition management, boost the patient-physician association, and guide behavior change that reduces or eliminates heart attack and stroke risk.

GE Healthcare

Overview:

GE Healthcare is headquartered in Chicago, Illinois, United States, founded in 2004. It is a subsidiary of American Multinational Conglomerate General Electric. It is a leading manufacturer and distributor of diagnostic imaging and radiopharmaceuticals for imaging modalities used in medical imaging procedures.

Product Portfolio:

GE Healthcare’s product portfolio for mHealth has Carestation Insights LIVE Mobile Application, Centricity Universal Viewer Zero Footprint, Vscan Extend Bladder Volume App, Vscan Extend Lung Protocol App, Vscan Extend Protocol Creator App, Etc.

The global mobile health (mHealth) report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.