mHealth Market Analysis And Forecast To 2032: By Product & Services (mHealth Apps, Connected Medical Devices, mHealth Services), End User (Healthcare Providers & Payers, Patients/Consumers, Others), and Region

mHealth Market Analysis And Forecast To 2032: By Product & Services (mHealth Apps, Connected Medical Devices, mHealth Services), End User (Healthcare Providers & Payers, Patients/Consumers, Others), and Region

The global mHealth Market was valued at USD 112.3 Billion in 2022 and it is anticipated to grow up to USD 209.4 Billion by 2032 at a CAGR of 6.4% during the forecast period.

mHealth is defined as a separate branch of eHealth, which deals with the collection of patient data. This patient data is collected through wireless electronic means such as cell phones, wearable and other mHealth devices. In addition, the collected patient data is stored in the cloud remotely using mHealth application. This stored data is made available to healthcare professionals for the purpose of analyzing health-related parameters. For example, the mHealth Blood Pressure Monitor collects data related to patient BP fluctuations. These values ​​are immediately checked by healthcare professionals to determine the severity of the condition. In addition, various types of medical devices and services are available in the market. For example, blood glucose monitor, BP monitor, pulse oximetry, neurological monitoring, heart monitor, apnea and sleep monitor, and others.

Global MHealth Market Scope and Report Structure

Market Trends and Drivers

The rising focus on improving personal health and fitness using smart devices and wearables is the major factor accelerating market growth. Besides, increasing penetration of the internet and smartphones and growing adoption of mHealth technology and platforms by physicians and patients are also anticipated to propel market growth. Furthermore, the rising penetration of digital health services for remote patient monitoring is also increasing the demand for mobile health apps, which in turn is expected to propel market growth over the forecast years. In addition, the increasing use of smartphones among the adult population and teenagers is also anticipated to drive the growth of mHealth platforms and technologies in the upcoming years. Moreover, the shift in trend from conventional healthcare practices to patient-centric and preventive approaches is also anticipated to drive the market for mHealth over the years. The high preference for mobile medical platforms and the positive attitude of healthcare professionals toward real-time patient care are also likely to accelerate the growth of the market during the forecast years.

Market Restraints and Challenges

Privacy and data security concerns are some of the factors anticipated to hamper the adoption of mHealth technologies. Data accessibility issues, configuration changes, data breaches, and the leakage of sensitive health information are the concerns expected to impede market growth. For example, in 2019, the personal and medical data of about 24.4 million people was leaked by the American Medical Collection Agency (AMCA), a medical bill collector for several companies. However, this type of restraint is expected to reduce during forecast periods with the government imposing stringent regulations on the market players regarding data privacy.

Global MHealth Market Segmental Overview

The report analyses the global mHealth Market based on product & Services, end-user, and region

Global MHealth Market by Product & Services

By product & services, the MHealth Market is segmented into mHealth Apps, Connected Medical Devices, mHealth Services. The mHealth Apps segment held the largest market share of xx% in 2022 and is expected to grow at a significant CAGR over the forecast period. The mHealth apps segment dominated the market for mHealth and accounted for the largest revenue share of 76.5% in 2022. Increasing penetration of the internet and smartphones and the growing adoption of mobile health apps by healthcare professionals and the patient population are the factors responsible for the high market value of the segment. Furthermore, growing awareness regarding mobile health apps for remote patient monitoring, patient tracking, medication management, disease management, fitness and wellness, women's health, personal health record management, etc. are also anticipated to drive the fastest CAGR during the forecast period.

Global MHealth Market by End-user

By end-user, the MHealth Market is segmented into mHealthcare Providers & Payers, Patients/Consumers, Others. The mHealthcare Providers & Payers segment is projected to emerge as one of the fastest-growing segments in the market for next-generation mHealth over the forecast period. An increase in the number of mobile subscribers and improvements in network infrastructure are major factors responsible for the highest share of the segment. In addition, rising 3G and 4G technologies and growing industry consolidation activities by the leading players are also anticipated to drive the segment over the forecast years. Additionally, the increasing trend of using smartphones, coupled with the rapid development of several healthcare mobile apps are the factors likely to boost the growth of this segment. Furthermore, direct involvement of content players for the development of medical health applications and technologies, documentation handling, remote patient monitoring, health activity tracking, and appointment scheduling are also anticipated to drive the segment growth over the forecast years.

Geographical Analysis of Global MHealth Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America dominated the market for mHealth and accounted for the largest revenue share of 37.1% in 2022 owing to several factors, which include growing healthcare expenditure, increasing incidences of chronic diseases, rising geriatric population, and highly developed network infrastructure. In addition, favorable government initiatives and the growing adoption of mobile healthcare applications are accelerating the demand for mHealth services in the region. Moreover, the rising burden of cardiovascular diseases in the region is driving the demand for real-time monitoring. The availability of mHealth apps that can provide real-time information related to cardiovascular health can prevent major health issues and reduce the death rate due to sudden cardiac arrest.

Major Players in the Global MHealth Market

The key players in the market are AgaMatrix, Inc. (US), AIRSTRIP TECHNOLOGIES, INC. (US), Apple Inc. (US), AT&T Inc. (US), athenahealth, Inc. (US), iHealth Labs, Inc. (US), Koninklijke Philips N.V. (Netherlands), Medtronic (US), OMRON HEALTHCARE Co., Ltd. (Japan), and TrueCare24, Inc. (US), among others.

COVID-19 Impact:

The COVID-19 pandemic outbreak has positively impacted the market. The favorable government strategies and increasing collaboration of the manufacturers with several healthcare institutions are also expected to drive the market for mHealth over the years. For instance, Philips collaborated with American Telemedicine Association (ATA) in 2020 for increasing the implementation and adoption of telehealth services during the COVID19 pandemic.

Similarly, the increasing investments in digital health are also one of the major factors anticipated to propel the growth of the mHealth market. For instance, as per Becker's Healthcare report during the first three-quarter of 2021, there have been 251 digital health investment deals. In order to improve the health of populations, mobile health platforms have gained traction during COVID 19 pandemic. The pandemic has encouraged the patients and healthcare providers to adopt the digital health platforms owing to the infection fear and shut down and lock down scenarios across the globe

Recent Developments:

• In August 2022, Kaiser Permanente of the Northwest and Medical Teams International launched an innovative initiative, namely Kaiser Permanente Care & Connect, that will provide mobile healthcare services to marginalized populations throughout the Pacific Northwest.
• In June 2022, Orange Health launched its diagnostic services in New Delhi, India, as part of its ambitious geographical expansion plan. With this launch, customers across the NCR region can avail of a wide range of diagnostic services in just 60 minutes from the comfort of their homes, with reports in six hours.
• In August 2020, Allscripts entered into a partnership with Sheba Medical Center for the development of AI-based technology in the mHealth market.
• In September 2019, Apple Inc. introduced a mHealth app research to assist the researchers in clinical studies.

Frequently Asked Questions

Q1.

How big is the MHealth Market?

Ans.

The global MHealth Market was valued at USD 112.3 Billion in 2022 and it is anticipated to grow up to USD 209.4 Billion by 2032 at a CAGR of 6.4% during the forecast period.

Q2.

What is the MHealth Market growth rate?

Ans.

The growth rate of the MHealth Market is 6.4%

Q3.

Which region holds a major market share for the market?

Ans.

North America holds a major market share of the MHealth Market in 2022.

Q4.

Which segment accounted for the largest MHealth Market share?

Ans.

By storage system, direct storage system segment accounted for the largest MHealth Market share.

Q5.

Who are the key players in the Market?

Ans.

The global MHealth Market report includes players such as AgaMatrix, Inc. (US), AIRSTRIP TECHNOLOGIES, INC. (US), Apple Inc. (US), AT&T Inc. (US), athenahealth, Inc. (US), iHealth Labs, Inc. (US), Koninklijke Philips N.V. (Netherlands), Medtronic (US), OMRON HEALTHCARE Co., Ltd. (Japan), and TrueCare24, Inc. (US), among others.

Q6.

What are the factors driving the MHealth Market growth?

Ans.

Factors such as increasing penetration of the internet and smartphones and growing adoption of mHealth technology and platforms by physicians and patients are also anticipated to propel market growth.

Q7.

What are the key growth strategies of MHealth Market players?

Ans.

The key growth strategies of MHealth Market players are product launch and product approval.

Q8.

Which region will provide more business opportunities for the MHealth Market during the forecast period?

Ans.

The Asia-Pacific region will provide more business opportunities for the MHealth Market during the forecast period.

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