mHealth Market Size By Platform (Mobile Apps {Wellness Management [Diet and Nutrition, Lifestyle and Stress, Exercise and Fitness], Health Condition Management [Disease Specific, Medication Reminders, Women's Health and Pregnancy, Healthcare Providers/Ins

mHealth Market Size By Platform (Mobile Apps {Wellness Management [Diet and Nutrition, Lifestyle and Stress, Exercise and Fitness], Health Condition Management [Disease Specific, Medication Reminders, Women's Health and Pregnancy, Healthcare Providers/Insurance]}, Wearable Devices {Fitness Devices, Blood Glucose Monitors, Cardiac Monitors, Neurological Monitors, Respiratory Monitors, Body & Temperature Monitors}), By Application (Communication and Training, Education and Awareness, Diagnostics and Treatment, Disease and Epidemic Outbreak Tracking, Remote Data Collection, Remote Monitoring), By End-use (Hospitals {Healthcare Providers/Physicians, Patients}, Insurance Companies, Research Centers, Pharmacies, Biopharmaceutical Companies, Government, Tech Companies), Industry Analysis Report, Country Outlook, Growth Potential, Application Potential, Competitive Market Share & Forecast, 2023-2032

Global mHealth Market size is expected to grow considerably between 2023-2032, owing to the increasing penetration of mobile phones and internet across the globe. Affordable and faster diagnosis, improved quality and approach, remote and accessible monitoring, and enhanced medication adherence are some of the key factors that are slated to add impetus to the market expansion through 2032.

While mHealth is crucial for providing high-quality care and diagnosis at a reasonable cost, the lack of standardized regulations is said to hamper its adoption in the coming years.

Although, the constantly increasing momentum of mHealth apps in the healthcare sector, along with the benefits of virtual care that have been realized in the COVID-19 pandemic realm, are projected to positively impact the industry outlook over the projected time.

The key players in the mHealth industry are constantly engaging in strategic initiatives such as partnerships, mergers, acquisitions, and unveiling new products to reinforce their position in the industry. To cite an instance, in 2022, Apple unveiled iOS 16 and watchOS 9. The Apple Watch and iPhone will help monitor 17 areas of health and fitness, from heart health and sleep to mobility, women's health, and more.

Overall, the mHealth market is segmented in terms of platform, application, end-use, and region.

In terms of platform, the mobile application segment is estimated to demonstrate sturdy growth. This can be credited to the rising adoption of mobile devices by healthcare professionals across the globe for enhanced communication and improved information resources at the point of care.

Based on application, the disease and epidemic outbreak tracking segment is expected to register rapid growth, depicting over 23% CAGR between 2023-2032. Rising inclination among consumers regarding the mHealth applications for tracking diseases in real-time, along with saving huge costs on healthcare is expected to pave the way for segmental expansion over the next ten years.

On the basis of end-use, the pharmacies segment held over USD 12.5 billion market share in 2022 and is anticipated to witness lucrative growth between 2023 and 2032. mHealth technology offers pharmacists the access to clinical data on patient-specific adherence and helps them have a sufficient supply of medication to suit patients' needs. In addition, several initiatives and approaches taken by various public and private organizations are set to propel the market growth during the estimated timeframe.

Regionally, the Europe mHealth market is anticipated to be valued at over USD 241.5 billion by 2032. The growth can be attributed to a well-established telecommunications network in the region. Besides, the countries across the region are constantly seeking to provide immediate and low-cost healthcare services to patients in remote places, driving market growth through 2032.