mHealth Market

mHealth Market

mHealth Market to Reach US$ 209.4 Bn by 2032, driven by increasing penetration of the internet and smartphones and growing adoption of mHealth technology and platforms by physicians and patients

New York, April 2023: According to a new research study by Global Insight Services (GIS), the global MHealth Market is expected to grow rapidly over the next 10 years to reach a value of more than the US $ 209.4 Billion by 2032.

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.

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Digital Power Utility Market: Key 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 year.

Digital Power Utility Market: Restraints & 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.

MHealth Market Report Findings

https://www.globalinsightservices.com/reports/mhealth-market/

The apps segment is likely to hold a dominant MHealth Market share and grow at a substantial CAGR during the forecast period.

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.

The Providers segment is likely to hold a dominant MHealth Market share and grow at a substantial CAGR during the forecast period.

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.

The North America region is estimated to exhibit the highest growth rate during the MHealth Market forecast period.

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.

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Competitive Landscape

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 other.

Recent Developments in the Digital Power Utility Market:

  • 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.

MHealth Market Report Coverage

  • The report offers a comprehensive quantitative as well as qualitative analysis of the current global MHealth Market outlook and estimations from 2022 to 2032, which helps to recognize the prevalent opportunities.
  • A thorough analysis of market trends and restraints is provided.
  • Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
  • The forecasts in this report are made by examining the recent trends along with future MHealth Market potential from 2022 to 2032 in terms of revenue.
  • Porter’s five forces analysis, SWOT analysis, COVID-19 impact analysis, Russia-Ukraine war impact, and PESTLE analysis of the MHealth Market are also analyzed.
  • Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global surface disinfectants industry.

Global MHealth Market Segmentation

By Product & Services

  • mHealth Apps
  • Medical Apps
  • Fitness Apps
  • Connected Medical Devices
  • Vital Signs Monitoring Devices
  • Peak Flow Meters
  • Sleep Apnea Monitors
  • Multiparameter Trackers
  • Fetal Monitoring Devices
  • Neurological Monitoring Devices
  • Others

mHealth Services

  • Remote Monitoring Services
  • Diagnosis & Consultation Services
  • Treatment Services
  • Healthcare System Strengthening Services
  • Fitness & Wellness Services
  • Prevention Services

By End-user

  • Healthcare Providers & Payers
  • Patients/Consumers
  • Others

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • Rest of World
    • Latin America
    • Middle East
    • Africa

Key Players

  • 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)
  • TrueCare24, Inc. (US)