Mobile Health (mHealth) Market Outlook 2031
The mobile health (mHealth) market size was valued at USD 51,635 Million in 2020 and is projected to reach USD 2,25,765 Million by 2028, expanding at a CAGR of 25% during the forecast period, 2021–2028. The growth of market is attributed to increasing use of tablets and smartphones across the world.
The mHealth is a component of eHealth, according to WHO. mHealth is described by the national institutes of health (NIH) as the use of mobile and wireless technologies (such as cell phones, tablets, and patient monitoring devices, as well as personal digital assistants (PDAs)) to enhance health outcomes, health care services, and health research.
The Covid-19 pandemic has positive impact on mobile health (mHealth) market. Virtual care delivery is rising up as an efficient alternative for safe and improved communication as a result of social distance enforced by many governments across the world. Mobile health solutions have become a lifeline for consultation, mostly through cellphones and remote monitoring. The main reason for this is that many healthcare practitioners handle patients in a two-way manner. As a result, increased Covid-19 instances are projected to boost the mobile health industry in the near future.
In March 2020, accuRx, a digital healthcare start-up sponsored by Innovate UK, created & launched a video consultation software that allow UK-based healthcare practitioners to connect remotely with their patients, reducing the risk of infection from visiting Covid-19 patients.
Mobile Health (mHealth) Market Trends, Drivers, Restraints, and Opportunities
- increased awareness among the individuals to adopt mobile health solutions and encouraging government initiative to promote and develop remote digital healthcare are some of the factors projected to drive the market.
- Increased usage of smartphones among adults and teenagers is expected to propel the mHealth market.
- Shift in trend from traditional healthcare procedures to patient-centric and preventive measures is anticipated to fuel the market..
- Rising desire for mobile medical platforms, as well as healthcare professionals' positive attitude towards real-time patient care, are expected to propel the market.
- Concerns about privacy and data security are projected to hamper the market.
- Concerns about data breaches, configuration changes, data accessibility, and the leakage of sensitive health data are projected to hinder the market growth.
Scope of Mobile Health (mHealth) Market Report
The report on the mobile health (mHealth) market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mobile Health (mHealth) Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Service Type (Treatment Services, Diagnostic Services, Monitoring Services, Wellness & Fitness Solutions, and Others), Device Type (Blood Glucose Monitors, Cardiac Monitors, Hemodynamic Monitors, Neurological Monitors, Respiratory Monitors, Body & Temperature Monitors, Remote Patient Monitoring Devices, and Others), Stake Holder (Mobile Operators, Healthcare Providers, Application/Content Players, and Others)
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Regional Scope
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North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Medtronic PLC.; Cisco Systems, Inc.; Koninklijke Philips N.V.; Johnson & Johnson.; Samsung
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Mobile Health (mHealth) Market Segment Insights
The treatment services segment is expected to grow at a rapid pace
Based on services, the mobile health (mHealth) market is divided into treatment services, diagnostic services, monitoring services, wellness & fitness solutions, and others. The treatment services segment is expected to grow at a rapid pace during the forecast period due to increased incidence of ailments such as high blood pressure, diabetes, and cardiovascular disease necessitates patient monitoring for prevention and improved treatment.
The patient information can be conveniently followed & confirmed by the relevant doctor using the wearable device, and the result analysis for treatment services can be grounded. If an abnormal condition is discovered in the patient's e-health monitoring system (EHMS) analysis, the doctor can make suitable judgments based on the aberrant findings.
The blood glucose monitors segment is projected to expand at a rapid pace
On the basis of device types, the market is segregated into blood glucose monitors, cardiac monitors, hemodynamic monitors, neurological monitors, respiratory monitors, body & temperature monitors, remote patient monitoring devices, and others. The blood glucose monitors segment is projected to expand at a rapid pace during the forecast period due to rising prevalence of diabetes, so does the use of continuous blood glucose monitoring devices.
The healthcare provider segment is projected to expand at a considerable CAGR
On the basis of stake holders, the market is segregated into mobile operators, healthcare providers, application/content players, and others. The healthcare provider segment is projected to expand at a considerable CAGR during the forecast period with the introduction of mobile health applications that enable consumers to be more involved in personal health management. Mobile health applications are currently being used by large number of people.
Recent develop remote patient monitoring devices
Abbott Laboratories acquired a CE mark in September 2020 for its next-generation Freestyle Libre 3 diabetes management system. The new Freestyle Libre 3 technology aids in the delivery of continuous, real-time glucose measurements to smartphones every minute, resulting in unrivalled 14-day accuracy.
North America is anticipated to constitute a key market share
In terms of regions, the mobile health (mHealth) market is classified as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is expected to constitute a key share of the market during the projected period due to rising mobile health applications. Smartphones & mobile technologies enable the use of clinical & lifestyle apps to assist, educate, and modify health habits.
Segments
The mobile health (mHealth) market has been segmented on the basis of
Service Types
- Treatment Services
- Diagnostic Services
- Monitoring Services
- Wellness & Fitness Solutions
- Others
Device Types
- Blood Glucose Monitors
- Cardiac Monitors
- Hemodynamic Monitors
- Neurological Monitors
- Respiratory Monitors
- Body & Temperature Monitors
- Remote Patient Monitoring Devices
- Others
Stake Holders
- Mobile Operators
- Healthcare Providers
- Application/Content Players
- Others
Regions
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
Key Players
Competitive Landscape
Key players competing in the mobile health (mHealth) market includes Medtronic PLC.; Cisco Systems, Inc.; Koninklijke Philips N.V.; Johnson & Johnson.; Samsung. Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years. For instance,
- Philips bought Biotelemetry Inc., a prominent supplier of remote cardiac diagnosis and monitoring services in the United States, in February 2021.
- The Dedalus Group announced a deal to buy DXC Technology's healthcare software solutions segment in May 2020.
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