mHealth Market

mHealth Market Statistics Report:

The mHealth market size was valued at $ 46,048 million in 2019, and is projected to reach $ 230,419 million by 2027, registering a CAGR of 22.3% from 2020 to 2027. 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.

Demand in the mHealth market is increasing due to the increasing number of COVID-19 cases around the world. By continuing to have social interactions, digital health services are becoming increasingly popular during Covid-19 disease. In other words, the mHealth market share of mobile phones is looking at COVID-19 and it will increase. The highest percentage is seen in 2019, as well as the size of the entire mHealth sector. Digital health professionals make it possible to collect disease surveillance software by bringing Corona surveillance software to market

The expansion of remote patient monitoring, analysis and analysis of patient data are some of the factors that drive the spread of mobile health technology. The introduction of mHealth systems and technologies sparked the outbreak. About 90% of other health programs are downloaded in India during the peak months of the disease.

The major factors that contribute toward the growth of the mHealth market include rise in prevalence of lifestyle disorders, integration of wireless technologies with portable healthcare devices, technological innovations, and favorable government initiatives. Moreover, affordability of smartphones and rise in adoption of mHealth among medical professionals boost mobile health market growth.

However, weak reimbursement coverage associated with mHealth and lack of technological awareness among the aging population hinder the growth of the market. Conversely, lucrative growth potential offered by untapped markets of the developing economies offer lucrative opportunity for the mHealth market growth.

Global Mhealth Market Segmentation

The global mHealth market is segmented on the basis of device, service, stakeholder, application, and region to provide a detailed assessment of the market. By device, the market is divided into blood glucose meter, BP monitors, pulse oximetry, neurological monitors, cardiac monitors, apnea & sleep monitors, wearable fitness sensor device & heart rate meters, and others. By service, it is classified into prevention, diagnostic services, monitoring services, treatment, and wellness & healthcare system strengthening solutions. By stakeholder, it is divided into mobile operators, device vendors, healthcare providers, and Application & Content Players. By application, it is categorized into cardiovascular diseases, diabetes, respiratory diseases, neurology diseases, and others. By region, the mHealth market size is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Russia, and rest of Europe), Asia-Pacific (Japan, China, India, Australia, and rest of Asia-Pacific), and Middle East (Saudi Arabia, Kuwait, UAE, Qatar, Bahrain, Oman, rest of Middle East), and Latin America & Africa.

Segment Review

On the basis of device, the market is divided into blood glucose meter, BP monitors, pulse oximetry, neurological monitors, cardiac monitors, apnea & sleep monitors, wearable fitness sensor device & heart rate meters, and others. In addition, the BP monitors segment held the major mHealth market share in 2019, owing to the factors such as surge in incidence of hypertension, which leads to high blood pressure, and rise in adoption of sedentary lifestyle. However, blood glucose meters segment is estimated to be the fastest growing segment in the global mHealth devices market due to rise in prevalence of diabetes and surge in adoption of continuous blood glucose monitoring (CGM) devices.

By service, the monitoring services segment occupied the largest mobile health market share in 2019 and is also expected to exhibit fastest growth rate during the forecast period. The growth of the segment is due to factors such as rise in prevalence of disorders, which include blood pressure, diabetes, and cardiovascular diseases and require monitoring of the condition of the patient for prevention and better treatment.

In 2019, North America accounted for the major share of mobile health market size and is expected to continue this trend owing to rise in prevalence of diabetes, blood pressure, cardiovascular diseases, and others. Moreover, other factors such as easy availability of mHealth devices and services, and surge in adoption of these devices boost the market growth in this region. Asia-Pacific is expected to exhibit fastest growth rate owing to surge in awareness related to use of mHealth devices. The other factors that boost the growth of the mHealth market include huge patient base of diabetes and rise in healthcare expenditure in the region. The developing economies offer lucrative opportunities for mHealth providers to expand their business.

The global mHealth market is highly competitive, and prominent players have adopted various strategies for garnering maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the mHealth market include Bayer Healthcare., Boston Scientific Corporation, Dexcom, Inc., Johnson & Johnson, Koninklijke Philips N.V., Masimo Corporation, Medtronic plc, Omron Corporation, Samsung Group, and Sanofi.

Key Benefits For Stakeholders

• This report entails a detailed quantitative analysis along with the current global mHealth market trends from 2020 to 2027 to identify the prevailing opportunities along with the strategic assessment.
• The mHealth market forecast is studied from 2020 to 2027.
• The mHealth market size and estimations are based on a comprehensive analysis of key developments in the mHealth industry.
• A qualitative analysis based on innovative products facilitates strategic business planning.
• The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the mHealth market

 mHealth Market Report Highlights