Global mHealth Market Size By Category (Applications, Wearables), By Services (Treatment Services, Diagnostic Services), By Service Provider (Health Insurance, Hospitals), By Geographic Scope And Forecast

mHealth Market Size And Forecast

mHealth Market size was valued at USD 49.2 Billion in 2022 and is projected to reach USD 118.4 Billion by 2030, growing at a CAGR of 10.0% from 2023 to 2030.

The rising focus on developing personal health and fitness utilizing smart devices and wearables are the major calculate quickening market growth. Moreover, expanding infiltration of the web and smartphones and the rising adoption of mHealth innovation and stages by physicians and patients are moreover expected to move market growth. Besides, the rising entrance of digital wellbeing administrations for inaccessible persistent observing is additionally expanding the demand for versatile wellbeing apps, which in turn is anticipated to propel market growth over the forecast years. The Global mHealth Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global mHealth Market Definition

The practice of medicine and public health facilitated by mobile devices is referred to as mHealth. It is an eHealth sub-segment that employs information and communication technologies to carry out various duties. The use of mobile telecommunications and multimedia technology in health care delivery is extensively defined in this subject. The use of mobile devices to collect community and clinical health data, as well as the delivery/sharing of healthcare information for practitioners, researchers, and patients, are examples of mHealth applications. It is also employed in real-time monitoring of patient vital signs, direct care delivery, and health staff training and cooperation. mHealth enables more access to healthcare, enhanced illness diagnosis and tracking, and simple access to public health information.

Global mHealth Market Overview

The rise in the number of users of smartphones and other wireless technology devices acts as a driving factor for his market. Many people own more than one smartphone, cell phone, or tablet. The growing use age of smartphones will allow the population to access several healthcare-related services through wireless multimedia.

In addition, rising awareness among individuals to utilize portable health solutions and supportive government initiatives to present and promote inaccessible digital healthcare are a few of the variables anticipated to boost market growth over the years. In expansion, the expanding utilization of smartphones among the grown-up populace and teenagers is additionally expected to drive the growth of mHealth platforms and advances within the upcoming years. Besides, the move in trend from conventional healthcare practices to patient-centric and preventive approaches is also anticipated to drive the market for mHealth over a long time. The high preference for versatile therapeutic stages and the positive attitude of healthcare experts toward real-time persistent care are also likely to accelerate the development of the market during the estimated years.

Increasing demand for home-based remote patient monitoring services for senior citizens also contributes to the overall market growth of this segment. The rise in the number of firms entering the mHealth industry is adding fuel to the market demand during the forecasted period. The development of innovative products and the induction of innovative technology escalate the market growth for the forecasted period.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global mHealth Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in theGlobal mHealth Market, gauge the attractiveness of a certain sector and assess investment possibilities.

Global mHealth MarketSegmentation Analysis

The Global mHealth Market is Segmented on the basis of Category, Services, Service Provider, And Geography.

mHealth Market, By Category

• Applications
• Wearables

Based on Category, The market is segmented into Applications and Wearables. mHealth Market has a variety of apps to offer that serve various purposes like medication reminders, women’s health, pregnancy, insurance, and others. There are also disease-specific apps that are designed to cater to a specific diagnosis of a patient. mHealth applications also include wellness management verticals which comprise fitness tracker apps, lifestyle apps, and stress-minimizing applications. The wearable category offers physical tools like body and temperature monitors, sleep trackers, fitness trackers, glucose monitors, blood pressure monitors, and cardiac monitors which monitor and review the performance of a diagnosed patient.

mHealth Market, By Services

• Treatment Services
• Diagnostic Services
• Fitness and Wellness Solutions
• Monitoring Services
• Others

Based on Services, The market is segmented into Treatment Services, Diagnostic Services, Fitness and Wellness Solutions, Monitoring Services, and Others. Treatment services like booking an appointment with a specialist for regular consultation and issuing a prescription can be achieved through mHealth. Diagnostic services which monitor the sugar content are some of the diagnostic services of mHealth. It also offers fitness and wellness solutions like meditation applications and fitness tracker applications which monitor calorie burnout and the number of steps traveled in a day by a user. Monitoring services include keeping a track of general reports which accumulate medical data like blood pressure reports for different periods.

mHealth Market, By Service Provider

• Health Insurance
• Hospitals
• Pharmaceutical Companies
• mHealth Application Companies
• Others

Based on Service Provider, The market is segmented into Health Insurance, Hospitals, Pharmaceutical Companies, mHealth Application Companies, and Others. Health insurance firms provide mHealth solutions to their clients to provide medical assistance and comfort. Clients can track their medical performance which plays a vital role in claiming the insurance amount in the future. Hospitals require regular blood pressure reports and require to monitor the patient’s recovery status. mHealth allows tracking and submitting such reports to the designated doctors for monitoring and review. Pharmaceutical companies improve upon medication adherence and increase medication reconciliation accuracy by using mHealth applications. mHealth application companies offer these applications to the general public for use and allow them to store their medical data on these applications for future reference.

mHealth Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Geography, The Global mHealth Market is classified into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America leads the mHealth Market and will account for the greatest revenue share in 2022 because too many reasons such as increased healthcare spending, increasing prevalence of chronic diseases, an aging population, and well-developed network infrastructure. Furthermore, favorable government efforts and the increased usage of mobile healthcare apps are fuelling the region’s need for mHealth services. Furthermore, the region’s expanding incidence of cardiovascular illnesses is pushing the demand for real-time monitoring. The availability of mHealth apps that may offer real-time information about cardiovascular health can help to avert significant health problems and lower the fatality rate from sudden cardiac arrest.

Key Players

The “Global mHealth Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Omron Healthcare Inc, Boston Scientific Corporation, AT&T, Livongo Health, BioTelementry Inc, Omada Health Inc, Jawbone Health Hub Inc, DEXCOM, Apple Inc, and Fitbit Inc. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• November 8, 2022 – OMRON Healthcare, Co., Ltd., announced a partnership with CardioSignal aimed at bringing innovations in early cardiovascular disease detection to support clinicians at the forefront of Population Health management.
• May 19, 2020, As an increasing number of patients, turn to remote care, Omada Health announced the acquisition of Physera, a leading musculoskeletal care company that delivers interventions digitally and via telehealth. The offering includes video access to a nationwide network of licensed physical therapists for diagnosis and treatment, as well as in-application animations, voice prompts, digital exercise therapy, and other guidance designed to reduce musculoskeletal pain.
• March 12, 2019, Omada Health announced the inclusion and integration of FDA-cleared, cellular-connected blood pressure monitors and glucometers for qualifying participants in the company’s chronic condition management program. The integration of these devices will enable individuals to seamlessly upload real-time readings to their Omada account while providing Omada coaches insight to deliver personalized guidance and ongoing support as participants work to improve their health.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

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