Key Market Overview:
mHealth Market size was worth USD 50.8 Billion in 2021, accounting for a CAGR of 11.3% during the forecast period (2022-2030), and the market is projected to be worth USD 133.1 Billion by 2030.
The mHealth, or mobile health, refers to the usage of mobile technologies and devices to enhance health outcomes and healthcare delivery. This promptly growing field leverages the widespread use of smartphones, wearable devices, and telemedicine to provide convenient, accessible, and cost-effective healthcare solutions. mHealth solutions range from simple health and wellness apps to more complex telemedicine systems, allowing patients to monitor their health and communicate with healthcare providers remotely.
Furthermore, mHealth presents significant opportunities for healthcare organizations and companies to improve patient outcomes, increase efficiency, and decrease costs. By adopting mHealth technologies, healthcare organizations can improve access to care, particularly in remote areas, and provide patients with a more convenient and personalized experience. The mHealth also offers significant opportunities for data collection and analysis, allowing healthcare organizations to make informed decisions based on real-time data.
Market Dynamics
Drivers
The proliferation of smartphone usage has generated significant market growth for mobile health (mHealth) solutions. These solutions enable patients to effortlessly access healthcare information, monitor chronic illnesses, and communicate with their healthcare providers via their mobile devices. With the rising patient demand for convenient healthcare experiences, mHealth offers a solution allowing patients to receive care at their convenience. Furthermore, the surging incidence of chronic diseases, such as diabetes and heart disease propels the demand for mHealth that can assist patients in managing these conditions. Therefore, the above-mentioned factors propel the growth of the mHealth market.
Restraint
The sensitive nature of the patient information collected, stored, and transmitted through mHealth solutions, including medical history and personal health information, creates concerns over confidentiality and unauthorized access hamper the growth of the market, as patients are hesitant to use these solutions due to fears of breaches and privacy violations.
Opportunities
The development of pre-cancer screening phone attachments will create lucrative opportunities in the market. The Oscan team at Stanford University has identified a critical need for oral cancer screening in regions with high tobacco consumption and limited access to affordable dental care. In order to address such issues, they have developed a cutting-edge screening tool that can be attached to a camera phone, allowing rural health workers to conduct oral lesion screenings. The screening results can then be transmitted to dentists and oral surgeons for prompt assessment, offering an innovative solution for the early detection and prevention of oral cancer. The Oscan project has received significant support, including grants from Stanford, Vodafone Americas Foundation, and previous funding from the mHealth Alliance, and is currently undergoing field testing.
mHealth Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2016-2030 |
| Market Size in 2030 (USD Billion) | 133.1 Billion |
| CAGR (2022-2030) | 11.3% |
| By Product and Service | mHealth Apps (Health Management Apps (Fitness, Lifestyle Changes, Medication Reminders, Wellness Management, Diet & Nutrition, and Others), Disease Management Apps (Mental Health, Diabetes, Cardiovascular Disease, Women’s Health and Pregnancy, and Others), and Connected Medical Devices (Glucose and Blood Pressure Monitor, Peak Flow Meter, Pulse Oximeter, ECG/Heart Rate Monitor, Sleep Apnea Monitor, Neurological Monitoring Devices, Fitness Devices, and Others) |
| By Service Type | Remote Monitoring and Consultation |
| By Region | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
| Key Players | Telefónica S.A., AT&T (TheoremOne, LLC), SoftServe, Inc., AirStrip Technologies, Inc., Google, Inc., (Alphabet Inc.), Samsung Electronics Co. Ltd., Allscripts Healthcare, LLC, Qualcomm Technologies, Inc., Omron Healthcare Co. Ltd. (Omron Corporation), and Masimo Corporation |
Market Segmentation:
By Product and Service
Based on product and service, the mHealth market is bifurcated into connected medical devices and mHealth apps. The mHealth apps segment holds the largest market share, due to the wide adoption of smartphones and the increase in the growing demand for accessible and convenient healthcare solutions. mHealth apps segment is further classified into health management apps and disease management apps. The mHealth apps offer a varied range of services, from simple health tracking to complex telemedicine services, and are widely available to consumers, making them a popular choice for managing health and wellness. Additionally, mHealth apps are often less expensive than connected medical devices, making them a more accessible solution for many consumers. However, the connected device is expected to grow with the fastest CAGR over the forecast period, owing to its ability to provide real-time patient data, enhance remote monitoring and disease management, and improve patient outcomes. The increasing prevalence of chronic conditions and demand for convenient and cost-effective healthcare solutions are factors making it the fastest-growing segment.
By Service Type
Based on the service type, the market is categorized into remote monitoring and consultation. The remote monitoring segment dominates the market with the largest market share, due to the increase in the adoption of connected medical devices, such as glucose monitors, blood pressure monitors, and fitness trackers, as well as the growing demand for remote monitoring and disease management solutions. However, the consultation segment in the mHealth market is predicted to experience rapid growth over the forecast. This is due to the convenient and accessible healthcare services provided by mHealth through the use of mobile technology and telecommunication tools such as smartphones, tablets, and telemedicine platforms. Patients in remote areas can now receive consultation from healthcare professionals without the need to travel, while also reducing the burden on healthcare facilities. These factors contribute to the increasing adoption of mHealth consultation services, making it the fastest-growing segment in the market.
By Region
Based on region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America holds the largest market share, due to the presence of a huge and advanced healthcare sector, favorable government regulations, and high technology adoption. The U.S. is the largest market for mHealth in North America, with enormous investments in technology. The region has a well-established telemedicine infrastructure, which propels the growth of the mHealth market. However, Asia Pacific is the fastest-growing region over the forecast period, due to the rapid increase in smartphone usage and increasing adoption of mobile health technologies in emerging nations such as China and India.
mHealth Market Competitive Landscape:
The market is highly competitive, with a large number of players operating at the global and regional levels. The players compete on various parameters such as price, quality, innovation, and customer service. They are constantly investing in research and development to improve their products and expand their market share. Mergers, acquisitions, and partnerships are also common strategies employed by companies to enhance their market position and expand their product portfolio. Key players in the market include-
- Telefónica S.A.
- AT&T (TheoremOne, LLC)
- SoftServe, Inc.
- AirStrip Technologies, Inc.
- Google, Inc., (Alphabet Inc.)
- Samsung Electronics Co. Ltd.
- Allscripts Healthcare, LLC
- Qualcomm Technologies, Inc.
- Omron Healthcare Co. Ltd. (Omron Corporation)
- Masimo Corporation
Recent developments
- In August 2020, Livongo and Teladoc Health Inc completed their merger agreement to bring together their expertise in the virtual healthcare space. The goal of the collaboration was to improve the user experience for patients with chronic conditions by offering user-friendly programs that would provide treatment through virtual channels. This merger represents a significant step towards delivering better outcomes and a more seamless experience for patients seeking virtual care.
- In July 2021, Google Cloud and AT&T entered into a partnership to create 5G edge computing solutions. The advanced telecommunications systems brought about by 5G technology have enabled the development of cutting-edge apps that support patient treatment and management. This collaboration between Google Cloud and AT&T is poised to drive innovation and deliver improved outcomes for patients through advanced technology solutions.
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