The global Mhealth Market is valued at USD 57.2 Billion in 2022 and is projected to reach a value of USD 125.2 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 10.23% between 2023 and 2030.
According to Becker's Healthcare, the Mhealth market has seen substantial development and investment, with 251 digital health investment deals registered during the first three quarters of 2022. Due to its success in enhancing public health, mobile health platforms have been adopted more quickly as a result of the COVID-19 pandemic. According to a digital health journal, the majority of respondents felt that apps that may remotely access electronic medical records help follow medical treatment and keep a healthy lifestyle. The Mhealth market is anticipated to grow as a result of this encouraging response, good government policies, and partnerships between businesses and healthcare facilities. For example, Philips and the American Telemedicine Association (ATA) worked together to improve the introduction and use of telehealth services. Research by the New Brunswick Health Council (NBHC) found that 32% of Canadians use mobile health apps, making them widely used in the country. The survey also showed that those with university degrees, jobs, and younger persons all had higher usage rates. Notably, despite the influence of money and chronic illness on adoption, only 24% of Canadians reported using smart-linked devices for tracking their health. Wearing medical bracelets for emergency alerts and other purposes is becoming more popular in Europe, where seniors make up around 22% of the population. This development could help the Mhealth market's overall revenue growth. The global Mhealth industry is anticipated to have considerable growth during the forecast period due to the increasing prevalence of chronic diseases worldwide and the growing elderly population. By 2050, the United Nations predicts that there will be about 2 billion elderly people worldwide. To meet the healthcare needs of an aging population, this demographic transition emphasizes the need for cutting-edge healthcare solutions, particularly Mhealth apps.
Mhealth Market Size, 2022 To 2030 (USD Billion)
- North America generated more than 40.30% of revenue share in 2022,
- Asia Pacific is expected to expand at the fastest CAGR from 2023 to 2030,
- Based on Product & Services, the M Health Services segment contributed more than 33% of revenue share in 2022,
- Based on End users, the Healthcare Provider segment recorded the most significant market share in 2022,
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The Mhealth market provides Significant economic insights including its size and growth potential, the possibility for cost savings and improved healthcare delivery efficiency, and enhanced access to healthcare services. Mhealth presents potential for businesses in the technology, app development, and healthcare sectors due to the rising popularity of smartphones and developments in wireless technology. Governments in developed countries like Europe have a goal of Building healthcare IT infrastructure at every level (e.g., integrating healthcare data to EH or EMR) for effective control and measures. The government has implemented several measures in underdeveloped economies like Africa, such as providing walk-in mobile telemedicine centers in remote areas and promoting preventative and awareness messages. Health programs can be of great assistance in providing healthcare services to low-income, rural, and remote communities with few healthcare professionals.
Top Market Trends
- Rapid Development and Adoption: The Mhealth market is expanding quickly and being widely embraced all around the world. The proliferation of smartphones and improvements in wireless technology have sparked a rise in the use of wearable technology and Mhealth apps. The desire for proactive health management, remote patient monitoring, and the rising demand for quick and accessible healthcare services are the trends driving this development.
- Focus on Chronic Disease Management: The cost of treating chronic illnesses including diabetes, cardiovascular disease, and respiratory problems places a heavy load on healthcare systems around the world. By providing remote patient monitoring options, medication management tools, and individualized care plans, Mhealth technologies are significantly addressing this problem.
- Artificial Intelligence and Data Analytics: The Mhealth market is changing as a result of the integration of artificial intelligence (AI) and data analytics. Numerous patient data sources, such as medical records, wearables, and lifestyle data, can be analyzed by AI-powered algorithms to produce individualized insights and suggestions for both patients and healthcare professionals. Additionally, population health management, spotting health trends, and anticipating disease outbreaks are all made easier by data analytics, which results in more proactive and effective healthcare delivery.
- Telemedicine and virtual care have seen a major increase in use as a result of the COVID-19 outbreak. It has become essential to be able to offer remote consultations, diagnoses, and treatments to maintain continuity of care and reduce the danger of virus transmission. Secure video consultations, remote monitoring, and other Mhealth services are made possible by telemedicine platforms.
The Global M Health market can be categorized into the following: Product & Service, End User, and Region.
Based on Product & Service, the market is segmented into Mhealth Apps, Connected Medical devices, and Mhealth Services. Furthermore, based on the End-User, Mhealth market has been segmented into Healthcare Providers, Healthcare Payers, Patients/Consumers, and Other End Users. Likewise, the market is segmented based on Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on product & Services
Mhealth Services hold the largest share
Based on Products and Services, Health Services dominate the industry. The extensive range of services provided, such as remote patient monitoring, telemedicine consultations, illness management, medication adherence, and health coaching, can be credited for this domination. With the help of Mhealth services, people can contact medical professionals remotely and receive individualized care. These services offer practical and accessible healthcare solutions. Due to the rising incidence of chronic diseases, the need for remote healthcare during the COVID-19 pandemic, and the growing emphasis on proactive health management, the demand for these services has increased. Due to their increasing importance in the healthcare ecosystem, Mhealth services are what is causing the Mhealth market to expand and have an impact.
Based on the End User
Healthcare Providers will dominate the market during Forecast Period
Based on end-user analysis, healthcare providers are anticipated to lead the Mhealth market throughout the projection period. The growing use of Mhealth solutions by healthcare organizations and professionals is what is causing this domination. Healthcare practitioners can gain a lot from Mhealth technologies, including increased care coordination, telemedicine consultations, faster patient communication, remote patient monitoring, and effective data management. These tools help healthcare providers improve clinical decision-making, streamline workflows, and provide more accessible, patient-focused care. Healthcare providers are anticipated to continue driving the market's growth and innovation in the upcoming years due to the increased understanding of the usefulness of Mhealth in enhancing healthcare delivery and results.
Based on Region
North America accounted for the most significant Revenue
The M Health market was led by the North American region, which also contributed to significant revenue. This domination can be ascribed to several things, such as improved healthcare infrastructure, high smartphone adoption, supportive governmental initiatives, and the growing use of digital health technologies. Significant investments have been made in Mhealth businesses in the area, and tech firms and healthcare providers have collaborated. Further strengthening the market in North America, the COVID-19 epidemic has boosted the implementation of telemedicine and remote patient monitoring. Shortly, North America is anticipated to keep its top spot in terms of revenue generation in the Mhealth industry thanks to a strong focus on healthcare innovation and a favorable regulatory framework.
The global M Health market is fragmented, with established players and large technology companies that have made significant strides in the Mhealth space, there is also a large number of emerging startups and smaller companies introducing innovative solutions. Major industry companies are investing a lot of money in R&D to broaden their product offerings, which will spur further expansion of the health sector. With significant industry changes like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking a variety of strategic activities to expand their global footprint. To grow and survive in an environment where competition is fierce and the market is growing, competitors in the health sector must offer affordable products. For instance, In 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.
The key players in the global M Health market include AT&T (U.S.), Samsung Electronics Co. (South Korea), Allscripts Healthcare Solutions (U.S.), Apple Inc. (U.S.), Orange (France), mQure, Qualcomm Technologies Inc. (U.S.), SoftServe (U.S.), Google Inc. (U.S.), Airstrip Technologies Inc. (U.S.), Telefonica S.A. (Spain), Vodafone Group (UK) among others.
Recent Market Developments
- February 2023: Vodafone (UK) collaborated with Charité Berlin (one of Europe’s largest university hospitals), Leipzig University Hospital, and 16 other leading research and medical experts across Germany to explore future medical applications using 6G.
- January 2023: Koninklijke Philips (Netherlands) partnered with Masimo (US). The partnership aimed to augment patient monitoring capabilities in home telehealth applications with the Masimo W1 advanced health-tracking watch.
- January 2023: Garmin (US) launched Instinct Crossover in India, which delivers Garmin's full suite of wellness features, including Sleep Score and Advanced Sleep Monitoring, and Health Monitoring activities.
Segmentation of the Global Market
- Product & Service (mHealth App, Connected Medical Device, mHealth Services)
- End User (Healthcare Provider, Healthcare Payer, Patients/Consumer, Other End User)
- Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
|Regions & Countries Covered
- North America - (U.S., Canada, Mexico)
- Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
- Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
- Latin America - (Brazil, Argentina, Rest Of Latin America)
- Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
- AT&T (U.S.)
- Samsung Electronics Co. (South Korea)
- Allscripts Healthcare Solutions (U.S.)
- Apple Inc. (U.S.)
- Orange (France)
- Qualcomm Technologies Inc. (U.S.)
- SoftServe (U.S.)
- Google Inc. (U.S.)
- Airstrip Technologies Inc. (U.S.)
- Telefonica S.A. (Spain)
- Vodafone Group (UK)
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attractiveness analysis by segments and North America, company market share analysis, and COVID-19
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