mHealth Market Key Players, Size, Share, Demands, Trends, Growth Rate and Forecasts to 2030
Research Reports
May 20, 2024
mHealth Market Research Report Information, By Therapeutics (respiratory, mental and neurological disorders, fitness & lifestyle) Application (monitoring, diagnosis & treatment, wellness & prevention) – Forecast to 2030
Mobile Health (mHealth) has evolved as a transformative force in healthcare, leveraging mobile technologies to deliver healthcare services and information. mHealth encompasses a wide range of applications, including mobile apps, wearable devices, and telehealth solutions, with the aim of improving healthcare accessibility, efficiency, and patient outcomes.
The mHealth market has experienced substantial growth, driven by the proliferation of smartphones, increasing internet connectivity, and the demand for personalized and convenient healthcare solutions. Mobile apps cater to diverse health needs, providing tools for fitness tracking medical, medication adherence, chronic disease management, mental health support, and remote patient monitoring. Wearable devices, such as fitness trackers and smartwatches, contribute to the continuous monitoring of vital signs and health metrics.
Telehealth, a key component of mHealth, facilitates remote consultations, telemedicine, and virtual care, addressing geographical barriers and improving healthcare access, especially in underserved or remote areas. The COVID-19 pandemic further accelerated the adoption of telehealth, highlighting its role in ensuring continuity of care.
The economic value of the mHealth market is substantial, reflecting investments in technology development, digital health startups, and collaborations between healthcare providers and technology companies. The market’s growth is fueled by ongoing advancements in artificial intelligence, data analytics, and interoperability, enhancing the capabilities of mHealth solutions.
Challenges in mHealth include ensuring data security, regulatory compliance, and addressing disparities in access to technology. However, the continuous evolution of mHealth technologies and increased integration into mainstream healthcare systems underscore its potential to revolutionize healthcare delivery, empower patients, and contribute to preventive and personalized medicine.
As per Market Research Future (MRFR) analysis, the global mHealth market report is estimated to grow at 11.30% CAGR from 2023-2030 (forecast period).
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Market Dynamics
The mHealth market is one of the fastest-growing industries attributable to the changing dynamics of the legal and regulatory process and the intense competition between a wide number of public companies. mHealth is also one of the most modernized trends in the healthcare sector that has shown massive progress in recent years. This trend is observed due to the growing number of personal health devices that can be easily worn or used with a tablet or smartphone.
The numerous factors that affect the growth of the mHealth market are the involvement of patients in personal healthcare, the introduction of smartphones and wearable devices in the healthcare sector, the convergence of wireless technology with portable healthcare devices, the advantages of cost-effectiveness and patient’s convenience, and a rise in lifestyle diseases.
However, inadequate mHealth-related reimbursement coverage and lack of technical knowledge among the aging population can impede the growth of the market. Conversely, the lucrative growth potential offered by untapped developing-economy markets provides a profitable opportunity for healthy market growth.
Key Players
Some of the significant participants in the global mHealth market players are Agamatrix, INC, Apple, INC, Alivecor, INC, Athenahealth INC, Google INC, AT&T, INC, Biotelemetry INC. (CARDIONET), GE Healthcare, Jawbone INC, Johnson & Johnson, Laboratory Corporation of America Holdings, Philips Healthcare, and others.
Segmentation
The global mHealth market has been segmented based on therapeutics and application.
Basis on therapeutics, the global market for mHealth has been segmented into diabetes, respiratory, mental and neurological disorders, fitness & lifestyle therapeutics, and others.
Based on the application, the global market for mHealth has been segmented into monitoring applications, education and awareness, healthcare management, diagnosis & treatment, wellness & prevention, and remote data collection.
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Market Dynamics
Regionally, the global mHealth market has been segmented into the Americas, Europe, and the Asia Pacific.
The Americas is the leading region for mHealth due to the presence of key market players, the high level of adoption of emerging technology, an increased understanding of connected care. The intense penetration of the Internet and smartphones in the region and the usage of medical/health-related apps is one of the main factors responsible for its market share.
The Asia Pacific is the second-largest region for mHealth. Factors that fuel the growth of the mHealth market include a broad patient base for diabetes and a rise in health care spending in the region. Developing economies present lucrative incentives for mHealth providers to grow their businesses.
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