mHealth Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[220+ Pages Report] According to Facts and Factors, the global mhealth market was valued at 61.90 billion in 2022 and is predicted to surpass 168.56 billion by the end of 2030. The mhealth industry is expected to grow by a CAGR of 13.34%.

Market Overview

Mhealth refers to mobile health, where people utilize their smart devices like mobile phones, tablets, and wearable devices to connect with healthcare services. Mhealth leverages the capabilities of smart devices to offer health-associated services, education, and information. Mhealth offers diverse options of applications and services that contribute to the digitalization and transformation of healthcare.

Key Insights

• As per the analysis shared by our research analyst, the global mhealth market size is estimated to grow annually at a CAGR of around 13.34% over the forecast period (2023-2030).
• In terms of revenue, the global mhealth market size was valued at around USD 61.90 billion in 2022 and is projected to reach USD 168.56 billion by 2030.
• Increasing demand for wearable technologies is driving the growth of the global mhealth market.
• Based on the components, the wearable segment is growing at a high rate and is projected to dominate the global market.
• Based on the services, the monitoring services segment is projected to swipe the largest market share.
• Based on the participants, the mobile operator segment is likely to swipe the larger share of the market.
• Based on region, North America is expected to dominate the global market during the forecast period.

Growth Drivers

• Surging trend of remote patient monitoring is driving the growth of the global market.

There is a high need for the constant monitoring of patients with chronic conditions. As a result, it has significantly boosted the demand for remote patient monitoring solutions in the market. Mobile devices and variables play an important role in gathering real-time health data for remote monitoring.

However, the widespread adoption of mobile devices globally has helped the mhealth industry grow rapidly. The growing popularity of wearable devices like fitness trackers, smartwatches, and others is also contributing to the growth of the market. For instance, Allscripts collaborated with Sheba Medical Center to enhance its patient care service by accentuating the utilization of AI-based technologies.

Restraints

• Data security and privacy concerns are likely to hamper the growth of the global market.

The transmission, storage, and collection of health data through these smart devices are increasing the issues regarding privacy and data security. Patients and healthcare providers are hesitant to provide information on digital healthcare apps, which is likely to hinder the growth of the global mhealth market.

Opportunities

• Technological innovations are likely to foster growth opportunities in the global market.

The ongoing advancements in data analytics, artificial intelligence, and other mobile technologies are significantly fostering developments in the mhealth industry. These developments improve the usability and capabilities of mhealth solutions, thereby enhancing their efficiency. For instance, Orange came up with Future4care in June 2021. Future4care is a startup accelerator program aiming to help 150 startups innovate e-health solutions.

Challenges

• Limited digital literacy is a big challenge in the global market.

Not all people from all demographic groups are able to utilize the mhealth solutions. Also, several underserved regions face problems due to the limited accessibility to internet connectivity, smartphones, and understanding of technology. Therefore, these factors are likely to create challenges in the global mhealth market, thereby slowing down the growth of the industry.

Segmentation Analysis

The global mhealth market can be segmented into components, services, participants, and others.

By components, the market can be segmented into wearables, mhealth apps, and fitness apps. The wearables segment can further be bifurcated into activity trackers, neurological monitors, sleep app monitors, pulse oximeters, glucose meters, BP monitors, and others. The mhealth segment can further be bifurcated into medical apps and others. The mhealth app segment is likely to swipe the largest share of the mhealth industry in the coming years.

The widespread use of smartphones is offering a strong platform for mhealth apps to reach a large pool of consumers. The convenience of accessing health-associated information and services via smartphones is further propelling the popularity of these apps. The surge in telemedicine is also contributing to the high growth rate of health apps. These apps help people consult healthcare professionals remotely from anywhere in the world. It has emerged as a convenient and efficient way to access medical services and advice.

Moreover, these apps offer a diverse number of functionalities like mental health, support, virtual consultation, medication, reminders, healthcare, tracking, and fitness monitoring. Such versatility of these apps largely appeals to users with different requirements and preferences.

By services, the market can be segmented into healthcare systems, strengthening services, diagnosing services, monitoring services, and others. The monitoring services segment is poised to witness significant growth in the global mhealth market during the anticipated period. The growing prevalence of chronic diseases is posing the requirement for continuous monitoring of patients, which is the major reason behind the growth of the segment.

The ongoing advancements in sensor technology, mobile devices, and wearables further enhance the scope of the services, thereby making them more user-friendly and precise. The fast adoption of medicine and telehealth services, including remote monitoring, further boosts the need for monitoring services. These services align with the surging trend of preventive healthcare, thereby helping individuals proactively manage their health. Therefore, such a landscape is expected to foster developments in the segment in the forthcoming years.

By participants, the market can be segmented into healthcare providers, content players, devices vendors, mobile operators, and others. The mobile operator segment is anticipated to foresee huge developments during the predicted period. Advanced connectivity is a major reason for the high growth rate of this segment. The rapid deployment of 5G technology with subsequent generations improves connectivity, which attracts consumers.

Moreover, the increased network capacity, low latency, and fast speed aid in the seamless transmission of large volumes of data, thereby allowing efficient real-time monitoring in telehealth procedures, which in turn is further expected to contribute heavily towards the high growth rate of the segment.

Mobile operators are vital in the integration of the Internet of Things with medical devices, sensors, and variables. This connectivity helps in data collection, remote monitoring, and seamless interaction between the healthcare devices and the system.

Report Scope

Regional Analysis

• North America to dominate the global market.

North America accounts for the largest share of the global mhealth market, with Canada and the United States being the major contributors. The regional market is expected to foster significant growth due to the advancements in healthcare infrastructure and increasing smartphone accessibility. The widespread usage of smartphones is enabling people to adopt mobile healthcare applications for a variety of services like medication, management, health, tracking, telehealth, fitness apps, and others.

The COVID-19 pandemic has made significant changes in regional healthcare services. People are relying more than ever on remote or telehealth services. There is a rise in the trend of growing focus on digital health solutions. Both healthcare providers and patients are turning to virtual consultation for a large number of health issues. Remote monitoring solutions are more prevalent, particularly for managing chronic conditions in the region.

Also, the regulatory bodies in the regions like the US Food and Drug Administration Health and Canada Health play a vital role in monitoring the safety and efficacy of mHealth technologies. Several policies and government initiatives are encouraging people to adopt digital health solutions.

For instance, regional governments have come up with reimbursement policies for telehealth services, thereby helping the health sector grow significantly in the coming years.

Asia Pacific is among the fastest-growing markets in the mhealth industry. The region is expected to see prominent changes in the healthcare landscape largely because of growing economies like Japan, India, and China. The accessibility to the fast speed internet, smartphones, and well-equipped digital healthcare infrastructure is likely to contribute to the growth of the regional market.

Mobile health applications are gaining immense popularity in the south-east Asian countries. These apps cover a wide number of applications like medication management, fitness tracking, and health monitoring, which further attracts people in the region.

Moreover, the linguistic and cultural diversity in the region has significantly led to the development of localized health solutions made specially to cater to the particular population. Therefore, such a landscape is expected to foster significant developments in the regional market in the forthcoming years.

For instance, Cedars-Sinai launched a unique artificial intelligence-powered mobile health application in October 2023. It helps patients receive healthcare service on the same day with virtual access to medical specialists for all urgent consultations.

Competitive Analysis

The key players in the global mhealth market include:

• Allscripts Healthcare Solutions
• SoftServe
• mQure
• Qualcomm Technologies Inc.
• Vodafone Group
• Apple Inc.
• Samsung Electronics Co.
• Telefonica SA
• Airstrip Technologies Inc.
• AT&T
• Google Inc.

For instance, AirStrip Technologies, Inc. partnered with FifthEye to integrate and resell AHI System as Fifth Eye’s AHI System is FDA-approved software. This software facilitates real-time detection & prediction of hemodynamic instability.

The global mhealth market is segmented as follows:

By Components Segment Analysis

• Wearables
• mHealth Apps
• Fitness Apps

By Services Segment Analysis

• Healthcare Systems
• Strengthening Services
• Diagnosing Services
• Monitoring Services
• Others

By Participants Segment Analysis

• Healthcare Providers
• Content Players
• Devices Vendors
• Mobile Operators
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America