mHealth Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 - 2027

Published Date : Nov 2020 | No. of Pages : 250 Pages | Category : Healthcare

The global mHealth market size is expected to be worth around US$ 316.8 billion by 2027, according to a new report by Vision Research Reports.

The global mHealth market size was valued at US$ 40.7 billion in 2019 and is anticipated to grow at a CAGR of 29.2% during forecast period 2020 to 2027.

The increasing prevalence of chronic diseases such as diabetes, cardiovascular disorders, obesity, and the rising adoption of digital health technology are some of the key factors promoting the growth of mobile health solutions. Technological advancements leading to product innovations such as advanced wearable devices and apps in the area of mHealth is expected to boost the revenue growth of the market.

Growing subscription to mHealth apps by consumers due to the increasing adoption of preventive healthcare is another factor driving the market. Another key factor supporting the demand for these apps among consumers is their growing inclination toward mobile health apps as they offer accessibility to health-related information and ensure real-time communication between patients and healthcare providers that enable providers to easily diagnose, prescribe, and monitor their patients without personal appointments.

Moreover, the increase in penetration of mobile internet users, coupled with the rising adoption of smartphones among the adult population with a subscription to mobile health apps, is expected to drive the market growth during the forecast period. According to research published in NCBI in August 2018, around 95.0% of the adult population in the U.S. possessed a mobile phone, with 64.0% of them owning smartphones. About 45.0% of these smartphone owners were reported to use some type of health app in the U.S., with 78.0% reporting the use of fitness apps, 37.0% using diet tracking apps, and 25.0% using apps for weight management. Thus, the increase in smartphone ownership among adults has created lucrative opportunities for mHealth applications.

Report Highlights

The growing trend of preventive healthcare and the rise in funding for mHealth start-ups also drive market growth. With the establishment of various digital start-ups, mobile healthcare applications are gaining traction in the healthcare industry. Moreover, the rise in adoption of mHealth is attributed to factors such as increased penetration of smartphones, high internet usage, and easy availability of mHealth apps. Additionally, recent advancements in wearable technologies and the increasing prevalence of chronic diseases, mainly cardiovascular disorders and diabetes, are significantly contributing to the segment growth. Apart from technological advancements, a sustainable business model and strategic alliances are the two most indispensable aspects for companies to create structured revenue channels. However, factors such as data security concerns and poor network coverage can hamper the growth of the market.

mHealth apps are expected to witness a lucrative growth rate over the forecast period owing to high consumer demand. An increase in the adoption of wearables among patients and the health-conscious population will also impact the market positively. It has been observed that a majority of digital healthcare start-ups followed the B2C business model, which enables faster penetration as compared to multi-stakeholder systems in the primary healthcare industry.

In 2019, monitoring services held the largest market share of 62.6% in 2019 and is expected to register a significant growth rate over the forecast period. An increase in the number of market players investing in mhealth services for patient monitoring, diagnosis, and prevention is expected to propel the growth of the services segment. Growing demand for workflow efficiency and effective healthcare administration are some of the key factors anticipated to boost the market for mHealth services in the coming years.

However, the diagnosis services segment is expected to register the highest growth rate over the forecast period as mHealth services for diagnosis allow healthcare professionals to connect with patients in remote locations and help diagnose health-related conditions. Mobile health services in patient diagnosis involve IVR-based services, mobile telemedicine, and call center services. With the growing penetration of cloud computing and cognitive technologies, mobile technologies in clinical diagnosis are becoming increasingly accessible across the globe.

In 2019, mHealth apps emerged as the key component segment, mainly owing to the growing adoption of smartphones by consumers. Mobile network operators view mHealth apps as a beneficial opportunity for investment with the growing adoption of smartphones and rising awareness about health, nutrition, and diet.

Wearables is expected to emerge at a steady CAGR of 25.6% over the forecast period. Mobile phone integration, wireless connection, and long battery life are among the key features that users seek in a wearable device. Rapid advancements in the features of these mHealth wearables play a significant role in driving the segment growth.

In 2019, mobile operators accounted for the largest market share and this trend is expected to continue through the forecast period. An increase in the number of mobile subscribers across the globe creates growth opportunities for mobile operators.

The healthcare providers segment is expected to grow at the fastest rate over the forecast period owing to the increasing adoption of digital technology in healthcare facilities with rising healthcare expenditure. These technologies are bridging the gap between doctors and patients effectively, which in turn is expected to drive the adoption of mHealth services among healthcare providers practicing in remote areas.

In 2019, Asia Pacific led the market with the highest share of 45.0% owing to the increasing use of mHealth intervention for healthcare needs. Countries such as Singapore, Australia, and South Korea exhibit significant potential owing to their developed healthcare IT infrastructure and growing investments in digital health sectors. The rising geriatric population in countries such as China and Japan and the growing burden of chronic conditions also drive the demand for mHealth technologies in the region.

North America accounted for the second-largest share in the market for mHealth solutions in 2019 owing to the presence of key market participants, high adoption of digital technologies, and rising awareness about connected care. High penetration of the internet and smartphones in the region, along with the usage of medical/health-related apps, is one of the key factors responsible for its market share.

Key Players

Apple Inc.; AT&T Inc.; AirStrip Technologies; Allscripts Healthcare Solutions; Google Inc.; and SoftServe. 

Market Segmentation

mHealth Component Outlook 

  • Wearables

    • BP Monitors

    • Glucose Meters

    • Pulse Oximeters

    • Sleep Apnea Monitors (PSG)

    • Neurological Monitors

    • Activity Trackers/ Actigraphs

  • mHealth Apps

    • Medical Apps

      • Women's Health

      • Personal Health Record Apps

      • Medication Management Apps

      • Chronic Disease Management Apps

      • Diagnostic Apps

      • Remote Monitoring Apps

      • Others

    • Fitness Apps

      • Exercise & Weight Loss

      • Diet & Nutrition

      • Activity Tracking

mHealth Services Outlook 

  • Monitoring Services

    • Independent Aging Solutions

    • Chronic Disease Management & Post-acute Care Services

  • Diagnosis Services

  • Healthcare Systems Strengthening Services

  • Others

mHealth Participant Outlook 

  • Mobile Operators

  • Device Vendors

  • Content Players

  • Healthcare Providers

mHealth Regional Outlook 

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Spain

    • France

    • Italy

    • Russia

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Singapore

    • Australia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • UAE

The mHealth market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of mHealth market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global mHealth market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the mHealth market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted mHealth market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the mHealth capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of mHealth by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global mHealth market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major mHealth market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of mHealth market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the mHealth industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The mHealth market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to mHealth market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of mHealth market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new mHealth market. These factors have benefited the growth of the global market for mHealth. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for mHealth. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of mHealth are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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