The global MHealth market size is expected to be worth around US$ 180.5 billion by 2030, according to a new report by Vision Research Reports.
The global MHealth market size was valued at US$ 45.7 billion in 2020 and is anticipated to grow at a CAGR of 17.6% during forecast period 2021 to 2030.
Growing penetration of smartphones & internet connectivity, rising adoption of mHealth platforms and technologies by patients and physicians, and supportive government initiatives are among the key factors driving the market growth. Rising demand for preventive healthcare and increasing funding for the mHealth startups are also projected to propel the market growth.
In addition, the Covid-19 pandemic has led to increased utilization of mHealth technologies due to increased adoption of remote patient monitoring and diagnosis & analysis of patient data. For instance, according to data published by Statista, the number of medical apps downloaded during the peak months of the pandemic as compared to the number of downloads in January 2020 demonstrated a considerable spike. In India, in particular, there was around a 90% increase in the medical apps' downloads during the peak months of the pandemic.
Based on participants, mobile operators accounted for the highest revenue share in the market owing to improvements in the network infrastructure, increase in the use of 4G & 3G technologies, and rise in the number of mobile subscribers. A rise in the number of industry partnerships is another significant factor driving the segment growth. For instance, in 2019, OneLife, a mobile medical software company, partnered with AT&T for the development of a health-tracking watch to monitor a patient’s heart rate, location, sleep, and movement.
The mHealth apps component segment dominated the market with a share of over 87% in 2020. This high share is attributed to the increased penetration of smartphones & the internet and high awareness levels about mHealth among healthcare professionals. The segment will expand further at the fastest CAGR from 2021 to 2028 due to the growing adoption and visibility of.
In addition, these apps help improve the treatment outcomes or results and lifestyle, along with reducing the incidence of chronic diseases and other healthcare conditions. Furthermore, these apps help access the health information and enhance patient experience & engagement. This, in turn, helps build a smooth physician-patient interface that ensures transparency in the diagnosis and treatment process.
The monitoring services segment accounted for the highest revenue share of 62.3% in 2020 owing to an increased incidence of chronic diseases and demand for remote monitoring systems in post-acute care and independent aging solutions. Furthermore, there has been an increase in the number of market players investing in mHealth services for patient monitoring, which is expected to propel the growth of this segment.
The others' segment is expected to register the fastest CAGR over the forecast period. Other services include ensuring the wellness of patients and prevention of diseases through various mobile health applications. Rising health-consciousness and a growing number of fitness apps are the key factors driving the demand for mHealth services in wellness & prevention. Furthermore, demand for effective healthcare administration and workflow efficiency is anticipated to boost the segment growth in the coming years.
The mobile operators' segment accounted for the highest revenue share of 47.5% in 2020 owing to improvements in network infrastructure, a rise in the use of 3G & 4G technologies, and an increase in the number of mobile subscribers. The segment will grow further at a steady CAGR from 2021 to 2028 due to a rise in the number of industry partnerships. The content players segment is expected to register the fastest CAGR over the forecast period.
With the growing use of smartphones, there is an increasing trend of using various apps for communication and other purposes, which has led to the development of various healthcare apps that can effectively deliver different types of mHealth services. This, in turn, is fueling the demand for content players, thereby supporting the segment growth. The increasing involvement of content players in the development of mobile health platforms and technologies that are useful in diagnosis, remote patient monitoring, documentation handling, and appointment scheduling & tracking is likely to boost the segment growth during the forecast period.
North America dominated the global mHealth market with a revenue share of 38.8% in 2020 owing to various factors including high healthcare expenditure & incidence of chronic diseases, a rise in geriatric population, and improved network infrastructure. Favorable government initiatives and increasing adoption of mobile health apps are projected to drive the regional market over the forecast period.
Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the rising penetration of smartphones in the regional consumer market. For instance, according to The Mobile Economy 2020 by GSMA, unique mobile subscriptions in the Asia Pacific region reached 2.8 billion in 2019 and this number is estimated to reach 3.0 billion by 2025. In addition, an increasing number of digitalization programs by the governments of various emerging economies, such as China and India, is anticipated to drive the regional market in the coming years.
Airstrip Technologies, Inc.
Samsung Electronics Co. Ltd.
Allscripts Healthcare Solutions
Qualcomm Technologies, Inc.
Sleep Apnea Monitors (PSG)
Activity Trackers/ Actigraphs
Personal Health Record Apps
Medication Management Apps
Disease Management Apps
Remote Monitoring Apps
Exercise & Fitness
Diet & Nutrition
Lifestyle & Stress
Independent Aging Solutions
Chronic Disease Management & Post-acute Care Services
Healthcare Systems Strengthening Services
Middle East Africa
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 2020 and the forecast between 2021 and 2030. 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 2017 to 2030. 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:
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
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 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.
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 strategically profile the key players and comprehensively analyze their growth strategies.
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