mHealth Monitoring Diagnostic Medical Devices Market (By Product: Connected Medical Devices, mHealth Applications, mHealth Services; By End-user: B2C, B2B) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 20222030

According to Vision Research Reports, the global mHealth Monitoring Diagnostic Medical Devices market size surpassed US$ 32 Bn in 2021 and is expected to grow at a CAGR of 21% from 2022 to 2030.

Global mHealth Monitoring Diagnostic Medical Devices market size is projected to surpass US$ 165 billion by 2030, rise in prevalence of chronic disorders, aging population, technological advancements, entry of new players, and increase in access to health care are projected to drive the global mHealth monitoring diagnostic medical devices market.

mHealth involves delivery of health care related services to end-users through mobile phones (smartphones), tablets, and medical sensors. mHealth includes connected medical devices, mHealth applications, and mHealth services.

North America dominated the global mHealth Monitoring Diagnostic Medical Devices market in 2020 and the trend is anticipated to continue during the forecast period. Increase in prevalence of chronic diseases, diabetes, rise in health and fitness concerns among general population, and surge in penetration of smartphone and internet services are expected to drive the market in North America.

However, Asia Pacific is likely to be a highly lucrative market for mHealth Monitoring Diagnostic Medical Devices and it is expected to expand at a high CAGR during the forecast period.

Increasing Government Initiatives to Drive Market

  • Increasing government initiatives for the adoption of mhealth products is likely to drive the market during the forecast period
  • In July 2016, Japan's Ministry of Economy, Trade, and Industry announced plans to launch a demonstration project to improve diabetes management through the utilization of IoT and health information
  • In July 2017, the European Commission launched public consultation on how Europe should promote digital innovation in health care for the benefit of citizens and health systems in Europe

Connected Medical Devices Segment to Dominate Market

  • Based on product, the global mHealth Monitoring Diagnostic Medical Devices market is classified into connected medical devices, mHealth applications and mHealth services.
  • The connected medical devices is estimated to claim the largest market share in 2020 followed by mHealth applications segments. The connected medical devices segment is projected to grow during the forecast period as these devices reduce health care expenditure incurred during hospital visits for monitoring vital parameters.
  • Moreover, increasing awareness about health and fitness among people across the globe is likely to drive the segment during the forecast period.
  • Increasing penetration of Internet across the world and technological advancements such as introduction of 3G/4G/5G Internet services are likely to drive mHealth applications segments during the forecast period.

Heart Rate Monitors to be Highly Lucrative Sub-Segment

  • In terms of products, the global connected medical devices segment has been segmented into heart rate monitors, activity monitors, electrocardiograph, fetal monitoring, neuromonitoring, and others.
  • The heart rate monitors sub-segment is expected to hold the major market share in 2020 due to increasing adoption of technologically advanced products and advantages of heart rate monitors such as provision of real-time health data, thereby allowing patients to track heart rate from anywhere anytime.

B2C Segment to be Highly Lucrative Segment

  • In terms of end-user, the global mHealth Monitoring Diagnostic Medical Devices market has been segmented into B2C and B2B.
  • The B2C segment is projected to witness strong growth during the forecast period due to increase in awareness and adoption of health care IT products by patients. 
  • So, the market share of the patient sub-segment is predominant over other caregiver sub-segment and is expected to grow during the forecast period. Increase in availability of different apps and web based solutions for patients to view and store medical records and see medical test results online is expected to propel this sub-segment.

North America to Dominate Global Market

  • In terms of region, the global mHealth Monitoring Diagnostic Medical Devices market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global mHealth Monitoring Diagnostic Medical Devices market in 2020, followed by Europe.
  • North America accounted for major share of the global mHealth Monitoring Diagnostic Medical Devices market in 2020, due to increasing funding and mergers & acquisitions
  • In June 2017, Teladoc acquired Best Doctors, a provider of virtual medical consultation. Under the terms of the agreement, the purchase price comprised US$ 375 Mn cash and US$ 65 Mn of Teladoc common stock.

Competitive Landscape

  • The global mHealth Monitoring Diagnostic Medical Devices market is fragmented in terms of number of players. Key players in the global market include Dexcom, Inc., Apple, Inc., FitBit, Inc., Withings (Nokia), Proteus Digital Health, Omada Health, Inc., WellDoc, Inc., Livongo Health, Noom, Inc., Ginger.io, Inc., Propeller Health, 2Morrow, Inc. Canary Health, Mango Health, BiogeniQ Inc., Twine Health, Inc., Glooko, Inc., Firstbeat Technologies Ltd, Claritas MindSciences, Big Health, Dthera Sciences, Virta Health Corp, Zest Health, LLC, Meru Health, Inc., HealthMine, Inc., Pear Therapeutics, Inc., BioTelemetry, Inc, Blue Mesa Health, and Digital Therapeutics

Market Segmentation

By Product

    • Connected Medical Devices
      • Heart Rate Monitors
      • Activity Monitors
      • Electrocardiograph
      • Fetal Monitoring
      • Neuromonitoring
      • Others
    • mHealth Applications
      • Fitness & Wellness
      • Diabetes
      • Cardiovascular Diseases
      • Central Nervous System Disease
      • Respiratory Diseases
      • Musculoskeletal Diseases
      • Smoking Cessation
      • Medication Adherence
      • Others
    • mHealth Services

By End-user

    • B2C
      • Patients
      • Caregivers
    • B2B
      • Providers
      • Payers
      • Employers
      • Others

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Report Scope

The MHealth monitoring diagnostic medical devices 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 monitoring diagnostic medical devices market for the base year 2020 and the forecast between 2022 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 monitoring diagnostic medical devices market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the MHealth monitoring diagnostic medical devices 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 monitoring diagnostic medical devices 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 monitoring diagnostic medical devices 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 monitoring diagnostic medical devices 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 monitoring diagnostic medical devices 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 monitoring diagnostic medical devices market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of MHealth monitoring diagnostic medical devices 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 monitoring diagnostic medical devices 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.

MHealth monitoring diagnostic medical devices 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 monitoring diagnostic medical devices 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 monitoring diagnostic medical devices 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 monitoring diagnostic medical devices market. These factors have benefited the growth of the global market for MHealth monitoring diagnostic medical devices. 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 monitoring diagnostic medical devices. 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 monitoring diagnostic medical devices are as follows:

  • History Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2022 to 2030

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 (2017-2020) and forecast (2021-2028);
  • 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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