Global mHealth Market by Participants (Mobile Operators, Content Players), by Component (mHealth Apps, Wearables), by Services (Diagnosis, Monitoring) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global mHealth market was valued at USD 45.7 million in 2020. It is projected to grow at a compound annual rate (CAGR of 17.6%) between 2021 and 2028. The market is driven by the increasing penetration of smartphones and internet connectivity, as well as supportive government initiatives. Market growth is expected to be boosted by rising demand for preventive care and increased funding for mHealth startups. Market growth is also being driven by the growing adoption of mobile health technology by patients, doctors, and other healthcare faculties. According to a survey done in 2019 by Journal of Librarianship and Information Science on students at two Croatian high schools, 84.3% of respondents said they had used their mobile devices to access health information.

A survey of doctors was also published in NCBI 2020. It found that 68% of the respondents believed that data about biometrics and health from mHealth technology helped to promote a healthy lifestyle. 64% agreed that these technologies help track medical treatment. The market is seeing a shift from traditional healthcare practices to more patient-centric and preventive approaches. These technologies are also supported by the growing interest of consumers in care management.

Market growth is also attributed to favorable strategic developments by market players and government initiatives in various countries. Philips, for example, announced in 2020 a partnership with American Telemedicine Association (ATA) to increase the adoption and use of telehealth services. Different healthcare conditions can benefit from the applications and platforms developed by the company. MobiHealthNews reports that there were approximately 251 funding deals for the digital health sector in 2019.

In addition, the Covid-19 epidemic has increased the use of mHealth technology. The pandemic saw an increase in mHealth technology penetration due to remote patient monitoring, diagnosis and analysis of patient data, and increasing adoption of remote patient monitoring. According to App Annie data, there was a 65% increase in the global number of medical apps that were downloaded during peak lockdown months compared to those downloaded in January 2020.

12.4% sales growth due to COVID19 mHealth

Privacy and data security concerns can also be a factor that could hinder the adoption of mHealth platforms. This may limit market growth. Market growth is being impeded by data breaches, configuration changes, and accessibility issues to sensitive information. In 2019, for example, around 25 million patient data were exposed by American Medical Collection Agency (AMCA), which is a billing service provider. This hack took place between August 2018 and March 2019. In order to ensure better compliance, several governments have imposed stringent regulations on businesses. This will alter the market dynamics over the next few years.

Component Insights

With a market share of more than 87%, the mHealth apps segment dominated in 2020. The increased penetration of smartphones and the internet, as well as the high awareness among healthcare professionals about mHealth, has contributed to this high market share. This segment will grow at a faster CAGR of 2021-2028 because of the increasing adoption and visibility mobile healthcare apps.

These apps can also improve treatment outcomes, lifestyle, and reduce the risk of developing chronic diseases. These apps allow patients to access their health information and improve engagement. This creates a seamless physician-patient interaction that allows for transparency in diagnosis and treatment.

Services Insights

In 2020, the monitoring services segment had a 62.3% revenue share. This was due to increased prevalence of chronic diseases and increasing demand for remote monitoring systems in postacute care and independent ageing solutions. The market has seen an increase in mHealth services to monitor patient status, which will drive the segment's growth.

The segment of "others" is expected to see the fastest CAGR during the forecast period. Another service is to ensure the health and wellness of patients. The key drivers of mHealth services for wellness & prevention are rising health-consciousness and a growing variety of fitness apps. In the future, the demand for efficient healthcare administration and workflow efficiency will drive segment growth.

Participants Insights

In 2020, the mobile operators segment had a 47.5% revenue share. This was due to improved network infrastructure, increased use of 3G and 4G technologies, as well as an increase in mobile subscribers. This segment will continue to grow at a steady rate between 2021 and 2028 thanks to the increase in industry partnerships. Over the forecast period, the segment of content players is expected to experience the fastest CAGR.

The increasing use of smartphones has led to an increase in the number of apps being used for communication. This has resulted in the development of many healthcare apps that can deliver various types of mHealth services. This is boosting the demand for content providers, which in turn supports the segment's growth. The segment's growth will be boosted by the increasing involvement of content providers in the development of mobile healthcare platforms and technologies that can be used in remote patient monitoring, diagnosis, documentation handling, appointment scheduling and tracking, as well as in document handling.

Regional Insights

North America dominated global mHealth in 2020 with a 38.8% revenue share. This was due to a variety of factors, including increased healthcare spending & the incidence of chronic disease, a rising geriatric population and an improved network infrastructure. The forecast period will see the region's market grow due to favorable government initiatives and the increasing use of mobile health apps.

Asia Pacific will be the fastest growing region market during the forecast period due to the increasing penetration of smartphones within the regional consumer market. According to The Mobile Economy 2020 from GSMA, the number of unique mobile subscriptions in Asia Pacific reached 2.8 billion in 2019, and that number will rise to 3.0 billion by 2025, according to GSMA. The future growth of the region's market is expected to be driven by a growing number of digitalization programs offered by governments in emerging economies like India and China.

Market Share Insights & Key Companies

Due to the increasing demand for mobile health services and platforms, as well as technological advances, the market is highly competitive. This will likely boost the entry of new businesses. To increase their market share, key companies are pursuing strategic alliances, mergers and acquisitions, as well as extensive R&D in the field of mHealth technology. Allscripts, for example, announced in August 2020 its partnership with Sheba Medical Center to accelerate the development of AI-based technology and improve patient care through the ARC Innovation Center at various hospitals. This partnership will increase the company's visibility in the mobile healthcare domain. These are some of the major companies operating in the global mHealth sector:

• AT&T

• Telefonica S.A.

• SoftServe

• Google, Inc.

• Airstrip Technologies, Inc.

• Samsung Electronics Co. Ltd.

• Allscripts Healthcare Solutions

• Apple Inc.

• Orange

• mQure

• Qualcomm Technologies, Inc.

• Vodafone Group

Up Market Research published a new report titled “mHealth Market research report which is segmented by Participants (Mobile Operators, Content Players), by Component (mHealth Apps, Wearables), by Services (Diagnosis, Monitoring), By Players/Companies Apple Inc; AT&T; Allscripts Healthcare Solutions; Orange; Google Inc; AirStrip Technologies; Qualcomm Inc; Softserve; mQure; Telefonica; Vodafone Group; and Samsung Electronics”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global mHealth Market Report Segments:

The market is segmented by Participants (Mobile Operators, Content Players), by Component (mHealth Apps, Wearables), by Services (Diagnosis, Monitoring).

mHealth Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the mHealth Market

Overview of the regional outlook of the mHealth Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The mHealth Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of mHealth Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Mobile Operators

                2. Content Players

                1. mHealth Apps

                2. Wearables

                1. Diagnosis

                2. Monitoring

9. Market scenario by region, sub-region, and country.
10. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
11. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
12. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the mHealth Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
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• Understanding Competition Scenario
• Product & Brand Management
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Reasons to Purchase the mHealth Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.