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Global mHealth Market Size, Share, Trends, Growth & COVID-19 Impact Analysis Report - Segmented By Type (Blood Pressure Monitors, Glucose Meters and Pulse Oximeters), Services (Chronic Care Management, Health and Fitness, Weight Loss, Women's Health, Personal Health Record and Medication), Application (Remote Monitoring, Consultation, Fitness and Wellness and Prevention) & Region – Industry Forecast (2024 to 2029)

Published: March, 2023
ID: 1839
Pages: 175
Formats: report pdf report excel report power bi report ppt

Global mHealth Market Size (2024 to 2029)

As per our analysis report, the global mobile health market is forecasted to reach USD 391.33 billion by 2029 from USD 85.20 Billion in 2024, showcasing a compound annual growth rate of 35.65% during the forecast period. Fitbit, Apple Inc., and DEXCOM are expected to occupy most of the mHealth market share globally during the forecast period.

mHealth is a branch of eHealth dealing with the collection of patient data. The patient data is collected and stored using the mHealth Application and is reviewed by healthcare professionals to determine the severity of the medical condition. Wireless electronic devices like mobiles, wearable medical devices, and others play a crucial role in collecting patient data. The collected data is stored on a remote cloud using mHealth applications. In recent times of the rapid advances in digitalization and the adoption of I.T. services in the healthcare industry, mhealth apps are of growing preference among populations. 

Global mHealth Market Drivers:

The growing adoption of mobile technologies, an increasing number of mobile health applications, new opportunities for mobile health integration into existing eHealth systems, and continued growth in mobile cellular network coverage are majorly driving the growth of the global mHealth market. The growing penetration of the Internet and cell phones is significantly contributing to the market's growth rate. In many low- and middle-income countries, the penetration of smartphone networks surpasses other infrastructure, such as paved roads and electricity, and dwarfs the fixed deployment of the Internet.

The growing patient population of chronic diseases is propelling the global mHealth market growth. Promising outcomes have been reported for managing chronic diseases, improving chronic pulmonary disorders and symptoms of heart failure, and reducing death. According to WHO, the Global Burden of Disease Study estimates a prevalence of 251 million COPD cases worldwide in 2016. In low- and middle-income countries, more than 90% of COPD deaths occur. An estimated 17.9 million people died in 2016 from CVDs, representing 31% of all global deaths. About 85% of these deaths are due to heart attack and stroke. In addition, in low-and-middle-income nations, the prevalence of diabetes has risen more rapidly than in high-income countries, with an estimated 1.6 million deaths by diabetes in 2016.

Significant cost savings in healthcare delivery is another crucial aspect supporting the global mobile health market. These networks are increasingly advanced, providing higher and higher data transfer rates alongside cheaper and more efficient handsets, improving how health services and information are accessed, distributed, and handled. Thus, the chance for greater personalization and citizen-focused public health and medical care comes with improved accessibility. In addition, they are reducing premature mortality from co-morbidities with non-communicable diseases. Other possibilities for mobile devices include raising awareness about the primary risk factors for non-communicable diseases and improving the diagnosis and monitoring of illnesses, self-care and home care, and overall chronic illness management. These are some driving factors that boost the mHealth market.

The increased use of wearable medical devices and beneficial government policies drive the mHealth market's growth. Governments express interest in mHealth as a complementary strategy for improving health systems in low- and middle-income countries and achieving the Millennium Development Goals (MDGs) related to health. mHealth is used in maternal and child health and poverty-related disease burden reduction programs, including HIV/AIDS, malaria, and tuberculosis (T.B.).

Global mHealth Market Restraints:

The rise in privacy concerns is a primary factor hampering the growth of the global mHealth market. The lack of sufficient knowledge in remote areas for the utilization of applications through smartphones and strict rules by the government in approving some applications are some of the other factors showing a significant impact in restricting the growth of the mHealth market to some extent. In addition, the shortage of skilled technicians to maintain the applications more effectively is challenging for the mobile health market.

Impact of COVID-19 on the global mHealth market:

The 'silent transmission' of coronavirus triggered by asymptomatic citizens, sometimes unknowingly, is a significant challenge in the fight against the COVID-19 pandemic. It is safe to mitigate the pandemic's impact using mHealth technology, such as mobile applications and wearable sensors, which can help track COVID-19 patients and suspected cases. As we read, one nation after another is being shut down by COVID-19. The coronavirus pandemic is having an unprecedented impact on everyday lives across the globe. Due to its dire effects on the global economy, the virus has contacted every industry. But its impact on the healthcare industry was seismic.

Increasing COVID-19 cases worldwide are escalating the demand for the mHealth market. By maintaining social distancing, the adaption of digital health services is growing during the COVID-19 pandemic. Hence, the revenue for the mHealth market during COVID-19 is on-demand and is likely to increase. The largest share is seen in 2019, besides the total share for the mHealth sector. Digital health experts make it possible to crowdsource disease tracking through coronavirus tracing software.

The ongoing study amplifies the research process to ensure that the underlying issues of COVID-19 and potential strategies moving forward are included. The study offers insights into COVID-19, considering changes in consumer behavior and demand, buying patterns, supply chain re-routing, current market dynamics, and governments' significant initiatives. This will be particularly beneficial in times of a pandemic, such as the outbreak of COVID-19, when governments have asked people to maintain social distance. The patch results from a collaboration between Northwestern University and the Shirley Ryan AbilityLab. This patch may be attached to the throat, monitor lung movements and control breathing sounds for coughing and other Coronavirus problems. This will include the telemedicine process as a means of diagnosis and assistance in proper treatment without the possibility of increasing contact and spread of coronavirus.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

By Devices, Applications, Services, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leader Profiled

Cardio Net Inc., iHealth Labs Inc., QUALCOMM life, Vodafone, Dexcom, Inc., Fitbit, Inc. (Twine Health, Inc.), Koninklijke Philips N.V. (Philips), Livongo Health, Inc., Medtronic Plc., Omada Health, Inc., Omron Corporation

 

This market research report on the global mHealth market has been segmented by Type, Application, services, and Region.

Global mHealth Market - By Type:

  • Blood Pressure Monitor
  • Glucose Meter
  • Pulse Oximeter

Based on Type, the blood pressure monitor is predicted to lead the global mobile health market due to the rise in the number of people suffering from various disorders. On the other hand, the segment is expected to grow because of the growing significance of remote care services and the continuous adoption of I.T. care services in the healthcare industry, leading to more technological advancements in healthcare services. Additionally, the rising preference towards home care services, especially after the pandemic outbreak, has led more people to use smartphones, further promoting the segment's rise. 

The glucose meter segment is estimated to have significant growth in the forecast period. The growing number of diabetes patients worldwide and the prevalence of personalized medicine are lucratively accelerating the segment's growth rate.

However, the pulse oximeter segment also has a slightly inclined growth rate during the forecast period.

Global mHealth Market - By Application:

  • Chronic Care Management
  • Health and Fitness
  • Weight Loss
  • Women's Health
  • Personal Health Record
  • Medication

Based on the Application, the health and fitness segment is anticipated to register a significant share of the global mobile health market during the forecast period. The rise in the awareness to stay healthy by doing regular exercises using applications available in Android and iOS systems is significantly promoting the demand of this segment.

In 2023, the chronic care management segment was the second largest segment in the global mobile health market. It was estimated to register a healthy CAGR during the forecast period due to the growing incidences of chronic diseases like high blood pressure, diabetes, cancer, etc. In addition, weight loss, women's health, personal health records, and medication segments have sustainable growth opportunities in the forecast period.

Global mHealth Market - By Services:

  • Remote Monitoring
  • Consultation
  • Fitness And Wellness
  • Prevention

Based on the services, the remote monitoring segment had the majority share in the global mobile health market in 2023. Therefore, adopting the latest technology in healthcare centers is a crucial driving factor for extensive growth. In addition, the rising preference of the patient population towards the convenience of remote care is helping the segment grow. Furthermore, remote care services are especially beneficial to the geriatric populations who have difficulty going for regular hospital visits; therefore, the rising geriatric population is helping the segment advance. 

The fitness and wellness segment is deemed to have the highest CAGR during the forecast period with the launch of several fitness-related applications. In addition, the growing use of smartphones is accelerating the growth rate of these segments.

Global mHealth Market - By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

The North American mHealth market held the major share of the worldwide market in 2023 and the same trend is predicted to continue throughout the forecast period. During the forecast period, the North American market is estimated to grow at a promising CAGR owing to the introduction of further technological developments in healthcare centers. The U.S. led the North American market in 2023 and registered the most significant share. Growing awareness towards using mobile applications is to surge the market's growth. In addition, during the spread of COVID-19, this Region is making the best use of mHealth services available.

The mhealth market in APAC will dominate the global market during the forecast period. The increasing geriatric population is one of the significant factors for the market to grow in this Region. Besides, improving support from the I.T. industry is likely to bolster the market's growth. As a result, India and China are the major countries contributing to the highest shares of the market.

The European mHealth market accounted for a substantial share of the global market in 2023 and is expected to hit the highest CAGR during the forecast period due to the escalating healthcare expenditure. The United Kingdom and Germany accounted for a significant European market share in 2023 due to the increasing research and development centers. In addition, the launch of user-friendly applications showing positive results in emergency cases is leveling up the market's growth rate.

The Latin American mHealth market is anticipated to witness a steady CAGR in the coming years owing to the rapid adoption of mHealth applications by the Latin American population and growing disposable income. Brazil and Mexico are predicted to hold a leading share of the Latin American market during the forecast period.

The mhealth market in MEA is predicted to have significant growth opportunities during the forecast period. Therefore, the focus on raising awareness of the benefits of using healthcare applications is solely to leverage the market's growth rate in this Region.

KEY MARKET PARTICIPANTS:

A few of the notable companies operating in the global mHealth market profiled in the report are Cardionet Inc., iHealth Labs Inc., QUALCOMM life, Vodafone, Dexcom, Inc., Fitbit, Inc. (Twine Health, Inc.), Koninklijke Philips N.V. (Philips), Livongo Health, Inc., Medtronic Plc., Omada Health, Inc., Omron Corporation (Omron Healthcare, Inc.), Samsung Electronics Co., Ltd and Welldoc, Inc.

RECENT HAPPENINGS IN THE MARKET:

  • In October 2022, Cigna clients in New York and New Jersey can use DocGo's mobile health services, according to the company, which is a pioneer in last-mile mobile health services. With a strategy created to enable individuals to access quick and affordable treatments and diagnostics, DocGo offers clients access to high-quality healthcare outside conventional medical institutions.
  • In October 2022, in collaboration with researchers from Indiana University School of Medicine, LifeOmic, a software firm that uses the cloud, machine learning, and mobile devices to enable precise health and wellness solutions, today released the results of a historical study on intermittent fasting (IF). The study, published in JMIR mHealth and uHealth, measures user retention, fasting behaviors, and weight reduction among users of LIFE Fasting Tracker, a mobile app for fasting, and LIFE Extend, a mobile app for precision wellness, both from LifeOmic. By monitoring 26 million fasts over two years while following around 800,000 people, it is the largest research project of its sort to date. Worldwide, 39% of persons 18 or older are overweight, and 13% are obese. Obesity rates are three times greater in the U.S.
  • In October 2022, Prevention asked Sanofi for marketing support as its regulatory ordeal with diabetes drew a close. Prevention Bio's Type 1 diabetes candidate, teplizumab, is finally reaching the regulatory finish line in the U.S. after several FDA setbacks. The New Jersey-based immunology company has enlisted Big Pharma Sanofi to assist in bringing the medication to market should clearance be granted next month, so they must feel confident about their chances. Teplizumab's potential U.S. release is the focus of the "co-promotional" agreement, which grants Prevention access to Sanofi's "expertise, skills, and commercial resources," the firms stated in a release.
  • In January 2020, Omron stepped forward in setting up an innovative mobile app named Personal Heart Health Coach. It is an innovation in heart health technology that will soon become a part of our daily lifestyle.
  • In October 2019, Livongo, a leading company in mHealth for diabetic care management, signed a contract with the Federal Employee Health Benefits Program. This contract provides excellent health advice for patients who have diabetes and other chronic illnesses by staying at home using digital health platforms.
  • In February 2018, Twine Health was acquired by Fitbit, where the providers and payers get new mHealth tools. This acquisition will help develop online coaching tools and secure communication between the patient & caretaker.
  • In June 2019, Philips published a Future Health Index (FHI) report focusing on digital health technology. The main aim is to establish value-care systems in healthcare.

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FAQ's

Does this report include the impact of COVID-19 on the mHealth market?

The global mHealth market size was valued at USD  46.31 billion in 2022.

Which region had the major share of the global mobile health market in 2023?

Geographically, the North American region accounted for the major share in the global mHealth market in 2023.

Who are the leading players in the mHealth market?

Cardionet Inc., iHealth Labs Inc., QUALCOMM life, Vodafone, Dexcom, Inc., Fitbit, Inc. (Twine Health, Inc.), Koninklijke Philips N.V. (Philips), Livongo Health, Inc., Medtronic Plc. are a few of the notable players in the global mobile health market.

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