mHealth Industry Overview
The global mHealth market size was valued at USD 56.8 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.8% from 2023 to 2030. The rising focus on improving personal health and fitness using smart devices and wearables is the major factor accelerating market growth. Besides, increasing penetration of the internet and smartphones and growing adoption of mHealth technology and platforms by physicians and patients are also anticipated to propel market growth. Furthermore, the rising penetration of digital health services for remote patient monitoring is also increasing the demand for mobile health apps, which in turn is expected to propel market growth over the forecast years.
In addition, growing awareness among the individuals to use mobile health solutions and supportive government initiatives to introduce and promote remote digital healthcare are some of the factors expected to boost the market growth over the years. In addition, the increasing use of smartphones among the adult population and teenagers is also anticipated to drive the growth of mHealth platforms and technologies in the upcoming years. Moreover, the shift in trend from conventional healthcare practices to patient-centric and preventive approaches is also anticipated to drive the market for mHealth over the years. The high preference for mobile medical platforms and the positive attitude of healthcare professionals toward real-time patient care are also likely to accelerate the growth of the market during the forecast years.
Gather more insights about the market drivers, restraints, and growth of the Global mHealth market
For instance, the data published in a digital health journal in 2020 stated that around 68% of respondents agreed that the apps that accessed electronic medical records (EMR) remotely are used full for a healthy lifestyle, and 64% agreed on the benefit of tracking medical treatment, and about 84% respondents agreed on the high precision and accuracy feature of the medical apps. Furthermore, favorable government strategies and increasing collaboration of the manufacturers with several healthcare institutions are also expected to drive the market for mHealth over the years. For instance, Philips collaborated with American Telemedicine Association (ATA) in 2020 for increasing the implementation and adoption of telehealth services during the COVID19 pandemic.
Similarly, the increasing investments in digital health are also one of the major factors anticipated to propel the growth of the mHealth market. For instance, as per Becker's Healthcare report during the first three-quarter of 2021, there have been 251 digital health investment deals. In order to improve the health of populations, mobile health platforms have gained traction during COVID 19 pandemic. The pandemic has encouraged the patients and healthcare providers to adopt the digital health platforms owing to the infection fear and shut down and lock down scenarios across the globe. Moreover, the growing adoption of mobile health technology and remote patient monitoring are some of the major factors anticipated to drive the market for mHealth over the years.
Moreover, privacy and data security concerns are some of the factors anticipated to hamper the adoption of mHealth technologies. Data accessibility issues, configuration changes, data breaches, and the leakage of sensitive health information are the concerns expected to impede market growth. For example, in 2019, the personal and medical data of about 24.4 million people was leaked by the American Medical Collection Agency (AMCA), a medical bill collector for several companies. However, this type of restraint is expected to reduce during forecast periods with the government imposing stringent regulations on the market players regarding data privacy.
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mHealth Market Segmentation
Grand View Research has segmented the global mHealth market based on component, services, participants, and region:
mHealth Component Outlook (Revenue, USD Million, 2016 - 2030)
- Wearables
- mHealth Apps
mHealth Services Outlook (Revenue, USD Million, 2016 – 2030)
- Monitoring Services
- Diagnosis Services
- Healthcare Systems Strengthening Services
- Others
mHealth Participants Outlook (Revenue, USD Million, 2016 – 2030)
- Mobile Operators
- Device Vendors
- Content Players
- Healthcare Providers
mHealth Regional Outlook (Revenue, USD Million, 2016 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa
Key Companies profiled:
Some of the prominent players in the mHealth market include:
- 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
Order a free sample PDF of the mHealth Market Intelligence Study, published by Grand View Research.
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