The mHealth market was valued at $70.69 billion in 2022 and is estimated to reach $370.66 billion by 2032, exhibiting a CAGR of 18% from 2023 to 2032. mHealth stands for mobile health. mHealth refers to the use of mobile devices, such as smartphones, tablets, wearable devices, and other wireless technologies, in healthcare and public health. It encompasses the use of mobile applications (apps), text messaging (SMS), voice calls, and other communication tools to deliver health-related information, support, and services. mHealth leverages the widespread availability and increasing functionality of mobile devices to provide healthcare solutions, improve access to medical information, enhance communication between patients and healthcare providers, and empower individuals to manage their own health and wellness.
Major factors that drive the growth of the global mHealth market include rapid technological advancements in medical devices, increase in the number of patients suffering from chronic heart diseases, which further increase the demand for mHealth devices for monitoring heart disease patients, and rise in prevalence of diabetes. For instance, according to the Centers for Disease Control and Prevention (CDC) 2022, about 697,000 people in the U.S died from heart disease in 2020. In addition, according to a National Center for Health Statistics 2022, in every 20 seconds one American suffers a heart attack. Thus, more than 1 million Americans have a heart attack each year.
However, concerns related to ensuring regulatory compliance are expected to restrict the growth of the mHealth market. On the contrary, surge in healthcare expenditure and unmet medical demands to get better treatment options in developing countries are expected to create lucrative opportunities for the expansion of the global market in the future.
The mHealth market is segmented on the basis of type, application, stakeholder, and region. On the basis of type, the market is classified into mHealth devices and mHealth services. The mHealth devices segment is further categorized into blood glucose meter, blood pressure monitors, pulse oximetry, neurological monitors, cardiac monitors, apnea & sleep monitors, wearable fitness sensor device & heart rate meters, and others. The mHealth service segment is further categorized into prevention services, diagnostic services, monitoring services, treatment services, and wellness & healthcare system strengthening solutions. By application, the mHealth market classified into cardiovascular, diabetes, respiratory, neurology, and others. By stakeholder, the mHealth market is divided into mobile operators, device vendors, healthcare providers, and application & content players. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Boston Scientific Corporation, DexCom, Inc., FITBIT, INC. (Google), Koninklijke Philips N.V., Medtronic plc, Omada Health, Omron Corporation, SAMSUNG ELECTRONICS CO., LTD., Teladoc Health, Inc., and Welldoc, Inc. These major players have adopted product approval, agreement, acquisition, collaboration, merger, and product launch as key developmental strategies to improve the product portfolio of the mHealth market.
Major factors that drive the growth of the global mHealth market include rapid technological advancements in medical devices, increase in the number of patients suffering from chronic heart diseases, which further increase the demand for mHealth devices for monitoring heart disease patients, and rise in prevalence of diabetes. For instance, according to the Centers for Disease Control and Prevention (CDC) 2022, about 697,000 people in the U.S died from heart disease in 2020. In addition, according to a National Center for Health Statistics 2022, in every 20 seconds one American suffers a heart attack. Thus, more than 1 million Americans have a heart attack each year.
However, concerns related to ensuring regulatory compliance are expected to restrict the growth of the mHealth market. On the contrary, surge in healthcare expenditure and unmet medical demands to get better treatment options in developing countries are expected to create lucrative opportunities for the expansion of the global market in the future.
The mHealth market is segmented on the basis of type, application, stakeholder, and region. On the basis of type, the market is classified into mHealth devices and mHealth services. The mHealth devices segment is further categorized into blood glucose meter, blood pressure monitors, pulse oximetry, neurological monitors, cardiac monitors, apnea & sleep monitors, wearable fitness sensor device & heart rate meters, and others. The mHealth service segment is further categorized into prevention services, diagnostic services, monitoring services, treatment services, and wellness & healthcare system strengthening solutions. By application, the mHealth market classified into cardiovascular, diabetes, respiratory, neurology, and others. By stakeholder, the mHealth market is divided into mobile operators, device vendors, healthcare providers, and application & content players. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Boston Scientific Corporation, DexCom, Inc., FITBIT, INC. (Google), Koninklijke Philips N.V., Medtronic plc, Omada Health, Omron Corporation, SAMSUNG ELECTRONICS CO., LTD., Teladoc Health, Inc., and Welldoc, Inc. These major players have adopted product approval, agreement, acquisition, collaboration, merger, and product launch as key developmental strategies to improve the product portfolio of the mHealth market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the mhealth market analysis from 2022 to 2032 to identify the prevailing mhealth market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the mhealth market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global mhealth market trends, key players, market segments, application areas, and market growth strategies.
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Key Market Segments
By Type
- mHealth Devices
- Device Type
- Blood Glucose Monitors
- Blood Pressure Monitors
- Pulse Oximetry
- Neurological Monitors
- Cardiac Monitors
- Apnea and Sleep Monitors
- Wearable Fitness Sensor Devices and Heart Rate Meters
- Others
- mHealth Services
- Service Type
- Prevention Services
- Diagnostic Services
- Monitoring Services
- Treatment Services
- Wellness and Healthcare System Strengthening Solutions
By Application
- Cardiovascular
- Diabetes
- Respiratory
- Neurology
- Others
By Stakeholders
- Mobile operator
- Device Vendors
- Healthcare Providers
- Application and Content Players
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Boston Scientific Corporation
- DexCom, Inc.
- Fitbit
- Koninklijke Philips N.V.
- Medtronic plc
- Omada Health
- Omron Corporation.
- SAMSUNG ELECTRONICS CO., LTD.
- Teladoc Health, Inc.
- Welldoc, Inc
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MHEALTH MARKET, BY TYPE
CHAPTER 5: MHEALTH MARKET, BY APPLICATION
CHAPTER 6: MHEALTH MARKET, BY STAKEHOLDERS
CHAPTER 7: MHEALTH MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the mhealth market was valued at $70.7 billion in 2022, and is estimated to reach $370.7 billion by 2032, growing at a CAGR of 18% from 2023 to 2032. Mobile health (mHealth) is defined as the use of mobile devices, such as smartphones and tablets, in healthcare to support medical and public health practice. mHealth majorly involves the use of wireless technologies, which are deployed in monitoring and treatment of several acute and chronic disorders such as diabetes, hypertension, heart diseases, and others.Key factors driving the growth of the mHealth market include a rise in cases of diabetes, increase in demand for mHealth and wearable device and an increase in technological advancement in mHealth device. For instance, in 2021, ISRAEL21c launched Montfort, which is an FDA-cleared neurological monitor used for monitoring of brain disorder from remote area with the phone. Thus, surge in technological advancement and rise in prevalence of psychiatric disorder propel the growth of the market.
In addition, surge in cases of heart diseases such as heart attack, myocardial infarction, arrhythmia and stroke, which propels the demand for mHealth to assist in the diagnosis of certain cardiac conditions. For instance, according to the Health Hearty 2020 report, the incident rate of heart attacks per 10,000 people was around 190 in people who are over 85 years of age, around 117 for those between 75-84 years of age.
The market offers growth opportunities to the key players in the market including rise in awareness regarding the potential benefits of mHealth devices, high growth potential in developing countries and rise in geriatric population who is more susceptible to conditions such as cardiovascular disease, diabetes, arthritis, and respiratory diseases. And the rise in demand for mHealth across the globe also provides growth opportunities for the market. As a result, the key players engaged in the mHealth industry have invested in R&D, and increasing their production are expected to gain high traction and provide lucrative opportunity for the growth of the mHealth market.
The global mHealth market is segmented on the basis of type, application, stakeholder, and region. On the basis of type, the market is classified into mHealth devices and mHealth services. The mHealth devices segment is further categorized into blood glucose meter, blood pressure monitors, pulse oximetry, neurological monitors, cardiac monitors, apnea & sleep monitors, wearable fitness sensor device & heart rate meters, and others. The mHealth service segment is further categorized into prevention services, diagnostic services, monitoring services, treatment services, and wellness & healthcare system strengthening solutions. By application, the mHealth market classified into cardiovascular, diabetes, respiratory, neurology, and others. By stakeholder, the mHealth market is divided into mobile operators, device vendors, healthcare providers, and application & content players. Region-wise, the market is analyzed across North America (the U. S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The key players profiled in the study include Boston Scientific Corporation, DexCom, Inc., FITBIT, INC. (Google), Koninklijke Philips N. V., Medtronic plc, Omada Health, Omron Corporation, SAMSUNG ELECTRONICS CO., LTD., Teladoc Health, Inc., and Welldoc, Inc. The players in the market such as DexCom, Inc., Koninklijke Philips N. V., Medtronic plc, Omada Health, Omron Corporation, and others have been actively engaged in the adoption of various strategies such as agreement, acquisition, collaboration product approval, and product launch to remain competitive and gain an advantage over the competitors in the market. For instance, in August 2022, DexCom, Inc. announced that the FDA has cleared the next-generation Dexcom G7 Continuous Glucose Monitoring (CGM) System for people with all Types of diabetes for ages two years and older. With an overall mean absolute relative difference (MARD) of 8.2%, Dexcom G7 is the most accurate CGM cleared by the FDA, which is clinically proven to lower A1C, reduce hyper- and hypoglycemia and increase time in range.
Key Market Insights
By type, the mHealth services segment was the highest revenue contributor to the market in 2022 and is estimated to reach 15,6618.5 million by 2032. The mHealth devices segment is expected to be the fastest-growing segment with a CAGR of 21.4% during the forecast period.Based on application, the cardiovascular segment was the highest revenue contributor to the market in 2022. However, the diabetes segment is estimated to be the fastest-growing segment with a CAGR of 19.8% during the forecast period.
Based on stakeholder, the mobile operators segment was the highest revenue contributor to the market in 2022. However, the device vendors segment is estimated to be the fastest-growing segment with a CAGR of 19.9% during the forecast period.
Based on region, North America accounted for a major share of the mHealth market in 2022 and is expected to maintain its dominance during the forecast period. Asia-Pacific is expected to witness the highest CAGR of 20.6% during the forecast period
Companies Mentioned
- Boston Scientific Corporation
- DexCom, Inc.
- Fitbit
- Koninklijke Philips N.V.
- Medtronic plc
- Omada Health
- Omron Corporation.
- SAMSUNG ELECTRONICS CO., LTD.
- Teladoc Health, Inc.
- Welldoc, Inc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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