The global mHealth market accounted for USD 62.76 billion in 2023 and is expected to reach at USD 268.58 billion by 2034 with a CAGR of 14.13% during the forecast period 2024-2034. The market will grow as a result of growing smartphone penetration, wearable technology advancements, telemedicine, and remote patient monitoring, government initiatives and support, and integration with healthcare systems.
Fitness trackers, smartwatches, and health monitoring gadgets are examples of wearable technology that has grown in popularity. Numerous health metrics, such as heart rate, activity level, sleep patterns, and more, can be monitored by these devices. Preventive healthcare is facilitated by the integration of cell phones and wearable technologies, which permits ongoing condition monitoring and management. For instance, Cedars-Sinai just released the Cedars-Sinai Connect app, a mobile health app that uses artificial intelligence to offer virtual care solutions for various clinical issues, in October 2023.
By component, the mHealth apps segment accounted for the highest revenue-grossing segment in the global mHealth market in 2023 owing to the rapid adoption of smartphones, increasing demand for remote healthcare services, and the availability of a wide range of health and wellness applications catering to various medical needs and lifestyle preferences. For instance, Medtronic plc announced in May 2020 that the FDA in the United States has approved the Android version of its Guardian Connect continuous glucose monitoring (CGM) device. Additionally, the mHealth services segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding adoption of telemedicine, remote patient monitoring solutions, and government initiatives supporting digital health infrastructure development.
By end-user, the patient segment accounted for the highest revenue-grossing segment in the global mHealth market in 2023 owing to the increasing prevalence of chronic diseases, rising demand for personalized healthcare solutions, and the growing trend of self-management and health monitoring among patients. For instance, DexCom, Inc. announced in April 2022 that the Dexcom G7 Continuous Glucose Monitoring (CGM) System is now available for individuals with diabetes in the UK, Ireland, Germany, Austria, and Hong Kong who are two years of age or older. Additionally, the providers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of telemedicine platforms, remote patient monitoring solutions, and the integration of digital health technologies into healthcare systems to enhance efficiency and patient care delivery.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust infrastructure for digital health, favorable government policies supporting mHealth initiatives, and high healthcare expenditure in the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing smartphone penetration, rising awareness of digital health solutions, and efforts to improve healthcare access in emerging economies. For instance, the Mini badge was introduced in March 2022 by Vocera Communications, a division of Stryker. Hands-free communication is made possible by this small, lightweight, voice-activated wearable gadget that interfaces with healthcare institutions' operational and clinical operations.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Fitness trackers, smartwatches, and health monitoring gadgets are examples of wearable technology that has grown in popularity. Numerous health metrics, such as heart rate, activity level, sleep patterns, and more, can be monitored by these devices. Preventive healthcare is facilitated by the integration of cell phones and wearable technologies, which permits ongoing condition monitoring and management. For instance, Cedars-Sinai just released the Cedars-Sinai Connect app, a mobile health app that uses artificial intelligence to offer virtual care solutions for various clinical issues, in October 2023.
By component, the mHealth apps segment accounted for the highest revenue-grossing segment in the global mHealth market in 2023 owing to the rapid adoption of smartphones, increasing demand for remote healthcare services, and the availability of a wide range of health and wellness applications catering to various medical needs and lifestyle preferences. For instance, Medtronic plc announced in May 2020 that the FDA in the United States has approved the Android version of its Guardian Connect continuous glucose monitoring (CGM) device. Additionally, the mHealth services segment is predicted to grow at the fastest CAGR during the forecast period owing to the expanding adoption of telemedicine, remote patient monitoring solutions, and government initiatives supporting digital health infrastructure development.
By end-user, the patient segment accounted for the highest revenue-grossing segment in the global mHealth market in 2023 owing to the increasing prevalence of chronic diseases, rising demand for personalized healthcare solutions, and the growing trend of self-management and health monitoring among patients. For instance, DexCom, Inc. announced in April 2022 that the Dexcom G7 Continuous Glucose Monitoring (CGM) System is now available for individuals with diabetes in the UK, Ireland, Germany, Austria, and Hong Kong who are two years of age or older. Additionally, the providers segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of telemedicine platforms, remote patient monitoring solutions, and the integration of digital health technologies into healthcare systems to enhance efficiency and patient care delivery.
North American region is anticipated to have the highest revenue share during the forecast period owing to the robust infrastructure for digital health, favorable government policies supporting mHealth initiatives, and high healthcare expenditure in the region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing smartphone penetration, rising awareness of digital health solutions, and efforts to improve healthcare access in emerging economies. For instance, the Mini badge was introduced in March 2022 by Vocera Communications, a division of Stryker. Hands-free communication is made possible by this small, lightweight, voice-activated wearable gadget that interfaces with healthcare institutions' operational and clinical operations.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Component, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement
Segmentation: MHealth Market Report 2023 - 2034
MHealth Market Analysis & Forecast by Component 2023 - 2034 (Revenue USD Bn)
- Wearables & Connected Medical Devices
- Vital Sign Monitoring Devices
- Sleep Monitoring Devices
- Electrocardiographs Fetal and Obstetric Devices
- Neuromonitoring Devices
- mHealth Apps
- Medical Apps
- Fitness Apps
- Services
- Monitoring Services
- Diagnosis Services
- Healthcare Systems Strengthening Services
- Others
MHealth Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Patients
- Providers
- Payers
- Others
MHealth Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. MHealth Market: Component Estimates & Trend Analysis
8. MHealth Market: End-User Estimates & Trend Analysis
9. Regional Market Analysis
10. North America MHealth Market
11. Europe Global MHealth Market
12. Asia Pacific Global MHealth Market
13. Latin America Global MHealth Market
14. MEA Global MHealth Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Apple Inc.
- Google LLC (including Google Health)
- Samsung Electronics Co. Ltd. (including Samsung Health)
- Fitbit Inc. (now part of Google)
- Garmin Ltd.
- Huawei Technologies Co. Ltd.
- Qualcomm Incorporated (including Qualcomm Life)
- Teladoc Health Inc.
- Amwell (formerly American Well)
- 23andMe Inc.
- Omada Health Inc.
- Livongo Health (now part of Teladoc Health)
- Philips Healthcare
- Medtronic plc
- Dexcom Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 62.76 Billion |
| Forecasted Market Value ( USD | $ 268.58 Billion |
| Compound Annual Growth Rate | 14.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
