According to the latest report by IMARC Group, titled “mHealth Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global mHealth market reached a value of US$ 59.5 Billion in 2021. mHealth or mobile health refers to the concept that enables individuals to capture their own health data using mobile technology, such as smartphones, tablets and other wireless devices. It helps improve health outcomes, healthcare services, and health research by providing personal digital assistance to patients. This reduces the health information gap as the system ensures data collection remotely and optimizes programs and policies.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global mHealth Market Trends:
The global mHealth market is primarily driven by the growing penetration of smartphones and the internet. The growing mobile phone networks offering higher data transmission speed and cheaper and more powerful handsets transform the way health services and information are accessed, delivered, and managed. Besides this, the increasing cases of chronic diseases like diabetes and hypertension are also positively influencing the market growth. Furthermore, governments of various nations are investing in mHealth to strengthen health systems and achieve health-related development goals. Moreover, several companies are developing mobile applications that assist patients in keeping track of their health. For instance, the introduction of the internet-based repository CURE ID, launched by the United States Food and Drug Administration (US FDA), offers the experience of treating infectious diseases through smartphones or websites. On account of these factors, the market value is expected to reach US$ 226.1 Billion by 2027, registering a GAGR of
24.39% during the forecast period (2022-2027).
- Based on the component, the market has been divided into wearables (blood pressure monitors, blood glucometer, pulse oximeter, neurological monitors, and others) and mHealth apps (medical apps and fitness apps).
- On the basis of the service, the market has been categorized into monitoring services, diagnosis services, healthcare systems strengthening services, treatment services, and others.
- The market has been segregated based on the participants into mHealth application companies, pharmaceuticals companies, hospitals, health insurance companies, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Airstrip Technologies Inc., Allscripts Healthcare Solutions Inc., Apple Inc., Bayer Aktiengesellschaft, Boston Scientific Corporation, Koninklijke Philips N.V., Masimo Corporation, Omron HealthCare Inc. (OMRON Corporation), Qualcomm Incorporated, Samsung Electronics Co. Ltd. and Sanofi S.A.
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