Newark, June 21, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 50 billion in 2022 global mHealth market will reach USD 465.66 billion in 2032. According to the World Health Organisation, 5% of people globally suffer from depression. Depression is the most prevalent disability in the world, and it affects people's daily lives, according to reports. A few causes include stressful circumstances, loneliness, alcoholism, drug abuse, illness, family history, traumatic childhood events, or giving birth. Approximately 75% of the population in low- and middle-income countries lacks mental health services. But when mental health is more widely recognised and supported by governments worldwide, the market will profit. The market will grow due to the use of mHealth to raise awareness of mental health issues and provide simple access to treatment alternatives with data protection.
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Key Insight of the Global mHealth Market
North America is expected to rise the fastest during the forecast period.
The market's need for mHealth is rising as the prevalence of obesity, cardiovascular, pulmonary, and other chronic conditions rises. The industry is expanding in part due to the rising geriatric population. The market's growth will be fueled by the rising demand for fitness apps that monitor heart health, oxygen levels, nutrition intake, and daily steps from people embracing an active and healthy lifestyle. A potential market for the mHealth sector exists due to a well-established, connected network and the necessary telecommunications infrastructure.
In 2022, the applications segment dominated the market with the largest market share of 57% and market revenue of 28.50 billion.
The product type segment is divided into applications and wearables. In 2022, the applications segment dominated the market with the largest market share of 57% and market revenue of 28.50 billion.
In 2022, the monitoring services segment dominated the market with the largest market share of 38% and market revenue of 19 billion.
The application segment is divided into monitoring services, diagnostics services, fitness and wellness services, treatment services, healthcare systems strengthening services and others. In 2022, the monitoring services segment dominated the market with the largest market share of 38% and market revenue of 19 billion.
In 2022, the healthcare providers segment dominated the market with the largest market share of 40% and market revenue of 20 billion.
The end-user segment is divided into healthcare providers, patients, health insurance providers, pharmaceutical companies, app companies and others. In 2022, the healthcare providers segment dominated the market with the largest market share of 40% and market revenue of 20 billion.
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Advancement in market
October 2022 - According to a study published in JMIR mHealth and uHealth, a mobile health (mHealth) intervention served as a supporting tool to enhance maternal health awareness and behavioural changes linked to maternal health among pregnant women living in tribal and rural areas in Jharkhand, India. Members of tribal societies could use the mobile app Mobile for Mothers (MfM) as instructional resources to encourage the adoption of contemporary maternal health care recommendations. 800 accredited social health advocates (ASHAs) participated in the study.
Market Dynamics
Driver: The rise in popularity of fitness applications.
Sedentary lifestyles, unhealthy deaths, excessive alcohol consumption, and a lack of physical activity were all linked to changes in lifestyle over the previous ten years. The result has been an increase in obesity on a global scale. An increase follows this in the risk of cancer, diabetes, other chronic diseases, and cardiovascular and pulmonary problems. During the COVID-19 epidemic, awareness of deteriorating health and its long-term effects on quality of life gained momentum. The pandemic inspired people to take better care of their health. Losing weight was the main reason more people started living an active lifestyle. Downloads of various fitness applications that monitor calories, steps, heart rate, oxygen saturation, and other metrics have surged. Customised diet and exercise programmes with paid subscriptions have also increased in popularity. People are adopting an active lifestyle and continuing to utilise these applications as part of it as the trend has persisted. Therefore, the worldwide mHealth market will expand due to the rising demand for fitness apps.
Restraints: The rising worries about data theft.
Although the healthcare business has benefited greatly from digitization and automation, there is cause for concern due to the lack of adequate control over data collection, usage, transmission, and processing. In the recent past, ransom demands and virus attacks on healthcare providers' systems have occurred. These attacks are extremely harmful to patient healthcare. Such accidents cause healthcare practitioners to revert to using outdated paper systems. Wearables and mobile applications are particularly weak points for hackers to target. Patients' personal and sensitive data is not protected without an effective cyber-security infrastructure and framework. As a result, the market's expansion will be hampered by the growing concerns about data theft.
Opportunities: The development of telemedicine.
The introduction and integration of technology to improve patient care result from the rising financial investment in the healthcare infrastructure. The government is promoting the use of technology to boost productivity, service quality, and medical attention. The government is providing the necessary support for telehealth and telemedicine through funding and benevolent rules. Telehealth refers to providing medical advice and services through computerised communication and information technologies. It offers long-distance patient and practitioner communication, care, guidance, reminders, remote admissions, interventions, monitoring, and care. The Indian government's eSanjeevani healthcare app, website, or portal is a good example. The industry will develop due to supportive government initiatives supporting the adoption of telemedicine to attain universal healthcare.
Challenges: The lack of data privacy rules and regulations.
The risk of unauthorised access to patient data increases in the absence of preventive authentication procedures, endangering the physical and mental health of the patient. With technical improvements and the promotion of digitalization in the healthcare industry without sufficient rules and regulations governing patient data storage, transmission, and usage, the lack of governing power or the bad status of the legislation further exacerbates the situation. Therefore, the lack of data privacy rules and regulations will challenge the market’s growth.
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Some of the major players operating in the global mHealth market are:
• Bayer Healthcare
• Boston Scientific Corporation
• Dexcom, Inc.
• Fitbit Inc.
• Johnson and Johnson
• Koninklijke Philips N.V.
• Medtronic Plc.
• Omron Healthcare Co. Ltd.
• Samsung Electronics Co., Ltd.
• Sanofi
Key Segments cover in the market:
By Flavour
• Applications
• Wearables
By Application
• Monitoring Services
• Diagnostics Services
• Fitness and Wellness Services
• Treatment Services
• Healthcare Systems Strengthening Services
• Others
By End User
• Healthcare Providers
• Patients
• Health Insurance Providers
• Pharmaceuticals Companies
• App Companies
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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