WASHINGTON, July 28, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Global mHealth Market has been steadily growing over the years due to the growing relevance of healthcare and well-being and technological improvements. There is a greater need for protection against chronic diseases in developing economies like China, and India, and in developed economies like Europe where the industrial sector is growing. In order to assist people, avoid potential infections and successfully manage their health, there will likely be an increase in demand for mHealth solutions, such as wearable technology, health apps, and telemedicine services.
According to Vantage Market Research, the global M Health Market is estimated to be valued at USD 125.2 Billion by 2030 and is expected to exhibit a CAGR of 10.23% during the forecast period 2023 to 2030. The M Health market grew to USD 57.2 Billion in 2022.
The mHealth market plays a crucial role in public health and safety, particularly in times of infectious disease outbreaks such as the COVID-19 pandemic. mHealth solutions act as a barrier in preventing the severity of diseases, protecting both individuals and the community at large. These solutions are utilized by healthcare professionals, essential workers, and the general public in various settings. The significance of the mHealth market can be observed in its contribution to reducing chronic diseases, ensuring the safety of vulnerable populations, and facilitating the secure delivery of essential healthcare services. mHealth technologies are instrumental in safeguarding public health and emerged as essential tools in promoting health and well-being on a broader scale.
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Key Highlights
- By product & services, the high demand for the M Health Services segment will increase the Disposable Face Mask Market over the forecast period 2023 to 2030,
- By End users, the Healthcare Provider segment dominated the largest market share globally during the forecast period 2023 to 2030,
- By distribution channel, the offline segment holds the largest share across the globe in the forecast period 2023 to 2030,
- In 2022, North America dominated the market with the highest revenue share of 40.30%,
- The Asia Pacific will grow at a high CAGR from 2023-2030.
The global mHealth industry offers a wide variety of solutions to satisfy consumer preferences and demands. There are several mHealth applications and technologies available to serve diverse healthcare needs. These include of telemedicine platforms, wearable technology, health monitoring apps, and other things. MHealth service providers are always creating new and cutting-edge solutions to satisfy changing healthcare demands. Customers have a variety of options in this competitive industry, allowing them to choose the mHealth solutions that best suit their preferences and needs.
Factors affecting the growth of the MHealth Market Industry
Several factors can affect the growth of the disposable face mask industry. Some of these factors include:
- Rising Smartphone Adoption: The mHealth market has expanded tremendously as a result of the widespread use of smartphones and other mobile devices. Smartphones are the main device used to access mHealth apps and services, allowing users to keep track of their health, have access to medical data, and contact medical specialists. Global smartphone adoption is still increasing, which widens the potential user base for mHealth solutions and fuels market expansion.
- Rising Chronic Disease Burden: There is a demand for remote patient monitoring and self-management solutions due to the rising prevalence of chronic diseases like diabetes, cardiovascular disease, and respiratory disorders. Improved patient outcomes and lower healthcare costs are the results of using mHealth technology, which provides practical and affordable solutions to monitor and manage chronic illnesses.
- improvements in Wireless Technology: The 4G and 5G networks, among other wireless improvements, have greatly increased connectivity and data transfer rates. This has made it easier for wearable technology and smartphone apps to seamlessly transfer health data to healthcare practitioners, enabling real-time monitoring and analysis. The development of telemedicine, remote patient monitoring, and other mhealth services has been facilitated by faster and more dependable wireless networks.
- Supportive Government Initiatives: Across the globe, numerous governments are recognizing the potential of mHealth to enhance results and access to healthcare. They are doing this by creating initiatives and policies that encourage the adoption of mHealth solutions. These programs include grants for research and development, legislative frameworks, and financial incentives for medical professionals to use mHealth technologies.
Competitive Landscape
The market for MHealth is fragmented, with numerous large technology companies that have made significant strides in the mHealth space, there is also a large number of emerging startups and smaller companies introducing innovative solutions. To meet consumer demand, players are concentrating on R&D to broaden their product offerings, which will spur further expansion of the health sector. Major players have options to adapt to consumers' changing wants and acquire a competitive edge in the market as a result of this development.
The competitive landscape of the market has also been examined in this report. Some of the major players include:
- AT&T (U.S.)
- Samsung Electronics Co. (South Korea)
- Allscripts Healthcare Solutions (U.S.)
- Apple Inc. (U.S.)
- Orange (France)
- mQure
- Qualcomm Technologies Inc. (U.S.)
- SoftServe (U.S.)
- Google Inc. (U.S.)
- Airstrip Technologies Inc. (U.S.)
- Telefonica S.A. (Spain)
- Vodafone Group (UK)
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Top Trends in Global M Health Market
Several significant trends that are influencing the future of healthcare delivery are being seen in the global mHealth sector. The COVID-19 epidemic and the demand for remote healthcare services like telemedicine and virtual care technologies are some of them. Additionally, the market is seeing an increase in wearable technology and health-tracking applications, enabling people to actively monitor and control their health. Furthermore, improvements in data analytics and artificial intelligence (AI) are transforming the mHealth industry by offering personalized healthcare insights, better diagnosis, and treatment planning. The emphasis on data privacy and security as well as the integration of mHealth with Internet of Things (IoT) devices are other major trends that are propelling the market's expansion.
Regional Analysis
The North America region held a significant revenue share, dominating the mHealth market. The healthcare infrastructure in North America is technologically state-of-the-art, and digital health technologies are widely used. The mHealth market's presence of big players and tech giants, along with significant investments in R&D, adds to the region's revenue growth. The industry in North America has also been boosted by favorable government efforts and policies that foster the adoption of digital health, as well as reimbursement regulations for telehealth services. As a result of the COVID-19 epidemic, telemedicine, and remote monitoring solutions have been adopted more quickly, driving up demand for mHealth services.
The Asia Pacific region is expected to have rapid expansion in the mHealth market. This forecast is influenced by a number of factors. There is a substantial market opportunity in the area due to its vast and quickly growing population. The potential for mHealth solutions to reach a large user base is growing with rising smartphone adoption and internet access. Chronic diseases are becoming more prevalent in Asia Pacific nations like China, India, and Japan as a result of changing lifestyles, urbanization, and aging populations. Due to this, mHealth technologies that allow for remote monitoring, telemedicine consultations, and health management are in high demand. Governments in the area are becoming more aware of mHealth's potential to enhance healthcare outcomes and access. To promote adoption, they are putting in place enabling laws, structures, and financial programs.
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Report Scope
| Report Attribute | Details |
| Market Value (2022) | USD 57.2 Billion |
| Market Size (2030) | USD 125.2 Billion |
| CAGR (from 2023 to 2030) | 10.23% |
| Historic Period | 2018 to 2021 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers
There is a demand for remote patient monitoring and self-management options due to the rising prevalence of chronic diseases globally and the aging population. Using mHealth technologies, people may track their health, access healthcare data, and participate in virtual consultations, which improves outcomes and lowers healthcare costs. Technological improvements, particularly in wireless connectivity, have made it possible for wearable technologies and mobile apps to seamlessly transmit health data to healthcare practitioners, enabling real-time monitoring and analysis. Thirdly, the market for mHealth has grown greatly due to the growing use of smartphones and other mobile devices, which make it easy for people to access mHealth services and apps.
Market Restraints
The mHealth market has enormous growth potential, but there are several significant challenges that could impede its progress. Data privacy and security concerns provide a serious obstacle. Confidentiality and protection of patient data are essential since mHealth entails the gathering and transfer of sensitive health information. To allay these worries and foster user trust, more laws and strong security measures are required. Interoperability concerns might obstruct smooth data interchange and care coordination between various mHealth platforms and systems. To get through these obstacles, standardized efforts and better technology integration are required. Additionally, the widespread adoption and accessibility of mHealth solutions may be constrained by the absence of healthcare infrastructure and resources in some areas, particularly in developing nations.
Market Opportunities
The market for M Health is brimming with possibilities for expansion and improvement. The adoption of telemedicine and virtual care solutions, expansion of wearable devices and remote monitoring technologies, integration of AI and ML, and a focus on preventative healthcare and wellness all present major prospects for growth and innovation in the mHealth market. These possibilities have the power to transform the way healthcare is provided, enhance patient outcomes, and to enable people to take charge of their health and well-being.
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Report Segmentation of the Global MHealth Market
Product & Service Analysis
The industry is dominated by mhealth services in terms of products and services. This dominance can be attributed to the wide range of services offered, including remote patient monitoring, telemedicine consultations, sickness management, medication adherence, and health coaching. People can communicate with medical professionals remotely and get specialized care with the use of mHealth services. These services provide cost-effective and readily available healthcare treatments. The demand for these services has grown as a result of the rising prevalence of chronic diseases, the requirement for remote healthcare during the COVID-19 pandemic, and the growing importance of proactive health management. mHealth services are what are driving the growth and impact of the mHealth industry due to their growing significance in the healthcare ecosystem.
End-User Analysis
Healthcare providers are predicted to dominate the mHealth market throughout the forecast period based on end-user analysis. This dominance is brought on by the expanding adoption of mHealth solutions by healthcare organizations and experts. Healthcare professionals can benefit greatly from mHealth technologies, including improved data management, telemedicine consultations, faster patient communication, and increased care coordination. These resources aid healthcare professionals in making better clinical decisions, streamlining workflows, and delivering more easily accessible, patient-centered care.
Browse market data Tables and Figures spread through 141 Pages and in-depth TOC on mHealth Market Forecast Report (2023-2030).
Market Segmentation
By Product & Service
- mHealth Apps
- Connected Medical Devices
- mHealth Services
By End-User
- Healthcare Providers
- Healthcare Payers
- Patients/Consumers
- Other End Users
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Recent Development of the Global MHealth Market
- February 2023: Vodafone (UK) collaborated with Charité Berlin (one of Europe’s largest university hospitals), Leipzig University Hospital, and 16 other leading research and medical experts across Germany to explore future medical applications using 6G.
- January 2023: Koninklike Philips (Netherlands) partnered with Masimo (US). The partnership aimed to augment patient monitoring capabilities in home telehealth applications with the Masimo W1 advanced health-tracking watch.
- January 2023: Garmin (US) launched Instinct Crossover in India, which delivers Garmin's full suite of wellness features, including Sleep Score and Advanced Sleep Monitoring, and Health Monitoring activities.
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