Global mHealth Industry
M-Health or mobile health is a component of eHealth. This report contains a detailed overview of the Comprehensive research methodology of “Global mHealth Market”. The global mHealth market size is expected to reach USD 151.57 billion by 2025, progressing at a CAGR 25.7% over the forecast period. It is defined as a medical health practice supported by wireless devices, which include mobile phones, wearable medical devices, patient monitoring devices, sensors, and personal digital assistants.mHealth refers to the collection of medical data and the delivery of healthcare services via mobile phones and tablets. On the basis of offering, the mHealth market can be divided into mHealth apps, connected devices, and services.
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By recording and sharing medical data, connected devices and mHealth apps also lower the healthcare expenditure by minimizing hospital readmissions, clinic revisits, medical tests, and other physical examinations. Increasing emphasis on patient-centric healthcare delivery, rising adoption of connected devices and mHealth apps, and supportive government regulations are the major factors that are augmenting the market growth. Besides, low cost and effective utility of medical devices, rising usage of smartphones, tablets and other mobile platforms for healthcare are further motivating the market.
- Low cost and convenience of medical devices.
- Technological innovations.
- Integration of wireless technologies.
- Affordability of smartphones.
- Government initiatives and increasing lifestyle diseases.
Are some of the reasons for the growth of this market.
Growing inclination towards preventive healthcare and subsequently rising subscription to mHealth apps have been working in favor of the market. mHealth apps exhibit several features that offer healthcare benefits to healthcare providers as well as patients. mHealth apps provide access to health-related information. mHealth apps also ensure continuous communication between patients and providers, thereby allowing providers to diagnose, recommend, and monitor patients without even seeing them in person.
Among the several types of connected devices available are blood pressure monitors, blood glucose monitors, multiparameter monitors, echocardiography (ECG) monitors, pulse oximeters. While blood pressure monitors will still be the market leader during the forecast period, blood glucose monitors will witness the highest CAGR (31.9%) due to the increasing number of diabetes patients.
Factors such as data security issues associated with the use of wireless devices and rising incidences of data theft are estimated to be the major restraints in the growth of the market. Less internet penetration in the underdeveloped economies, lack of a standardized regulation and accuracy problem of devices are some restrains to the market.
Some of the players contributing to the growth of the global mHealth market include Apple, Athena Health, Boston Scientific, Cerner Corporation, Cisco Systems, Fitbit, GE Healthcare, Johnson & Johnson, Phillips Medtronic Omron, and Sanofi. These companies are focusing on product innovations, expansions, M&As, and finding new markets or innovating in their core competency in order to expand their individual market share.
Moreover, numerous companies such as Omron and Vive have developed smartphone applications, which can be configured to their devices to keep a record of the reading and other important data. Wink Health, HealthTap, Mindbloom, and Jawbone are some major start-ups in the mHealth market that had raised funding through various sources.
Global MHealth market is segmented on the basis of the following segments:
- Mobile operators
- Device vendors
- Content players
- Healthcare providers
- Monitoring services
- Independent aging solutions
- Chronic disease management and post-acute care services
- Diagnosis services
- Healthcare systems strengthening services
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Blood glucose meters
- BP monitors
- Pulse oximetry
- Neurological monitoring devices
- Apnea and sleep monitors
- Cardiovascular diseases
- Respiratory diseases
- Neurological diseases
The global mHealth market is analyzed on the basis of the geographical regions that are contributing significantly to the growth of the market. North America is estimated to be the dominating region in the global mHealth market owing to the high penetration of mobile phones and the internet in the region. The Asia Pacific is considered to be the fastest-growing region of this market. The growth of the market in the region is attributed to the rapidly developing healthcare infrastructure in emerging economies such as India and China, rising pressure to curtail healthcare delivery cost and rising geriatric population.
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