“Growing adoption of mHealth apps among patients suffering from chronic diseases drive the growth of the global mHealth market. North America contributed the highest share in 2019, and will maintain its dominance throughout the forecast period.”
The global Mobile Health market generated $46.04 billion in 2019, and is estimated to reach $230.41 billion by 2027, registering a CAGR of 22.3% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing adoption of mHealth apps among patients suffering from chronic diseases and surge in demand for home healthcare services drive the growth of the global mHealth market. However, security and privacy issues associated with individual information shared on mHealth apps is expected to restrain the growth of the market. On the other hand, increasing adoption of artificial intelligence and mobile technology such as 5G is expected to create new opportunities for the market players.
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- The demand for mhealth services is expected to increase during Covid-19 pandemic due to growing adoption digital health services to maintain social distancing.
- The revenue generated from mHealth services is likely to increase during the Covid-19 pandemic due to growing need for timely tracking of coronavirus infected individuals and their contacts. This has surged the demand for coronavirus tracing applications.
- The demand for mHealth devices such as wearables is expected to track health conditions and provide reports to healthcare professionals.
The report offers a detailed segmentation of the global mHealth market based on type, application, and region.
Based on type, the mHealth services segment contributed to the largest share in 2019, accounting for more than three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is estimated to portray the highest CAGR of 23.8% during the forecast period.
Based on application, the cardiovascular diseases segment accounted for the largest share in 2019, holding more than half of the total share, and is expected to maintain the lead position throughout the forecast period. However, the neurological diseases segment is expected to register the highest CAGR of 23.9% from 2020 to 2027.
Based on region, North America contributed the highest share, accounting for nearly two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 25.7% from 2020 to 2027.
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Frontrunners in the industry-
Boston Scientific Corporation, Bayer Healthcare, Johnson & Johnson, Dexcom, Inc., Masimo Corporation, Koninklijke Philips N.V., Omron Corporation, Medtronic plc, Sanofi, and Samsung Group.
Scope of The Report:
|Market size available for years||2019-2027|
|Base year considered||2020|
|Forecast units||Value (USD)|
|Segments covered||Type, Stakeholders, and Application|
|Geographies covered||North America, Europe, Asia-Pacific, LAMEA|
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