mHealth Market Trends, Size and Growth Analysis By Therapeutics(respiratory, mental and neurological disorders, fitness & lifestyle) By Application(monitoring, diagnosis & treatment, wellness & prevention), Forecast to 2022
mHealth Market Insight
The mHealth market size seems to be making remarkable progress worldwide, observes Market Research Future (MRFR). The mHealth market is all set to advance at a stellar rate of 36.5% and touch USD 21.71 Billion by 2022. We will provide COVID-19 impact analysis with the report, along with an in-depth review post the coronavirus disease outbreak.
mHealth technologies have emerged as the most effective options since the COVID-19 outbreak, to monitor individuals affected by the SARS-CoV-2 infection. mHealth is being extensively used for predicting the symptom growth in the patients for faster intervention. Telehealth and mobile health technologies or mHealth have garnered the attention in the healthcare industry, especially following the worldwide lockdown and the constant efforts to curb the spread of the pandemic.
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mHealth technology, post the advent of the novel coronavirus, is being deployed by clinicians to intervene quickly to attain accurate clinical outcomes. The mhealth apps market size has also been gaining traction across the globe on account of the increasing use of smartphone applications to obtain self-reports as well as wearable sensors to enable collection of physiological data.
Rise of mobile health in recent years has been quite significant, given the escalating need for real-time patient and doctor communication along with the rising demand for apps in remote areas that do not have access to medical specialists. The rising uptake of wireless technologies in portable healthcare devices, cost effectiveness, high convenience and the sharp surge in lifestyle diseases are a few other growth boosters in the global mHealth market. The healthcare industry displays a strong growth potential for the IT sector, backed by the favorable government initiatives around the world. Lack of digitization and the presence of substandard healthcare facilities across poor economies could undermine the mHealth market growth in the following years.
However, the mobile health market size can receive a significant boost from the rising trend of preventive healthcare and the surge in funding on mHealth start-ups. With the mounting number of digital start-ups, mobile healthcare applications are gaining momentum in the healthcare sector. Armed with effective business model and strategic collaborations and alliances, many firms in the global mHealth market strive to develop robust revenue channels. To cite an instance, in September 2020, Samsung and Centene joined forces to equip health centers with telehealth tools to enable them to access remote areas. Some of these telehealth tools are smartphones and tablets, coupled with 90 days of free advanced wireless service.
mHealth Market Segmental Analysis
mHealth market can be considered for therapeutics and applications.
Therapeutic-based mHealth market categories are respiratory, diabetes, fitness & lifestyle therapeutics, mental and neurological disorders, and more.
Diagnosis & treatment, monitoring, healthcare management, education and awareness, remote data collection, wellness & prevention, and others are the key application areas of mHealth. It is projected that the monitoring segment can procure a share of 61.8% in the global mHealth market during the review timeline.
mHealth Market Regional Insight
APAC/Asia Pacific and Europe along with the Americas and MEA/Middle East & Africa are the main mHealth market.
Americas seems to be unbeatable, in terms of growth, having gained significantly in the past few years owing to the considerable digital advancements in healthcare. The escalating use of wearables among consumers and the growth of the health-conscious populace have also propelled the mHealth market position in the region. Most of the digital healthcare start-ups in the United Sates adopt the B2C business approach, which facilitates quicker penetration in the primary healthcare system. Besides, the mounting use of electronic health records/HER as well as e-prescription systems across healthcare centers also works in the mHealth market’s favor.
APAC is the second biggest gainer in the global mHealth market, as a result of the soaring demand for mobile health applications among healthcare professionals to remain updated about the latest trends and the rising use of advanced technologies across the healthcare sector. Advancements in network infrastructure, rapid surge in 3G and 4G technologies, and the expanding population of mobile subscribers also help with the market expansion in APAC. Fast burgeoning geriatric populace in Japan and China combined with the intensifying cases of chronic illnesses also boost the uptake of mHealth technologies within the region.
mHealth Market Renowned Contenders
Some of the most renowned contenders in the global mHealth market include Johnson & Johnson, Laboratory Corporation of America Holdings, Alivecor INC, Jawbone INC, GE Healthcare, Google INC, Athenahealth INC, Apple INC, Agamatrix INC, Philips Healthcare, AT&T, INC, Biotelemetry INC. (CARDIONET), to name a few.
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