The global mHealth Market is poised to garner a revenue of USD 361.67 Billion by 2027, expanding at a CAGR of 32.8%, according to a recent analysis by Emergen Research. mHealth market has witnessed an exponential growth in the last decade, predominantly due to the surging penetration of smartphones and hi-speed internet connectivity, and the emergence of cutting edge technologies in the medical sector. Digital health has emerged as a successful venture attracting industries and investors from various sectors.
mHealth applications accessible on smartphones allow people to manage their health, have reliable access to vital information anytime, and essentially promote healthy lifestyles. The popularity of these applications and their easy-to-use attribute have increased their adoption, thereby augmenting their development. The rising popularity of these applications has brought a dynamic change in the healthcare industry and has attracted investors for healthcare startups, thereby boosting the market demand. New emerging players are formulating innovative strategies to tap into the lucrative market.
Ineffective communication between patients and doctors is one of the primary reasons for medical errors. mHealth mobile apps bridge the communication gap and provide point-of-care tools that allow for enhanced communication, better clinical decision-making, and subsequently improve patient outcomes.
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Key Highlights from the Report:
- mHealth allows healthcare providers to seamlessly treat multiple patients without a need for workstation or office. The patient use of these apps is forecasted to expand at a CAGR of 32.9% during the projected timeline.
- Modern technology has played a pivotal part in the advent of methods and tools that allow people to maintain a fit and healthy lifestyle. Rapidly increasing awareness about the benefits of exercise and diet has increased the popularity of wearable and fitness apps. The wearable segment is predicted to expand at a CAGR of 32.5% throughout the projected timeframe.
- Remote monitoring occupied a significant share of the market in 2019. One of the primary factors contributing to this segment’s growth is the exponential increase in the diabetic patient pool, which is bolstering the adoption of remote monitoring apps, such as Gloko, to keep track of their glucose levels.
- mHealth apps are more effective and advanced and help patients across the globe. The market is gaining momentum in the Asia Pacific region. Large unchecked population in India and China and the escalating geriatric patient pool across Japan and Singapore are boosting the market growth in the region.
- Major industry players include Allscripts Healthcare Solutions, Bayer Healthcare, mQure, AT&T, Apple Inc., Omron Healthcare Inc., Samsung Electronics Corporation, Philips Healthcare, LifeWatch AG, and Cardionet Inc., among others.
- The University of California and eight digital health corporations received a funding of USD 23 million to rapidly develop reliable and advanced mHealth and telehealth platforms to cater to the growing medical need amid the COVID-19 pandemic.
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For the purpose of this report, Emergen Research has segregated the Global mHealth Market on the basis of platform, application, end-use, and region:
Platform Outlook (Revenue, USD Billion; 2017-2027)
- Wearable Devices
- Mobile Apps
Application Outlook (Revenue, USD Billion; 2017-2027)
- Education and Awareness
- Diagnostics and Treatment
- Disease and Epidemic Outbreak Tracking
- Communication and Training
- Remote Monitoring
- Remote Data Collection
End-Use Outlook (Revenue, USD Billion; 2017-2027)
- Research Centers
- Insurance Companies
- Tech Companies
- Biopharmaceutical Companies
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Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
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About Emergen Research
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