mHealth Market Insight
The mHealth market should grow rapidly in the coming years, remarks Market Research Future (MRFR). MRFR also says that the mHealth market size can develop at a significant rate of 36.5% between 2016 and 2022, while touching USD 21.71 Billion by 2022.
mHealth Market Reputed Vendors
Google INC, Laboratory Corporation of America Holdings, Jawbone INC, GE Healthcare, Philips Healthcare, Johnson & Johnson, Apple INC, Agamatrix INC, Alivecor INC, AT&T, INC, Biotelemetry INC. (CARDIONET), Athenahealth INC are some of the top companies in the mHealth industry.
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Growth Boosters and Deterrents
The mHealth market is making swift progress worldwide, due to the rising demand for smartphone applications by healthcare for collecting self-reports and the latest updates. Wearable sensors are also witnessing strong demand as these devices help collect vital physiological data. Mobile health is gaining traction due to the mounting demand for real-time doctor and patient communication, especially in remote areas with no access to medical specialists.
Rising integration of advanced wireless technologies in most of the portable medical devices, the provision of high convenience and cost effectiveness, along with the escalation in lifestyle diseases also foster the mHealth market growth. The healthcare sector in recent years, has been displaying high potential for IT, thanks to the supportive government and the surge in initiatives around the globe. With that said, the presence of poor and substandard medical facilities in poor economies will work against the market growth over the following years.
On a brighter side, the mobile health market should receive a major opportunity in the form of the emerging preventive healthcare trend. Increasing spending on mHealth start-ups, soaring number of digital vendors as well as mobile applications will favor the global industry. Armed with innovative business models along with strategic alliances, players are working on strengthening their revenue channels. New launches are also some of the key strategies employed by these companies. For instance, in December 2020, Google introduced its latest mHealth application for healthcare studies, which allows medical workers and researchers to gather data from the participants via their Android phones.
mHealth Market Segmental Analysis
mHealth market has been studied extensively in the MRFR report, wherein therapeutics and applications have been considered as the key segments to present a detailed framework to the client.
Therapeutic-wise categories include diabetes, respiratory, mental and neurological disorders, fitness & lifestyle therapeutics, among others.
Diagnosis & treatment, wellness & prevention, healthcare management, monitoring, remote data collection and education and awareness are some of the top applications of mHealth. The monitoring segment can possibly acquire a 61.8% share in the worldwide market over the coming years.
mHealth Market Regional Status
APAC/Asia Pacific, Europe, America, and Middle East & Africa or MEA are the top regions considered in the study of the mHealth industry.
The American market remains unbeatable and is soaring at a considerable pace owing to the significant digital innovations in the healthcare sector. Rising sales of wearables, in line with the growing number of fitness and health-conscious consumers have fostered the market size in the region. A number of digital healthcare companies in the US use the B2C business approach, which helps fortify the penetration rate of primary healthcare system. Various healthcare centers in the region are increasingly adopting electronic health records/EHR and e-prescription systems, which is likely to work in the favor of the mHealth market.
APAC has shown substantial progress over the past years, emerging as the second biggest market for mHealth on account of heightened demand for mobile applications among medical care professionals for constant updates regarding new trends. Also, the escalating use of cutting-edge technologies by the healthcare industry, development of the network infrastructure and the dramatic increase in the use of 3G and 4G technologies benefit the APAC market. and the expanding population of mobile subscribers also help with the market expansion in APAC. The vast population of elderly people in Japan and China that suffers from various chronic illnesses will also raise the demand for mHealth technology in the future.
A researchers’ team from the Massachusetts Institute of Technology has launched a new mHealth tool that helps diagnose the presence of COVID-19 in an individual’s cough. The team made use of several samples and successfully designed an AI tool that is capable of detecting the novel coronavirus-related symptoms with 98.5 percent accuracy. As of now, the team is working on developing an mHealth app for patients and healthcare providers that can used on a tablet or a smartphone.
1 REPORT SCOPE
1.1 SCOPE OF THE STUDY
1.1.1 MOBILE HEALTH (MHEALTH): REPORT COVERAGE
1.1.2 XX RESEARCH METHODOLOGY
1.1.3 RESEARCH METHODOLOGY FOR THE GLOBAL MARKET STUDY
184.108.40.206 Geographical Analysis
220.127.116.11 Demand Side & Supply Side Analysis
18.104.22.168 Data Synthesis & Bridging
1.1.4 GLOBAL MOBILE HEALTH (MHEALTH): RESEARCH METHODOLOGY
1.1.5 KEY DATA POINT SOURCES
22.214.171.124 Data Points Taken From Secondary Sources
126.96.36.199 Data Points Taken From Primary Sources
1.1.6 REPORT DESCRIPTION
2 EXECUTIVE SUMMARY
3 MARKET OVERVIEW
3.2 MARKET DYNAMICS
3.2.1 MARKET DRIVERS
188.8.131.52 Patients Involvement In Personal Healthcare
184.108.40.206 Proliferation Of Smartphones And Wearable Devices Into Healthcare
220.127.116.11 Integration Of Wireless Technologies With Portable Healthcare Devices
18.104.22.168 Introduction Of Connected Healthcare Solutions In The MHealth Market
22.214.171.124 Benefits Of Cost Effectiveness And Patients’ Convenience
126.96.36.199 Increase In Lifestyle Disease
3.2.2 MARKET CHALLENGES
188.8.131.52 Low Rate Of Literacy And Language Barriers In Low- And Middle-Income Countries (LMICs)
184.108.40.206 Invasion Of Privacy
220.127.116.11.1 Security Breach Cases
18.104.22.168.2 Potential Risk Of Hardware Or Software Failure
22.214.171.124.3 Stringent Regulations And Standards
126.96.36.199.4 Lack Of Awareness About The Possible Applications Of MHealth
3.2.3 MARKET OPPORTUNITIES
188.8.131.52 Partnership: An Entry Mode
184.108.40.206 Introduction Of MHealth In Developing Economies
4 INDUSTRY DYNAMICS
4.1 MHEALTH MARKET TIMELINE
4.2 VALUE CHAIN OF THE MHEALTH MARKET
220.127.116.11 Device Manufacturers
18.104.22.168 App Developers
22.214.171.124 Network Providers/ Mobile Operators
126.96.36.199 Healthcare Providers And Pharmaceuticals
188.8.131.52 Consortiums, Certification, Regulations, & Standards
184.108.40.206.4 Regulatory Bodies
220.127.116.11 Food And Drug Administration (FDA)
18.104.22.168 Medical Device Regulation Act
22.214.171.124 Medical Mobile Application(MMA)
4.2.3 MHEALTH DEVICE: PORTER’S FIVE FORCE ANALYSIS
4.2.4 BARGAINING POWER OF BUYER
4.2.5 BARGAINING POWER OF SUPPLIER
4.2.6 THREAT FROM SUBSTITUTE
4.2.7 THREAT FROM A NEW ENTRANT
4.2.8 INTENSITY OF COMPETITIVE RIVALRY
5 GLOBAL MHEALTH MARKET ECOSYSTEM
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