mHealth Market Size, Share, Growth | Industry Trends 2021, 28

mHealth Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Service (Remote Monitoring, Diagnosis, Treatment, Health Support, Fitness & Wellness, and Other Services), Devices (Insulin Pump, BP Monitor, Glucose Monitor, Personal Pulse Oximeter, and Other Devices), and End User (Mobile Operators, Devices Vendors, Health Providers, and Others), and Geography

  • Report Code : TIPHE100000821
  • Category : Healthcare IT
  • Status : Published
  • No. of Pages : 157
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The mHealth market is expected to grow from US$ 70.83 billion in 2021 to US$ 410.39 billion by 2028; it is estimated to grow at a CAGR of 28.5% during 2021-2028.

Analyst Viewpoint:

There is growing demand for health consumers owing to convenience. Wearable devices and other mobile technology allow users to continuously track and manage health data without approaching healthcare providers. Health can also bridge gaps in treatment care by allowing patients to communicate with physicians or healthcare teams through smart technology. Increasing adoption of smartphones & other mobile platforms and the mAgeing program by the World Health Organization (WHO) are the most impacting factors responsible for the mhealth market growth. However, stringent regulations and policies refrain the mhealth market from growing to its full potential. Further, development opportunities in emerging countries provide lucrative opportunities for the mhealth mhealth market to grow to its full potential during the forecast period 2021-2028.

Market Dynamics

Increasing Adoption of Smartphone & Other Mobile Platforms

Smartphones are knowing as significantly auspicious tools that helps to change the health-related behaviors and to manage chronic conditions. The smartphones also contribute to make healthcare practices more easy and manageable by, collecting health data or healthcare information and offer services to the patients. The mhealth technology is a tool that supports treatments, disease surveillance and chronic disease management. Due to the easy access and vast variety of applications, the large number of people can use these mobile health apps. Moreover, mobile health or mhealth apps providing new opportunities such as product launches and new technology to manage chronic conditions and to change health-related behaviors. Currently, the health & wellness app available through the iOS platform has doubled in the past two years. For example, the number of mobile apps has increased to meet the demand and opportunity presented by the smartphone proliferation of the mobile market. Moreover, mhealth apps can be divided into two main categories: those facilitating overall wellness, such as exercise and diet, and others specifically focus on disease management through the implementation of treatment protocols, such as medication reminders. Therefore, consumer mhealth apps targeting wellness comprise two-thirds of the mhealth app space. Rising utility of smartphones ultimately drives the mhealth market growth during the forecast period.

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mHealth Market: Strategic Insights

mHealth Market

  • CAGR (2021 - 2028)
    28.5%
  • Market Size 2021
    US$ 70.83 Billion
  • Market Size 2028
    US$ 410.39 Billion

Market Dynamics

GROWTH DRIVERS
  • Increasing Adoption of Smartphone & Other Mobile Platform
  • mAgeing Program by WHO
FUTURE TRENDS
  • Adoption of Internet of Medical Things (IoMT)
OPPORTUNITIES
  • Development Opportunities in Emerging Countries

Key Players

  • Allscripts Healthcare LLC
  • Koninklijke Philips N.V.
  • Medtronic
  • Boston Scientific Corp.
  • athenaheath Inc.
  • Honeywell Life Care Solutions
  • Cisco Systems Inc.
  • Omron Corp.
  • Masimo

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Service
  • Remote Monitoring
  • Diagnosis
  • Treatment
  • Health Support
  • Fitness & Wellness
  • Other Services
Devices
  • Insulin Pump
  • BP Monitor
  • Glucose Monitor
  • Personal Pulse Oximeter
  • Other Devices
End User
  • Mobile Operators
  • Devices Vendors
  • Health Providers
  • Others
Geography
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South and Central America
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Future Trends

Adoption of Internet of Medical Things (IoMT)

Connected devices are shaping the modern world, opening up space for greater mobility and agility, increasing efficiency and productivity, and allowing to receive and process various types of data for valuable insights. A survey conducted in 2020 by the Pew Research Center states that 21% of Americans (about 70 million people) claim to have embraced wearable tech. Hence, IoT trend eventually has paved its way to healthcare where it is known as IoMT (Internet of Medical Things).

Gradually, mhealth apps and IoMT devices like wearables are going hand in hand, providing meaningful grounds for each other. For instance, Apple watches, when introduced in 2015, were mainly used for fitness tracking, while today, Apple’s “Movement Disorder API” allows monitoring symptoms and gathering new insights into Parkinson’s disease. Nearly all IoMT devices require integration with an mhealth app, and the latter provides the app with useful data that ensures better health management.

Report Segmentation and Scope

The “Global mhealth Market” is segmented based on service, devices, and end user, and geography. Based on service, the mhealth market is segmented into in remote monitoring services, diagnosis services, treatment services, health support services, fitness & wellness services. Based on devices, the mhealth market is segmented into insulin pump, bp monitor, glucose monitor, personal pulse oximeter, and others. By end user, the mhealth market is segmented as mobile operators, device vendors, health providers, and others. The mhealth market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

Segmental Analysis:

Based on service, the mhealth market is segmented into remote monitoring services, diagnosis services, treatment services, health support services, fitness & wellness services. The remote monitoring services segment held a larger share of the mhealth market in 2022 and knockout the others segment accounting least market share. The digital age, with digital sensors, the Internet of Things (IoT), and big data tools, has opened new opportunities for improving the delivery of health care services, with remote monitoring systems playing a crucial role and improving access to patients. The versatility of these systems has been demonstrated during the current COVID-19 pandemic. Health remote monitoring systems (HRMS) present various advantages such as the reduction in patient load at hospitals and health centers. Patients that would most benefit from HRMS are those with chronic diseases, older adults, and patients that experience less severe symptoms recovering from SARS-CoV-2 viral infection.

Based on devices, the mhealth market is segmented as insulin pump, bp monitor, glucose monitor, personal pulse oximeter, and others. The insulin pump segment is anticipated to hold the largest share of the market in 2022. Moreover, the same segment is estimated to register the highest CAGR of 28.8% during the forecast period. Diabetes is a metabolic disorder that refers to the condition created by the body's inability to regulate glucose levels. It has been labelled the 'silent epidemic' for its insidious and chronic nature. The medical profession has postulated that patients could benefit from a system providing continuous glucose readings. Worldwide, the number of people with diabetes is increasing and about 90% of patients have type 2 diabetes mellitus; about one fifth of people with type 2 diabetes are on insulin treatment. The global burden of type 2 diabetes has prompted increasing efforts to develop mobile technologies for self-monitoring of blood glucose among patients with diabetes. A wide variety of home glucometers are available that are portable, inexpensive, reliable and sensitive, and which use smaller amounts of blood than in the past.

Regional Analysis:

Based on geography, the mhealth market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2022, North America held the largest share of the mhealth market, and Asia Pacific is estimated to register the highest CAGR during the forecast period. The North America mHealth market has been segmented into the US, Canada, and Mexico. All the three countries in the region are witnessing a sequential change in the mHealth market. North America has largest market share of the mHealth market, by geography.

The increasing aging populations and rising health care costs helps to grow the demand for mHealth services in the region. In particular, the US provides strong examples of technological developments and emerging opportunities in the market. Most of the mHealth apps in the US are regulated by FDA, that perform patient specific analysis and/or patient specific diagnosis or treatment recommendations in an effort to ensure that any application that could cause misinformation leading to a health risks, are moderated. The increasing use of smart phones and the prevalence of mobile technology use both clinical and lifestyle applications, helps to propel the growth the market. Moreover, the use of smart technologies helps to educate and improve the health behaviors in the region.

Asia Pacific (APAC) is the fastest-growing regional market for mHealth; and China, India, Japan, South Korea, Australia, and Rest of APAC are the major contributors to the market in this region. Asia Pacific is likely to account for over 23.26% market share of the global MHealth market in 2021 owing to the growing investments from international players in China and India, improving government support in countries, expanding base of CRO services, and advancing healthcare infrastructure. Therefore, the region holds huge potential for the MHealth market players to grow during the forecast period.

Among Asia Pacific region, China holds largest share for mhealth market. China is country with huge population and have flourished healthcare infrastructure, with rapid growth in communication. The level of social and economic developments differs between coastal area and rural areas. In the coastal areas, health resources are relatively well developed and easily available as compared to rural areas of the west. Patients in rural areas often experience more difficulties due to lack of medical care and drugs. The development of mhealth in China is relatively new.

Healthcare represents a major challenge for many countries as rising health care costs, aging populations, access disparities and chronic illnesses threaten traditional health care systems. China provide strong examples of technological developments and emerging opportunities in mobile health, or mHealth. In order to best leverage these advances, China and the United States must change operations and policy practice in order to facilitate the growth of the mHealth sector and ultimately capture the benefits of mobile technology in healthcare, these scholars assert. In both China and the United States, the cost of medical care is growing rapidly. In China rural residents primarily use mobile phones to access the Internet. According to the survey of China Network Information Center (CNNIC) in June 2013, 78.9 percent of Internet users in China’s rural areas rely on mobile phones. The gap in medical services between urban areas and rural areas is apparent in China as well. China has many people who suffer from cardiovascular issues as well as hypertension and diabetes. According to the Chronic and Non-communicable Disease Prevention and Control Center of Chinese Center for Disease and Prevention, around 33% of adults received diagnoses of hypertension and approximately 9.5% were told they had diabetes. Moreover, according to the China Health Statistics Yearbook, urban areas have more medical personnel and sick beds than rural areas. According to The State Council Information Office of the People’s Republic of China, doctors diagnose 260 million people with chronic illnesses every year. Chronic diseases account for 85 percent of the deaths in China every year. In turn, the number of people afflicted with hypertension and diabetes has increased in recent years placing pressure on the health care system and the government to respond to the crisis.

Industry Developments and Future Opportunities:

Various initiatives taken by key players operating in the global mhealth market are listed below:

  1. In February 2022, Highmark Health announced launching of “Dubbed Well360 Diabetes Management”, a virtual care program for adults with type 2 diabetes that includes personalized care management, remote patient monitoring, and telehealth.
  2. In January 2022, MVP Health Care, a non-profit payer with members in New York and Vermont, announced launching of a virtual primary and specialty care solution for Medicaid members.
  3. In February 2020, DexCom signed a commercialization agreement with Insulet Corporation, a medical device company. Under this agreement, the companies aimed to combine current and future Dexcom continuous glucose monitoring systems (CGM) with Insulet’s trusted tubeless insulin delivery Pod into the Omnipod Horizon System for automated insulin delivery.
  4. In February 2020, Johnson and Johnson announced it is partnering with Apple for a new mHealth study. The study would determine whether the Apple Watch and an accompanying app can help reduce the risk of stroke in older Americans. The Heartline Study is open to more than 40 million seniors enrolled in Medicare. The aim is to determine whether the ECG sensor and app on the Apple Watch can accurately detect the presence of atrial fibrillation, a key indicator of stroke susceptibility.
  5. In January 2020, Sanofi signed an agreement with BIOCORP, a French company specialized in the development and manufacturing of medical devices and smart drug delivery systems. The agreement was signed for BIOCORP’s smart sensor Mallya. The smart sensor will record the dosage when a person uses a SoloStar pen to administer insulin. This information would be combined with blood glucose levels recorded by Sanofi’s digital monitoring platform, which currently includes the MyStar DoseCoach blood glucose meter and the My Dose Coach smartphone app.

mHealth Market Report Scope

Report Attribute Details
Market size in 2021 US$ 70.83 Billion
Market Size by 2028 US$ 410.39 Billion
Global CAGR (2021 - 2028) 28.5%
Historical Data 2019-2020
Forecast period 2022-2028
Segments Covered By Service
  • Remote Monitoring
  • Diagnosis
  • Treatment
  • Health Support
  • Fitness & Wellness
  • Other Services
By Devices
  • Insulin Pump
  • BP Monitor
  • Glucose Monitor
  • Personal Pulse Oximeter
  • Other Devices
By End User
  • Mobile Operators
  • Devices Vendors
  • Health Providers
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Allscripts Healthcare LLC
  • Koninklijke Philips N.V.
  • Medtronic
  • Boston Scientific Corp.
  • athenaheath Inc.
  • Honeywell Life Care Solutions
  • Cisco Systems Inc.
  • Omron Corp.
  • Masimo
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Competitive Landscape and Key Companies:

    Some of the prominent players operating in the global mhealth market include AT&T, Apple Inc., Samsung Electronics Co. Ltd., Google Inc., Qualcomm Technologies Inc., Cisco Systems Inc., Medtronic PLC, Koninklijke Philips N.V., Allscripts Healthcare Solutions, and Boston Scientific Corp. These companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which provides them to serve a large set of customers and subsequently increases their market share.

    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Service, Devices, End User, and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is mHealth?

    Mobile health (mHealth) is a technique that includes the use of mobile commination devices, such as mobile phones, tablets, PDAs (personal digital assistants) and other wireless devices for distributing health services and information. mHealth unlocks the new opportunities for improving monitoring of chronic conditions and help with developing the prevention aspect of the healthcare system. mHealth enables to offer the services on consultation, care management, diagnosis, and self-management services by using information & communication technologies (ICT). It involves a wide variety of technologies and tactics to deliver virtual medical, health, and education services to the users. mHealth is a collection of means that is used to enhance care and education delivery. mHealth include instruments, apparatus, machines or software (including mobile applications) that are involved in the delivery of healthcare services.

    Who are the major players in market the mHealth Market?

    The mHealth market majorly consists of the players such as Allscripts Healthcare LLC; Koninklijke Philips N.V.; Medtronic; Boston Scientific Corp.; athenaheath Inc.; Honeywell Life Care Solutions; Cisco Systems Inc.; Omron Corp.; Masimo; and AgaMatrix Inc. among others.

    What are the driving factors for the global mHealth market across the country?

    The increasing adoption of smartphone and other mobile platforms, and COVID-19 outbreak contribute to the market progress. Moreover, growing awareness regarding mHealth, and rising government funding for virtual medical platforms are also likely to foster the growth of the mHealth market during the forecast period. However, security and privacy issues restricts the market growth.

    Which segment is dominating the mHealth Market?

    The mHealth market is analyzed in the basis of service, device, and end user. Based on service, the market is segmented into remote monitoring, diagnosis, treatment, health support, fitness & wellness, and other services. Among the services, the remote monitoring service segment was dominating the market in 2021. And based on devices, insulin pump segment held the largest market for the market and is expected to continue its dominance in the coming future.

    The List of Companies - mHealth Market

    1. Allscripts Healthcare LLC
    2. Koninklijke Philips N.V.
    3. Medtronic
    4. Boston Scientific Corp.
    5. athenaheath Inc.
    6. Honeywell Life Care Solutions
    7. Cisco Systems Inc.
    8. Omron Corp.
    9. Masimo
    10. AgaMatrix Inc.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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