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
Publication Month: Mar 2022 | Report Code: TIPHE100000821 | No. of Pages: 157 | Category: Healthcare IT | Status: Published
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.
Mobile health (mHealth) is a technique that includes the use of mobile commination devices, such as mobile phones, tablets, personal digital assistants (PDAs), and other wireless devices for distributing health services and information. mHealth unlocks new opportunities for improving the monitoring of chronic conditions and helps in developing the prevention and treatment of remote patients`. mHealth enables healthcare providers to offer consultation services, 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 users. mHealth is also a collection of means that can be used to enhance educational services. It includes instruments, apparatus, machines, or software (including mobile applications) that are involved in the delivery of healthcare services. The increasing adoption of smartphones and other mobile platforms, and the exponential spread of COVID-19 contribute to the market progress. Further, growing awareness regarding mHealth and rising government funding for the development and adoption of virtual medical platforms are likely to foster the mHealth market growth during the forecast period. However, security and privacy issues restrict the market growth.
Strategic Insights
mHealth Market
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The mHealth market in the Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to the rise in prevalence of various diseases and conditions, along with the significant increase in population. China, India, Australia, and Japan are expected to be the major contributors to the regional market growth.
Market Insights
Rapid Spread of COVID-19 Fuels mHealth Market Growth
The COVID-19 outbreak has become a threat to public health. Various emergency actions were taken by country governments to limit the spread of this disease; of these, the COVAX initiative by World Health Organization (WHO) was aggressively enacted. Vaccination against COVID-19 has been made mandatory for people across the world. Moreover, governments in different countries have instructed their travel and tourism departments to thoroughly check the vaccination status of travelers coming to the respective countries.
Telemedicine is a rapidly expanding field of medicine and an alternative method for delivering quality medical care to patients, who now have various healthcare services at their fingertips. With the COVID-19 pandemic, there has been an increase in the use of telemedicine to connect patients and healthcare providers, which has been made possible by mobile health (mHealth) applications. The vigorous growth of mobile technologies has paved the way for the proliferation of mHealth; there is increasing evidence from WHO that suggests mHealth has improved patient lives, especially during the COVID-19 pandemic, as a majority of the population was reluctant to step out of their quarantine facilities and homes for any need. Moreover, the possible cost-effectiveness of medical practices for consumers/patients contributes to the mHealth market growth.
Devices-Based Insights
The mHealth market, by device, is segmented into insulin pump, BP monitor, glucose monitor, personal pulse oximeter, and other devices. The insulin pump segment held the largest share of the market in 2021. However, the personal pulse oximeter segment is anticipated to register the highest CAGR in the market during the forecast period.
mHealth Market, by Device – 2021 and 2028
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Service-Based Insights
By service, the mHealth market is segmented into remote monitoring, diagnosis, treatment, health support, fitness & wellness, and other services. The remote monitoring services segment held the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period. Health remote monitoring systems (HRMS) benefit by assist in the reduction of patient load at hospitals and health centers. Patients that would most benefit from HRMS amid the COVID-19 pandemic are those with chronic diseases, older adults, and patients that experience less severe symptoms recovering from SARS-CoV-2 infection.
Organic strategies are commonly adopted by companies to expand their footprints and product portfolios in the market. The mHealth market players have implemented inorganic strategies such as mergers and acquisitions, and partnerships. In February, 2020, DexCom signed a commercialization agreement with Insulet Corporation, a medical device company. Under this agreement, the companies aim to offer the Omnipod Horizon System for automated insulin delivery by combining the current and future continuous glucose monitoring systems (CGM) of Dexcom with the trusted tubeless insulin delivery Pods of Insulet.
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
- AgaMatrix Inc.
- Halodoc
- SehatQ
- Good Doctor
- klikdoktor.com
- Alodokter
- Hell Health Group Pte. Ltd.
- DOKTERONLINE
- RS. Awal Bros
- Smarter Health Pte Ltd.
- Siloam Hospitals Group
- DokterSehat
Frequently Asked Questions
The List of Companies - mHealth Market
- Allscripts Healthcare LLC
- Koninklijke Philips N.V.
- Medtronic
- Boston Scientific Corp.
- athenaheath Inc.
- Honeywell Life Care Solutions
- Cisco Systems Inc.
- Omron Corp.
- Masimo
- AgaMatrix Inc.
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- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global mHealth market, thereby allowing players across the value chain to develop effective long-term strategies.
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- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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