mHealth Market

Global mHealth Market Size (2024 to 2029)

The global mobile health market is forecasted to reach USD 391.33 billion by 2029 from USD 85.20 Billion in 2024, showcasing a compound annual growth rate of 35.65% during the forecast period. Fitbit, Apple Inc., and DEXCOM are expected to occupy most of the market share globally during the forecast period.

mHealth is a branch of eHealth dealing with the collection of patient data. The patient data is collected and stored using the mHealth Application and is reviewed by healthcare professionals to determine the severity of the medical condition. Wireless electronic devices like mobiles, wearable medical devices, and others play a crucial role in collecting patient data. The collected data is stored on a remote cloud using mHealth applications. In recent times of the rapid advances in digitalization and the adoption of I.T. services in the healthcare industry, mhealth apps are of growing preference among populations.

Current Scenario of the Global mHealth Market

mHealth is a general term for mobile phones and other wireless technology in medical care. The most common application of mHealth is using mobile devices to educate consumers about preventive healthcare services. The population-level benefits of the mHealth apps include expanding access to healthcare services, developing more cost-effective treatment pathways, and improving communication with healthcare professionals. The global market accounted for notable growth in recent years as society is technology-driven in all industries. The global market is anticipated to grow significantly during the forecast period. Various benefits of mHealth apps, like improved efficiency with rapid healthcare delivery, reduction in healthcare costs, and ease of convenience to use in a limited time, are majorly accelerating the adoption of these technology-based apps among the people. Nearly two-thirds of Americans own a smartphone, which means that more people have the ability to monitor and manage their health. Certain health apps can be informative and educational, enhancing people's basic medical knowledge. The surge in the adoption of digital health, easy availability of fitness trackers, and escalating technological advancements will boost the market growth opportunities.

MARKET DRIVERS

The growing penetration of smartphones and an increasing number of initiatives supporting the adoption of mHealth promote market growth.

The growing adoption of mobile technologies, an increasing number of mobile health applications, new opportunities for mobile health integration into existing eHealth systems, and continued growth in mobile cellular network coverage are driving the growth of the global market. The growing penetration of the Internet and cell phones is significantly contributing to the market's growth rate. In many low- and middle-income countries, the penetration of smartphone networks surpasses other infrastructure, such as paved roads and electricity, and dwarfs the fixed deployment of the Internet.

The growing patient population of chronic diseases is propelling the global market growth.

Promising outcomes have been reported for managing chronic diseases, improving chronic pulmonary disorders and symptoms of heart failure, and reducing death. According to WHO, the Global Burden of Disease Study estimates a prevalence of 251 million COPD cases worldwide in 2016. In low- and middle-income countries, more than 90% of COPD deaths occur. An estimated 17.9 million people died in 2016 from CVDs, representing 31% of all global deaths. About 85% of these deaths are due to heart attack and stroke. In addition, in low- and middle-income nations, the prevalence of diabetes has risen more rapidly than in high-income countries, with an estimated 1.6 million deaths by diabetes in 2016.

Significant cost savings in healthcare delivery is another crucial aspect supporting the global mobile health market.

These networks are increasingly advanced, providing higher and higher data transfer rates alongside cheaper and more efficient handsets, improving how health services and information are accessed, distributed, and handled. Thus, the chance for greater personalization and citizen-focused public health and medical care comes with improved accessibility. In addition, they are reducing premature mortality from co-morbidities with non-communicable diseases. Other possibilities for mobile devices include raising awareness about the primary risk factors for non-communicable diseases and improving the diagnosis and monitoring of illnesses, self-care and home care, and overall chronic illness management. These are some driving factors that boost the market.

The increased use of wearable medical devices and beneficial government policies drive the global market growth. Governments express interest in mHealth as a complementary strategy for improving health systems in low- and middle-income countries and achieving the Millennium Development Goals (MDGs) related to health. mHealth is used in maternal and child health and poverty-related disease burden reduction programs, including HIV/AIDS, malaria, and tuberculosis (T.B.).

MARKET RESTRAINTS

The primary factors restraining the global market are data privacy and security issues. Most health apps raise data privacy concerns as the privacy policies lag in these, and even if privacy policies are present, users may need to read more carefully, which leads to a lack of understanding and use of patient data. Lack of regulation and approval is another factor hampering people's adoption of mHealth apps, restricting market share growth. According to a study published in "The Journal of the American Society of Hypertension," only 3% of the top 107 apps that used the terms "hypertension" and "high blood pressure" were developed by healthcare agencies. The FDA had approved no apps, although 14% could turn into a medical device to measure blood pressure. The study stated that such apps reveal an "urgent need for greater regulation and oversight in medical app development."  Most apps provide inaccurate information as the values vary when tested, such as heart rate, stress, blood pressure, and others, which is expected to hinder the market growth due to a loss of trust among the people. The need for awareness and the expensive subscriptions for high-quality and premium apps will impede the market size growth due to limited access to the low-income population. 

REPORT COVERAGE

SEGMENTAL ANALYSIS

By Type Analysis

The blood pressure monitor is predicted to lead the global market due to the rise in the number of people suffering from various disorders. On the other hand, the segment is expected to grow because of the growing significance of remote care services and the continuous adoption of I.T. care services in the healthcare industry, leading to more technological advancements in healthcare services. Additionally, the rising preference towards home care services, especially after the pandemic outbreak, has led more people to use smartphones, further promoting the segment's rise. 

The glucose meter segment is estimated to have significant growth in the forecast period. The growing number of diabetes patients worldwide and the prevalence of personalized medicine are lucratively accelerating the segment's growth rate.

However, the pulse oximeter segment also has a slightly inclined growth rate during the forecast period.

By Application Analysis

The health and fitness segment is anticipated to register a significant share of the market during the forecast period. The rise in the awareness to stay healthy by doing regular exercises using applications available in Android and iOS systems is significantly promoting the demand of this segment.

In 2023, the chronic care management segment was the second-largest segment in the global market. It was estimated to register a healthy CAGR during the forecast period due to the growing incidences of chronic diseases like high blood pressure, diabetes, cancer, etc. In addition, weight loss, women's health, personal health records, and medication segments have sustainable growth opportunities in the forecast period.

By Services Analysis

The remote monitoring segment had the majority share in the market in 2023. Therefore, adopting the latest technology in healthcare centers is a crucial driving factor for extensive growth. In addition, the rising preference of the patient population towards the convenience of remote care is helping the segment grow. Furthermore, remote care services are especially beneficial to the geriatric populations who have difficulty going for regular hospital visits; therefore, the rising geriatric population is helping the segment advance. 

The fitness and wellness segment is deemed to have the highest CAGR during the forecast period with the launch of several fitness-related applications. In addition, the growing use of smartphones is accelerating the growth rate of these segments.

REGIONAL ANALYSIS

The North American region held the major share of the worldwide market in 2023 and the same trend is predicted to continue throughout the forecast period. During the forecast period, the North American region is estimated to grow at a promising CAGR owing to the introduction of further technological developments in healthcare centers. The U.S. led the North American market in 2023 and registered the most significant share. Growing awareness towards using mobile applications is to surge the market's growth. In addition, during the spread of COVID-19, this Region is making the best use of mHealth services available.

The Asia-Pacific region will dominate the global market during the forecast period. The increasing geriatric population is one of the significant factors boosting the Asia-Pacific regional market growth. Besides, improving support from the I.T. industry is likely to bolster the market's growth. As a result, India and China are the major countries contributing to the highest share of the regional market.

Europe accounted for a substantial share of the global market in 2023 and is expected to hit the highest CAGR during the forecast period due to the escalating healthcare expenditure. The United Kingdom and Germany accounted for a significant share of the European market in 2023 due to the increasing research and development centers. In addition, the launch of user-friendly applications showing positive results in emergency cases is leveling up the market's growth rate.

The Latin American region is anticipated to witness a steady CAGR in the coming years owing to the rapid adoption of mHealth applications by the Latin American population and growing disposable income. Brazil and Mexico are predicted to hold a leading share of the Latin American market during the forecast period.

The market in Middle East and Africa is predicted to have significant growth opportunities during the forecast period. Therefore, the focus on raising awareness of the benefits of using healthcare applications is solely to leverage the market's growth rate in this Region.

LIST OF KEY PLAYERS IN THE GLOBAL MARKET

A few of the notable companies operating in the global mHealth market profiled in the report are Cardionet Inc., iHealth Labs Inc., QUALCOMM life, Vodafone, Dexcom, Inc., Fitbit, Inc. (Twine Health, Inc.), Koninklijke Philips N.V. (Philips), Livongo Health, Inc., Medtronic Plc., Omada Health, Inc., Omron Corporation (Omron Healthcare, Inc.), Samsung Electronics Co., Ltd and Welldoc, Inc.

Recent Developments

• In October 2023, Cedars-Sinai, a leading healthcare provider, launched the Cedars-Sinai Connect app. This innovative mobile health application utilizes artificial intelligence technology to provide virtual care solutions for various clinical issues. The app allows patients to schedule primary care visits on the same day and offers 24/7 virtual access to medical specialists for urgent treatment. This development indicates the growing role of technology in healthcare and its potential to revolutionize how we access and receive medical care.
• In January 2023, Koninklijke Philips partnered with Masimo to augment patient monitoring capabilities in home telehealth applications with the Masimo W1 advanced health-tracking watch.
• In January 2023, Garmin launched Instinct Crossover in India, which delivers Garmin's full suite of wellness features, including Sleep Score, Advanced Sleep Monitoring, and Health Monitoring activities.
• In March 2023, Astellas Pharma Inc. announced that it has agreed with Roche Diabetes Care Japan Co., Ltd. to develop and commercialize Roche Diabetes Care's world-owned Accue-Chek Guide Me blood glucose monitoring system with advanced accuracy as a combined medical product with Blue Star.
• In November 2022, Hartford HealthCare entered into a long-term partnership with Google Cloud to advance healthcare systems with improved data analytics, digital transformation, and delivery care and access enhancement.
• In March 2022, Epic Systems Corporation launched Garden Plot, which provides small independent healthcare groups access to Epic software solutions and an interoperability network.   

DETAILED SEGMENTATION OF THE GLOBAL MHEALTH MARKET INCLUDED IN THIS REPORT

This market research report on the global market has been segmented by Type, Application, services, and Region.

By Type

• Blood Pressure Monitor
• Glucose Meter
• Pulse Oximeter

By Application

• Chronic Care Management
• Health and Fitness
• Weight Loss
• Women's Health
• Personal Health Record
• Medication

By Services

• Remote Monitoring
• Consultation
• Fitness And Wellness
• Prevention

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa