Home > > Pharmaceuticals And Healthcare > > mHealth Market Size, Share, Trends | Growth Analysis 2031
Id: CBI_1438 | Pages: 251 | Format : PDF | Published : | Author : Amit Sati | Category : Pharmaceuticals And Healthcare
mHealth Market size is estimated to reach over USD 233.23 Billion by 2031 from a value of USD 85.30 Billion in 2023 and is projected to grow by USD 95.21 Billion in 2024, growing at a CAGR of 13.4% from 2024 to 2031.
Mobile Health, commonly referred to as mHealth, encompasses the use of mobile and wireless technologies to support healthcare practices. This includes health-related mobile applications (apps) and wearable devices that monitor health indicators. mHealth applications are vast and varied, addressing needs such as remote monitoring, health information access, telemedicine, chronic disease management, public health & education, etc. They often have user-friendly interfaces, and data security, collect data in real-time, are interoperable, and can be personalized. They are commonly used in industries like healthcare, pharmaceutical, insurance companies, public health organizations, corporate wellness programs, etc.
Telemedicine is the application of electronic communication technologies, like video conferences and apps, for remote clinical services. On the other hand, Remote Patient Monitoring uses devices and apps to control the condition of patients using their vital signs at a distance. Both of these methods belong to the mHealth trend, which uses mobile and wireless technologies to offer health services away from the healthcare provider.
This combination of technologies has made it easier and more convenient to deliver healthcare, particularly when it comes to chronic illnesses, routine check-ups, and visiting the doctor for follow-up consultations. The easy access to medical professionals and the health monitoring done through mobile health tools are the primary reasons why they are so popular, the latter especially during the COVID-19 pandemic when physical visits were not possible.
Thus, Remote Patient Monitoring (RPM) and the adoption of telemedicine drive the growth of the market.
Preventive healthcare is the care that focuses on doing things to prevent diseases and maintain good health, rather than just curing an illness if one occurs. Mobile health technologies are the ways that give individuals the power to be in charge of their health and the tools they need to participate.
mHealth innovation makes available functions such as health monitoring, personalized health assessments, reminders for check-ups and vaccinations, and information for medical purposes. The preventive approach is a perfect match for the aspirants of preventive health care, and mHealth has thereby been irreplaceable to the broader healthcare sector.
Since these devices aid in preventing chronic diseases by providing preventing healthcare they drive the global mHealth market growth.
Interoperability is the ability of various healthcare systems, applications, and devices to communicate, share, and use data most efficiently. Such problems come up when mobile health applications or devices/ gadgets or even the already-existing healthcare systems are not able to integrate electronic health records and health information systems properly. These bumps in the road cause the interruption of the fast communication of data between patients, healthcare providers, and various healthcare facilities, resulting in data isolation and possible breakdowns in patient care.
Therefore, it can be concluded that issues related to interoperability within applications can restrict market growth.
AI, big data, and mobile health(ABMM) are the current buzzwords in the tech world with the large chunks of data fetched by the mHealth gadgets and applications processed through AI algorithms, resulting in predictive analytics, health tracking, and more individualized care, making life the most calm. Big data analytics algorithms can identify the patients' conditions from different sources of health data and offer them life-saving lessons on patient behavior, sickness progression, and treatment efficacy.
Owing to the largest amount of data processing and rapid technological development, AI systems have a chance to learn and develop targeted medicines and treatment plans. AI and big data intercepting mobile health applications can be used to an extent resembling personalized health recommendations, early identification of potential health problems, and the treatment of cognitive diseases and disorders.
Thus, big data analytics can help healthcare providers understand population health trends and tailor public health initiatives accordingly.
Based on Products & Services, the mHealth Market has been trifurcated into mHealth Devices (Wearable Fitness Sensor Devices, Blood Pressure Monitors, Blood Glucose Monitors, Apnea and Sleep Monitors, Neurological Monitors, Cardiac Monitors, Heart Rate Meters, Pulse Oximetry, and Others), mHealth Services (Treatment Services, Diagnostic Services, Prevention Services, Monitoring Services, Others), and mHealth Apps (Remote Monitoring Apps, Medical Apps, Fitness Apps, and Diagnostic Apps).
Trends in the Products & Services:
The mHealth Devices segment accounted for the largest revenue of 52.40% in the year 2023 of the overall mHealth market share.
The mHealth Apps segment is anticipated to register the fastest CAGR during the forecast period.
Based on application, the mHealth market has been segmented into Remote Monitoring, Diagnostics and Treatment, Disease and Epidemic Outbreak Tracking, Communication and Training, Education and Awareness, and Others.
Trends in the application:
The remote monitoring segment accounted for the largest revenue share in 2023.
The diagnostics and treatment segment is anticipated to register the fastest CAGR during the forecast period.
Based on end users, mHealth Market has been segmented into Patients, Providers, Payers, and others.
Trends in the End User:
The provider's segment accounted for the largest revenue share in 2023.
The patient segment is anticipated to register the fastest CAGR during the forecast period
The regions covered are North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America is estimated to reach over USD 99.82 Billion by 2031 from a value of USD 36.26 Billion in 2023. The mobile health industry is mainly driven by its deployment in healthcare providers, the pharmaceutical industry, insurance companies, and other industries.
The region's dominance is attributed to several factors, including advanced healthcare infrastructure, high smartphone penetration, and a growing focus on digital health innovations. The strong presence of key market players and supportive government initiatives further bolster the mHealth market in North America.
The mHealth market in North America is substantial, with significant investments in digital health startups and innovations. The market is expected to grow at a robust pace, driven by continuous advancements in mobile health technologies and increasing consumer interest in convenient healthcare solutions.
Asia Pacific region was valued at USD 19.02 Billion in 2023. Moreover, it is projected to reach over USD 54.30 Billion by 2031. Out of this, China accounted for the maximum revenue share of 30.1%.
The Asia Pacific region is experiencing rapid growth in the mHealth industry, driven by factors such as increasing smartphone penetration, rising healthcare awareness, and significant investments in digital health infrastructure. Countries like China, India, Japan, and South Korea are at the forefront of this growth, leveraging technological advancements to enhance healthcare delivery and accessibility.
As per the mHealth market analysis, Europe is anticipated to witness a substantial rise, driven by the increasing adoption of mHealth technologies across various sectors, particularly the healthcare sector. The region's mature healthcare infrastructure, combined with supportive regulatory frameworks, is fostering the integration of mHealth solutions to enhance patient care and streamline clinical processes.
The Middle East, Africa, and Latin America are expected to grow at a considerable rate in the mHealth market, driven by increasing investments in digital infrastructure and healthcare services across countries like Brazil and the UAE.
The mHealth market is highly competitive with major players providing products to the national and international markets. Key players are adopting several strategies in research and development (R&D), product innovation, and end-user launches to hold a strong position in the market. Key players in the mHealth industry include-
Product Launches:
Partnerships & Collaborations:
Report Attributes | Report Details |
Study Timeline | 2018-2031 |
Market Size in 2031 | USD 233.23 Billion |
CAGR (2024-2031) | 13.4% |
By Products & Services |
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By Application |
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By End User |
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By Region |
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Key Players |
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North America | U.S. Canada Mexico |
Europe | U.K. Germany France Spain Italy Russia Benelux Rest of Europe |
APAC | China South Korea Japan India Australia ASEAN Rest of Asia-Pacific |
Middle East and Africa | GCC Turkey South Africa Rest of MEA |
LATAM | Brazil Argentina Chile Rest of LATAM |
Report Coverage |
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The mHealth market size is estimated to reach over USD 233.23 Billion by 2031 from a value of USD 85.30 Billion in 2023 and is projected to grow by USD 95.21 Billion in 2024, growing at a CAGR of 13.4% from 2024 to 2031.
Asia-Pacific is the region experiencing the most rapid growth in mHealth Market.
The mHealth report includes specific segmentation details for products and services, application, end-user, and region.
The key players in the mHealth market are Koninklijke Philips N.V. (Netherlands), International Business Machines Corporation (USA), Medtronic (USA), Qualcomm Life (USA), Apple Inc. (USA), Google LLC (USA), Samsung Electronics Co., Ltd. (South Korea), FitBit, Inc., Withings S.A. (France), and Cerner Corporation (USA).