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mHealth Market (Category - Apps, and Wearable; Service Type - Monitoring Services, Diagnostic Services, and Treatment Services; Service Provider - mHealth App Companies, Hospitals, and Health Insurance): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2020

  • Rep Id : HC0858

  • Category : Healthcare & Medical Devices

  • Status : Published

A recent report published by Infinium Global Research on mHealth market provides an in-depth analysis of segments and sub-segments in the global as well as regional mHealth market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mHealth market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global mHealth market. According to the report, the global mHealth market is projected to grow at a CAGR of 23.05% over the forecast period of 2020-2026.

 

Market Insight

Health-related technologies and mobile applications are frequently known as mHealth, which helps in managing patients’ experiences. Such health mobile apps and technologies utilize advanced data analytics to help medical professionals in providing their patients best care at a low cost. This patient-related data is collected through wireless electronic means such as mobiles, wearable devices, and other mHealth devices. Furthermore, the collected patient data is stored on a remote cloud with the help of a mHealth application. This stored data is accessed by healthcare professionals to conduct an analysis of parameters associated with medical conditions. These readings are then analyzed by healthcare professionals to determine the severity of the medical condition. Several types of devices and services available in the market. These mobile health applications enable easy and better health management through simple apps, such as diet, exercise trackers, and calorie-counting.

 

The key factors which are responsible for the growth of the global mHealth market involves the integration of wireless technologies with portable healthcare devices, a rise in the prevalence of lifestyle disorders, favorable government initiatives, and technological innovations. Moreover, the affordability of smartphones and the rise in the adoption of mHealth among medical professionals boost mobile health market growth. Increasing the penetration rate of the phone across the globe is one of the key factors propelling mHealth market growth. Many people have more than one smartphone, cell phone, or tablet. For example, the center for Technology Innovation stated that China and India represent the areas with the largest number of mobile devices. Growing usage of smartphones will enable the population to access several healthcare-related services through wireless multimedia, thus fostering the adoption of mHealth services. On the other hand, factors such as data security concerns and poor network coverage can hinder the growth of the market.


Furthermore, the high incidence and infectious nature of the novel COIVD-19 virus has infected a large number of frontline healthcare providers resulting in a substantial shortage of doctors and nurses. Moreover, owing to infrastructural challenges such as limited number of beds in quarantine facilities, a large patient pool with mild symptoms are home quarantined. To monitor these enormous patient inhabitants with restricted healthcare staff, numerous hospitals are adopting digital health solutions, which is relatively evident in recent market movements. With Covid-19 infections increasing internationally, the anxiety regarding a shortage of essential life-saving devices and other essential medical supplies in order to inhibit the spread of this pandemic and provide optimum care to the infected also widen. Furthermore, several governments, companies, and citizens movements have developed mHealth initiatives to keep the population informed and help manage the COVID-19 pandemic. Several new applications are also expected to be launched in the market complemented by the increasing efforts of the country governments to contain the spread of the virus. All these developments are predicted to boost the market over the long term.


Geographically, North America is expected to dominate the mHealth market during the forecast period. The large share of North America in the market can be accredited to the high penetration of smartphones, tablets, and other mobile platforms. Furthermore, the region will offer several growth opportunities to market vendors during the outbreak of COVID-19 due to the high demand for health-related devices and services. Moreover, the Asia Pacific region is anticipated to grow with the fastest CAGR owing to the increasing use of mHealth intervention for healthcare needs. The growing geriatric population in countries such as China and Japan and the increasing burden of chronic conditions also boost the demand for mHealth technologies in the region. The substantial rate of healthcare digitalization in the Asia Pacific region is primarily due to the high number of smartphone users.

 

Segment Covered

The report on the global mHealth market covers segments such as category, service type, and service provider. On the basis of category, the sub-markets include apps, and wearable. On the basis of service type, the sub-markets include monitoring services, diagnostic services, and treatment services. On the basis of the service provider, the sub-markets include mHealth app companies, hospitals, and health insurance.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Apple Inc., AT&T, Allscripts Healthcare Solutions, Orange S.A, Google Inc., AirStrip Technologies, Qualcomm Inc., Telefonica, Vodafone Group, and Samsung Electronics.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mHealth market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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