Global mHealth market

mHealth Market Size, Share, Growth Analysis, By Component (mHealth apps, Services), By End Use (Patient, Provider), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35G2235 | Region: Global | Published Date: July, 2024
Pages: 157 | Tables: 92 | Figures: 76

mHealth Market Insights

Global mHealth Market size was valued at USD 55.20 Billion in 2022 poised to grow from USD 62.82 Billion in 2023 to USD 176.69 Billion by 2031, growing at a CAGR of 13.8% in the forecast period (2024-2031). 

Mobile health (mHealth), so named as it involves using mobile technology for healthcare purposes. This is achieved by developing a wide range of mobile health applications and services which use mobile technology to improve healthcare delivery, enhance health outcomes and empower individuals to manage their own health. Numerous mHealth devices for health monitoring are blood glucose meters, blood pressure monitors, pulse oximeters and other medical devices - all available in wide range. These various mHealth services provided by health professionals include monitoring services, diagnostic services and preventative services among others. 

The rise in chronic cardiac diseases like heart attacks, hypertension, and stroke is fueling the growth of the global mHealth market. These diseases also raise the need for mHealth devices to monitor the heart health of patients who frequently experience symptoms like palpitations, dizziness, or fainting spells, which are linked to cardiac irregularities. Additionally, people with diabetes can keep an eye on their blood glucose levels due to linked gadgets and mobile health applications (mHealth apps). Thus, it is anticipated that a rise in the prevalence of diabetes will accelerate the expansion of the mHealth market share.

US mHealth Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global mHealth Market size was valued at USD 55.20 Billion in 2022 poised to grow from USD 62.82 Billion in 2023 to USD 176.69 Billion by 2031, growing at a CAGR of 13.8% in the forecast period (2024-2031). 

In a tightly competitive environment, the leading companies in the global mHealth market are stimulating innovation and growth. Major transnational companies include Philips Healthcare, which is known for its advanced health monitoring devices; Apple, whose products focus on health-minded wearables; and Fitbit, a leading name in physical activity tracking. The other noteworthy participants include IBM Watson Health that employs AI in the analysis of health information and Samsung Health which offers all-inclusiveness health care management systems. Through advanced technologies and strategic interactions, these firms are redefining the industry. 'Philips Healthcare (Netherlands) ', 'Apple, Inc. (USA) ', 'Fitbit Inc. (USA) ', 'Samsung Electronics (South Korea) ', 'IBM Watson Health (USA) ', 'Garmin Ltd. (USA) ', 'Huawei Technologies (China) ', 'Xiaomi Corporation (China) ', 'Medtronic plc (Ireland) ', 'Omron Healthcare (Japan) ', 'Withings (France) ', 'Trek Medics International (USA) ', 'Qardio Inc. (USA) ', 'AliveCor (USA) ', 'BioTelemetry Inc. (USA)'

One of the factors driving the expansion of the global mHealth market is the proliferation of smartphones and fast internet connections globally. The availability of these technologies has made it easier to use mobile health apps, talk to health professionals from afar, and keep track of patients’ conditions as they happen; therefore, promoting health services reachability and comfort of access to health care provision. 

Emergence of mHealth Solutions Driven by AI to Improve Personalization: The use of AI in mHealth solutions is transforming personalized healthcare. Health data are evaluated through artificial intelligence (AI) algorithms, personalized recommendations are given, while potential health problems are anticipated before they occur. Due to this trend, mHealth apps and gadgets are becoming more effective and responsive to users' unique health demands. 

The leading country in global mHealth market is North America due to its advanced healthcare system, high adoption of technology rate and large investment made into digital health advancements. It benefits from high technology skills among customers; a strong base of people with wearable devices and mobile phones; enabling laws for the growth of mHealth. Moreover, substantial backing from public and private entities makes mobile health research as well as development move faster. The existence of important technology organizations and health care givers makes it more likely that North America will be an important player in global mHealth market trends and thus maintaining its leadership within the region’s market. 

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Global mHealth market

Report ID: SQMIG35G2235

$5,300
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