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FAQs

mHealth Market size was valued at USD 51.8 billion in 2019 and is poised to grow from USD 56.8 billion in 2023 to USD 130.6 billion by 2031, growing at a CAGR of 10.8% in the forecast period (2024-2031).

mHealth market is fragmented and highly competitive. The market is moderately consolidated with few key players operating on and regional levels. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. 'Apple, Inc.', 'Medtronic plc.', ' Google ', ' Samsung ', ' Philips ', ' Qualcomm ', ' Cisco Systems ', ' Johnson & Johnson ', ' Cerner ', ' GE Healthcare ', ' Athenahealth ', ' Teladoc Health ', ' Doctor on Demand ', ' Livongo Health ', ' Proteus Digital Health ', ' Omada Health ', ' 2Morrow ', ' WellDoc ', ' iHealth Labs ', ' Ginger '

The increased demand for smartphones is one of the key factors driving the mobile health market. Many people own several smartphones, cell phones, and tablets, and the Center for Technology Innovation reports that with the increased use of smartphones, users can access a variety of healthcare-related services via wireless multimedia. This is expected to drive the adoption of mHealth services. The rising desire for better communication and information at the point of care is boosting mobile health adoption among healthcare providers. Communication capabilities in Hospital Information Systems (HISs), Electronic Health Records (EHRs), Electronic Medical Records (EMRs), Clinical Decision Support Systems (CDSS), Picture Archiving and Communication Systems (PACS), and Laboratory Information Systems (LIS) are ideal in a clinical setting. Increasing the adoption of these systems is expected to have positive impact on the market.

Increasing adoption of the latest technologies such as artificial intelligence, data analytics, and 5G is expected to drive the market over the forecast period. The combination of these new technologies with mHealth can enhance patient care and is expected to provide significant growth opportunities to market participants in the near future.

North America accounted for 37.1% of revenue in the mHealth market in 2021 due to several factors such as rising healthcare costs, the incidence of chronic diseases, growing senior population, and highly established network infrastructure. Also, favorable government initiatives and increased use of mobile healthcare applications are driving the region's need for mHealth services. Additionally, the increasing incidence of cardiovascular diseases in the region is increasing the demand for real-time monitoring. The availability of mHealth apps that can provide real-time information about cardiovascular health can help prevent significant health problems and reduce sudden cardiac death.

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Global mHealth market

Product ID: SQMIG35G2235

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