Growth Boosters and Restraints

mHealth technologies have seen remarkable growth in demand since the COVID-19 outbreak, used extensively for monitoring individuals suffering from the infection. mHealth helps predict the symptom status in patients for faster intervention. mHealth have grabbed the attention of the global healthcare industry, especially since the imposition of the lockdown and the rising need to slow down the pandemic’s spread. mHealth technology is increasingly being utilized by healthcare professionals and clinicians to gain accurate and faster clinical results. The market size is expanding thanks to the rising use of internet and smartphones to achieve self-reports and the widespread popularity of wearables to collect extensive physiological data.

Mobile health has been witnessing significant demand worldwide, considering the rampant need to constantly monitor the patient and facilitate effective communication between the patient and the doctor. Soaring use of mhealth apps, especially in remote locations with no access to medical workers also acts in favor of the global market. Increased adoption of wireless technologies in various portable devices, high convenience, cost effectiveness, and the dramatic increase in lifestyle diseases also foster the market growth. The healthcare IT sector exhibits a robust growth potential, backed by the government bodies across the world. However, low awareness levels regarding digitization combined with the presence of poor medical facilities across underdeveloped economies will restrain the growth rate of the global market in the years to come.

Market Status

The mHealth market can expect to attain a stellar growth rate of 36.5% between 2020 and 2027, says MRFR (Market Research Future). MRFR also expects the global market size to reach USD 21.71 Billion by 2027-end.

Segmental Analysis

mHealth market has been divided with respect to therapeutics and applications.

Therapeutic-wise categories include diabetes, mental and neurological disorders, fitness lifestyle therapeutics, respiratory, and more. mHealth apps offer strong support in fueling long-term changes in aspects like activity, sleep, and nutrition, which helps diabetic patients better manage their condition. The escalating cases of diabetes worldwide is touted to boost the adoption of mHealth technologies in the coming years.

Wellness prevention, diagnosis treatment, healthcare management, monitoring, remote data collection, education and awareness, and others are the key applications outlined in the MRFR report. It is presumed that the monitoring segment will seize the biggest share of 61.8% in the worldwide market between 2020 and 2027. Monitoring via mhealth helps healthcare professionals to better monitor the patient’s health status, adherence to the medication regimen, as well as follow-up scheduling.

Regional Insight

APAC/Asia Pacific, Europe along with MEA/Middle East Africa and the Americas are the top markets for mHealth across the globe.

Americas’ growth in the global market has been phenomenal and MRFR expects expect the region to remain unbeatable throughout the conjectured period. The strong market growth is the result of the rise in digital advances within the healthcare sector and the rampant demand for wearables among the people. Expanding health-conscious population will also favor the mHealth market in the region. Several digital healthcare start-ups are adopting the B2C business model that helps them gain fast traction in the primary healthcare system. Soaring adoption of electronic health records/EHR and advanced e-prescription systems in the healthcare industry is yet another growth rendering factor.

APAC is identified as the second leading market for mHealth, backed by the rising use of mobile health applications among medical professionals to gain updates about new trend. In addition, escalating adoption of modern technologies by the healthcare sector, advances in the network infrastructure, and the rapid growth of 3G and 4G technologies should benefit the Asia Pacific market in the following years. The rapidly burgeoning elderly populace across Japan and China and the mounting incidences of chronic ailments will boost the use of mHealth technologies in the next couple of years.

Renowned Contenders

The reputed contenders listed in the report are Johnson Johnson, Alivecor INC, Laboratory Corporation of America Holdings, GE Healthcare, Google INC, Philips Healthcare, Apple INC, Agamatrix INC, ATT, INC, Biotelemetry INC. (CARDIONET), Athenahealth INC, Jawbone INC, and more.