Global mHealth Market size was valued at USD 73.9 Billion in 2023 and is expected to reach USD 374.6 Billion by 2032, at a CAGR of 17.6% during the forecast period 2023 – 2032.
mHealth Market: Overview
mHealth, or mobile health, is an advancement in healthcare delivery that uses mobile devices and wireless technology to alter many aspects of healthcare. Through patient monitoring to health education, mHealth provides a wide range of apps and services aimed at increasing access to healthcare, efficiency, and effectiveness.
The growing popularity of wearable gadgets and smartphones with health tracking capabilities is broadening the reach of mHealth solutions, allowing more people to check their health effortlessly. Furthermore, integrating computational intelligence (AI) and machine learning techniques into mHealth applications improves customized healthcare delivery by providing predictive analytics and preemptive treatments.
Finally, the COVID-19 epidemic has pushed the use of telemedicine and virtual care solutions, emphasized the value of distant healthcare delivery and drive further innovation in mHealth technology.
In addition, there is a rising emphasis on data privacy and security in mHealth, with legislation like GDPR and HIPAA pushing compliance efforts and protecting critical health information. In summary, these findings highlight mHealth’s transformational potential in increasing access to healthcare and efficiency.
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By device type, the cardiac monitor’s segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Cardiac monitors in the mHealth industry are becoming more wearable, with better ECG capacities, flawless smartphone connectivity, and AI-powered analytics for real-time heart health monitoring and tailored insights.
By services, the monitoring services segment held the highest market share in 2022 and is expected to keep its dominance during the forecast period 2024-2032. Monitoring services in the mHealth industry are shifting toward remote patient monitoring, which uses wearable devices and mobile applications for continuous health tracking, telemedicine consultations, and tailored health treatments to improve healthcare accessibility and results.
CMI has comprehensively analyzed the Global mHealth market. The driving forces, restraints, challenges, opportunities, and key trends have been explained in depth to depict depth scenario of the market. Segment wise market size and market share during the forecast period are duly addressed to portray the probable picture of this Global mHealth industry.
The competitive landscape includes key innovators, after market service providers, market giants as well as niche players are studied and analyzed extensively concerning their strengths, weaknesses as well as value addition prospects. In addition, this report covers key players profiling, market shares, mergers and acquisitions, consequent market fragmentation, new trends and dynamics in partnerships.
List of the prominent players in the mHealth Market:
- Apple Inc.
- Google LLC
- Fitbit Inc.
- Samsung Electronics Co. Ltd.
- Garmin Ltd.
- Philips Healthcare
- Cerner Corporation
- Medtronic plc
- Dexcom Inc.
- Omada Health Inc.
- Livongo Health
- Allscripts Healthcare Solutions Inc.
- IBM Watson Health
- GE Healthcare
- Qualcomm Incorporated
- McKesson Corporation
- Bayer AG
- Nokia Health
- athenahealth Inc.
- Teladoc Health Inc.
- Others
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