PUBLISHER: The Business Research Company | PRODUCT CODE: 1619765
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619765
Mobile health (mHealth) involves the use of mobile devices to support medical and public health practices. This includes utilizing mobile communication technologies such as smartphones, tablets, and wearable devices to deliver health services, collect health data, and provide health information.
The main categories of mobile health (mHealth) are mHealth devices and mHealth services. mHealth devices are portable, often wearable gadgets designed to monitor, record, and transmit health data. Various applications cover areas such as cardiovascular health, diabetes, respiratory issues, neurology, and more, serving different users including patients, healthcare providers, payers, and others.
The mobile health (mhealth) market research report is one of a series of new reports from The Business Research Company that provides mobile health (mhealth) market statistics, including mobile health (mhealth) industry global market size, regional shares, competitors with a mobile health (mhealth) market share, detailed mobile health (mhealth) market segments, market trends and opportunities, and any further data you may need to thrive in the mobile health (mhealth) industry. This mobile health (mhealth) market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mobile health (mHealth) market size has grown rapidly in recent years. It will grow from $72.69 billion in 2023 to $84.99 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth during the historic period can be attributed to the increasing adoption of smartphones, rapid expansion of mHealth solutions, a rising incidence of chronic diseases, growing demand for remote monitoring and management solutions, and heightened promotion of digital health and telemedicine.
The mobile health (mHealth) market size is expected to see rapid growth in the next few years. It will grow to $159.66 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth during the forecast period can be attributed to a rising preference for at-home care solutions, the incorporation of AI and machine learning, advancements in 5G technology for faster and more reliable connections, growing awareness of health and wellness, and increased use of fitness apps and wearable devices. Key trends expected during this period include a rise in mergers and acquisitions, a shift towards more personalized mHealth applications, greater integration with electronic health records (EHR), a growing focus on mHealth applications, and increased demand for mental health services.
The increasing prevalence of chronic diseases is expected to drive the growth of the mobile health (mHealth) market in the coming years. Chronic diseases are long-lasting health conditions that typically persist for a year or more and often require continuous medical attention or can limit daily activities. The rise in chronic diseases is largely attributed to aging populations, as longer lifespans contribute to more long-term health issues. mHealth plays a crucial role in managing chronic diseases by providing tools for health monitoring, enhancing communication with healthcare providers, and supporting adherence to treatment plans. For example, in June 2024, the National Health Service (NHS), a publicly funded healthcare system in England, reported that there were 3,615,330 individuals registered with general practitioners as having non-diabetic hyperglycemia (pre-diabetes) in 2023, an increase from 3,065,825 in 2022-representing a rise of nearly 18%. Thus, the growing prevalence of chronic diseases is fueling the expansion of the mobile health (mHealth) market.
Leading companies in the mHealth market are focusing on developing comprehensive digital apps that offer whole-person care solutions. These apps integrate physical, mental, and emotional health services into a single platform to provide personalized healthcare. For instance, in January 2023, Teladoc Health, a US-based healthcare provider, launched an integrated digital health app. This app delivers a holistic healthcare experience, allowing users to access primary care, mental health services, and chronic condition management through a unified account. Available in both Spanish and English, the app features user-friendly navigation, integrated care plans from physicians, and coordination with in-person providers to ensure comprehensive care.
In February 2022, Potomac Equity Partners, a U.S.-based private equity firm, announced the acquisition of U.S. Mobile Health Exams for an undisclosed sum. This acquisition is intended to strengthen Potomac Equity Partners' portfolio in mobile healthcare services, with a focus on improving access to convenient and efficient medical examinations. U.S. Mobile Health Exams is recognized for offering on-site medical testing and evaluation services across various sectors of healthcare.
Major companies operating in the mobile health (mHealth) market are Apple Inc., Samsung Group, Huawei Technologies Co. Ltd., Oracle Corporation, Abbott Laboratories, Xiaomi Corporation, Medtronic plc, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies, Omron Corporation, Garmin Ltd., Hill-Rom Holdings Inc., Dexcom Inc., Masimo Corporation, Nihon Kohden Corporation, Polar Electro Oy, Verily Life Sciences LLC, Withings S.A.S., Empatica Inc., TempTraq, LifeSense Group B.V.
North America was the largest region in the mobile health (mHealth) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mobile health (mHealth) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mobile health (mHealth) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mobile health (mHealth) market consists of revenues earned by entities through virtual health consultations, health education and training, and disease management. The market value includes the value of related goods sold by the service provider or included within the service offering. The mobile health (mHealth) market also includes sales of remote patient monitoring devices, smartwatches, and glucose monitoring devices. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Mobile Health (mHealth) Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mobile health (mhealth) market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mobile health (mhealth) ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mobile health (mhealth) market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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