The global mHealth market is expected to flourish at an impressive 12% CAGR, topping US$ 177 Bn in value by the end of the forecast period 2022-2032, concludes a recently published Fact.MR study. Growth is majorly attributed to the deepening penetration of internet and smart technologies across multiple geographies. Moreover, there is increased focus on improve access to healthcare.
From 2015 to 2021, the market flourished at a CAGR of 9%, reaching US$ 51 Bn by the end of the said historical period. The scope for mHealth has further expanded in the light of the COVID-19 pandemic, as patients extensively relied on telehealth and online medical consultation facilities in response to curbs on visiting in-patient clinics, hospitals or dispensaries.
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As governments worldwide continue advancing healthcare improvement spending, key stakeholders are anticipated to extensively rely on mHealth apps and solutions. Furthermore, the ever increasing workload across commercial healthcare settings is compelling staff to incorporate automated and digital workflow optimization technologies, which is further widening scope for mHealth distribution and sales.
Key Takeaways from the Market Study
- By component, mHealth apps to account for over 75% of the global market revenue
- Over 3 out of 5 sales to comprise of mHealth monitoring services, especially for chronic disease management
- Mobile operator-based mHealth services to capture 50% of global market demand
- mHealth applications for content creators to expand at a CAGR of 13% from 2022-2032
- North America to accumulate 39% of global mHealth market revenue in 2022
- Asia-Pacific to flourish at a CAGR of 10% with regard to mHealth services from 2022-2032
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Unceasing quest for improving healthcare access and streamlining medical and pharmaceutical workflows is prompting commercial healthcare providers to invest in various mHealth solutions, including patient tracking, disease management and fitness monitoring among others, broadening mHealth prospects, remarks a Fact.MR analyst.
Competitive Landscape
Given the increased penetration of technological advancements in the healthcare domain, prominent mHealth service providers are incorporating the latest virtual technologies to introduce highly sophisticated mobile applications. Besides, extensive R&D activities, collaborations and mergers & acquisitions constitute other expansion strategies of key players. Some notable developments are as follows:
- In January 2022, AT&T Inc. announced a partnership with Smart Meter to improve health outcomes for patients with chronic conditions such as diabetes and high blood pressure. The company intends to introduce the iPulseOxTM device at CES 2022, which will deploy AT&T’s nationwide IoT Network
- In February 2017, Samsung Electronics Co collaborated with American Well in order to beef up the consumer-facing space with access to mHealth tools to provide reliable data. The partnership was aimed at ushering in an integrated care delivery system and improve business outcomes
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More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the mHealth market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of component (wearables, mHealth apps and fitness apps), services (monitoring services, diagnosis services, healthcare systems strengthening services and others) and participants (mobile operators, device vendors, content players and healthcare providers) across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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Key Segments Covered in the mHealth Research Report
-
By Component
- mHealth Wearables
- BP Monitors
- Glucose Monitors
- Pulse Oximeters
- Sleep Apnea Monitors (PSG)
- Neurological Monitors
- Activity Trackers/Actigraphs
- mHealth Apps
- Medical Apps
- Women’s Health
- Personal Health Record Apps
- Medication Management Apps
- Disease Management Apps
- Diagnostic Apps
- Remote Monitoring Apps
- Others
- Fitness Apps
- Exercise & Fitness
- Diet & Nutrition
- Lifestyle & Stress
- Medical Apps
- mHealth Wearables
-
By Services
- mHealth Monitoring Services
- Independent Aging Solutions
- Chronic Disease Management & Post-acute Care Services
- mHealth Diagnosis Services
- mHealthcare Systems Strengthening Services
- Other mHealth Services
- mHealth Monitoring Services
-
By Participants
- Mobile mHealth Operators
- mHealth Device Vendors
- mHealth Content Players
- mHealthcare Providers
For More Insights- https://www.prnewswire.com/news-releases/demand-for-industrial-gear-solutions-with-complex-designs-driving-gear-measuring-machines-market-factmr-301266718.html
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