mHealth Market Future Business Opportunities 2021-2028 | Medtronic Inc., Apple Inc., Sanofi, Mobistante

Overview:

mHealth has wide range of applications such as from collection and delivery of healthcare information and health data to real time observation of patients by providing direct care. The use of mobile gadgets for searching healthcare services and accessing different type of healthcare data is high in emerged countries. Physicians, doctors and nurses use mobile devices for accessing patients’ information from established database and other resources.

The global mHealth market was valued at US$ 16.7 Bn in 2019 and is forecast to reach a value of US$ 107.6 Bn by 2027 at a CAGR of 24.4% over the forecast period (2020-2027).

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Drivers:

Introduction of new mHealth solutions is expected to boost the global mHealth market growth during the forecast period. For instance, in June 2020, Fitbit introduced Ready for Work solution that allows the access to key health metrics to employees from their Fitbit device with temperature, symptom and exposure logging.

Opportunities:

Frequent investment in propelling internet penetration is projected to create a lucrative environment of growth opportunities for market players in the global mHealth market. For instance, in May 2019, SpaceX announced the launch of first 60 operational satellite of Starlink that is designed to provide satellite internet access.

Restraints:

Inadequate security measures are expected to hamper growth of the global mHealth market. Multiple device access to healthcare applications and data, on and off premise is a security concern in mHealth.

Market taxonomy:

By Service

Solutions for patients

Wellness

Prevention service

Monitoring service

Diagnostic service

Treatment service

Information and reference

Healthcare system strengthening

Emergency response

Health care practitioner support

Healthcare surveillance

By Application

General healthcare and fitness

Medication information

Remote monitoring, collaboration and consultancy

Healthcare management

Health data and record access

By End User

Public/Private healthcare institutions

Physicians

Healthcare workers

Individuals

By Region

North America

Latin America

Europe

Asia Pacific

Middle East

Africa

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Regional analysis:

North America is expected to witness a strong growth in the mHealth market, owing to increasing government initiative for offering safe and secure access to patients to their digital health data. For instance, in March 2020, The U.S. Department of Health and Human Services declared two rule sets that satisfy the interoperability and information-blocking provisions of the landmark 21st Century Cures Act. These rules will be observing the designing of systems developed by technology vendors, suppliers and payers to provide secure and safe access to the patients to their health data.

Moreover, Asia Pacific is witnessing robust growth in the mHealth market due to rising number of mobile users. For instance, in January 2019, Telecom Regulatory Authority of India, India reported 1,281,971,713 mobile users.

Key Developments:

Market players are focusing on strategic collaboration. For instance, in August 2019, Oracle Health Sciences collaborated with HCL Technologies and a Platinum-Level member of Oracle Partner Network (OPN) in order to support life sciences corporations in executing and scaling the next-generation digital clinical trials to lower the cost and time of drug development.

mHealth Market – Competitive Landscape

Key players functioning in the global prosthetic liners market consists of Medtronic Inc., Apple Inc., Sanofi, Mobistante, Inc., AirStrip Technologies, Inc., AliveCor, Inc., LifeWatch AG, Koninklijke Philips N.V, Jawbone, Nike, Inc., Omron Corporation, Johnson and Johnson, Bio Telemetry Inc., Withings, AgaMatrix Inc., iHealth Lab Inc., Elucid Mhealth, Qualcomm, AT&T, Cerner Corporation and Cisco Inc.

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