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The Role of mHealth Services Market Industry Growth, Competitors Analysis, New Technology, Trends and Forecast 2022 - 2031

06-30-2022 01:05 PM CET | Health & Medicine

Press release from: Transparecny Market Research

mHealth Services Market 2022

mHealth Services Market 2022

The global mHealth services market depicts the presence of a highly competitive and dynamic vendor landscape, says Transparency Market Research on the basis of a newly published report. Many companies are getting established in emerging economies situated in regions such as Asia Pacific and Middle East and Africa. The intense competition has made most players take part in mergers and acquisitions in the form of prime strategies to induce growth in their organizations. Enhancing product/service portfolios, bringing about geographical expansion, and providing better mHealth services processes, also are other important schemes implemented by most organizations operating in the global mHealth services market.

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With the entry of new players on a regular basis, the level of competition is expected to dramatically increase during the forthcoming years. Vodafone Group Plc., AT&T Inc., Apple Inc., Alcatel-lucent, Airstrip technologies Inc., Cerner Corporation, SoftServe Inc, Diversinet Corp. (IMS Health), Symantec Corporation, and Koninklijke Philips N.V., are key players operating in the global mHealth services market.

According to market experts, this market is expected to gain revenue worth US$23.3 bn by 2020. Such a phenomenal growth is projected to occur at a stellar CAGR of 23.9% during the forecast period from 2014 to 2020.

Boundlessly Increasing Use of Mobile Devices Boosts Market's Growth

The primary growth driver of the global mHealth services market involves a swift rise in the use of mobile phones and associated services. A rise in the use of electronic devices for healthcare management as well as in various industrial sectors for carrying out different activities also are key factors driving the global mHealth services market.

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A growing use of high speed internet and other technologies that offer smooth and streamlined connectivity, also has propelled the market to achieve extensive growth. This is mainly due to the large role played by quality of connectivity and networking platforms in context of upkeeping mobile health. Easy availability of quality mobile phones that can support cutting edge technologies is expected to make the mHealth services market continue growing with a steady pace in future. Many players are gradually setting the groundwork for enabling better mobile communications in remote regions, thus proving beneficial for the market's growth.

Shortage of Raw Materials to Devlop Technologies in Remote Regions Hinders Expansion

Lack of awareness about the importance of mHealth service among the user-base is substantially restraining the global mHealth services market in remote and underdeveloped regions. A shortage of relevant source material in the same regions to develop and provide mHealth services is also greatly hindering the market's growth. Moreover, high costs of setting up mobile health-based technologies presents difficulties for new businesses having less capital to establish themselves properly. Such high costs often translate to expensive devices. Consequently, businesses having less disposable income cannot afford the devices. Nevertheless, some organizations are expected to introduce cost effective solutions, which may reduce effects of restraints affecting the global mHealth services market in the near future.

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This analysis of the global mHealth market is based on a recent market research report by Transparency Market Research, titled "mHealth Services (Application - General Healthcare and Fitness, Medication Information, Remote Monitoring, Collaboration and Consultancy, Healthcare Management, and Health Data and Record Access; Service Type - Solutions for Patients (Wellness, Prevention, Monitoring, Diagnostic, Treatment, and Information and reference) and Healthcare System Strengthening (Emergency Response, Healthcare Practitioner Support, and Healthcare Surveillance); End User - Public/Private Healthcare Institutions, Physicians, Healthcare Workers, and Individuals) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020."

Key Takeaways:

A growing use of high speed internet and other technologies that offer smooth and streamlined connectivity, also has propelled the market to achieve extensive growth
With the entry of new players on a regular basis, the level of competition is expected to dramatically increase during the forthcoming years.
For the study, the market has been segmented as follows:

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Global mHealth Services Market, By Application

General healthcare and fitness
Medication information
Remote monitoring, collaboration and consultancy
Healthcare management
Health data and record access
Global mHealth Services Market, By Services Type

Solutions for patients
Prevention service
Monitoring service
Diagnostic service
Treatment service
Information and reference
Healthcare system strengthening
Emergency response
Health care practitioner support
Healthcare surveillance
Global mHealth Services Market, By End User

Public/Private healthcare institutions
Healthcare workers

Rohit Bhisey
Transparency Market Research Inc.
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453

About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
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