The mHealth Solutions Market is projected to drive industrial expansion between 2022 and 2030 at an amazing CAGR of 27%

The market for mHealth solutions has growth prospects as smartphones, tablets, and other mobile devices become more widely used. From complicated population health analysis to managing chronic care, mHealth offers a wide range of applications. During the projected period of 2022-2030, the global market for m-health solutions is anticipated to grow at a CAGR of 27%.

Moreover, there is a growing demand for mHealth for the transformation of healthcare due to the trend toward outcome-based delivery and a patient-centric paradigm. Growing health awareness among people is prompting major companies to produce improved health-oriented smart gadgets, which is driving the market. This is seen in the rising usage of mobile devices and fitness trackers. Numerous healthcare solution providers are anticipated to follow suit in the near future in order to take advantage of this potential revenue opportunity. In the healthcare industry, this is anticipated to open the door for customer application development services.

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Key Takeaways: M-Health Solution Market

Patient segment among the end user is estimated to register a CAGR of 32.5% during the forecast period as the adoption of m-health apps is increasing among patients for keeping track of their health and as preventive measure
Disease tracking segment to dominate in 2020 with a market share of 31.7% followed by patient monitoring
Growing trend among young age population to maintain healthy lifestyle through various diet and exercise routines is increasing demand for fitness apps. The fitness apps segment is estimated to grow by 28% Y-o-Y from 2019 to 2020
Among regions, South Asia & Pacific m-health solution is estimated to register high CAGR, owing to the increasing investments by government in digitalization of the healthcare industry

 "The growing demand for new types of wearable devices and application for tracking health & fitness and partnership among key players for offering innovative m-health services to enhance the user experience. Also, with continuous innovation in the technological aspects, m-health devices like wearable fitness trackers are offering various features for its customers and introduction of m-health apps for monitoring and keeping track of health is driving the market growth during the forecast period.," says FMI Analyst.

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COVID-19 Impact Analysis on M-Health Solution Market

COVID-19 pandemic has impacted every sector and due to social distancing norms organizations are transforming towards digitalization to ensure the safety. Due to pandemic the adoption of digital health technologies has increased to help health professionals and public stay up to date about disease, maintain communication and for better strategic planning. The demand is increasing for m-health solutions as these m-health solutions are used to identify the COVID-19 symptoms through remote patient monitoring platforms.

The fear of infection among the people have led them to adopt m-health devices and applications as these devices give people accurate feedback on their blood pressure, body temperature, oxygen level which are restoring the sense of control in people. However, the m-health solution market is estimated to witness a growth of 1.3X in 2020 and 2021 as well.

Demand for Cloud-based Solutions and Services

Cloud-based services are an attractive means of deploying IT solutions, as they reduce IT infrastructure costs while accelerating the speed of operations for healthcare organizations. This is, in turn, expected to drive the demand for cloud-based mhealth solutions. Cloud based solutions offer increased flexibility, storage and automation. Moreover, using cloud storage, clinical images can be accessed by multiple doctors from any location. Furthermore, mhealth solutions and service providers are increasingly investing in research and development activities to cater to the growing demand for consumer-centric and cloud-based solutions. Increasing competition is influencing companies to introduce innovative cloud-based offerings and upgrade their existing product portfolio to enhance their presence in the market.

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Key Segments of Mhealth Solutions Industry Survey

mHealth Solutions Market by Product and Service:

M-Health Devices
mHealth Apps
mHealth Services

mHealth Solutions Market by Application:

mHealth Solutions for Disease Tracking
mHealth Solutions for Wellness Management
mHealth Solutions for Patient Monitoring

mHealth Solutions Market by End User:

mHealth Solutions for Physicians
mHealth Solutions for Patients
mHealth Solutions for Hospitals
mHealth Solutions for Healthcare Insurance Vendors

mHealth Solutions Market by Region:

North America mHealth Solutions Market
Latin America mHealth Solutions Market
Europe mHealth Solutions Market
East Asia mHealth Solutions Market
South Asia & Pacific mHealth Solutions Market
Middle East & Africa (MEA) mHealth Solutions Market

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.