[2023-2030] mHealth Market To See Incredible Growth with a CAGR of 22.3% | Top Key Players are Fitbit, Inc, Apple Inc, DEXCOM and Others

The Global mHealth Market was valued at USD 35.2 billion in 2021 and is expected to grow to USD 293.2 billion by 2030, at a CAGR of 22.3% during the forecast period. The primary driver fueling market growth is the growing emphasis on leveraging smart devices and wearable to improve personal health and fitness.

Additionally, it is projected that increased mHealth platform and technology use by doctors and patients as well as rising internet and smartphone usage will fuel industry growth.

The term "mHealth," or "mobile healthcare," refers to the use of portable electronic devices including tablets, wireless infrastructure, and personal digital assistants to improve public and medical health. All multimedia and telecommunications functionalities utilized to offer health and healthcare data are included in the subset of digital health known as "mHealth." MHealth is defined as the gathering of patient data. Patient data is gathered through wireless electronic devices including mobile phones, wearables, and other mHealth devices.

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Key Market Players to Invest in R&D Activities to Increase Their Market Share:
The fierce competition between the global mHealth market's current participants is driven by the rise in demand for technologically cutting-edge mobile health platforms and services. The adoption of healthcare applications is becoming more widespread, which will likely open up prospects for new businesses to enter the market.

The top market players are also expected to increase their share of the market through increasing industry consolidation activities including acquisitions and mergers, as well as rising R&D investments for mobile health applications.

Leading businesses profiled in the global mHealth Market include:-
• Fitbit, Inc.
• Apple Inc.
• DEXCOM
• Jawbone Health Hub, Inc.
• Omada Health, Inc.
• Airstrip Technologies, Inc.
• BioTelemetry, Inc.
• Livongo Health
• Allscripts Healthcare Solutions
• AT&T
• Boston Scientific Corporation
• Omron Healthcare, Inc.

SEGMENTATION

By Component
• Wearable
• Apps

By Provider
• mhealth App Companies
• Pharmaceutical Companies
• Hospitals
• Health Insurance Providers
• Others

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By Service Type
• Monitoring
• Diagnostic
• Treatment

Rising Prevalence of Chronic Diseases to Support Monitoring Segment Growth:

On the basis of the service type segment, the global mHealth market is segmented into monitoring, diagnostic & treatment. The monitoring segment has dominated the global mHealth market share in 2021 on account of the rise in prevalence rate of infectious and chronic diseases, along with the growing demand for remote monitoring platforms in post-acute care.

For instance, China is experiencing a significant societal concern as the number of people with chronic illnesses rises. The majority of these chronic conditions require continual monitoring, which is increasing demand in the nation for advanced monitoring services. Additionally, it is anticipated that over time, segment expansion would be aided by the major market businesses' increased investments in inpatient monitoring.

Growing mHealth Applications Usage for Better Communication to Drive the Market Growth:

The global mHealth market is predicted to grow due to the expanding uses of mHealth applications for better communication between doctor and patient. The benefits include supplying new healthcare professionals with training and assisting current workers in enhancing job satisfaction and lowering turnover, both of which are required to meet basic human capital requirements.

Furthermore, the demand to increase communication across different healthcare departments in order to deliver more efficient patient care is becoming increasingly crucial, propelling further market growth.

By Region
• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Increasing Adoption of Digital Technologies in North America to Support Regional Market Growth:

North America is anticipated to dominate the revenue share of the global mHealth market due to the growing adoption of digital technologies, along with the availability of numerous mHealth applications. The market's expansion has been significantly impacted by these factors. The adoption of mobile health solutions is being fueled by the aging population as well as the rising prevalence of several chronic diseases.

However, the Asia Pacific region is expected to grow significantly in the global mHealth industry over the coming years due to the rising frequency of chronic diseases, which would greatly expand the regional mHealth market size. Additionally, usage of mobile broadband is rapidly rising throughout the Asia Pacific, supporting regional growth.

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Notable Industry Developments -
● October 2020- Fitbit and the U.S. Army Medical Research and Development Command (USAMRMC) joined together to begin a COVID-19 mHealth study and create a linked health platform to monitor the disease's effects on American service members and identify its early warning signals.

TABLE OF CONTENTS:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On mHealth Market
Chapter 5. Global mHealth Market Overview, By Component, 2017 - 2030(USD Million)

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