mHealth Solutions Market Trends, Drivers & Opportunities [Latest Report 2032]

As per the report published by The Brainy Insights, the global mHealth market is expected to grow from USD 50 billion in 2022 to USD 465.66 billion by 2032, at a CAGR of 25% during the forecast period 2023-2032. North America emerged as the most prominent global mHealth market, with a 40% market revenue share in 2022. The increasing incidence of obesity, cardiovascular, pulmonary and other chronic devices is increasing the demand for mHealth in the market. The increasing geriatric population is also contributing to the market's growth. The increasing demand for fitness apps which track heart health, oxygen levels, nutrition intake and daily steps from individuals adopting an active and healthy lifestyle will propel the market's growth. The presence of a well-established and connected network with the necessary telecommunications infrastructure offers a prospective market for the mHealth industry.

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Global mHealth Market Size by Product Type (Applications and Wearables), Application (Monitoring Services, Diagnostics Services, Fitness and Wellness Services, Treatment Services, Healthcare Systems Strengthening Services and Others), End User (Healthcare Providers, Patients, Health Insurance Providers, Pharmaceuticals Companies, App Companies and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2023 to 2032

Leading companies in the industry include Bayer Healthcare, Boston Scientific Corporation, Dexcom, Inc., Fitbit Inc., Johnson and Johnson, Koninklijke Philips N.V., Medtronic Plc., Omron Healthcare Co. Ltd., Samsung Electronics Co., Ltd., Sanofi, among others, are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The product type segment is divided into applications and wearables. The applications segment dominated the market, with a market share of around 57% in 2022. The increasing automation and digitization of economies have encouraged the development of healthcare apps to facilitate Remote patient monitoring, improve patient-physician communication and reduce disease burden by increasing health awareness. The application segment is divided into monitoring services, diagnostics services, fitness and wellness services, treatment services, healthcare systems strengthening services and others. The monitoring services segment dominated the market, with a market share of around 38% in 2022. Monitoring apps reduce hospitalizations as remote monitoring is effective, efficient and secure. The end-user segment is divided into healthcare providers, patients, health insurance providers, pharmaceutical companies, app companies and others. The healthcare providers segment dominated the market, with a market share of around 40% in 2022. The healthcare industry is witnessing a rise in digitization and automation. The potential of technology is being exploited for the benefit of the healthcare industry by both private and public players. Healthcare providers use medical applications, devices and wearables in various areas to meet multiple objectives. It is being used to streamline administration, reduce paperwork, improve efficiency, service delivery, and reduce downtime. It collects, processes, maintains and retains health records for easy access to patient treatment and policymaking. It is also being used to improve cooperation and coordination between departments to improve patient outcomes. They are also using it to spread awareness and to impart education.

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According to the World Health Organisation, 5% of people globally suffer from depression. Depression is the most prevalent disability in the world, and it affects people's daily lives, according to reports. A few causes include stressful circumstances, loneliness, alcoholism, drug abuse, illness, family history, traumatic childhood events, or giving birth. Approximately 75% of the population in low- and middle-income countries lacks mental health services. But when mental health is more widely recognised and supported by governments worldwide, the market will profit. The market will grow due to the use of mHealth to raise awareness of mental health issues and provide simple access to treatment alternatives with data protection.

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