MHealth Market To Deliver Prominent Growth & Striking Opportunities During 2032

Market Definition

MHealth Market" refers to the evolving sector within the healthcare industry that utilizes mobile technologies, such as smartphones, tablets, wearables, and other wireless devices, to support and enhance medical and health-related services. This includes the use of mobile applications, connected devices, and other digital tools to facilitate communication between healthcare providers and patients, monitor health metrics, deliver healthcare information, and manage various aspects of healthcare remotely.

Market Outlook

The MHealth Market was valued at USD 112.3 Billion in 2022 and it is anticipated to grow up to USD 209.4 Billion by 2032 at a CAGR of 6.4% during the forecast period.

mHealth is defined as a separate branch of eHealth, which deals with the collection of patient data. This patient data is collected through wireless electronic means such as cell phones, wearable and other mHealth devices. In addition, the collected patient data is stored in the cloud remotely using mHealth application. This stored data is made available to healthcare professionals for the purpose of analyzing health-related parameters. For example, the mHealth Blood Pressure Monitor collects data related to patient BP fluctuations. These values ​​are immediately checked by healthcare professionals to determine the severity of the condition. In addition, various types of medical devices and services are available in the market. For example, blood glucose monitor, BP monitor, pulse oximetry, neurological monitoring, heart monitor, apnea and sleep monitor, and others.

The rising focus on improving personal health and fitness using smart devices and wearables is the major factor accelerating market growth. Besides, increasing penetration of the internet and smartphones and growing adoption of mHealth technology and platforms by physicians and patients are also anticipated to propel market growth. Furthermore, the rising penetration of digital health services for remote patient monitoring is also increasing the demand for mobile health apps, which in turn is expected to propel market growth over the forecast years. In addition, the increasing use of smartphones among the adult population and teenagers is also anticipated to drive the growth of mHealth platforms and technologies in the upcoming years. Moreover, the shift in trend from conventional healthcare practices to patient-centric and preventive approaches is also anticipated to drive the market for mHealth over the years. The high preference for mobile medical platforms and the positive attitude of healthcare professionals toward real-time patient care are also likely to accelerate the growth of the market during the forecast years.

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Research Objectives

• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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Market Segmentation

By product & services, the MHealth Market is segmented into mHealth Apps, Connected Medical Devices, mHealth Services. The mHealth Apps segment held the largest market share of xx% in 2022 and is expected to grow at a significant CAGR over the forecast period. The mHealth apps segment dominated the market for mHealth and accounted for the largest revenue share of 76.5% in 2022. Increasing penetration of the internet and smartphones and the growing adoption of mobile health apps by healthcare professionals and the patient population are the factors responsible for the high market value of the segment. Furthermore, growing awareness regarding mobile health apps for remote patient monitoring, patient tracking, medication management, disease management, fitness and wellness, women's health, personal health record management, etc. are also anticipated to drive the fastest CAGR during the forecast period.

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Major Players

The key players in the market are AgaMatrix, Inc. (US), AIRSTRIP TECHNOLOGIES, INC. (US), Apple Inc. (US), AT&T Inc. (US), athenahealth, Inc. (US), iHealth Labs, Inc. (US), Koninklijke Philips N.V. (Netherlands), Medtronic (US), OMRON HEALTHCARE Co., Ltd. (Japan), and TrueCare24, Inc. (US).

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Research Scope

• Scope - Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing - Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics - Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework - Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape - Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles - Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2022 - $112.3 bn
• Market Size in 2032 - $209.4 bn
• CAGR % - 6.4%
• Historic Period - 2016-2021
• Forecast Period - 2023-2032
• Base Year - 2022

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This release was published on openPR.