Mobile Health (mhealth) Market to gain market growth at a potential rate of 35.18%,industry trends

MHealth is defined as a diverse branch of eHealth that deals with patient data collection. This patient-related data is gathered using wireless electronic devices such as mobile phones, wearable devices, and other mHealth devices. Furthermore, using a mHealth application, the collected patient data is stored on a remote cloud.

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The number of internet applications in healthcare has grown exponentially in recent years. The internet has connected all points in healthcare administration/services, resulting in the creation of a separate network for healthcare known as the Internet of Things (IoT). Healthcare professionals can deliver health information to consumers more conveniently, in less time, and at a lower cost with the help of the internet.

Mobile health (mhealth) market is expected to gain market growth at a potential rate of 35.18% in the forecast period of 2020 to 2029 and would reach an estimated value of 230.33 billion by the end of the forecast period. Increased penetration of smartphones, tablets, and other similar devices, rising technological advancements in internet connectivity to provide uninterrupted healthcare services, and rising prevalence of chronic and other infectious diseases are the major factors driving the mHealth market's growth.

Opportunities

.The rise in the prevalence of lifestyle disorders, the integration of wireless technologies with portable healthcare devices, technological innovations, and favourable government initiatives are the major factors driving the growth of the mHealth market. Furthermore, the affordability of smartphones and the increased adoption of mHealth among medical professionals drive the growth of the mobile health market.

Drivers

Rise in the adoption of health apps

Increased adoption of connected devices and mHealth apps for the management of chronic and infectious diseases is propelling market growth forward. One of the major factors driving the growth of the mHealth market is the advancement of advanced mobile solutions

Some of the major players operating in the mobile health (mhealth) market are

Koninklijke Philips N.V. (Netherlands)

Abbott (US)

Medtronic (Ireland)

Johnson & Johnson Private Limited (US)

Apple, Inc. (US)

AirStrip Technologies Inc. (US)

AliveCor India (US)

Omron Corporation (Japan)

BioTelemetry, a Philips Company (US)

athenahealth, Inc. (US)

Medical apps

Medical reference apps

Continuing medical education apps

Patient management and monitoring apps

Communication and consulting apps

On the basis of medical apps, the mHealth market is classified into medical reference apps, continuing medical education apps, patient management and monitoring apps and communication and consulting apps.

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