Mobile Health (mHealth) Market Share, Size, Trend, Demand, Analysis By Top Leading Players And Forecast Till 2033

The Business Research Company recently released a comprehensive report on the Global Mobile Health (mHealth) Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The mobile health (mHealth) market size has grown rapidly in recent years. It will grow from $72.69 billion in 2023 to $84.99 billion in 2024 at a compound annual growth rate (CAGR) of 16.9%. The growth in the historic period can be attributed to the rising adoption of smartphones, high growth of mHealth solutions, increasing incidence of chronic diseases, increasing demand for remote monitoring and management solutions, and rising promotion of digital health and telemedicine.

The mobile health (mHealth) market size is expected to see rapid growth in the next few years. It will grow to $159.66 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%. The growth in the forecast period can be attributed to increasing preference for at-home care solutions, incorporation of AI and machine, 5G technology will enable faster and more reliable connections, growing awareness of health and wellness is leading, increased usage of fitness apps and wearable devices. Major trends in the forecast period include increase in mergers and acquisitions, trend towards more personalized mHealth applications, increasingly integrate with electronic health records (EHR), expected to be a growing emphasis on mHealth applications, demand for mental health services.

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Market Drivers and Trends:

The rising prevalence of chronic diseases will propel the growth of the mobile health (mHealth) market going forward. Chronic diseases refer to health conditions that are persistent or long-lasting, typically lasting for a year or more, and often require ongoing medical attention or limit daily activities. The increase in chronic diseases is largely due to aging populations, with longer lifespans leading to more long-term health conditions. Mobile health aids in managing chronic diseases by offering tools for health monitoring, improving communication with doctors, and supporting treatment adherence. For instance, in June 2024, according to the National Health Service, a UK-based publicly funded healthcare system in England, there were 3,615,330 people registered with a GP who were found to have non-diabetic hyperglycemia-also known as pre-diabetes-in 2023, compared to 3,065,825 in 2022-an increase of almost a fifth (18%). Therefore, the rising prevalence of chronic diseases is driving growth in the mobile health (mHealth) market.

Major companies operating in the mobile health (mHealth) market are developing whole-person care digital apps to provide comprehensive and personalized healthcare solutions. A whole-person care digital app is a healthcare tool that offers comprehensive care by integrating physical, mental, and emotional health services into one platform. For instance, in January 2023, Teladoc Health, a US-based healthcare company, launched a fully integrated digital health app. It provides a fully integrated healthcare experience and enables users to access primary care, mental health services, and chronic condition management through a single account. It is available in both Spanish and English and features easy navigation, integrated physician care plans, and coordination with in-person providers to ensure comprehensive care.

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Major Key Players of the Market:

Apple Inc., Samsung Group, Huawei Technologies Co. Ltd., Oracle Corporation, Abbott Laboratories, Xiaomi Corporation, Medtronic plc, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies, Omron Corporation, Garmin Ltd., Hill-Rom Holdings Inc., Dexcom Inc., Masimo Corporation, Nihon Kohden Corporation, Polar Electro Oy, Verily Life Sciences LLC, Withings S.A.S., Empatica Inc., TempTraq, LifeSense Group B.V.

Mobile Health (mHealth) Market 2024 Key Insights:

• The mobile health (mHealth) market size is expected to see rapid growth in the next few years. It will grow to $159.66 billion in 2028 at a compound annual growth rate (CAGR) of 17.1%.
• Rising Prevalence Of Chronic Diseases Drives mHealth Market
• Technological Advancements In Health App Enhances mHealth
• North America was the largest region in the mobile health (mHealth) market in 2023

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