MHealth Industry Overview
The global mHealth market size is expected to reach USD 130.6 billion by 2030 and is expected to expand at a CAGR of 10.8% over the forecast period, according to a new report by Grand View Research, Inc. Increasing adoption of mHealth apps and technologies by physicians and patients and rise in penetration of internet and smartphone connectivity are among the major factors expected to drive the growth of the market. Besides, increasing government initiatives towards the digitalization of healthcare services are also anticipated to boost the adoption of mobile health platforms.
Based on component, mHealth apps dominated the market and accounted for revenue share of 75.4% in 2021. This high share is attributable to constantly developing startup ecosystems across the globe and increasing investments by key players to develop new health-based apps. In addition, benefits provided by these apps in maintaining health and lifestyle and managing health condition are some of the other factors boosting the growth of the segment.
Based on services, the monitoring services segment dominated the market with a revenue share of 61.5% in 2022. Monitoring services mainly involve the observation of health conditions, diseases, and other complicated medical parameters for a defined time. The rising prevalence of chronic diseases and increasing preference for remote monitoring services in post-acute care are some of the factors contributing to the growth of this segment. In addition, increasing investments by the key players in mobile health apps for patient monitoring is also expected to propel the segment growth over the years.
Based on participants, the mobile operators segment accounted for the highest revenue share of 46.6% in 2022. This is attributed to an increase in the use of 4G and 3G technologies, improvements in the network infrastructure, and a rise in the number of mobile subscribers. Furthermore, an increase in the number of industry activities, such as collaborations and partnerships, is also another significant factor propelling the growth of the segment. For instance, in 2021, Allscripts announced its collaboration with Blessing Health System, a non-profit organization. Under the partnership, Blessing Health System has adopted Allscripts’ health platform to 3 of its facilities in the U.S. In addition, it has also acquired Allscripts Managed Services and extended its agreement till 2028.
By region, North America is the leading region in the market contributed a revenue share of 37.1% in 2022. Several major factors including growing healthcare expenditure, increasing geriatric population, rise in network infrastructure, growing incidence of chronic diseases are accelerating the adoption of mobile health platforms in this region. In addition, increasing adoption of mHealth apps and favorable government initiatives are also propelling the demand for mHealth services in the region.
Increased utilization of mobile health platforms and technologies, including apps, during the COVID-19 pandemic has led to an increase in the growth of the market in 2020. Several government initiatives to launch mHealth apps during COVID19 are also responsible in driving the adoption of mHealth apps during this period. Furthermore, increasing internet penetration and adoption of digital health technologies for remote diagnosis and analysis of patient data are the major factors responsible for the high adoption of mobile health technologies during the COVID-19 pandemic. Moreover, the restrictions and fear of COVID19 infection have further fueled the adoption of mobile health technologies and apps which in turn are expected to accelerate the market growth over the forecast years.
MHealth Market Segmentation
Grand View Research has segmented the global mHealth market based on component, services, participants, and region:
Based on the Component Insights, the market is segmented into Wearables and mHealth Apps.
- The mHealth appssegment 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.
Based on the Services Insights, the market is segmented into Monitoring Services, Diagnosis Services, Healthcare Systems Strengthening Services and Others.
- The monitoring services segment dominated the market for mHealth and accounted for the highest revenue share of 61.5% in 2022. The growing incidence of infectious and chronic diseases coupled with rising demand for remote monitoring platforms in post-acute care are among the major factors that drive the growth of the segment.
- The diagnosis services segment is anticipated to witness the fastest growth rate over the forecast years. The growing number of applications and platforms that are capable of diagnosis and increase in health consciousness are the major factors driving the segment.
Based on the Participants Insights, the market is segmented into Mobile Operators, Device Vendors, Content Players and Healthcare Providers.
- The mobile operators segment dominated the market for mHealth and accounted for the largest revenue share of 46.6% in 2022. An increase in the number of mobile subscribers and improvements in network infrastructure are major factors responsible for the highest share of the segment.
- The content players segment is anticipated to witness the fastest growth rate during the forecast years. The increasing trend of using smartphones, coupled with the rapid development of several healthcare mobile apps are the factors likely to boost the growth of this segment.
MHealth Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East Africa (MEA)
Key Companies Profile
Increasing demand for technologically advanced mobile health platforms and services is responsible for the high competition among the existing players. Growing acceptance and awareness to adopt healthcare applications is likely to provide opportunities for the entry of new players in the coming years.
Some prominent players in the global MHealth market include
- ATT
- Telefonica S.A.
- SoftServe
- Google, Inc.
- Airstrip Technologies, Inc
- Samsung Electronics Co. Ltd.
- Allscripts Healthcare Solutions
- Apple, Inc.
- Orange
- mQure
- Qualcomm Technologies, Inc.
- Vodafone Group
Order a free sample PDF of the MHealth Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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