mHealth Market Is Expected To Reach USD 21.71 Billion at a CAGR of 36.5% By 2022

mHealth Market Is Expected To Reach USD 21.71 Billion at a CAGR of 36.5% By 2022

mHealth Market
mHealth Market Analysis By Future Outlook, Key Players, Trends, Insights, Dynamics, Applications and Segmentation, Forecast to 2022

mhealth Market Size, Growth and Share Analysis By Application (Monitoring, Diagnosis & Treatment, Wellness & Prevention), Therapeutics (Respiratory, Mental and Neurological Disorders, Fitness & Lifestyle) – Forecast to 2022

mHealth Market Outlook

Global Mobile Health (mHealth) Market is expected to reach USD 21.71 billion at a CAGR of 36.5% during the forecast period (2016-2022). The rising use of mobile devices among healthcare professionals has led to the transformation of various aspects of clinical practice. It has resulted in the strong development of medical software applications (apps) for such platforms. Mobile devices and apps offer several benefits to healthcare professionals, including increased access to point-of-care tools that support enhanced clinical decision-making and also improve patient outcomes.

Some additional factors favoring the market growth include the rising awareness levels among the mass regarding the potential benefits of healthcare management, hike in need of point-of-care diagnosis and treatment, and rising focus on personalized medicine and patient-centered approach.

With the rapid technological developments in mHealth research, opportunities and challenges have emerged in the market. These include creation of scalable systems that collect unprecedented amounts of data as well as conducting interventions and simultaneously protect the safety and privacy of researchers. With that said, the market could take a hit in the form of strict regulatory policies for mHealth applications in the ensuing years.

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Mobile health (mHealth) is an emerging sector in the healthcare sector deemed to provide advice to patients through their mobile applications. The large penetration of smartphones, tablets, and other mobile devices due to the ease offered in making calls and other advantages has given mHealth applications a wide area to flourish. The global mHealth market report by Market Research Future (MRFR) has been compiled through painstaking analysis of customer needs and latest technological offerings by physicians and hospitals.

mHealth Market Segmentation Analysis

The segmental analysis of the worldwide mHealth market has been done on the basis of therapeutics and applications.

Depending on therapeutics, the mHealth market is considered for respiratory, mental and neurological disorders, diabetes, fitness & lifestyle therapeutics, and others.

Application-wise, the mHealth market can be segmented into diagnosis & treatment, monitoring applications, healthcare management, education and awareness, wellness & prevention, and remote data collection.

mHealth Market Regional Analysis

The geographical distribution of the global mHealth market covers Asia Pacific, Europe, the Americas, along with the rest of the world (RoW).

The Americas has been identified as the principal market for mHealth. Rising use of smartphones, increase in 3G and 4G networks, and expanding aging population are factors that benefit the regional market. The United States (U.S.) is responsible for the most number of mobile health deployments in the world. Close to 40% of the deployed solutions in the region aim to strengthen the healthcare systems. Numerous mobile apps created for wellness and fitness are also abounded in the U.S., constituting almost 13% of the overall mobile health deployments the world over.

Asia Pacific is the second most profitable market for mHealth. The main reasons responsible for the high profits could be the mounting awareness of diseases among people coupled with the high penetration of mobile platforms. Several countries in the region are adopting digital health strategies to manage healthcare delivery. Citing a reference, in the year 2015, Japan Post, a health and life insurance giant developed mobile health devices for elderly citizens. This initiative aids the company in collecting more data about its customers, improving their overall health.

Europe market’s growth is expected to be substantial in the near future. Established healthcare infrastructure, rising occurrences of disease, and surge in awareness about health disorders could be the chief drivers of the said market growth. In 2017, Germany was the biggest market for mhealth in the region, with UK close behind. Favorable adoption rate, shifting consumer inclination towards healthier standards of living, and penetration of connected medical devices and smartphones are some more factors adding to the strength of the regional market.

mHealth Market Competitive Outlook

Allscripts, Agamatrix, Inc., Medtronic MiniMed, Inc., Honeywell International Inc., Vivify Health, iHealth Labs Inc., and Apple Inc. are some of the key players operational in the global mHealth applications market.

Majority of the players in the global mHealth applications market are turning to alliances and partnerships to sustain their foothold. Mobile operators are allying with mHealth service providers due to their large subscriber base.

mHealth Industry News

Tandem Diabetes Care recently got approval for its Control-IQ Technology by the U.S. FDA to be used in insulin pumps. The algorithm allows automated insulin delivery while connected to an insulin pump and continuous glucose monitor. The approval was sanctioned due to the controller’s ability to deliver precise doses to type 1 diabetes patients without any external help.

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