MHealth Market Overview
MHealth Market size is forecast to reach $287.65bn by 2025, growing at a CAGR of 23.8% during the forecast period 2020-2025. MHealth (mobile health) is a general term for the use of mobile phones and other wireless technology in medical care. The most common application of MHealth is the use of mobile devices to educate consumers about preventive healthcare services. Uses of portable healthcare devices like Glucaphone, independent aging solutions and patient monitoring services are becoming increasingly popular in the MHealth Market. Growing demand for digital products and services, rising need for instant medications at home and government initiatives for preventive digital healthcare are driving the market growth in recent years. In addition, demand for digital medical updates for novel coronavirus (COVID-19) and major product launches of key players like Tenncare and Sanofi are other factors driving the growth of the market.
The report: “MHealth Market Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the MHealth Market.
By Devices: Blood Glucose Meter, BP Monitors, Pulse Oximetry, Neurological Monitoring, Cardiac Monitors, Apnea and Sleep Monitors, Wearable Fitness Sensor Device and Heart Rate Meters, and Others
By Services: Prevention, Diagnostic Services, Monitoring Services, Treatment, Wellness and Healthcare System Strengthening Solutions
By Stakeholders: Mobile Operators, Device Vendors, Healthcare Providers, Application/ Content Players
By Application: Cardiovascular, Diabetes, Respiratory, Neurology, and Others
By Geography: North America, Europe, Asia-Pacific, and Rest of the World
- Asia-Pacific dominates the MHealth Market in the year 2019 owing to rising prevalence of chronic diseases among the geriatric population, increasing government intervention for healthcare needs, developed healthcare IT infrastructure and growing investments on digital health sectors. The MHealth Market scope for different regions will be provided in the final report.
- Growing incidences of diseases and other health problems owing to changing lifestyles standards, increasing investments in healthcare sector, growing fatalities from chronic diseases and diabetes, and various advantages of MHealth like instant care, and connectedness and convenience have helped in significant growth of MHealth Market.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the MHealth Market report.
- Lower awareness about MHealth in less developed countries is anticipated to hamper the market growth of the MHealth Industry.
Services - Segment Analysis
Monitoring services held the largest share in the services segment of MHealth Market in 2019 and is estimated to grow at a CAGR of 19.5% during the forecast period 2020-2025. Chronic diseases impose heavy burden and costs on the health industry in many countries. Suitable health procedures, management, and prevention of disease by continuous monitoring through modern technologies can lead to a decrease in health costs and improve people empowerment. Applying remote medical diagnosis and monitoring system based on mobile health systems can help significantly reduce health care costs and correct performance management particularly in chronic disease management. Increasing prevalence of chronic disorders and demand for quicker monitoring have driven market growth in the recent years. Devices and pumps held the second largest share in 2019. Diagnostic Services held the second largest share in 2019, owing to increasing applications of mobile diagnosis in IVR-based services, mobile telemedicine, and call center services. Diagnostic Services is set to be the fastest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025, owing to demand for cloud computing, mobile technologies in clinical diagnosis and new collaborations of key market players like the one between digital health vendor HealthTap and diagnostic information provider Quest Diagnostics which would allow physicians to order different types of diagnostic and laboratory tests via a virtual care platform.
Stakeholders - Segment Analysis
Mobile Operators holds the major share in the stakeholders segment of MHealth Market in 2019. Increasing number of mobile internet users in the last decade, ease and benefits of health services staying at home and growing knowledge among the masses about have driven the market growth of this segment. Almost 4.57 billion people were active internet users as of April 2020, encompassing 59 percent of the global population. With these, creators of applications and other services for mobile health is set to drive market growth of this segment in upcoming years. Healthcare providers is forecast to grow at the fastest rate with the highest CAGR during the forecast period 2020-2025, owing to recommendation routine clinical practice via the digital care route, increasing recommendations and need for digital health updates, especially during the times when patients is set to be unable to attend the doctor.
Geography - Segment Analysis
Asia-Pacific dominates the geography segment of MHealth Market with a share of more than 44.8% in 2019, followed by Europe. Growing prevalence of chronic diseases among the geriatric population, increasing government intervention for healthcare needs, developed healthcare IT infrastructure and growing investments on digital health sectors have helped in the growth of MHealth Market infrastructure. The growing popularity of MHealth is highlighted by the rising dollar amounts invested by the government in such technology. Venture capital investment in MHealth technology increased 35 percent from the first half of 2012 compared to the first half of 2013, jumping from $229 million to $310 million. North America held the second place in the geography segment share of the market, owing to high adoption of digital technologies, increasing users of mobile services for digital health updates, rising awareness about benefits and innovations of MHealth and presence of key market players in this region.
Asia-Pacific is estimated to continue growing at the fastest rate at a higher CAGR during the forecast period 2020-2025. This is owing to growth of healthcare sector, increasing awareness about chronic disease treatment, and increasing consumer engagement in digital care.
Drivers – MHealth Market
- Growing incidences of diseases and other health problems owing to changing lifestyles standards
The burden of chronic diseases is rapidly increasing worldwide. It is estimated that by 2025, chronic diseases is set to contribute approximately to 60% of the 56.5 million total reported deaths in the world and approximately 46% of the global burden of disease. On the other hand, diabetes is the direct cause of 3 million deaths every year. In view of the earlier therapies, MHealth applications are relatively newer and advanced, hence more in demand for the treatment of these diseases to help people become aware about them. In recent months, there is a huge demand of MHealth for COVID-19, regarding updates on safety and sanitization, which has further aided the market growth.
- Rising consumer awareness
MHealth are in widespread use in clinical settings such as hospitals, nursing homes, and in the home. The built-in user-friendly interfaces of MHealth applications eases the process of medication and health awareness. MHealth offers significant advantages, including the instantaneous health care guiding and user convenience. It is intuitive to exploit the growing worldwide popularity of cell phones and other such personal electronic devices, to create more convenient healthcare for all. As a result, the key medical organizations are set to invest more in MHealth, and this is projected to drive the Infusion Market growth during the forecast period 2020-2025.
Challenges – MHealth Market
- Lower awareness about MHealth in less developed countries
In spite of the fact that a big chunk of the population is engaged in mobile healthcare, still some less developed countries are struggling to help people reach the healthcare services digitally. Thus, it is anticipated to hamper the market growth during the forecast period 2020-2025.
MHealth Industry Outlook
Product launches, mergers and acquisitions, joint ventures and R&D activities are key strategies adopted by players in the MHealth Market. In 2019, MHealth Market share is consolidated by the top players present in the market. MHealth Market top 10 companies are AT&T Inc., Bayer Healthcare (a division of Bayer), Boston Scientific Corporation, Johnson & Johnson, TennCare, Masimo Corporation, Omron healthcare, Philips healthcare (a division of Royal Philips company), Sanofi and AirStrip Technologies among others.
- In May 2020, TennCare launched a MHealth program targeting care management and medication adherence in Medicaid members being treated for Hepatitis C. The platform also addresses access issues brought about by the COVID-19 crisis.
- In September 2019, Sanofi is partnering with a digital therapeutics company to develop a MHealth platform that would help people living with multiple sclerosis who are also having mental health problems.
- In August 2016, Philips launched MHealth Product Line. This would be available for use on prescription by physicians.
1. MHealth Market Overview
1.1 Definitions and Scope
2. MHealth Market - Executive Summary
2.1 Market Revenue and Key Trends by Company
2.2 Key trends by Services
2.3 Key trends by Stakeholders
2.4 Key trends by Geography
3. MHealth Market – Comparative Analysis
3.1 Product Benchmarking – Key Companies
3.2 Financial Analysis – Key Companies
3.3 Market Value Split by Key Companies
3.4 Patent Analysis – Key Companies
3.5 Pricing Analysis
4. MHealth Market - Startup Companies Scenario (Premium)
4.1 Key Startup Company Analysis by
4.1.3 Venture Capital and Funding Scenario
5. MHealth Market – Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case Studies of Successful Ventures
6. MHealth Market Forces
6.1 Market Drivers
6.2 Market Constraints/Challenges
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. MHealth Market – Strategic Analysis
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Market Life Cycle
8. MHealth Market – By Devices (Market Size –$Million/$Billion)
8.1 Blood Glucose Meter
8.2 BP Monitors
8.3 Pulse Oximetry
8.4 Neurological Monitoring
8.5 Cardiac Monitors
8.6 Apnea and Sleep Monitors
8.7 Wearable Fitness Sensor Device and Heart Rate Meters
9. MHealth Market – By Services (Market Size –$Million/$Billion)
9.2 Diagnostic Services
9.3 Monitoring Services
9.5 Wellness and Healthcare System Strengthening Solutions
10. MHealth Market – By Stakeholders (Market Size –$Million/$Billion)
10.1 Mobile Operators
10.2 Device Vendors
10.3 Healthcare Providers
10.4 Application/ Content Players
11. MHealth Market – By Application (Market Size –$Million/$Billion)
12. MHealth Market – By Geography (Market Size –$Million/$Billion)
12.1 North America
12.2.6 Rest of Europe
12.3.4 South Korea
12.3.5 Australia & New Zealand
12.3.6 Rest of Asia-Pacific
12.4 Rest of the World
12.4.1 Middle East
12.4.3 South America
13. MHealth Market - Entropy
14. MHealth Market – Industry/Segment Competition Landscape (Premium)
14.1 Market Share Analysis
14.1.1 Global Market Share – Key Companies
14.1.2 Market Share by Region – Key companies
14.1.3 Market Share by Countries – Key Companies
14.1.4 Best Practices for Companies
15. MHealth Market – Key Company List by Country Premium (Premium)
16. MHealth Market Company Analysis
16.1 Company 1
16.2 Company 2
16.3 Company 3
16.4 Company 4
16.5 Company 5
16.6 Company 6
16.7 Company 7
16.8 Company 8
16.9 Company 9
16.10 Company 10 and more
"*Financials for private companies would be provided on a best efforts basis”.
LIST OF TABLES
LIST OF FIGURES1.US Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
2.Canada Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
3.Mexico Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
4.Brazil Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
5.Argentina Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
6.Peru Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
7.Colombia Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
8.Chile Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
9.Rest of South America Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
10.UK Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
11.Germany Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
12.France Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
13.Italy Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
14.Spain Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
15.Rest of Europe Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
16.China Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
17.India Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
18.Japan Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
19.South Korea Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
20.South Africa Asia-Pacific MHealth Market Revenue, 2019-2024 ($M)
21.North America Asia-Pacific MHealth By Application
22.South America Asia-Pacific MHealth By Application
23.Europe Asia-Pacific MHealth By Application
24.APAC Asia-Pacific MHealth By Application
25.MENA Asia-Pacific MHealth By Application