MHealth Market - Forecast(2022 - 2027)

Report Code: HCR 46794 Report Format: PDF + Excel

MHealth Market Overview

MHealth Market size is estimated to reach $310 billion by 2027, growing at a CAGR of 27.4% during the forecast period 2022-2027. MHealth exemplifies as “Mobile Health”, and can be described as set off mobile applications and electronic devices which support the health of people in the 21st century.  With expeditious technological progressions, many portable healthcare devices have come to the forefront such as Blood Glucose monitors, portable Bluetooth devices, heart monitors, patient monitors, and many more. These devices stockpile data and this data can be used by doctors in case of necessity while diagnosing the patient or prescribing a medication. The trend of health monitoring services is budding as these take care of individuals' health in their eventful lives. Devices like SIMpill tape-record the time logs whenever medication is taken out of them and remind if on any given day patients forget to take the dose. Lengthening health responsiveness among people and augmented hazard of long-lasting sicknesses are set to drive the growth of the MHealth Industry for the period 2022-2027.

Report Coverage:

The report: “MHealth Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the MHealth Market. 

By platform: MHealth applications, Wearable devices, Heart monitors, and Others.

By Application: Intensive Care, Edification And Alertness, Diagnostic And Treatment, And Data Assortment, Etc.

By End User: Patients, Government, Hospitals, Pharmacies, clinicians, etc. 

By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways:

  • Geographically, the North America MHealth Market accounted for the highest revenue share in 2021. However, Asia-Pacific is poised to dominate the market over the period 2022-2027 owing to the rise in usage of the internet in Asian nations such as India and China.
  • The advancing technologies and growing smartphone industry are driving the MHealth Market. However, technical complications and data privacy issues are one of the major factors that are said to reduce the growth of the MHealth Market.
  • Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the MHealth Market report.

    MHealth Market- Geography (%) for 2021


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MHealth Market Segment Analysis - By Platform

The MHealth Market based on the Platform type can be further segmented into MHealth applications (Nutrition guide apps, fitness, and mental health applications, weight loss/gain applications, Women health-specific applications, Clinician on request applications, data trailing and recording apps, appointment applications), Wearable devices (Blood Glucose monitor, Distance traveled and step counting watches, Heart monitors, patients monitors and many more). The MHealth application segment held the largest share owing to the factors such as ascension in health awareness among people around the globe, elevating health benefits such as better metabolism, reduce various complications such as obesity.

Similarly, the MHealth Application segment is estimated to be the fastest-growing segment with a CAGR of 28.2% over the period 2022-2027. This growth is owing to rapid modernization, growing smartphone users, broadening the concept of satellite internet access. For example, around 4.88 billion people around the Globe have internet access, which roughly translates to about 62% of the global population.

MHealth Market Segment Analysis - By Applications 

The MHealth Market based on the Application type can be further segmented into Intensive care, education and alertness, Diagnostic and treatment, and data assortment, etc. The Intensive care segment held the largest share in 2021 owing to factors such as a convenient way of monitoring an individual’s health, the most affordable and effective alternative to extortionate health care procedures which most people can’t afford, shifting attitudes of people from treatment to prevention.

However, the Diagnostic and treatment segment is estimated to be the fastest growing with a CAGR of 28.4% over the forecast period 2022-2027. This growth is owing to the application elevating of Mhealth platforms in diagnoses of several illnesses and effectively treating them, reducing dependency on obsolete ways of recording data. Presence of contemporary devices such as SIMpill which take down the time logs if medication is taken by patients, reduces overdose issues, and reminds if on any given day patients forget to take the dose.

MHealth Market Segment Analysis - By Geography 

The MHealth based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 37% of the overall market in 2021. The growth in this segment is owing to the factors such as the existence of high awareness among the North American public due to high literacy rates in countries like Canada and US, better networking and technological infrastructure, hue number of smartphone users, affluent GDPs, and presence of big tech players like Apple, Microsoft, Facebook, etc. resulting in jaw-dropping breakthroughs.

However, the Asia-pacific segment is estimated to be the fastest-growing over the forecast period 2022-2027. This growth is owing to shooting up chronic illnesses, the massive population of India and China, densely populated cities such Dhaka, Mumbai and many more Health Market Drivers, growing smartphone usage as the purchasing power of people in countries like Indonesia, India, Vietnam, and China is increasing. For example, in India close to 173 million units were shipped and recorded, which accumulates to YoY growth of 14%.

MHealth Market Drivers

Increasing awareness along with health illnesses are estimated to Drive Market Growth

Health complications such as heart attacks, obesity, and long-term maladies are elevating as the elderly population around the globe is lengthening rapidly. Therefore, people are becoming more health cognizant regarding their nutritional diet and exercise programs and adopting various contemporary techniques and procedures available in the market to handle them. Trends of buying smartwatches and many health applications to monitor steps taken by individuals in a day, calories scorched or consumed are enlarging. For example, within Europe around 22% of the population is geriatric, with a further push from private and government bodies, most of them wear a medical bracelet that alerts for emergencies and other uses.

Shooting up smartphone usage is Expected to Boost Product Demand

According to a study, more than half that is 54-55% of total web traffic is ascribing to mobile phones and around 4-5 billion people around the world use the internet actively. In developing countries like India and China population with smartphones in hand is accruing rapidly. Around 70% of Indians and 73-75% of Chinese people use cell phones. With growing digitalization and technological breakthrough, these statistics are estimated to rise in foreseeable future.

MHealth Market Challenges

Technical faults and data privacy issues are Anticipated to Hamper Market Growth

Even though MHealth trends are growing very swiftly but several factors are anticipated to cripple the progress of these platforms. As MHealth is becoming a new normal in contemporary society, still there are millions of people that are unaware of it. There are other complications such as technical problems and data privacy, network access issues. Still, 30-40% of the world’s population aren’t using the internet which can strangle the growth of the respective market.

MHealth Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. MHealth Market top 10 companies include

  1. Apple
  2. Google
  3. AT&T
  4. Samsung Electronics Co.
  5. Biotelemetry
  6. Airstrip technologies
  7. SoftServe
  8. Qualcomm 
  9. Telefonica S.A.
  10. Allscripts Healthcare Solutions 

Recent Developments/Product Launches: 

  • On October 5, 2021, a Chinese Meditech company Masimo launched a radius T degree continuous thermometer with +/- 0.1-degree Celsius laboratory accurateness and is wearable. It is fully automatic and requires no effort from the user side after installation. The traditional thermometer enables a person to only notice a spike in temperature hours after a spike has occurred, while Radius T° allows to continuously measure temperatures.
  • On May 10, 2021, UK-based healthcare company “my mhealth” launched a diabetes application “myDiabetes” in the southeastern county “Kent” after getting approval from the United kingdom’s healthcare body NHS (=National Health Service). UK health tech company "my health" and collaborators awarded €2.5M, Eurostars Grant. The immersive cardiac rehabilitation app, myHeart uses behavioral feedback and gamification to improve heart health.
  • In April 2020, my COPD, a digital self-management tool for people suffering from chronic obstructive pulmonary disease and also for providing a care management aid for healthcare professionals. It is an app that people can access at home, on their phones, computers, or tablets. Internet access is needed. People using my COPD can give healthcare professionals access to their data, to enable remote care and monitoring. If enabled, clinicians can review the person's profile, including medications and assessment reports.

Relevant Links: 

Machine Health Monitoring Market - Forecast (2021-2026)

Report Code: ECR 0505

Digital Health Market – Forecast (2022 - 2027)

Report Code: HCR 0644
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1. MHealth Market Overview
    1.1 Definitions and Scope
2. MHealth Market - Executive Summary
3. MHealth Market– Market Landscape
    3.1 Company Benchmarking- Key Companies
    3.2 Key Company Financial Analysis
    3.3 Market Share Analysis
    3.4 Patent Analysis
    3.5 Pricing Analysis (Comparison of General Price Offerings in the Market)
4. MHealth Market– Startup Company Scenario (Premium)
    4.1 Investment
    4.2 Revenue
    4.3 Venture Capital and Funding Scenario
5. MHealth Market– Industry Market Entry Scenario Premium (Premium)
    5.1 Regulatory Scenario
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of Successful Ventures
6. MHealth Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    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– By Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle Analysis
8. MHealth Market - By Platform (Market Size –$Million/$Billion) 
    8.1 MHealth applications 
    8.2 Wearable devices 
9. MHealth Market – By Application (Market Size –$Million/$Billion) 
    9.1 Intensive care
    9.2 Edification and alertness
    9.3 Diagnostic and treatment
    9.4 Data assortment
10. MHealth Market –By End User (Market Size –$Million/$Billion) 
    10.1 Patients
    10.2 Government
    10.3 Hospitals
    10.4 Pharmacies
    10.5 Clinicians, etc. 
11. MHealth Market- By Geography (Market Size -$Million/Billion)
    11.1 North America
        11.1.1 U.S
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 Germany
        11.2.2 France
        11.2.3 UK
        11.2.4 Italy
        11.2.5 Spain
        11.2.6 Russia
        11.2.7 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 South Korea
        11.3.4 India
        11.3.5 Australia & New Zealand
        11.3.6 Rest of Asia-Pacific
    11.4 South America
        11.4.1 Brazil
        11.4.2 Argentina
        11.4.3 Chile
        11.4.4 Colombia
        11.4.5 Rest of South America
    11.5 Rest of World
        11.5.1 Middle East
        11.5.2 Africa
12. MHealth Market- Market Entropy
    12.1 New product launches
    12.2 M&A's, collaborations, JVs, and partnerships
13. MHealth Market– Industry Competition Landscape (Premium)
    13.1 Market Share Analysis
        13.1.1 Global Market Share – Key Companies
        13.1.2 Market Share by Region – Key Companies
        13.1.3 Market Share by Countries – Key Companies
    13.2 Competition Matrix
    13.3 Best Practices for Companies
14. MHealth Market– Key Company List by Country Premium (Premium)
15. MHealth Market- Company Analysis
    15.1 Company 1
    15.2 Company 2
    15.3 Company 3
    15.4 Company 4
    15.5 Company 5
    15.6 Company 6
    15.7 Company 7
    15.8 Company 8
    15.9 Company 9
    15.10 Company 10
"*Financials would be provided on a best-efforts basis for private companies"

LIST OF TABLES

LIST OF FIGURES

1.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