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mHealth Solutions Market

mHealth Solutions Market - By Service Type, By Participants & Global Region Market Size, Trends, Share & Forecast 2020-2025

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  • Status : Ongoing
  • Published on: April 2021
  • Report ID: KDMI-217
  • Available Format: PDF/Execel/DOC
  • Delivery Time: 24-48 hrs

The term mHealth which comes under the eHealth segment stands for mobile health and refers to the usage of mobile phones for the practice of medicine and public healthcare services. mHealth has a wide variety of applications ranging from usage of mobile phones to educate the consumers about preventive healthcare services, chronic care management, complex population health analysis and communication among medical communities regarding measurement of normal body parameters, like, body weight, temperature, blood pressure and the glucose level of blood.

mHealth technology connects many people together and effectively aids in the efficient management, storage, and assessment of the relevant and associated data. This technology is also viewed as a potential solution for the attainment of healthcare cost-efficiency and is therefore highly desirable by healthcare providers who seek to minimize costs while maximizing their patient outreach across several regions.

The global mHealth solutions market is projected to grow at a massive CAGR of around 20-50% over the period of next 5 years.

MARKET DRIVERS:

The growth of this market is attributed towards major relying factors including; the burgeoning prevalence of chronic and lifestyle-related diseases across the globe, the increasing influence and adoption of smartphones and internet connectivity among people, the growing utilization of connected devices and mHealth apps for the management of chronic diseases, the increasing demand for home healthcare services, the bolstering demand for wearable devices that support applications for tracking health and fitness and the growing adoption of mobile health technologies by patients, physicians, and other healthcare faculties across different regions etc.

Additionally, the healthcare industry in the recent years has been witnessing colossal rise in the advent of new and advanced technologies by the market players aimed at enhancing the experience of the customers and providing them with efficient treatments. Continuous innovations in the market have been in the form of enhanced health-oriented smart devices, m-health devices like wearable fitness trackers which offer various features to its customers, the introduction of m-health apps for monitoring and keeping track of health, the launch of portable healthcare devices integrated with wireless technologies and the digital therapeutic treatments that are being offered through devices such as phone, sensor, apps, and computers etc. These introductions are successfully revolutionizing the healthcare industry and are accordingly aiding in the growth of the mHealth solutions market.

Moreover, strategic developments by key market players coupled with government initiatives across different countries are also proficiently fueling the mHealth solutions industry. Few instances include the collaboration of Phillips with American Telemedicine Association (ATA) in 2020 for increasing the adoption and implementation of telehealth services and the launch of public consultation project by the European commission in Europe to gain input from various participant of digital health industry to promote digital health innovations and care for European citizens.  Thus, these along with several other developments collectively aid in propelling the growth of the mHealth solutions market at a considerable rate.

Furthermore, other factors such as increasing penetration of 3G/4G and 5G networks across various regions, the low physician density creating a platform for the larger approval of mHealth apps in developing countries, rapid deployment of strong connections in rural and urban areas, the surging shift towards outcome-based delivery and patient-centric models, the rising demand for digitized health records and the proliferation in funding for mHealth startups further propel the growth of the mHealth solutions market.

However, factors such as the lack of standards and regulations, limited guidance from physicians in selecting healthcare apps, resistance from traditional healthcare providers, the absence of data security giving the increase to concerns regarding data theft and healthcare fraud, the lack of awareness & access to mHealth solutions in developing countries, the dearth of trained personnel and the associated complications in the installment of these solutions etc. hinder the growth of this market.

MHEALTH SOLUTIONS MARKET SEGMENTATION:

By Products & Services:

  • Connected Medical Devices
    • Vital Signs Monitoring Devices
      • Blood Pressure Monitors
      • Blood Glucose Meters
      • ECG/Heart Rate Monitors
      • Pulse Oximeters
    • Peak Flowmeters
    • Fetal Monitoring Devices
    • Multiparameter Trackers
    • Sleep Apnea Monitors
    • Neurological Monitoring Devices
    • Other Connected Medical Devices
  • mHealth Apps
    • Healthcare Apps
    • General Health & Fitness Apps
    • Health Tracking Apps
    • Obesity & Weight Management Apps
    • Fitness & Nutrition Apps
    • Chronic Care Management Apps
    • Mental Health & Behavioral Disorder Management Apps
    • Diabetes Management Apps
    • Blood Pressure & ECG Monitoring Apps
    • Cancer Management Apps
    • Other Chronic Care Management Apps
    • Medication Management Apps
    • Women’s Health Apps
    • Pregnancy Apps
    • Fertility Apps
    • Breastfeeding Apps
    • Other Women’s Health Apps
    • Personal Health Record Apps
    • Medical Reference Apps
    • Continuing Medical Education Apps
    • Patient Management & Monitoring Apps
    • Communication & Consulting Apps
    • Other Apps
  • mHealth Services
    • Remote Monitoring Services
    • Diagnosis & Consultation Services
    • Treatment Services
    • Healthcare System Strengthening Services
    • Fitness & Wellness Services
    • Prevention Services
    • Other Services

By Service Type:

  • National Health Service
  • Social Health Insurance
  • Private Health Insurance

By Participants:

  • Mobile Operators
  • Device Vendors
  • Content Players
  • Healthcare Providers
  • Others

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

REGIONAL INSIGHT:

The North American region is the largest mHealth solutions market in terms of region which is further anticipated to continue with the trend in the upcoming years as well. The growth in the region can be attributed to factors such as; the increasing penetration and utilization of connected devices & mHealth apps for the management of chronic diseases in the region, the presence of major players in the region, the growing focus towards developing smart manufacturing infrastructure for augmenting the real time use of big data in the region, the rising number of investments in mHealth solutions in the region, the successful application of electronic health records (EHR) and e-prescription systems in the region, the rising awareness among the patients etc. Furthermore, factors such as the surging prevalence of chronic disorders and the rising geriatric and patient population in the region also contribute significantly in the region’s market growth. The U.S is the major contributor to the region.

The Asia Pacific region is the fastest growing regional market for mHealth Solutions which is further expected to witness colossal increase in the growth rate in the years to come on account of factors which include; the rising incidences of chronic conditions in the region, the growing usage of mHealth solutions in the region, the presence of advanced healthcare IT infrastructure in the region, the growing number of investments in digital healthcare sector in the region and the proliferating number of digitalization programs by the governments of in the major economies in the region etc. Furthermore, the growing aging population coupled with the surging emergence and adoption of advanced technologies in the region further contribute to the growth of the mHealth solutions market in the region. The major contributors to the region include India, Japan and China.

FEW KEY PLAYERS IN MHEALTH SOLUTIONS MARKET:

  • Johnson & Johnson Services Inc.
  • AliveCor Inc.
  • Zebra Technologies Corp
  • Orange
  • mQure
  • Qualcomm Technologies Inc.
  • AT&T Intellectual Property
  • OMRON Corporation
  • Medtronic plc
  • Nike Inc.
  • Withings
  • Philips Healthcare
  • Cisco Systems Inc.
  • Agamatrix Inc.
  • Telefonica S.A.
  • SoftServe
  • Google  Inc.
  • Samsung Electronics Co. Ltd.
  • Cerner Corporation
  • Koninklijke Philips N.V.
  • ZTE Corporation
  • Nokia
  • AirStrip Technologies
  • BioTelemetry Inc.
  • Apple Inc.
  • iHealth Labs Inc.
  • athenahealth Inc.
  • Vodafone Group
  • Nokia Corporation
  • Other Players

RECENT DEVELOPMENTS:

  • In January 2021, Wave App, a free mobile application for more than 150 chronic conditions helping patients take greater control of their health during treatment, announced that a systemic review out of Cedars-Sinai Medical Center (CSMC) rated Wave as the #1 highest quality mHealth application to track patient-reported outcomes (PROs) for oncology patients.
  • In February 2021, UMass Memorial Health Care and Boston Medical Center partnered with several mHealth companies to launch connected health projects aimed at helping employees prevent or manage cardiometabolic diseases and for subsequently improving their health and wellness.

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