The Global “mHealth Market Size” is likely to expand at an impressive CAGR, finds Fortune Business Insights in a report, titled “mHealth Market: Global Market Analysis, Insights and Forecast, 2018-2025.” Growth witnessed in the market backed by increasing adoption of wearable devices for health monitoring. In addition to this, increased availability of mobile apps manufactured by leading companies will enable fuel the demand for mHealth solutions in the forecast period.
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The increase in the number of mobile phone users, worldwide, is favoring the growth of the global market. mHealth applications enable access to health information with the option of avoiding hospital visits. Furthermore, ease in availability of network providers is one of the factors favoring the global mHealth market. The rising uptake of mHealth services among the elderly population is a major factor driving the global market.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market:
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Some of the Main Key Players Covered in the mHealth Market Report
- Bayer Pharmaceuticals
- AliveCor, Inc.
- BioTelemetry Inc.
- LifeWatch Services, Inc.
- Omron Healthcare, Inc.
- Qualcomm Technologies
- Cerner Corporation
Increasing Adoption of Smartphone Services among Global Population to Enable Growth
The adoption of a fast-paced lifestyle among people around the world has fuelled the demand for convenient yet high-performing mobile applications. The advent of cloud-based services within mobile apps is favoring the expansion of the Global mHealth Market. Cloud-based services fulfill the need for excess storage that is required when availing mHealth solutions. According to Statista, in 2016, around 2.1 billion people around the world owned smartphones.
This number accounts for around 36% of the global population, and it is forecasted to grow even more by 2019. Thus, an increasing end-user availability may lead to a subsequent increase in demand for mHealth applications and services in the forthcoming years.
The demand for easy access to health information among the geriatric population is a key factor impelling innovations in mHealth services. Among various benefits of mHealth services, some noteworthy benefits are real-time monitoring, automated alerts, and treatment and wellness based on recorded data. mHealth devices possess advantages such as low cost, minimum maintenance, and reduced time frames. The factors above are resulting in the higher uptake of mHealth services over other services among end-users, globally.
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Key Segmentation of mHealth Market:
mHealth Market Segments by Product Type
- Patient Monitoring Products
- Diagnostics Products
- Nutrition and Fitness Support
- Mental Health Support
mHealth Market Segments by Modality
mHealth Market Segments by End User
- Ambulatory Surgery Centers
- Home Care Settings
mHealth Market Segments by Geography
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Favorable Government Policies to Boost the Global mHealth Market
Increasing government initiatives targeted towards spreading health awareness are boosting the global mHealth market. Moreover, rising government initiatives that are promoting the use of mHealth apps are aiding the expansion of the global market. Organizations such as the National Health Service (NHS) have imposed stringent rules and regulations towards the safety and testing of mHealth apps and services.
Therefore, users can be sure of the efficiency of these apps as they have already been tested and verified clinically. This, in turn, has led to increased reliability and subsequently, more end-users are preferring apps that have been verified, clinically by organizations such as the NHS.
Incorporation of mHealth services in Blood Pressure Monitoring Devices to Enable Growth
Blood pressure monitoring is an integral part of detecting diseases at an early stage. Blood pressure monitoring helps in detecting cardiac arrests and heart failures at an early stage and reduces the chances of heart attacks and other fatal disorders. The advent of wearable blood pressure monitoring devices with in-built mHealth applications is leading to increased adoption of these devices among people, globally. This, in turn, has led to an increase in growth of the global mHealth market and is expected to boost the market in the forecast period as well.
Frequently Ask Question :
Key Questions Answered of mHealth Market:
What will the market growth rate of mHealth Market in 2026?
What are the key factors driving the Global mHealth Market?
What are sales, revenue, and price analysis of top manufacturers of mHealth Market?
Who are the distributors, traders and dealers of mHealth Market?
Who are the key vendors in mHealth space?
What are the mHealth Market opportunities and threats faced by the vendors in the mHealth Market?
What are sales, revenue, and price analysis by types, application and regions of mHealth Market?
What are the market opportunities, market risk and market overview of the mHealth Market?
Secondary Data Sources That We Refer To:
- Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
- Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.
- Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
- Industry journals and paid databases
Secondary Research Is Conducted To Derive The Following Information:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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