Global mHealth Solutions Market Assessment, By Product and Service [mHealth Apps, Connected Medical Devices, mHealth Services], By Application [Disease Tracking, Wellness Management, Patient Monitoring, Others], By End-user [Healthcare Provider, Healthcare Payer, Patients, Others], By Region, Opportunities and Forecast, 2017-2031F

Global mHealth solutions market is projected to witness a CAGR of 19.89% during the forecast period 2024-2031, growing from USD 76.71 billion in 2023 to USD 327.43 billion in 2031. The mHealth solutions are an important part of the healthcare IT industry, accounting for one of the fastest growth rates in the healthcare market. The market is being driven by factors such as the increasing prevalence of chronic diseases, growing demand for cost-effective healthcare, and growth in the digitization of healthcare services.

mHealth uses mobile technology to directly and economically address patients' health needs or give technical support to health service providers. In order to prevent, manage, and treat non-communicable diseases (NCDs) and associated risk factors, the World Health Organization (WHO)/International Telecommunication Union (ITU) initiative intends to support governments in using mobile components to supplement their current national health operations. The goal is to work with governments, interact with partners, including the commercial sector, and expand upon current structures rather than develop brand-new, stand-alone programs. As a result, mobile initiatives are more widely adopted and viable over time. Healthcare expenses are on the rise in every country globally, irrespective of GDP. Many healthcare expenses can be avoided if diseases are identified and treated early on with an emphasis on prevention and health promotion. Mobile health provides a means of reducing healthcare expenditures by utilizing affordable, readily available technology and enabling individuals to take an early, active role in their own wellness. When mHealth is implemented nationwide, a solid foundation of knowledge and expertise will be available, which will encourage more research and developments in the health domain, thus driving the global mHealth solutions market.

In January 2024, the Advanced Research Projects Agency started a mobile health initiative to develop a modern mobile health solution that can bridge the care gap for rural areas. The Platform Accelerating Rural Access to Distributed and InteGrated Medical care, or PARADIGM, is the name of the ARPA-H initiative. Its goal is to create "a multi-functional, rugged electric vehicle platform" that uses medical devices to perform tests and screenings for those living in rural regions. Additionally, the initiative will work to develop software that would enable devices to be remotely connected to electronic health record systems from within automobiles.

Increasing Prevalence of Chronic Diseases Drives Market Growth

The rise in long-term health problems, like diabetes and heart issues, puts a lot of pressure on hospitals and their inpatient units. This burden makes people want mobile health (mHealth) options that can help them better handle the ongoing health conditions. mHealth technologies, such as phone apps and medical devices, let patients keep an eye on their health from home, take care of themselves, and talk to their doctors on a regular basis. As per a report from the British Heart Foundation, around 200 million people have coronary artery disease (CAD) globally, out of which, 57.89% were male patients and 42.11% were female patients. As per International Diabetes Federation’s report 2023, more than 537 million adults are living with diabetes globally.

Growth in Digitization of Healthcare Promotes Market Growth

The healthcare sector's shift towards digitization is creating more demand for mobile health (mHealth) solutions. This includes software, apps, and services. Advanced mobile health technologies, the need for improved care, and a push for efficiency have sparked this trend. mHealth tech, like smartphone apps and wearables, lets patients check their health from home, care for themselves, and talk to doctors more frequently. This trend towards mHealth can take a lot of pressure off of hospitals and inpatient units. It allows them to focus on complicated or emergency cases while boosting patient results and reducing costs. As healthcare keeps going digital, there will be a greater need for new mHealth based solutions. AI and machine learning features on these mobile platforms coupled with data analysis will give personalized and focused care towards patients.

mHealth Apps Dominate the Global mHealth Solutions Market

Mobile health, or mHealth, has quickly become the new standard in the healthcare sector. Rapid technology development in the field of mobile health has opened up several avenues for remote care delivery and advanced care. Throughout the projection period, the category is anticipated to grow at the fastest rate as well. The huge market valuation of this segment is primarily due to the expanding use of smartphones and the Internet, as well as the growing number of patients and medical professionals using mobile health applications. Growth is also being fueled by the increasing awareness of mobile health applications for uses, including personal health record management, illness tracking, fitness andand wellness, remote patient monitoring, and women's health, among others.

For instance, in February 2024, Kakao Healthcare Corporation launched its most recent AI-powered smartphone diabetes treatment software called PASTA, which stands for Personalised, Accessible, Supportive, Tech-enabled, and Affordable. The software connects to two CGM devices: the G7 from Dexcom and the CareSens Air from local company i-SENS. By the second quarter of 2024, the app will also be compatible with the Mallya smart cap for insulin pens.

North America Dominates the mHealth Solutions Market

In 2023, North America holds the highest revenue share in the global mHealth market. mHealth apps, which leverage mobile technology to deliver healthcare services, are rapidly gaining traction in the United States, Canada and Mexico. In North America, mHealth technology and solutions are anticipated to be driven by factors such as the aging population, prevalence of chronic ailments, rapid rise in smartphone use, and partnerships between IT and healthcare companies. According to a recent survey by Emarketer Inc., around two-thirds (63.4%) of the United States population has used an app for a health-related cause in the past year. In both polls, consumers most frequently downloaded health applications for fitness or exercise. The second most popular apps in each poll were those related to general wellbeing, which covers sleep, diet, and weight reduction.

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Future Market Scenario (2024-2031F)

• Chatbots and virtual assistants: Chatbots and virtual assistants driven by AI will provide round-the-clock health information, prescription reminders, and basic symptom assessments, encouraging self-care and reducing the load of healthcare.
• Non-invasive and continuous monitoring: More health data, such as blood sugar levels, brain activity, and stress signs, will be continually tracked by sophisticated wearables and implanted sensors.
• Biometric authentication and security: Access to medical information and online consultations will be more secure with the use of biometric data, such as fingerprint or iris scans.
• Integration with home medical equipment: Telehealth systems are designed to be easily integrated with home medical equipment, such as weight scales and blood pressure monitors, to enable remote medication changes and monitoring patient’s health.  

Report Scope

“mHealth Solutions Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global mHealth solutions market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 19.89% between 2024 and 2031
Revenue Forecast in 2031	USD 327.43 billion
Segments Covered	Product and Service, Application, End-user
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	Koninklijke Philips N.V, Medtronic Plc, Johnson and JohnsonServices Inc., Apple Inc., AliveCor Inc., Cisco Systems Inc., Qualcomm Technologies Inc., Omron Healthcare Co. Ltd., iHealth Lab Inc., AirStrip Technologies Inc.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, global mHealth solutions market has been segmented into the following categories: 

·         By Product and Service

o   mHealth Apps

§  Chronic Disease Management Apps

·         Diabetes Management

·         Blood Pressure and ECG Monitoring

·         Cancer Management

·         Mental Health Management

·         Others

§  General Health and Fitness Apps

§  Medication Management

§  Women’s Health Apps

§  Others

o   Connected Medical Devices

§  Vital Signs Monitoring Devices

§  Sleep Monitoring Devices

§  Neurological Monitoring Devices

§  Sleep Apnea Monitoring Devices

§  Others

o   mHealth Services

§  Remote Monitoring Services

§  Diagnosis and Consultation Services

§  Treatment Services

§  Fitness and Wellness Services

§  Others

·         By Application

o   Disease Tracking

o   Wellness Management

o   Patient Monitoring

o   Others

·         By End-user

o   Healthcare Providers

o   Healthcare Payers

o   Patients

o   Others

·         By Region

o   North America

o   Europe

o   Asia Pacific

o   South America

o   Middle East and Africa

Key Players Landscape and Outlook

Several medical device companies and IT companies like Koninklijke Philips N.V, Medtronic Plc, Johnson & Johnson Services Inc., Apple Inc., AliveCor Inc., Cisco Systems Inc., Qualcomm Technologies Inc., Omron Healthcare Co. Ltd., iHealth Lab Inc., AirStrip Technologies Inc. are flourishing in the mHealth solutions market by planning and adopting new strategies. They are complying with new strategic initiatives for antimicrobial susceptibility testing devices to increase their market presence. New agreements, contracts, acquisitions, mergers, investments, and partnerships are major ways through which they are trying to achieve higher market share.

In June 2024, a leading Asia-Pacific telehealth provider, Mobile-health Network Solutions Pte Ltd, announced its partnership with leading mobility and fast commerce platform Ryde Group Ltd. to address the challenges that Ryde's driver-partners and their families face in getting access to high-quality healthcare.

Key Players Operating in Global mHealth Solutions Market are:

·         Koninklijke Philips N.V

·         Medtronic Plc

·         Johnson & Johnson Services Inc.

·         Apple Inc.

·         AliveCor Inc.

·         Cisco Systems Inc.

·         Qualcomm Technologies Inc.

·         Omron Healthcare Co. Ltd.

·         iHealth Lab Inc.

·         AitStrip Technologies Inc.

Markets and Data’s reports answer the following questions:

·         What is the current and future market size of the product/service in question globally or specific to different countries?

·         How are the markets divided into different product/service segments and the market size and growth of each segment?

·         What is the market potential of different product segments and their investment case?

·         How are the markets predicted to develop in the future and what factors will drive or inhibit growth?

·         What is the business environment and regulatory landscape specific to the product/service?

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