mHealth Market

Market Overview

The global mHealth market size was valued at USD 63.01 billion in 2022. It is estimated to reach USD 266.90 billion by 2031, growing at a CAGR of 17.4% during the forecast period (2023–2031). Technological advancements in smartphone technology for improving disease diagnostics are also anticipated to drive the mHealth market growth. Furthermore, major deals and strategic alliances in the market are creating opportunities for market growth. There were 56 mergers and acquisitions in the mobile health sector in 2018, according to MobiHealthNews.

mHealth is the abbreviation for mobile health, which is the practice of medicine and public health using mobile devices. The phrase is most frequently used regarding leveraging wearable technology, such as smartwatches and mobile communication devices like tablet computers, personal digital assistants (PDAs), and mobile phones, for health services, information, and data collection. mHealth apps are made to support diagnostic procedures, help doctors make treatment decisions, and promote disease-related education for medical professionals and patients.

Market Dynamics

mHealth Market Drivers

High Penetration of Smartphones

The penetration of smartphones is rising significantly. As per the Mobile Economy 2019, smartphone penetration was 60% in 2018 and is expected to reach 79% by 2025. The surging adoption of smartphones by consumers is driving the various mHealth applications in the mHealth market. In addition, the constant enhancement of network infrastructure and expanding network coverage are increasing the demand for mHealth services.

Information and communication technology (ICT), like mobile phones, computers, communications satellites, patient monitors, etc., for health services and information has given rise to the mHealth area as a sub-segment of eHealth. Applications for mHealth include the direct delivery of care (through mobile telemedicine), real-time monitoring of patient vital signs, the exchange of healthcare information for practitioners, researchers, and patients, and the training and collaboration of health workers.

For instance, as per data published in 2019, various smartphone sensors are developed for monitoring health issues such as cardiovascular activity, skin health, eye health, sleep, ear health, respiratory and lung health, cognitive function, daily activity, mental health, etc.

Favorable Government Initiatives

Government initiatives, such as awareness programs and R&D funding for healthcare IT, are anticipated to boost the mHealth market growth. Recently, the Indian government launched four new mHealth initiatives, namely Kilkari, M-Cessation, Mobile Academy, and TB Missed Call Initiative, as a part of its Digital India program. These initiatives are aimed at enhancing access to medical care. For instance, in 2020, Philips announced a collaboration with the American Telemedicine Association (ATA) to increase the adoption and implementation of telehealth services. The applications and platforms designed by the company are beneficial across different healthcare conditions.

In addition, the number of government initiatives in various countries is rising as mHealth aids in reducing healthcare expenditure. Moreover, the increasing trend of preventive healthcare, the growing geriatric population, and the rising disease burden have increased the focus of policymakers on mHealth.

mHealth Market Restraint

Data Security Concerns Related To mHealth Technologies

Data privacy and security concerns are constraining the adoption of mHealth technologies. Healthcare providers use mobile devices to store, process, and transmit patient-related data. However, the security of mobile devices is a top concern these organizations face. The risk of accessing connected devices or media is rising significantly as anyone in direct contact with connected technologies can install malicious programs, change configurations, access sensitive information, or change information. Therefore, patients can hide some information due to a lack of confidence in the security system, which may further hamper the efficiency of the overall treatment.

Furthermore, as per a 2019 report published by Fortified Health Security, the number of breaches concerning healthcare reported by the Office for Civil Rights (OCR) increased by 16% in the first ten months of 2019 compared to 2018. Similarly, in 2017, Royal Free Hospital in London breached the UK data law by transferring the personal data of over 1.6 million patients to the artificial intelligence company, DeepMind, a Google subsidiary. Such factors hamper the market's growth.

mHealth Market Opportunities

Supportive Initiatives and Increasing Strategic Alliances

Technological advancements and a growing focus on mHealth technologies have led to increased funding for digital health. Physicians with a background in company operations or investments invest in digital health startups. This is expected to impact the market positively. As per an American Well survey conducted in 2019, around two-thirds of the respondents reported being interested in telehealth. In addition, willingness to utilize telehealth was highest (around 74%) among the respondents aged between 18 and 34 years. This rising interest in telehealth will likely support the penetration and adoption of mHealth solutions in the coming years.

Examples of recent mergers and acquisitions include Roche's purchase of Flatiron Health, Platinum Equity's acquisition of Johnson & Johnson's Chesterbrook, and Best Buy's purchase of GreatCall.

Regional Analysis

Based on region, the global mHealth market share is bifurcated into North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.

North America Dominates the Global Market

North America is the most significant global mHealth market shareholder and is estimated to exhibit a CAGR of 15.8% over the forecast period. Factors such as the rapid use of smartphones, advancements in coverage networks, growth in the prevalence of chronic illnesses, and a surge in the geriatric population are expected to drive mHealth services in North America. According to the UN's World Population Ageing Report 2019, one in four individuals in North America and Europe could be 65 years of age or older by 2050. It also has the second-largest aging population in the world, after Europe. One of the primary factors contributing to the expansion of this market is the high adoption of mHealth. For instance, the CDC reports that about 86.9% of office-based physicians use at least one type of EMR/EHR system.

Additionally, the market has recently benefited from increased mergers, acquisitions, and product launches. For instance, in July 2020, Allscripts announced its collaboration with Microsoft to develop cloud-based IT solutions. This is expected to help the company enhance its healthcare technologies for better patient engagement. Most key players also invest more in North America's market by launching innovative and novel services and products.

Europe is predicted to exhibit a CAGR of 17.8% over the forecast period. E-mobile health apps and services are being launched in Europe, focusing mainly on monitoring patients with chronic diseases and aiding independent aging solutions. Europe has the world's greatest aging population. According to an EU article published in 2020, Europe's total percentage of people aged 65 and above was around 20.3% in 2019. The demand for mHealth in chronic care management, diagnostic tools, and post-acute care management is predicted to increase as the population ages. The popularity of smartphones is another factor influencing the expansion of numerous health- and wellness-related mobile apps.

Additionally, the UK, Germany, Norway, Greece, and Spain have contributed significantly to market growth and are some of the prominent markets in the region. For instance, Orange has launched diabetes-monitoring services in Spain that allow remote monitoring of patients' blood glucose levels. The European Union is working to develop the mobile health industry across the continent, driving market growth.

Asia-Pacific is one of the largest revenue-generating regions in the global mHealth market. It is expected to grow significantly during the forecast period, owing to the growing penetration of smartphones and smart wearables and the increasing adoption of mHealth services. According to the GSMA's Mobile Economy 2020 report, there were 2.8 billion unique mobile subscribers in the region as of the end of 2019, with projections of 3 billion by 2025. It is forecasted that by 2025, the penetration rate of mobile internet users in the Asia-Pacific will account for 2.7 billion, compared to 2 billion in 2019. In addition, the use of smartphones to access various mHealth applications is growing as they become more widely available and affordable. Government agencies are working to boost mHealth technology by improving the 3G and 4G network infrastructure, developing eHealth and telehealth roadmaps, and creating regional investment-friendly policies.

In Latin America, the rising incidence of chronic disorders will likely drive the adoption of mobile monitoring services. The Population Reference Bureau estimated that four major noncommunicable diseases—cancer, cardiovascular disease, diabetes, and chronic respiratory disease—would account for 81% of total deaths in Latin America and the Caribbean by 2030. In addition, the rising popularity of mobile apps in Latin America is expected to drive the demand for mHealth services in the region. Favorable government initiatives, such as collaborations with various research facilities, are anticipated to boost the mHealth market growth.

mHealth services in Africa help collect and transmit data on prevailing diseases and patients to healthcare providers. Digital services are deployed to increase technical awareness and aid in preventing infectious diseases in African countries, such as South Africa and Kenya. There are a large number of awareness or prevention programs related to HIV/AIDS being initiated in various African countries. Changing lifestyles, rising incidence of diabetes and obesity, and high penetration of smartphones are also driving the market in the Middle East and Africa region.

Segmental Analysis

The global mHealth market is bifurcated into components, services, and participants.

Based on components, the global market is segmented into wearables and mHealth apps. 

The mHealth apps segment is the highest contributor to the market and is projected to exhibit a CAGR of 17.5% over the forecast period. The shift from traditional healthcare delivery models to patient-centric care and more customized models is propelling the market's growth. The adoption of mHealth platforms has been gaining traction in recent years. This adoption will help increase the number of physicians recommending health- and fitness-related apps. Moreover, the rising penetration of smartphones is supporting segment growth. Growing awareness of mobile health apps for remote patient monitoring, personal health record management, patient tracking, medication management, fitness and wellness, women's health, disease management, etc., is also expected to fuel the highest CAGR over the forecast period.

Rising consumer interest in health and the prevalence of chronic illnesses such as cardiovascular and diabetes illness drive the market for wearables. Integration with mobile phones, extended battery life, and wireless connectivity are among the most desired features in wearable devices. In addition, rapid design advancements for these wearables are anticipated to increase their demand. Synchronization with the cloud, predictive analytics, and gamification are among the most significant advancements in mHealth and wearable technology. Companies are constantly investing in technological innovations, increasing wearable technology applications in healthcare, and contributing to market growth.

Based on services, the global market is segmented into monitoring services, diagnosis services, healthcare system strengthening services, and other services. 

The monitoring services segment owns the highest market share and is anticipated to exhibit a CAGR of 16.5% over the forecast period. Monitoring services primarily involve the observation of diseases, health conditions, or other critical medical parameters for a defined period of time. These services dominate the market due to various factors, such as increased chronic diseases, including obesity, diabetes, coronary artery disease, congestive heart failure, and cancer. In addition, many companies and healthcare institutions are launching mHealth programs for remote patient monitoring, increasing the adoption of mHealth for monitoring services. For instance, in 2019, Wisconsin's Marshfield Clinic Health System will use mHealth devices to remotely monitor patients with congestive heart failure.

The prevalence of age-related illnesses like diabetes, cancer, and cardiovascular disease has all increased alongside the senior population. The increasing prevalence of disabilities is the main cause of loss of healthy life years, which has increased the demand for mHealth services to support care for the elderly. In addition, increasing use and growing penetration of mobile phones with access to remote areas can enable the growth of remote monitoring services for an aging population. mHealth services offer benefits such as independent chronic care management, cost-effectiveness, and improved health outcomes in the elderly population.

Based on participants, the global market is bifurcated into mobile operators, device vendors, content players, and healthcare providers. 

The mobile operator segment dominates the global market and is predicted to exhibit a CAGR of 16.4% during the forecast period. The mobile operators' segment is expanding owing to improvements in network infrastructure, a rise in the use of 3G and 4G technologies, and an increase in mobile subscribers. In addition, mobile operators are promoting mHealth solutions by supporting services such as patient management, monitoring, and diagnosis. Mobile operators are implementing collaborations, agreements, and partnerships to enhance their mHealth offerings, contributing to market growth.

In healthcare facilities, the adoption and knowledge of digital technology have increased along with rising healthcare costs. These technologies are beneficial in effectively bridging the gap between patients and doctors, which is anticipated to drive the adoption of mHealth services among healthcare providers, especially those practicing in remote areas. mHealth services provide various benefits, including diagnostics, remote monitoring, medical reference, alerts, scheduling reminders, medical management and documentation, and eLearning.

Recent Developments

• April 2023: Oraichain, a prominent provider of AI-powered oracles and blockchain ecosystems, announced the launch of BlockAI.Care, an innovative mobile healthcare platform, is in its ecosystem. The comprehensive application incorporates multiple AI-powered models to provide an all-inclusive health monitoring platform.
• April 2023: DocGo, a prominent provider of last-mile mobile health services, announced that it had signed a preferred provider agreement with Fresenius Medical Care (FMC), the largest provider of renal dialysis treatment in the United States. This preferred provider agreement includes services for remote patient monitoring, primary care management, chronic care management, and emergent care.