Global mHealth Market is valued at approximately USD 83.17 billion in 2023 and is anticipated to grow at a healthy compound annual growth rate (CAGR) of 13.1% during the forecast period from 2024 to 2032. The term mHealth refers to the utilization of mobile devices, such as smartphones, tablets, and other wireless technologies, in supporting the delivery of public health and medical services. This rapidly growing field within digital health enables a wide range of functions, including patient education, diagnostic and treatment support, and remote patient monitoring. The increasing demand for home-based patient care, particularly among the aging population, is one of the prominent factors fueling the market growth. Additionally, the use of mHealth solutions for chronic disease management and remote healthcare supply chain management contributes to the sector's rapid expansion.
The rise in the number of players entering the mHealth market is intensifying competition, pushing leading companies to offer innovative solutions. This, coupled with rapid technological advancements, further supports the growing adoption of mHealth solutions. For instance, the U.S. FDA's introduction of CURE ID, a cloud-based platform, allows healthcare professionals to share their experiences treating rare infectious diseases using FDA-approved drugs via smartphones or other mobile devices. Such technological progress underlines the significance of mHealth in enhancing healthcare service delivery and efficiency. Moreover, the growing focus on innovative app and wearable development as well as increasing government support for digital health initiatives present various lucrative opportunities over the forecast years. However, the data privacy and security concerns, as well as regulatory challenges in certain regions are challenging the market growth throughout the forecast period of 2024-2032.
Key regional markets include North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America held the largest share of the mHealth market in 2023, due to the increasing prevalence of chronic diseases, rising smartphone penetration, and growing demand for wearable health devices. Meanwhile, Europe is set to witness the fastest growth, driven by the expanding number of startups focusing on developing mobile health applications and wearables.
Major market players included in this report are:
Koninklijke Philips N.V.
Cerner Corporation
Allscripts Healthcare Solutions, Inc.
Medtronic PLC
Apple Inc.
Qualcomm Incorporated
Samsung Electronics Co., Ltd.
AT&T Inc.
General Electric Company
International Business Machines Corporation
Epic Systems Corporation
McKesson Corporation
Johnson & Johnson
Alphabet Inc.
Fitbit Inc.
The detailed segments and sub-segments of the market are explained below:
By Category:
Mobile Applications
Wearables
By Service Type:
Monitoring Services
Fitness and Wellness Solutions
Diagnostic Services
Treatment Services
Other Services
By Service Provider:
mHealth App Companies
Pharmaceutical Companies
Hospitals
Health Insurance Providers
Others
By Region:
North America:
U.S.
Canada
Europe:
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific:
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America:
Brazil
Mexico
Rest of Latin America
Middle East & Africa:
Saudi Arabia
South Africa
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market estimates & forecasts for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of the competitive structure of the market.
Demand-side and supply-side analysis of the market.