With the increased usage of smartphones, tablets, and other mobile devices, the market for mHealth solutions offers enormous potential. Applications for mobile health are numerous and span from complex population health analyses to managing chronic care. The global market for m-health solutions is estimated to expand at a CAGR of 27% from 2022 to 2030.
| mHealth Solutions Market Size (2022) | US$ 101.12 Bn |
| Projected Market Value (2030) | US$ 685.99 Bn |
| Forecasted Growth Rate (2022-2030) | 27% CAGR |
| Market Share of Hospitals (2022) | 37.1% |
Over the next few years, demand for mobile health solutions is anticipated to increase as technology becomes more widely used in the healthcare industry. mHealth solutions currently hold a 20% market share in the global market for healthcare IT solutions.
Additionally, there is a rising demand for mHealth due to the shift toward outcome-based delivery and a patient-centric paradigm in the healthcare industry. Major corporations are producing better health-focused smart devices as a result of rising health awareness among consumers, which is driving the industry. The increasing use of mobile devices and fitness trackers is evidence of this. It is anticipated that many healthcare solution suppliers will soon follow suit in order to take advantage of this potential revenue opportunity. This is expected to pave the way for consumer application development services in the healthcare sector.
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Key Takeaways: M-Health Solution Market
- Patient segment among the end user is estimated to register a CAGR of 32.5% during the forecast period as the adoption of m-health apps is increasing among patients for keeping track of their health and as preventive measure
- Disease tracking segment to dominate in 2020 with a market share of 31.7% followed by patient monitoring
- Growing trend among young age population to maintain healthy lifestyle through various diet and exercise routines is increasing demand for fitness apps. The fitness apps segment is estimated to grow by 28% Y-o-Y from 2019 to 2020
- Among regions, South Asia & Pacific m-health solution is estimated to register high CAGR, owing to the increasing investments by government in digitalization of the healthcare industry
“The growing demand for new types of wearable devices and application for tracking health & fitness and partnership among key players for offering innovative m-health services to enhance the user experience. Also, with continuous innovation in the technological aspects, m-health devices like wearable fitness trackers are offering various features for its customers and introduction of m-health apps for monitoring and keeping track of health is driving the market growth during the forecast period.,” says FMI Analyst.
COVID-19 Impact Analysis on M-Health Solution Market
The COVID-19 epidemic has affected every industry, and because of societal distance standards, businesses are converting to digitalization to safeguard their security. The use of digital health technologies has grown as a result of the pandemic to aid in improved strategic planning, communication between health professionals and the public, and disease awareness. As m-health solutions are used to identify the COVID-19 symptoms through remote patient monitoring platforms, demand for these solutions is rising.
Because these devices provide reliable input on a person’s blood pressure, body temperature, and oxygen level, they are helping patients regain their sense of control and reducing their fear of infection. However, it is anticipated that the market for m-health solutions would expand by 1.3X in 2020 and 2021 as well.
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Demand for Cloud-based Solutions and Services
Cloud-based services are an attractive means of deploying IT solutions, as they reduce IT infrastructure costs while accelerating the speed of operations for healthcare organizations. This is, in turn, expected to drive the demand for cloud-based mhealth solutions. Cloud based solutions offer increased flexibility, storage and automation. Moreover, using cloud storage, clinical images can be accessed by multiple doctors from any location. Furthermore, mhealth solutions and service providers are increasingly investing in research and development activities to cater to the growing demand for consumer-centric and cloud-based solutions. Increasing competition is influencing companies to introduce innovative cloud-based offerings and upgrade their existing product portfolio to enhance their presence in the market.
Key Segments of Mhealth Solutions Industry Survey
mHealth Solutions Market by Product and Service:
- M-Health Devices
- mHealth Apps
- mHealth Services
mHealth Solutions Market by Application:
- mHealth Solutions for Disease Tracking
- mHealth Solutions for Wellness Management
- mHealth Solutions for Patient Monitoring
mHealth Solutions Market by End User:
- mHealth Solutions for Physicians
- mHealth Solutions for Patients
- mHealth Solutions for Hospitals
- mHealth Solutions for Healthcare Insurance Vendors
mHealth Solutions Market by Region:
- North America mHealth Solutions Market
- Latin America mHealth Solutions Market
- Europe mHealth Solutions Market
- East Asia mHealth Solutions Market
- South Asia & Pacific mHealth Solutions Market
- Middle East & Africa (MEA) mHealth Solutions Market
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About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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