mHealth Market Size to Reach USD 361.67 Billion in 2027 | Demand for Preventive Healthcare and Rising Investment to Accelerate Development of mHealth Devices are Some Key Factors Driving Industry Demand, says Emergen Research

VANCOUVER, BC, Aug. 4, 2021 /PRNewswire/ -- The global mHealth market size is expected to reach USD 361.67 billion in 2027 at a CAGR of 32.8% during the forecast period, according to the latest analysis by Emergen Research. Increasing penetration of smartphones and connected devices, rapid digitalization in healthcare sector, and growing awareness regarding home healthcare services to manage chronic diseases are key factors expected to drive market revenue growth over the forecast period. In addition, increasing demand for point-of-care diagnosis and treatment and rising focus on personalized medicine are some other key factors boosting adoption of mHealth devices and contributing to revenue growth of the market.

mHealth or mobile health, as defined by the World Health Organization, refers to the use of mobile and wireless device to help reach health goals and objectives. mHealth has a wide range of applications including collection of patient health data, effectively delivering or sharing of healthcare information, real-time monitoring of vital signs of patients, telemedicine, and training of health workers. mHealth has been extensively used in developed nations, but over the recent past the technology has emerged as an effective means to provide access to healthcare facilities in the developing nations owing to rising penetration of smart phones in low- and middle-income countries. mHealth apps support diagnostic procedures, enable physicians make informed decisions and educate physicians and patients about advanced diseases. Advancements in mHealth can improve access to primary care and scope and quality of healthcare services that are provided.  

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Investment in health startups across the globe and rising trend of telemedicine are some other key factors expected to contribute to the revenue growth of the mHealth market going ahead. In addition, the COVID-19 pandemic has accelerated the development and adoption of mHealth technologies owing to growing need for remote patient monitoring and analysis of patient data and is a major factor contributing to the market growth. However, concerns regarding data security and privacy amid growing incidence of cyberattacks and data breaches are expected to hamper adoption of mHealth applications and further restrain market growth to a certain extent going ahead. 

Some Key Highlights in the Report:

• Mobile apps segment accounted for a significant revenue share of 56.3% in 2019 in the global market and is expected to register considerable revenue growth over the forecast period. Revenue growth can be attributed to increasing use of these apps by both patients and healthcare professionals for consultation and communication, delivery and sharing of health data, and health-related management of patients.
• Remote monitoring segment is expected to register robust revenue CAGR over the forecast period owing to rapid adoption of patient monitoring apps to manage chronic health conditions of patients and increasing demand for remote monitoring systems in home care settings, particularly for elderly patients.
• Asia Pacific market revenue is expected to expand at a robust CAGR of 34.2% during the forecast period owing to increasing demand for mHealth technologies due to large unchecked populations in APAC countries such as China and India, growing geriatric population, rising need for patient monitoring systems, and favorable initiatives by governments to accelerate digitalization across the healthcare sector.
• Key companies in the market include mQure, AT&T, Allscripts Healthcare Solutions, Omron Healthcare Inc., Apple Inc., Samsung Electronics Corporation, Bayer Healthcare, Philips Healthcare, Cardionet Inc., and LifeWatch AG.

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For the purpose of this report, Emergen Research has segmented the global mHealth market on the basis of platform, application, end use, and region:

Platform Outlook (Revenue, USD Billion; 2017-2027)

• Mobile Apps
• Wearable Devices

Application Outlook (Revenue, USD Billion; 2017-2027)

• Education and Awareness
• Disease and Epidemic Outbreak Tracking
• Communication and Training
• Diagnostics and Treatment
• Remote Data Collection
• Remote Monitoring
• Others

End Use Outlook (Revenue, USD Billion; 2017-2027)

• Physicians
• Patients
• Research Centers
• Insurance Companies
• Pharmacies
• Government
• Biopharmaceutical Companies
• Tech Companies
• Others

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Regional Outlook (Revenue, USD Billion; 2017-2027)

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• U.K.
• France
• Italy
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia Pacific
• Latin America
• Brazil
• Rest of LATAM
• Middle East & Africa
• Saudi Arabia
• U.A.E.
• South Africa
• Rest of MEA

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