mHealth Services Market to Expand at CAGR of 17.2% During Forecast Period, TMR Study

ALBANY, N.Y., March 2, 2022 /PRNewswire/ -- Analysts at TMR estimate the mHealth services market to reach valuation of US$ 281 Bn by 2028. Expanding applications of mHealth services from its earlier use comprising only monitoring services creates ample opportunities in mHealth services market. mHealth services are now available for diagnostics, medical treatment, preventive services, healthcare surveillance and medical assistance services, and emergency response services, among others.

High prevalence of chronic diseases that requires long-term medication and continuous monitoring can be easily carried out using solutions and services of the mHealth technology. The mHealth technology also helps to lower costs associated with regular monitoring and interventions required for patients of chronic diseases.

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North America stood as the leading region in the mHealth market in the recent past. Early adoption of technology for healthcare underpinned by robust mobile communication networks fuels the growth of mHealth services market in the region.

mHealth Services Market – Key Findings of Report

• Rapid adoption of technology by the large geriatric population in Western countries who are independent of the long-term medication and continuous monitoring of chronic health conditions spurs the growth of mHealth services market
• Demand for mHealth services from individual end users for an array of services, including general healthcare and fitness, collaboration and consultancy, remote monitoring, healthcare management, and health data and record access mainly for assistance with chronic diseases propels the mHealth services market
• Lack of adequate healthcare infrastructure in some developing countries is leading to increasing adoption of remote monitoring services for patients with chronic diseases

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• Joint efforts of an array of bodies to render mHealth services, which include smartphone manufacturers, device manufacturers, application developers, healthcare service providers, and network service providers, among others, along with the active role of regulatory bodies to enforce adherence to regulatory requirements strengthens growth of mHealth services market
• Healthcare system strengthening service segment led the mHealth services market in 2020 due to the high demand for emergency response services
• Asia Pacific is anticipated to display fastest growth in the mHealth services market over the forecast period. This is due to the rapidly developing healthcare infrastructure that supports remote patient care, and increasing acceptance of technology-driven healthcare by large populations living in rural areas of developing countries of the region.
• Role of key players to consistently expand the portfolio of mHealth applications and obtain regulatory approvals for the same is favorable for the growth of mHealth services market. Keen players also engage in M&As and collaborations to consolidate their position in the mHealth services market.

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mHealth Services Market – Growth Drivers

• Advantages of long-term medication and continuous monitoring using mHealth technology services and solutions at reduced cost for patients of chronic diseases fuel the growth of mHealth services market
• Substantial rise in the number of applications of mHealth services for diagnostics, emergency response, and medical treatment, among others, creates ample opportunities in the mHealth services market

mHealth Services Market – Key Players

Some of the key players operating in the mHealth services market are;

• AT&T Inc.
• Airstrip Technologies Inc.
• Cerner Corporation
• Diversinet Corp.
• SoftServe Inc.
• Vodafone Group plc
• Apple Inc.
• Alcatel-Lucent
• Qualcomm Inc.
• Koninklijke Philips N.V.
• Symantec Corporation

The mHealth services market is segmented as follows;

mHealth Services Market, by Service

• Solutions for Patients Wellness
• Prevention Service
• Monitoring Service
• Diagnostic Service
• Treatment Service
• Information & Reference
• Healthcare System Strengthening
• Emergency Response
• Health Care Practitioner Support
• Healthcare Surveillance

mHealth Services Market, by Application

• General Healthcare and Fitness
• Medication Information
• Remote Monitoring, Collaboration, and Consultancy
• Healthcare Management
• Health Data & Record Access

mHealth Services Market, by End-user

• Public/Private Healthcare Institutions
• Physicians
• Healthcare Workers
• Individuals

mHealth Services Market, by Region

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• Australia
• India
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• South Africa
• GCC Countries
• Rest of Middle East & Africa

Modernization of healthcare in terms of both infrastructure and services have pushed the healthcare industry to new heights, Stay Updated with Latest Healthcare Industry Research Reports by Transparency Market Research:

mHealth Apps Market: The advancement in mobile technology has increased manifold since past few years. This expansion in mobile traffic is seen because of advances in 3G and 4G chains that has empowered the usage of cell phones and tablets in the field of entertainment, commerce, medicinal services and others. Incorporation of versatile innovation into human services administrations has enabled shoppers to deal with their everyday exercises successfully.

mHealth Applications Market: mHealth applications are designed to improve the quality of healthcare systems by using digital technologies and telecommunications. mHealth applications are primarily used to maintain health records, and ensure coordinated activities among nurses, physicians, healthcare payers, clinicians, ambulatory care centers etc.

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