The global mHealth market was valued at US$ 54.25 billion in 2021 and is expected to reach over US$ 243.57 billion by 2030 with a registered CAGR of 18.2% during the forecast period 2022 to 2030.
Key Takeaway:
Growth Factors
The global mHealth market is driven by the rising adoption of the smartphones and improved access to the internet. According to the GSMA State of Mobile Internet Connectivity Report 2020, approximately 50% of the global population had access to the mobile internet connectivity by the end of 2019. An increase of 250 million mobile internet users was recorded from 2018 to 2019. The rising awareness regarding the internet and increasing affordability of smartphones is significantly fueling the growth of the mHealth market. Furthermore, the growing investments in the development of the telecommunications and IT infrastructure across the globe are positively impacting the mHealth market growth. According to ITU, around 4 billion people were using internet by the end of 2019. Majority of the internet users have access to the internet using smartphones. Therefore, the demand for the mHealth is directly proportional to the number of the smartphone users. Moreover, the rising awareness regarding the availability of the mHealth apps on the app store is expected to propel the growth of the market during the forecast period.
The rising prevalence of various chronic diseases among the global population and growing geriatric population are the key factors that are anticipated to drive the global mHealth market during the forecast period. According to the United Nation the global geriatric population is estimated to reach at around 2 billion by 2050. The conveniences and benefits associated with the adoption of the mHealth apps is fueling its demand. Moreover, the consultants and physicians are now increasingly adopting the mHealth platforms to reach out their patients. The patients can easily consult their physicians from the comfort of their home just at a press of a button. The favorable government regulations regarding the adoption of telehealth is fostering the growth of the mHealth industry, especially in the developed markets like North America and Europe.
Scope of the mHealth Market
| Report Coverage | Details |
| Market Size in 2020 | USD 46.1 Billion |
| Growth Rate From 2021 to 2030 | CAGR of 18.2% |
| Largest Market | North America |
| Fastest Gowing Market | Asia Pacific |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| By Application |
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| By Participants |
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| Companies Mentioned | Bayer Healthcare, Boston Scientific Corporation, Dexcom, Inc., Johnson & Johnson, Koninklijke Philips N.V, Masimo Corporation, Medtronic plc, Omron Corporation, Samsung Group, Sanofi |
Component Insights
The apps segment dominated the global mHealth market, garnering a market share of over 86% in 2021. This is attributed to the increasing number of mHealth startups and the aggressive marketing through the digital channels. The social media played a crucial role in spreading the awareness regarding the mHealth apps that boosted the adoption in the past couple of years. With the rising penetration of internet and rising number of smartphone users, the growth of this segment is expected to gain traction in the forthcoming years. Moreover, the mHealth apps may impact the health and treatment results in a positive way. The mHealth can help to store and manage health related information and can improve patient care.
On the other hand, the wearable segment is expected to gain rapid traction in the forthcoming years. This is attributable to the rising adoption of the wearable devices among the population for fitness and health goals. The increasing popularity of various wearable products like smart watches and fit-bit is expected to drive the growth of this segment in the foreseeable future.
Services Insights
The monitoring services segment garnering market share of 63% in 2021. This is attributed to the increasing prevalence of various chronic diseases along with the rising demand for the remote patient monitoring. The growing geriatric population across the globe is further expected to drive this segment’s growth significantly. The old age people are more prone to various chronic diseases and needs to be monitored regularly.
The availability of the fitness related apps is also fueling the adoption of the mHealth among the population. The rising health consciousness, growing obese population, and rising consciousness regarding the food habits is compelling the people to seek the professional advice on the mHealth applications. Hence, this segment is expected to witness a considerable growth rate during the forecast period.
Region Insights
North America dominated the global mHealth market, garnering a market share of around 41.5% in 2021. The region is characterized by the growing adoption of the digital technologies in the healthcare sector, presence of sophisticated IT and telecommunication infrastructure, increased penetration of internet, and increased adoption of smartphones. Moreover, the increased prevalence of various diseases and presence of huge geriatric population has fostered the growth of the market in North America. The presence of numerous market players and their investments in the digital marketing has significantly fueled the growth of the mHealth market in the region. The increased healthcare expenditure coupled with the increased demand for the convenient healthcare services are positively impacting the market growth.
On the other hand, Asia Pacific is expected to be the fastest-growing region during the forecast period. This is attributable to the increasing government investments in the development of strong IT and telecommunications infrastructure. Moreover, the presence of huge youth population along with the huge social media users in the developing markets like China, India, and Indonesia is presenting lucrative growth opportunities to the market players operating in the market. Moreover, the rising consumer awareness regarding the benefits of the mHealth platforms is further expected to drive the market growth in the forthcoming future.
COVID-19 Scenario
The global mHealth market gained rapid traction in 2020 owing to the outbreak of the COVID-19 pandemic. The lockdown measures adopted by the government to control the spread of the COVID-19 virus presented a lucrative opportunity for the mHealth industry. The rapid emergence of the mHealth startups across the globe and the increased need for virtual healthcare solutions among the consumers had perfectly boosted the growth of the global mHealth market in 2020.
Key Developments
The various developmental strategies like partnerships and new product launches fosters market growth and offers lucrative growth opportunities to the market players.
Some of the prominent players include:
Segments Covered in the Report
By Component
By Application
By Participants
By Geography
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