mHealth Market Size and Share Analysis Report by Offering (Connected Devices, Services, mHealth Apps), Stakeholder (Mobile Operators, Device Vendors, Application/Content Players, Healthcare Providers) - Global Industry Demand Forecast to 2030

Market Overview

The global mHealth market generated revenue of USD 59,640 million in 2022, which is expected to witness a CAGR of 12.60% during 2022–2030. This can be ascribed to the surge in the penetration of smartphones, tablets, and other mobile communication platforms, along with that of connected medical devices and mHealth apps. Furthermore, the growing geriatric population and chronic disease prevalence, rising demand for remote patient monitoring services, and mounting focus on patient-centric healthcare services are driving the market.

Connected Devices To Hold Largest Revenue Share

The connected devices category accounted for the largest revenue share, of around 48%, in 2022, and it is further expected to maintain its position during the prediction period. This can be ascribed to the growing internet penetration, rising usage of smartphones and tablets, escalating need for improved patient care, surging demand for a lower cost of care, and strong focus on real-time disease management. In addition, the rapid population growth, surge in the incidence of various lifestyle-associated diseases, growth in the trend of home-based diagnoses, and rapid implementation of EHRs are driving the uptake of connected medical devices.

Among the various kinds of network-connected medical devices, blood pressure monitors held the major revenue share in 2022, and they are expected to dominate the market in the forecast period too. This can be attributed to the surging consumer preference for home-based monitoring, rising number of product launches by industry players, and increasing number of hypertension cases across the globe.

Furthermore, mHealth apps will register the fastest growth in the coming years. This is due to the increasing focus of industry players on developing healthcare apps that focus on patient data management and evaluation. Additionally, the increasing prevalence of chronic diseases, widespread use of remote patient care technologies, burgeoning adoption of such apps on the suggestion of doctors, to enhance clinical outcomes and boost patient involvement, and booming trend of fitness apps are behind the surge in the downloads of mHealth applications.

Of the two types of such apps, the healthcare category accounted for the larger revenue share in 2022, and it is expected to maintain its position during the prediction period. This can be attributed to the surging incidence of chronic diseases among the elderly population, rising preference for convenient health solutions, and high internet as well as smartphone penetration.

The service category also contributed significant revenue in 2022. This can be attributed to the increasing requirement for remote monitoring, online consultation, healthcare surveillance, and emergency response; surging number of outpatient settings, rising need for regularly tracking patients’ health, and mounting number of government initiatives to spread awareness on overall health.

Furthermore, the category is further divided into remote monitoring, diagnosis and consulting, treatment, healthcare system strengthening, fitness and wellness, and preventive services. Among these, remote monitoring accounted for the major share in 2022, and it is further anticipated to dominate the market during this decade. This is mainly due to the growing adoption of these services to monitor patients’ conditions, even in the remote areas of developing as well as developed countries.

Surging Demand for Patient-Centric Care Models Boosts Solution Uptake

With the evolution of IT, there has been a rise in the preference for patient-centric healthcare models. Although hospitals and other medical institutions, such as ambulatory surgery centers (ASCs) and private clinics, maintain extensive patient records, including lab reports, ongoing treatment processes, and prescribed medications, it is not possible for patients to access such information every time, especially if they are remotely located or traveling.

Here, portable communication devices, such as smartphones and tablets, provide access to patients to their health records, which can encourage proactive and preventive care. Moreover, mobile devices include various features, such as Bluetooth, location sensing, and apps, which can help users track exercise and get medication reminders.

Patients are increasingly willing to be monitored wirelessly at home, rather than receiving traditional hospital-based care. Moreover, mHealth solutions enable patients to book appointments, obtain test results, and access medical records.

Mobile Operators Account for Major Share

Mobile operators accounted for the largest revenue share, of 51%, in 2022, and they are further expected to maintain their dominance during the forecast period. This can be ascribed to the increase in the number of subscribers, continuous improvement in the network infrastructure, rise in the adoption of the 4G and 5G technologies, and increase in the count of industry consolidation activities.

Additionally, the healthcare providers category will witness significant growth in the coming years. This is due to the surging need for improved and cost-effective medical infrastructure, increasing number of industry players, rising pace of technological advancements in the healthcare sector, and growing consumer consciousness toward health and related products.

Whereas, the application/content players category will register the fastest growth owing to the mounting number of connected devices, growing consumer engagement, and increasing need for improved customer support. Moreover, the mounting adoption of the mobile health technology and increasing awareness regarding the benefits of the related apps in remote patient monitoring contribute to the category’s growth.

Rising Need for Remote Patient Monitoring Solutions Drives Industry Growth

Globally, there has been an increase in the need for remote patient monitoring solutions, mainly due to the surging geriatric population and lack of primary healthcare facilities in the remote areas of developing nations. Remote patient monitoring helps in reducing the overall care cost by collecting the health-related data of patients from home, through digital health platforms connected to the database of the care provider. Moreover, players in the market are introducing various medical devices that, when connected to the internet, enable remote patient monitoring.

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North America Dominates Market

North America accounted for the largest revenue share, of around 38%, in 2022, and it is further expected to maintain its dominance during the forecast period. This can be ascribed to the rising healthcare expenditure, increasing number of chronic disease cases, booming elderly population, and well-developed network infrastructure. Furthermore, the growing burden of CVDs and rising count of in-hospital patients boost the regional market advance. Additionally,

• The U.S. contributed the majority of the revenue in 2022 owing to the mounting usage of consumer electronics, high preference for telemedicine, and rapid adoption of fitness and health apps that provide real-time information to patients.

Europe also contributed significant revenue to the market in 2022. This was due to the high rate of adoption of advanced technologies and infrastructure development and the presence of a significant number of industry players. In addition,

• Germany dominates the European market owing to the government initiatives for enhanced healthcare, wide usage of smartphones for improving health and lifestyles, rise in the per capita healthcare expenditure, and high rate of acceptance of cutting-edge healthcare technologies.

APAC will witness the fastest growth in the coming years, with a CAGR of 14.7%. This can be ascribed to the mounting investments by the major players in HIT solutions due to the increase in the healthcare expenditure in the developing economies of the region and increasing prevalence of chronic diseases. Moreover,

• Emerging economies, including China, India, and South Korea, are the major contributors to the regional market. This can be attributed to the increasing demand for advanced healthcare technologies, growing R&D expenditure by healthcare companies, and arrival of new players in the industry.
• Additionally, major players are investing in the untapped markets of the region, which is leading to the easy availability of connected devices, mHealth mobile apps, and associated services.

Increasing Penetration of Digital Platforms Propels mHealth Solution Demand

The increasing penetration of tablets and smartphones in various developed as well as developing economies is a key factor driving the industry growth. Mobile users are rapidly switching to smartphones due to the availability of affordable 3G and 4G spectra. This rising penetration of smartphones, coupled with the growing awareness of the various advantages of these devices and services, including preventive care, will drive the demand for them.

Furthermore, the penetration of wireless communication technologies is no more limited to developed countries. The growth in mobile phone ownership is further set to continue as cell phones are now common in countries such as Kenya and Nigeria too. Smartphone apps facilitate self-monitoring for patients, wherever they are.

According to the University of Michigan National Poll, nearly three in ten adults aged 50–80 (28%) are using mobile health apps. These users include healthcare professionals, consumers, and patients. Thus, this growing adoption of digital platforms is expected to drive the demand for mobile healthcare solutions in developed as well as developing countries.

Top mHealth Providers Are:

• Medtronic plc
• Koninklijke Philips N.V.
• OMRON Corporation
• Johnson & Johnson
• athenahealth Inc.
• Cisco Systems Inc.
• iHealth Labs Inc.
• AliveCor Inc.
• AgaMatrix Inc.
• AirStrip Technologies Inc.

mHealth Market Size Breakdown by Segment

The study uncovers the biggest trends and opportunities in the mobile health market, along with offering segmentation analysis at the granular level for the period 2017 to 2030.

Based on Offering

• Connected Devices
  • Blood pressure monitors
  • Blood glucose monitors
  • Multiparameter monitors
  • ECG monitors
  • Pulse oximeters
  • Sleep apnea monitors
• Services
  • Remote monitoring
  • Diagnosis and consulting
  • Treatment
  • Healthcare system strengthening
  • Fitness and wellness
  • Preventive
• mHealth Apps
  • Healthcare apps
  • Medical apps

Based on Stakeholder

• Mobile Operators
• Device Vendors
• Application/Content Players
• Healthcare Providers

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico, and Rest of LATAM
• Middle East and Africa
  • Saudi Arabia
  • South Africa