The global mHealth market is anticipated to become a global giant in the coming years, being valued at USD 316.8 billion by the year 2027, while expanding at a galloping CAGR of 29.2% during this period.
The global prevalence of diabetes, according to the International Diabetes Federation, was estimated to be 9.3% of the population (463 million people), which is expected to rise to 10.2% by 2030 (578 million), and 10.9% by 2045 (700 million). The urban population is more affected than the rural population, and additionally, 1 out of 2 people affected with diabetes do not know of its presence.
Blood glucose meters, which help in determining the amount of glucose in one’s blood, come under mHealth wearables, which are expanding at a rapid pace presently. Glucose meters help one to track fluctuations in their blood glucose levels, leading to better diabetes management.
Cardiovascular diseases were responsible for 17.3 million deaths, with 80% of the deaths occurring in middle- and low-income countries. 4 out of 5 deaths are caused due to heart attack and strokes, while 33% of these deaths have a premature occurrence in people under the age of 70 years. The disease also puts great financial burden on countries, with the United States seeing the direct and indirect costs of total CVDs and stroke being USD 351.2 billion between the years 2014-2015.
BP monitors are used for measuring blood pressure, which is of great use to people suffering from hypertension, as they can periodically check their blood pressure, and act on it depending on the results. These devices again come under wearable segments of the mHealth market, and are expected to witness continued healthy demand from consumers in coming years.
The number of mobile health applications has doubled since 2015, with a combined 318,000 mHealth apps catering to various segments now available across app stores. Additionally, 60% of people have downloaded an mHealth application, with wellness apps (85%), such as exercise and weight loss ones, as well as diet and nutrition grabbing a higher share than medical applications (15%).
According to a study by Accenture, two-thirds of the hospitals in the U.S. offer mobile health applications, while 90% of the physicians make use of smartphones at the workplace, in order to access EHR, communicate with teams, and manage appointments and schedules. This again helps in the expansion of mHealth apps in healthcare institutions.
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Further key findings from the report suggest:
- mHealth apps emerged as the largest component segment in 2019 with a revenue share of 86.1% in the global market owing to the increasing popularity of using apps to track health and fitness activities
- Amongst services, the monitoring services segment accounted for the largest share in 2019. However, diagnosis services is projected to register the highest CAGR over the forecast period owing to easy access to healthcare professionals for the diagnosis of health-related conditions
- Mobile operators emerged as the leading participant segment in 2019 and is also expected to register a significant growth rate over the forecast period owing to an increase in the number of mobile subscribers
- The Asia Pacific mobile health market accounted for the largest share in 2019 due to increasing research initiatives in the digital health space for the unmet healthcare needs in the region
- Key players operating in the mHealth market include Apple Inc.; AT&T Inc.; AirStrip Technologies; Allscripts Healthcare Solutions; Google Inc.; and SoftServe.
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Grand View Research has segmented the global mHealth market on the basis of component, service, participant, and region:
mHealth Component Outlook (Revenue, USD Million, 2016 - 2027)
- Wearables
- BP Monitors
- Glucose Meters
- Pulse Oximeters
- Sleep Apnea Monitors (PSG)
- Neurological Monitors
- Activity Trackers/ Actigraphs
- mHealth Apps
- Medical Apps
- Women's Health
- Personal Health Record Apps
- Medication Management Apps
- Chronic Disease Management Apps
- Diagnostic Apps
- Remote Monitoring Apps
- Others
- Fitness Apps
- Exercise & Weight Loss
- Diet & Nutrition
- Activity Tracking
mHealth Services Outlook (Revenue, USD Million, 2016 - 2027)
- Monitoring Services
- Independent Aging Solutions
- Chronic Disease Management & Post-acute Care Services
- Diagnosis Services
- Healthcare Systems Strengthening Services
- Others
mHealth Participant Outlook (Revenue, USD Million, 2016 - 2027)
- Mobile Operators
- Device Vendors
- Content Players
- Healthcare Providers
mHealth Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Spain
- France
- Italy
- Russia
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Australia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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