mHealth - Global Forecast to 2027


mHealth - Global Forecast to 2027

 Category : Healthcare

 Published: Sep-2021
 Author: SPER Analyst

mHealth Solutions Market is projected to be worth ~$212.5 Billion by 2027

The global mHealth solutions market is expected to grow at a CAGR of ~24% from 2020 to reach USD 212.5 billion by 2027. The growth is primarily attributed to increasing adoption of smartphones, increasing awareness & utilization of mHealth applications, growing demand for home healthcare services, initiatives to curb healthcare expenditure, penetration of 3G/4G networks and prevalence of chronic diseases. However, lack of regulatory guidelines and standards, resistance from traditional physicians & patients and limited guidance from physicians for the selection of appropriate application may restrain the growth of this market. 

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The global mHealth solutions market study provides market data for-by product & services (connected devices, mHealth apps, medical apps, mHealth services). The study also evaluates industry competitors and analyses the market at a regional and country level.

mHealth apps segment dominated the mHealth solutions market in 2020 and will show similar trend in the forecast period. The largest share of this market is mainly due to prevalence of chronic diseases, growing adoption of smartphones & healthcare apps and increasing demand for self-health management measures.

By connected devices, vital sign monitoring segment accounted for the largest share of mHealth solutions market in 2020. The large share is mainly attributed to prevalence of chronic diseases, growing demand for vital signs monitoring devices for home and emphasis on curbing healthcare expenses. COVID 19 pandemic has further increased the adoption of vital sign monitors in various end use settings. 

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This research report analyses major geographies and provides a comprehensive analysis of North America (US, Canada), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, and RoAPAC), Rest of the world (Latin America, and Middle East & Africa). North America accounted for the largest share of the global mHealth solutions market. The large share of this market is attributed to growing usage of healthcare apps, adoption of advanced technology, presence of leading companies, government initiatives and growing adoption of smartphones. However, APAC is expected to grow at highest CAGR during the forecast period. High growth of this geographic segment is mainly attributed to increasing number of digitalization programs, emerging economies and penetration of smartphones, and rising awareness about mHealth apps. 

The major players operating in the global mHealth solutions market are 
  • Medtronic plc (Ireland)
  • Apple Inc. (US)
  • AirStrip Technologies (US)
  • AliveCor Inc. (US)
  • Nike Inc. (US)
  • Koninklijke Philips N.V. (Netherlands)
  • Johnson & Johnson (US)
  • Omron Corporation (Japan)
  • BioTelemetry Inc. (US)
  • athenahealth Inc. (US)
  • AgaMatrix Inc. (US)
  • Withings S.A. (France)
  • iHealth Labs Inc. (US) 

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