mHealth Market Size to Hit $410.39 Billion, Globally, by 2028 – Exclusive Report by The Insight Partners

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The global mHealth market is growing at a CAGR of 28.5% during 2021-2028.

Pune, India, Oct. 24, 2023 (GLOBE NEWSWIRE) — Mobile health (mHealth) is a technique that includes the use of mobile commination devices, such as mobile phones, tablets, PDAs (personal digital assistants) and other wireless devices for distributing health services and information. mHealth unlocks the new opportunities for improving monitoring of chronic conditions and help with developing the prevention aspect of the healthcare system. mHealth enables to offer the services on consultation, care management, diagnosis, and self-management services by using information & communication technologies (ICT). It involves a wide variety of technologies and tactics to deliver virtual medical, health, and education services to the users. mHealth is a collection of means that is used to enhance care and education delivery. mHealth include instruments, apparatus, machines or software (including mobile applications) that are involved in the delivery of healthcare services.

The global mhealth market is expected to grow from $70.83 billion in 2021 to $410.39 billion by 2028; it is estimated to grow at a CAGR of 28.53% from 2021 to 2028 owing to increasing adoption of smartphones & other mobile platforms and mAgeing program by the WHO. However, security and privacy issues and stringent regulations and policies hinder the market growth.

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Global mhealth Market: Competitive Landscape and Key Developments
AT&T, Apple Inc., Samsung Electronics Co. Ltd., Google Inc., Qualcomm Technologies Inc., Cisco Systems Inc., Medtronic PLC, Koninklijke Philips N.V., Allscripts Healthcare Solutions, and Boston Scientific Corp are key companies operating in the global mhealth market. Leading players focus on expanding and diversifying their market presence and clientele, thereby tapping prevailing business opportunities.

In February 2020, DexCom signed a commercialization agreement with Insulet Corporation, a medical device company. Under this agreement, the companies aimed to combine current and future Dexcom continuous glucose monitoring systems (CGM) with Insulet’s trusted tubeless insulin delivery Pod into the Omnipod Horizon System for automated insulin delivery.

In February 2022, Highmark Health has launched Dubbed Well360 Diabetes Management, a virtual care program for adults with type 2 diabetes that includes personalized care management, remote patient monitoring, and telehealth.

Impact of COVID-19 on Global mHealth Market:
North American region is highly affected due to the outbreak of the Covid-19 pandemic. Countries such as the US and Canada reported the highest numbers of COVID-19 positive cases. The US-registered highest number of deaths due to the COVID-19 pandemic. The chaotic situation was created in the medical industry across the countries, increased demand for diagnosing and therapeutic devices have dramatically increased in the hospitals. For instance, demand for ventilators, respirators, and in vitro diagnostic (IVD) tests has risen drastically in the hospitals across the countries. On the other hand, demand for personal protective kits has significantly gone up. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide.

The FDA has increased its efforts to support the health of people and has imposed several guidelines and for hospitals and medical device companies. Various companies also enhanced their research and development activities for telemedicine and mHealth. For instance, companies such as MediBuddy, Practo, Wysa, HealthifyMe, Qikwell Technologies, icliniq, and Emunocare are the startups focusing on COVID-19 related services. Whereas, Thermo Fisher Scientific has increased its production and has produced 5 million tests per week in April. Likewise, Abbott has received Emergency Use Authorization (EUA) for a point-of-care test that can provide results in minutes. Thus, increased production by the companies has resulted in profits, and the outbreak of COVID-19 has shown a positive impact on market growth.

mAgeing Program by WHO
Mobile phones are the easy handled tools that are used to deliver the health information & advices and reminders. This will encourage the old aging population to improve and maintain their health and fundamental capacity. To improve the healthcare behaviors, in April 2018, the WHO mobile health for Ageing (mAgeing) program is designed to manage declines in basic or fundamental capacity on community-level mediations. The mAgeing program support the routine care that is offered by health care professionals for self-care and self-management and also upkeep the implementation of WHO guidelines that is also known as ICOPE Guidelines.

The WHO long-term care system aims to encourage the development of healthcare system and bring a change of sustainable and impartial long-term care systems worldwide. The system basically supports the care for older people that include their basic rights, fundamental freedoms and human dignity.

Global mhealth Market: Segmental Overview
The “Global mhealth Market” is segmented based on service, devices, end user, and geography. Based on service, the mhealth market is segmented into remote monitoring services, diagnosis services, treatment services, health support services, fitness & wellness services. By devices, the mhealth market is segregated as insulin pump, BP monitor, glucose monitor, personal pulse oximeter, and others. By end user, the mhealth market is segmented as mobile operators, device vendors, health providers, and others.

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North America is the largest market for mhealth across the globe. Among the North America province, the US is a major market for mhealth. mHealth in the US is entering a new phase of accelerating growth. The trend of using mobile phones for health purpose, represents an unprecedented opportunity for improving public health in the country. These increasingly powerful services are proving to be a lifeline for people who need improved access to health services. These applications span a broad range of activities such as data collection, health promotion, disease investigation, diagnostic support, disaster response, and remote patient monitoring. The rapid evolution of mhealth platform focusing on managing chronic conditions as well as achieving specific patient outcomes. The expansion of mhealth services offered by private and government operated healthcare systems such as American Medical Association and a new direct-to-consumer initiative by Boston Scientific Corporation and other key players in the region.

The increasing chronic illness, regulatory reform, accelerating health costs are few factors that are forcing health systems to rethink patient care in US. According to the American Hospital Association reports, more than 65% of US hospitals are already using mhealth and rest of others moving towards adoption of mhealth solutions. Moreover, the increasing acceptability and expansion of mhealth services indicate that there will be potential for wider adaptation of the mhealth solutions in US.

Go through further research published by The Insight Partners:

mhealth Solutions Market – Global Analysis and Forecast to 2030

Mobile Health (mHealth) App Market – Global Analysis and Forecast to 2030

Digital Healthcare Market – Global Analysis and Forecast to 2030

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