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mHealth Market Size, Share & Industry Analysis, By Category (By Apps {Disease & Treatment Management, Wellness Management}, By Wearable {Body & Temperature Monitors, Glucose Monitors}) By Services Type (Monitoring Services, Diagnostic Services, Treatment Services) By Service Provider (mHealth App Companies, Hospitals, Health Insurance) and Regional Forecast, 2019-2026

Region : Global | Published Date: Jan, 2020 | Report ID: FBI100266| Status : Published

 

KEY INDUSTRY INSIGHTS

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mHealth refers to the practice of public health and medicine supported by mobile devices such as mobile phones, personal digital assistants, tablets, and wireless infrastructure. Within digital health, mHealth encompasses all applications of multimedia and telecommunications technologies for the delivery of health information. Applications of mHealth include; education & awareness, diagnostic & treatment support, healthcare supply chain management, remote monitoring, chronic disease management and others. mHealth market is anticipated to witness significant growth across the forecast period, owing to increasing adoption of mHealth services across the globe. Moreover, increasing demand for home-based remote patient monitoring services for the elderly population is another crucial factor augmenting the mHealth market growth.


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Moreover, increasing number of companies entering the mHealth industry is another chief factor supporting market competition, and influencing major players to offer novel solutions to grab a strong foothold in the market. Moreover, the introduction of innovative mHealth technology supporting the broader aspect of the healthcare industry is another significant factor fueling product demand, thus boosting the mHealth market revenue. For instance, in December 2019, the U.S. Food and Drug Administration (FDA) announced the launch of CURE ID, a cloud-based repository for the clinical community to report their experiences treating rare infectious diseases with innovative uses of existing FDA-approved drugs through a smartphone, website or other mobile devices. Hence, such initiatives will strongly support mobile health market growth across the forecast period.


MARKET DRIVERS


“Increasing Penetration of Smartphones and Other Wireless Technology Will Spur Revenue Growth”


Increasing penetration rate of smart phones across the globe is one of the key factors propelling mHealth market growth. Many people have more than one smartphone, cellphone or tablet. As per the Center of Technology Innovations at Brooklings, the estimated number of cellular connections was more than 9.7 billion in 2017. For instance, Center for Technology Innovation stated that China and India represent the areas with the largest number of mobile devices. Growing usage of smartphones will enable the population to access several healthcare-related services through wireless multimedia, thus fostering the adoption of mHealth services. Hence, the aforementioned factor will strongly initiate market growth.               


“Increasing Patient/User Demand for mHealth Services Coupled with Growing Rate of Geriatric Population to Augment Market Growth”


Growing demand for mHealth services across the globe, owing to its user friendly characteristics and efficiency in handling an emergency situation is one of the primary factors supporting market expansion. The growing number of mHealth applications such as chronic disease management, remote monitoring are few of the features that help to eliminate the overall healthcare expenditure. Moreover, people above the age of 65 are more prone to chronic ailments. Hence, the increasing rate of geriatric population across various regions of the world is another growth fostering factor. For instance, in the U.S. 40 million people, i.e. around 12.9% of the population is above 65 years and the rate is estimated to rise along the forecast period. Hence, the above-mentioned reasons will considerably support mobile health market growth during the forecast period.


SEGMENTATION


By Category Outlook


“Apps Segment to Witness Lucrative Growth Owing to Growing Adoption of mHealth Apps”


Based on category, the market can be bifurcated into apps and wearable. The apps segment is further divided into disease & treatment management and wellness management apps. The wellness management apps are estimated to hold significant market share across the forecast period owing to increasing demand for fitness apps. Growing trend among the millennial to maintain a healthy body through various diet and exercise routines is another major factor fuelling the demand for fitness apps. Moreover, instant access to several dietary plans and workout routines, eliminating the need to purchase trainers, will further accelerate the mHealth market revenue.


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Wearable segment held maximum revenue in the mHealth market in 2018. High growth is due to growing adoption of wearable devices for medical as well as fitness goals. Increasing prevalence of chronic diseases such as cardiovascular disorders (CVD), diabetes, respiratory disorders, and others that require continuous monitoring will escalate wearable segment’s growth. Moreover, increasing number of manufacturers entering the mHealth market is another important factor boosting market growth. Also, Europe has the highest number of companies operating in the mobile health market. Additionally, growing demand for fitness wearable devices such as smart watch, wrist bands and others will further stimulate market growth across 2018-2026.


By Services Type Outlook


“Monitoring Services Segment to Witness Positive Growth Trajectory Owing to Increasing Prevalence of Chronic Disorders”


Based on services type, the market is classified as monitoring services, fitness & wellness solutions, diagnostic services, treatment services and others. The monitoring services segment is estimated to witness significant growth during the forecast period, owing to growing prevalence of chronic disorders across several geographical regions. The increase in the number of elderly people has corresponded with an increase in the mortality rate and prevalence of chronic illness. The growth in the number of Chinese population suffering from chronic ailments along with the growing treatment cost and longer recovery time is now a major public health issue in China. According to The State Council Information Office of the People’s Republic of China, doctors diagnose around 260 million people with chronic illnesses every year. Moreover, several chronic ailments require continuous monitoring, thus enabling the population to adopt monitoring services and thereby boosting mHealth market size.


Fitness & wellness solutions segment is forecasted to witness lucrative growth across 2018-2026. Positive growth is due to increasing prevalence of obesity across various countries such as China, India, the U.S., and few others. Rising habit of binge eating coupled with sedentary lifestyle are few of the significant factors contributing to the growing incidence of obesity across the globe. Increasing prevalence of obesity has led to generate concerns among the population about their health and thereby spurring demand for fitness & wellness solutions offered by the mHealth services. Hence, the aforementioned factor will strongly support mobile health market growth during the forecast period.


By Service Provider Outlook


“Novel Services Offered by Pharmaceutical Companies and Digital Health Startups Assist in Revenue Growth”


Service provider segment is sub divided into mHealth app companies, pharmaceutical companies, hospitals, health insurance providers, and others. In terms of revenue, pharmaceutical companies are leading the mHealth service provider market. Growing number of companies offering mHealth solutions in various developed as well as developing economies is one of the major factor contributing to segmental growth. Moreover, Europe has the maximum number of digital health startups operating in the market. Hence, increasing number of companies offering various novel mobile health services across the globe will considerably augment market growth. Hence, the aforementioned factors will initiate a positive growth trajectory across 2018-2026.


Hospitals segment is estimated to witness favorable growth across 2018 to 2026. High growth is attributable to growing number of multi-specialty hospitals across several regions of the world. Moreover, presence of state-of-the-art facilities in such multi-specialty hospitals will further augment business growth. Availability of desired infrastructure to accommodate such mHealth services along with growing government initiatives to incorporate mHealth solutions across maximum hospitals will positively impact segmental growth.


REGIONAL ANALYSIS


Europe held the maximum revenue in 2018 and is projected to witness significant growth throughout the forecast period. Increasing number of digital health startups entering the European mHealth market will considerably augment regional growth. Moreover, growing prevalence of chronic health disorders such as cardiovascular diseases and diabetes will further propel mobile health market size in the Europe. Also, rising demand for remote patient monitoring for people who are deprived of basic medical facilities due to geographical barriers, will further support Europe’s market growth.


In Asia Pacific, the mHealth market is anticipated to witness exponential growth across 2018 to 2026. Growing prevalence of chronic diseases will strongly augment Asia Pacific mHealth market size across the future. Also, mobile broadband usage is rising rapidly throughout the Asian countries, thereby augmenting regional growth. Additionally, increasing number of elderly population in countries such as India and Japan will further escalate Asia Pacific market share. Furthermore, growing healthcare expenditure is another significant factor boosting product demand across the forecast period.


North America mHealth Market Size, 2018

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In North America, the mHealth market is estimated to flourish owing to the increasing smart phone penetration rate in the U.S. and Canada. Moreover, increasing burden of chronic diseases across the U.S. is another significant factor contributing to the growth of mHealth market. Hypertension causes about half of the deaths associated with cardiovascular diseases. Most of the deaths caused by cardiovascular disease are preventable. Due to the dearth of basic healthcare facilities in rural areas, cardiovascular disease kills more people in rural areas than in developed regions. Real-time monitoring can benefit those people who suffer from cardiovascular diseases, thus augmenting market size in North America. Also, major companies functioning in the mHealth industry have an established presence in the North America market, thus augmenting revenue growth.


INDUSTRY KEY PLAYERS


“Fitbit to Emerge as One of The Top Players in The mHealth Market” 


In terms of mobile health market revenue, Fitbit, Apple Inc. and DEXCOM are few of the leading companies operating across the globe. The company holds a major proportion of shares in terms of mHealth in the U.S. Few of the notable players functioning in the mHealth market across the globe are Jawbone Health Hub, Inc., Omada Health, Inc., BioTelemetry, Inc, Livongo Health, AT&T, Boston Scientific Corporation, Omron Healthcare, Inc. and others. The mHealth market is fragmented in nature with multiple startups entering the market in recent years. Moreover, increasing number of companies offering innovative mHealth services to alleviate user experience will further boost product demand. For instance, in March 2019, Fitbit announced the launch of four new smart wearables called Fitbit Versa Lite Edition, Fitbit Inspire HR, Fitbit Inspire and Fitbit Ace 2. Such novel product launch assisted the company to attract more customers, thereby generating more revenue.


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REPORT COVERAGE


mHealth services help to reduce the overall costs of expensive medical bills. Increasing the adoption of mHealth apps across the globe is one of the major factor augmenting market growth. Moreover, rising initiatives by the major players operating in the industry to launch novel mobile health solutions will further boost product demand. Also growing smartphone penetration is another important factor propelling market growth. The report provides qualitative and quantitative insights on the global mHealth market trends and detailed analysis of market size & growth rate for all possible segments in the market.


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The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, competitive landscape, and product types. Besides, the report offers insights into the market trends and highlights key industry developments, such as mergers, acquisitions, and partnerships. In addition to the aforementioned factors, the report encompasses several key insights, such as statistics on smartphone penetration rate for key countries, data pertaining to healthcare expenditure for key countries, average costs of chronic illnesses by type of medical facility in the U.S., new product launches and others.


Report Scope & Segmentation











































 ATTRIBUTE



 DETAILS



Study Period



  2015-2026



Base Year



  2018



Forecast Period



  2019-2026



Historical Period



  2015-2017



Unit



  Value (USD billion)



Segmentation



By Category



  • Apps

    • Disease & Treatment Management

      • Healthcare Providers/Insurance

      • Medication Reminders

      • Women Health And Pregnancy

      • Disease Specific



    • Wellness Management

      • Fitness

      • Lifestyle and stress

      • Diet and Nutrition



    • Others



  • Wearable

    • Body & Temperature Monitors

    • Sleep Trackers

    • fitness Trackers

    • Glucose Monitors

    • BP Monitors

    • Cardiac Monitors

    • Others





By  Services Type



  • Monitoring Services

  • Fitness & Wellness Solutions

  • Diagnostic Services

  • Treatment Services

  • Others



By  Service Provider



  • mHealth App Companies

  • Pharmaceutical Companies

  • Hospitals

  • Health Insurance

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain,  Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East and Africa ( South Africa, GCC, and Rest of the Middle East & Africa)



INDUSTRY DEVELOPMENT:



  • July 2017: BioTelemetry, Inc. announced the acquisition of LifeWatch AG; one of the leaders in digital health and remote patient monitoring. Such inorganic strategic initiative assisted the company expand its product portfolio, thus augmenting business growth.

  • October 2019: Sony, announced the launch of mSafety mobile health platform including a wearable. The mSafety platform is designed for mHealth companies looking for a platform on top of which they can build patient monitoring solutions. Such initiatives will enable the company to grab a strong foothold in the mHealth market.


Frequently Asked Questions

The value of the global mHealth market was USD 34.28 billion in 2018.

Fortune Business Insights says that the mHealth market is projected to reach USD 293.29 billion by 2026.

The value of the North America mHealth market was USD 10.20 billion in 2018.

The mHealth market is projected to grow at a CAGR of 29.1% during the forecast period (2019-2026).

The Wearable segment is the leading segment in the global mHealth market.

Increasing smart phone penetration and the technological advancements pertaining to mHealth devices are the key factors driving the global mHealth market.

Apple Inc. and Fitbit Inc. are few of the top players in the global mHealth market.

Europe is expected to hold the highest market share in the global mHealth market in 2018.

Rising geriatric population coupled with increasing prevalence of chronic diseases are few of the mHealth market trends.

mHealth Market Size, Share and Global Industry Trend Forecast till 2026
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