mHealth Market to Register an Impressive CAGR of 29.1% by 2026; High Demand for Home-Based Remote Patient Monitoring Services to Accelerate Market Revenue

The global mHealth market size is predicted to reach USD 293.29 billion by 2026, the increasing application of mhealth in education & awareness, diagnostic & treatment support, healthcare supply chain management, remote monitoring, chronic disease management, and others will create new growth opportunities for the mobile health industry in the foreseeable future. In addition, the increasing demand for home-based remote patient monitoring services for geriatric patients will further boost the mHealth market share during the forecast period states the lead analysts at Fortune Business Insights. According to the report, titled “mHealth Market Size, Share & Industry Analysis, By Category (By Apps {Disease & Treatment Management, Wellness Management}, By Wearable {Body & Temperature Monitors, Sleep Trackers, Fitness Trackers, Glucose Monitors, BP Monitors, Cardiac Monitors}) By Services Type (Monitoring Services, Fitness & Wellness Solutions, Diagnostic Services, Treatment Services) By Service Provider (mHealth App Companies, Pharmaceutical Companies, Hospitals, Health Insurance) and Regional Forecast, 2019-2026”, the market size stood at USD 34.28 billion in 2018 and is predicted to exhibit a CAGR of 29.1% between 2019 to 2026.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/mhealth-market-100266

Key Segments in the Global mHealth Market Include:

• Category: Under the segment, the market is classified into apps and wearables. The apps are further sub-segmented into disease & treatment management and wellness management apps. The wellness management apps are expected to hold the lion’s share during the forecast period due to the growing demand for fitness apps. The rising trend among millennials to maintain a healthy body through various diet and exercise routines is another major factor enabling the growth of the segment. Furthermore, the wearable segment held maximum share in 2018 and is predicted to grow profoundly during the forecast period owing to the increasing prevalence of chronic diseases such as cardiovascular disorders (CVD), diabetes, respiratory disorders, and others. Moreover, the rising demand for fitness wearables devices such as wrist bands, smartwatch and others will bode well for the segment, which, in turn, will accelerate the mHealth market growth.


• Service Type: Under the segment, the market is classified into monitoring services, fitness & wellness solutions, diagnostic services, treatment services, and others. The monitoring services segment is predicted to account for maximum share in the market due to growing cases of chronic disorders across various regions. 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, the growing geriatric population along with the surge in mortality rate will contribute significantly to the segment’s growth.


• Service Provider: Under the segment, the market is categorized into mHealth app companies, pharmaceutical companies, hospitals, health insurance providers, and others. pharmaceutical companies are dominating the mHealth service provider market owing to the rising number of companies offering mHealth solutions in various developed as well as developing economies. The hospitals' segment is projected to witness considerable growth during the forecast period owing to the rising number of multi-specialty hospitals across several regions of the world. Additionally, the presence of state-of-the-art facilities in such multi-specialty hospitals will augment the healthy growth of the segment. Moreover, the availability of the desired infrastructure to accommodate mHealth services along with growing government initiatives to incorporate mHealth solutions will positively influence segments’ growth and therefore promoting the mHealth market trends.


• Geography: Under the segment, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East Africa. North America stood at USD 10.20 billion and is expected to grow rapidly during the forecast period owing to the increasing smartphone penetration in the U.S and Canada. The surge in cardiovascular cases will foster the healthy growth of the market in North America. Moreover, increasing awareness among the population pertaining to the facilities of mHealth will encourage growth in Asia Pacific.

Emergence of Fitbit will Exemplify Its Predomination

Fitbit, Apple Inc. and DEXCOM are some of the key players operating in the market. The launch of groundbreaking health wearables bands by Fitbit will spur competition among other key players. 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. The launch of these novel products is expected to attract more customers, thereby generating more revenue.

Some of the Prominent Players in the Global mHealth Market Include:

• Fitbit, Inc.


• Apple Inc.


• DEXCOM


• Jawbone Health Hub, Inc.


• Omada Health, Inc.

• July 2017: The acquisition of LifeWatch AG by BioTelemetry, one of the leaders in digital health and remote patient monitoring. The strategic acquisition is aimed at the expansion of the company’s portfolio.


• October 2019: Sony announced the launch of mSafety mobile health platform including a wearable.

The Global mHealth Market is Segmented into: