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Mobile Health (mHealth) Market Size 2022-2030 – Growing demand for smartphones and other wireless technologies is a key driver for revenue growth

The Global Mobile Health (mHealth) Market Size is Expected to Reach USD 310.37 Billion by 2030, from USD 51.90 Billion in 2021, at a CAGR of 29.5%, According to a New Report by Reports and Data . The growth of the market is driven by the increasing penetration of smart technologies in the healthcare sector.

The goal of mHealth (mHealth) is to empower patients by providing information about their health for proper management, thereby increasing access across the system including clinics and hospitals, improving results with better decision-making, while reducing costs.

Currently, millions of mobile health (mHealth) applications are available and used by people to manage their health, promote healthy living and access necessary health information. These tools are advancing rapidly and are also seeing massive adoption. In 2017, there were nearly 325,000 mHealth apps, over 80,000 mHealth app publishers, and the market sees 3.7 billion downloads per year.

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Growing investment in healthcare start-ups across the globe is giving impetus to the growth of mobile health (mHealth) market. In 2019, nearly $7.5 billion was invested in various start-ups in the United States alone, attempting to digitize the healthcare system across the region. A similar trend followed by developing economies will top up mHealth market share through 2030.

Growing mass awareness regarding the benefits of healthcare management, growth in personalized medicine, and growing need for point-of-care diagnosis and treatment are some of the other key factors that may augment the market mobile health (mHealth) revenue share through 2030.

Other key findings from the report suggest

  • Based on platform, the wearables segment is expected to grow substantially by 39.5% through 2027. Robust growth is driven by rising consumption awareness regarding exercise, diet and overall health, leading to the growing popularity of fitness apps and wearable technology. For example, as of November 2019, Fitbit, an American consumer electronics and fitness company, had 28 million active users worldwide and had sold over 100 million devices.
  • The mobile application segment accounts for 56.3% of the global mobile health (mHealth) market share and is expected to grow at a CAGR of 40.0% over the projected period.
  • Based on applications, the remote monitoring segment accounted for 18.6% of the industry share in 2019 and is expected to register significant gains through 2027. An exponential increase in the number of diabetes patients worldwide is fueling the adoption of remote monitoring applications. among the sick.
  • In the regional landscape, APAC is expected to witness substantial growth over the forecast period due to the unchecked population growth in the region. The Chinese government invested more than $64 billion in hospitals in 2019 to improve electric health monitoring systems in the region. Additionally, developing countries such as Indonesia and Malaysia are offering mobile health services to enable low-income people to access better health information. These factors will contribute to the growth of the regional market till 2027.
  • Europe is expected to register a growth rate of 28.9% through 2027 due to the uniform penetration of mobile health (mHealth) platforms in the region.
  • Key players in the global mobile health (mHealth) market include AT&T, Allscripts Healthcare Solutions, mQure, Apple Inc., Omron Healthcare Inc., Philips Healthcare, Samsung Electronics Corporation, Bayer Healthcare, Cardionet Inc., and LifeWatch AG, among others .
  • In April 2020, Samsung Electronics Co., Ltd., a South Korean multinational electronics company, announced that Samsung Smart TVs in multiple regions around the world would provide access to six new health and wellness apps in partnership with leading fitness brands including Echelon, Barre3, Calm, Obé Fitness, Jillian Michaels Fitness and Fitplan.

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For the purposes of this report, Reports and Data has segmented the global mobile health (mHealth) market based on platform, application, end-use, and region:

Platform Outlook (Revenue, USD Billion; 2019-2030)

Application Outlook (Revenue, USD Billion; 2019-2030)

  • Education and awareness
  • Monitoring of diseases and epidemics
  • Communication and training
  • Diagnosis and treatment
  • Remote data collection
  • Remote monitoring
  • Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

  • Doctors
  • The patients
  • Research centers
  • Insurance companies
  • Pharmacies
  • Government
  • Biopharmaceutical companies
  • Technology companies
  • Others

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Regional Outlook (Revenue, USD Billion; 2019-2030)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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A few points on how the report benefits stakeholders:

  • The reports include historical (2019-2020) and forecast (2021-2030) data points, revenue and CAGR in the form of tables, figures and graphs, with supporting detailed and qualitative written information for each .
  • The revenue breakdown is provided for each segment in these formats for global, regional and for each country in the respective region for each year between 2019 and 2030.
  • The report contains information on growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other market-related aspects.
  • The report contains data and information about customers, competitors, suppliers/distributors and other players and the global market.
  • Market research analysis is essential for all crucial business strategies and can help in many ways and provide a clearer understanding of the strategies deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that improve a company’s sales or perhaps provide ideas to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures, etc.
  • The report contains company profiles of the major companies operating in the market along with their respective revenue and operating segments, geographic scope, market footprint, headquarters, growth rates, recent developments, products/services, expansion strategies, expansion investments, etc.

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