mHealth Market Size Worth $166.2 Billion By 2028 | CAGR: 17.6%: Grand View Research, Inc.

SAN FRANCISCO, Feb. 17, 2021 /PRNewswire/ -- The global mHealth market size is expected to reach USD 166.2 billion by 2028 and is expected to expand at a CAGR of 17.6% from 2021 to 2028, according to a new report by Grand View Research, Inc. Growing penetration of smartphones & internet connectivity, rising adoption of mHealth platforms and technologies by patients and physicians, and supportive government initiatives are among the key factors driving the market growth. Rising demand for preventive healthcare and increasing funding for the mHealth startups are also projected to propel the market growth.

Key suggestions from the report:

• mHealth apps segment dominated the market in 2020 owing to increased penetration of smartphones & the internet and high awareness levels about mobile health applications among healthcare professionals
• The segment will expand further at the fastest CAGR from 2021 to 2028 due to the growing adoption and visibility of such apps to create affirmative health outcomes along with the rising preference for mobile apps by healthcare professionals and patients
• The monitoring services segment dominated the market in 2020 owing to increased incidence of chronic diseases and demand for remote monitoring systems in post-acute care and independent aging solutions
• Increased number of market players investing in mHealth services for patient monitoring is also expected to propel the segment
• Monitoring services primarily involve the observation of diseases, health conditions, or other critical medical parameters for a defined time

Read 118 page research report with ToC on "mHealth Market Size, Share & Trends Analysis Report By Component (mHealth Apps, Wearables), By Services (Diagnosis, Monitoring), By Participants (Mobile Operators, Content Players), And Segment Forecasts, 2021 - 2028" at: https://www.grandviewresearch.com/industry-analysis/mhealth-market

In addition, the Covid-19 pandemic has led to increased utilization of mHealth technologies due to increased adoption of remote patient monitoring and diagnosis & analysis of patient data. For instance, according to data published by Statista, the number of medical apps downloaded during the peak months of the pandemic as compared to the number of downloads in January 2020 demonstrated a considerable spike. In India, in particular, there was around a 90% increase in the medical apps' downloads during the peak months of the pandemic.

Based on participants, mobile operators accounted for the highest revenue share in the market owing to improvements in the network infrastructure, increase in the use of 4G & 3G technologies, and rise in the number of mobile subscribers. A rise in the number of industry partnerships is another significant factor driving the segment growth. For instance, in 2019, OneLife, a mobile medical software company, partnered with AT&T for the development of a health-tracking watch to monitor a patient's heart rate, location, sleep, and movement.

North America dominated the global market with a revenue share of over 38% in 2020 owing to various factors including high healthcare expenditure, increased geriatric population, high prevalence of chronic diseases, and improved network infrastructure. Favorable government initiatives and increasing adoption of mobile health apps are anticipated to the regional market during the forecast period.

Grand View Research has segmented the global mHealth market on the basis of component, services, participants, and region:

• mHealth Component Outlook (Revenue, USD Million, 2016 - 2028)
• Wearables
• BP Monitors
• Glucose Meters
• Pulse Oximeters
• Sleep Apnea Monitors (PSG)
• Neurological Monitors
• Activity Trackers/Actigraphs
• mHealth Apps
• Medical Apps
• Women's Health
• Personal Health Record Apps
• Medication Management Apps
• Disease Management Apps
• Diagnostic Apps
• Remote Monitoring Apps
• Others
• Fitness Apps
• Exercise & Fitness
• Diet & Nutrition
• Lifestyle & Stress.
• mHealth Services Outlook (Revenue, USD Million, 2016 - 2028)
• Monitoring Services
• Independent Aging Solutions
• Chronic Disease Management & Post-acute Care Services
• Diagnosis Services
• Healthcare Systems Strengthening Services
• Others
• mHealth Participants Outlook (Revenue, USD Million, 2016 - 2028)
• Mobile Operators
• Device Vendors
• Content Players
• Healthcare Providers
• mHealth Regional Outlook (Revenue, USD Million, 2016 - 2028)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• Spain
• France
• Italy
• Russia
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Australia
• Latin America
• Brazil
• Mexico
• Argentina
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players of mHealth Market

• AT&T
• Telefonica S.A.
• SoftServe
• Google, Inc.
• Airstrip Technologies, Inc.
• Samsung Electronics Co. Ltd.
• Allscripts Healthcare Solutions
• Apple, Inc.
• Orange
• mQure
• Qualcomm Technologies, Inc.
• Vodafone Group

Find more research reports on Healthcare IT Industry, by Grand View Research:

• Fitness App Market – The global fitness app market size is expected to reach USD 15.5 billion by 2028. It is expected to expand at a CAGR of 21.6% from 2021 to 2028.
• Wearable Sensors Market – The global wearable sensors market size is anticipated to reach USD 2.86 billion by 2025 and is expected to grow at a CAGR of 38.8% from 2017 to 2025.
• Smart Healthcare Market – The global smart healthcare market size is anticipated to reach USD 528.9 billion by 2027. It is projected to grow at a compound annual growth rate (CAGR) of 16.2% from 2020 to 2027.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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