mHealth Market Value to Reach USD 152.2 Billion by 2026

LOS ANGELES, Nov. 7, 2019 /PRNewswire/ -- With digitization successfully penetrating in the healthcare sector, the global mHealth market is expected to rise at an impressive 26.1% CAGR between 2018 and 2026, finds Acumen Research and Consulting in a report, titled "mHealth Market (By Services - Connected Sensors [Inhaler Sensors, Injection Sensors], Integrated Connected Devices [ Integrated Inhaler, Integrated Injection];By Technology - Bluetooth, NFC, Other Technologies (Cellular, Low Power Wide Area Network); By Participants - Healthcare Providers, Homecare Centers) - Global Industry Size, Share, Trends and Forecast 2018 - 2026".

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The report offers insights into prevailing mHealth market trends. Besides this, it highlights growth opportunities across the world and identifies the segments offering the most lucrative prospects for growth. The report includes information obtained from trusted industrial sources. In addition to this, it reveals the growth strategies undertaken by leading companies in the market. It therefore profiles some of the leading market players and gauges the impact of their expansion strategies on the overall mHealth market. It is intended to help stakeholders gain a comprehensive overview of the global market.

Rising Demand for Digital Health Technologies to Boost Growth

It is important to note that mHealth is one of the most widely adopted digital health technologies across the world. In fact the market is predicted to exhibit a double-digit growth during the course of the report's forecast period. Factors such as the rising internet penetration and increasing incidence of chronic ailments such as diabetes and cardiovascular diseases will support the mHealth market growth in the coming years. Considering this, the rising demand for smartphones and improving accessibility to digital technologies will prove a boon to the market.

As per the statistics published in one of the recent studies conducted by GSM Association, the number of users connected via mobile services surpassed five billion in 2017. Furthermore, the pool of unique mobile subscribers is likely to exponentially rise, reaching 5.9 billion by the end of 2025. This coupled with funding towards mHealth start-ups and skyrocketing demand for preventive healthcare will boost the market in the near future.

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Government Support Expected to Encourage Growth in Coming Years

In addition to the penetration of digital technologies, government support to encourage digitization in healthcare sector will bode well for the overall market. Besides this, economic factors such as the rising geriatric population, increasing prevalence of chronic ailments, and increasing willingness to spend on advanced healthcare will boost the global mHealth market in the coming years.

In order to provide in-depth study, the report segments the global market in terms of three main parameters. These include region, service, and participants. In terms of service, the global mHealth market can be segmented into diagnosis services, monitoring services, services to strengthen healthcare systems and others. The monitoring services segment can be further classified into chronic disease management, independent aging solutions, and post-acute care services. The report offers detailed information on the drivers and restraints impacting the growth of this market across each of the aforementioned segments.

Growth in Europe Likely to Be Supported by High Adoption of Latest Technologies

In terms of participant, the mHealth market can be segmented into content players, mobile operators, device vendors, and healthcare providers. Regionally, the global mHealth market can be segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. According to the report, in 2018 Europe held the largest portion of the overall mHealth market share in terms of revenue. It is also expected to remain dominant over the course of the forecast period. The region shows a high adoption of latest technologies in healthcare. This coupled with the rising per capital healthcare expenditure, rising incidence of chronic ailments, and the increasing geriatric population will support the mHealth market growth in the region.

Related Reports:

• Digital Health Market (By Technology - Telehealth, Apps, Health Analytics, mHealth, Digital Health Systems, Market By Components- Hardware, Software, Services) - Global Industry Size, Share, Trends, and Forecast 2018-2026
• Home Healthcare Market - The global market size is expected to reach USD 528.2 billion by 2026 growing at a CAGR of 7.9% over the forecast period 2019 to 2026

North America is expected to emerge as the second-leading market for mHealth globally. Factors such s the presence of a large target population base and the increasing demand for advanced healthcare facilities will support the expansion of the market in North America. Besides this, Asia Pacific will emerge as a lucrative market. Strengthening internet penetration in the region, coupled with increasing awareness about modern healthcare, will pave the way for the growth of the market in Asia Pacific. In addition to this, the increasing willingness of patients to spend on advanced healthcare will support the growth of the market in the region.

• Europe captures the largest revenue share at 35.0% and will continue to retain its dominance position over the forthcoming years
• In 2018, Europe was generating highest revenue in the global mhealth market
• Asia Pacific is anticipated to showcase the highest CAGR of 27.0% over the forthcoming years

Key Players Analysis

Besides highlighting prevailing trends, the report profiles some of the leading players operating in the market. These include Vodafone Group, Apple Inc., AllScripts Healthcare Solutions, AirStrip Technologies, mQure, Qualcomm Inc., Softserve, Orange, Telefonica, Samsung Electronics, Google Inc., and AT&T. Besides investing in product launches, these companies are focusing on strategic collaborations to expand their footprint globally.

Market Segmentation as below:

Market By Services

• Connected Sensors
• Inhaler Sensors
• Injection Sensors
• Integrated Connected Devices
• Integrated Inhaler
• Integrated Injection

Market By Technology

• Bluetooth
• NFC
• Other Technologies (Cellular, Low Power Wide Area Network)

Market By Participants

• Healthcare Providers
• Homecare Centers

Market By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa (MEA)

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Acumen Research and Consulting (ARC) is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. Among the industries served include aerospace and defense, information and communication technology (ICT), semiconductor and electronics, healthcare and pharmaceuticals, chemicals, advanced materials, banking, finance services and insurance (BFSI), and others.

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