mHealth Solutions Market by Connected Devices (Glucose & Blood Pressure Monitor, Peak Flow Meter, Pulse Oximeter), Apps (Weight Loss, Women Health, Diabetes Management, Mental Health), Services (Remote Monitoring, Consultation) - Global Forecast to 2025
“The mHealth solutions market is expected to grow at a CAGR of 33.3% during the forecast period.”
The global mHealth solutions market is projected to reach USD 213.6 billion by 2025 from USD 50.82 billion in 2020, at a high CAGR of 33.3% during the forecast period of 2020 to 2025. The growing adoption of smartphones, increasing penetration of 3G/4G networks, increasing utilization of connected devices and mHealth apps for the management of chronic diseases, rising focus on cost containment in healthcare delivery, rising focus on patient-centric healthcare delivery, and the increasing demand for home healthcare services are some of the key factors driving the greater uptake of mobile technologies among both patients and healthcare professionals.
“Based on product and service, the mHealth apps segment accounted for the largest share of the market in 2019.”
In 2019, the mHealth apps segment accounted for the largest share of the mHealth solutions market. The large share of this segment can be attributed to the high and growing penetration of smartphones and healthcare apps and the rising incidence of chronic and lifestyle-related diseases across the globe (coupled with the effective utilization of apps in chronic disease management).
“By region, North America accounted for the largest market share in 2019.” In 2019, North America dominated the mHealth solutions market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America in the mHealth solutions market can be attributed to the high penetration of smartphones, tablets, and other mobile platforms; increasing utilization of connected devices & mHealth apps for the management of chronic diseases; development & adoption of innovative technologies; and rising government initiatives.
Breakdown of primary participants is as mentioned below:
By Company Type: Tier 1: 45%, Tier 2: 30%, and Tier 3: 25%
By Designation: C-level: 45%, Director-level: 30%, and Others: 25%
By Region: North America: 35%, Europe: 30%, Asia Pacific: 25%, Latin America: 5%, and Middle East & Africa: 5%
The prominent players in this market are Medtronic plc (Ireland), Apple, Inc. (US), AirStrip Technologies (US), AliveCor, Inc. (US), Nike, Inc. (US), Koninklijke Philips N.V. (Netherlands), Johnson & Johnson (US), Omron Corporation (Japan), BioTelemetry, Inc. (US), athenahealth, Inc. (US), AgaMatrix, Inc. (US), Withings S.A. (France), and iHealth Labs, Inc. (US).
The report analyzes the mHealth Solutions market and aims at estimating the current size and future growth potential based on various segments, such as product & service and region. It also covers competitive leadership mapping, which helps in analyzing the position of key market companies as visionary leaders, innovators, dynamic players, and emerging players. The report also provides a competitive analysis of the leading players in this market, along with their company profiles, product offerings, recent developments, and key market strategies.
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The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a greater market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their position in the market.
This report provides insights into the following pointers:
Market Penetration: Comprehensive information on product portfolios offered by the top players in the mHealth solutions market. The report analyzes this market by product & service and region.
Product Enhancement/Innovation: Detailed insights on upcoming trends and service launches in the mHealth solutions industry.
Market Development: Comprehensive information on the lucrative emerging markets by product & service and region.
Market Diversification: Exhaustive information about new testing services, recent developments, and investments in the mHealth solutions industry.
Competitive Assessment: In-depth assessment of market shares, growth strategies, service offerings, and capabilities of leading players in the mHealth solutions market.
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