mHealth Market Size, Share & Trends Report

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

  • Published Date: Feb, 2021
  • Base Year for Estimate: 2020
  • Report ID: 978-1-68038-076-7
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2019
  • Number of Pages: 118

Report Overview

The global mHealth market size was valued at USD 45.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 17.6% from 2021 to 2028. Growing penetration of smartphones & internet connectivity 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 expected to boost the market growth. Furthermore, the increasing adoption of mobile health technologies by patients, physicians, and other healthcare faculties is another important factor contributing to the market growth. For instance, as per a survey conducted in 2019 on students in two high schools in Croatia, published by the Journal of Librarianship and Information Science, around 84.3% of respondents reported having utilized their mobile devices for health information.

The U.S. mHealth market size, by component, 2016 - 2028 (USD Million)

Another example includes a survey of physicians conducted and published in NCBI in 2020, around 68% of the respondents agreed that the data related to biometrics and health collected by mHealth technologies helped promote a healthy lifestyle, and around 64% of respondents supported that these technologies helped track the medical treatment. Thus, a shift in trend from traditional practices of healthcare to preventive and patient-centric approaches is driving the market. In addition, the rising interest of consumers in the care management process is supporting the adoption of such technologies.

Favorable strategic developments by key market players and initiatives by the governments of various countries are also responsible for the market growth. For instance, in 2020, Philips announced the collaboration with American Telemedicine Association (ATA), for increasing the adoption and implementation of telehealth services. The applications and platforms designed by the company are beneficial for different healthcare conditions. According to MobiHealthNews, there were around 251 funding deals in the digital health space in 2019.

In addition, the Covid-19 pandemic has led to the increased utilization of mHealth technologies. Increasing adoption of remote patient monitoring and diagnosis & analysis of patient data are some of the factors responsible for increased penetration of mHealth technologies during the pandemic. For instance, according to the data published by App Annie, the number of medical apps downloaded during the peak months of lockdown as compared to medical apps downloaded in January 2020 demonstrated a spike of 65% at global level.

COVID19 mHealth market impact: 12.4% increase in sales growth

Pandemic Impact

Post COVID Outlook

The mHealth market grew at a rate of 12.4% from 2019 to 2020

The market is estimated to witness a y-o-y growth of approximately 17% to 18% in the next 3 to 4 years

Increasing adoption of remote patient monitoring and diagnosis & analysis of patient data are some of the factors responsible for the increase in penetration of mHealth technologies

Remote patient monitoring is gaining traction in this industry, mainly owing to the increasing adoption of telehealth in the coming years.

Pandemic has fueled the adoption of mobile health platforms and technologies. With respect to India, there was around 90% increase in medical apps downloads during the peak months of the pandemic.

Key players are strengthening their market share through strategic initiatives such as mergers & acquisitions.

 

On the other hand, data security and privacy concerns are some of the factors that may hinder the adoption of mHealth platforms, thereby limiting the market growth. Data breaches, configuration changes, or accessibility issues to sensitive information are impeding the growth of the market. For instance, in 2019, the data of around 25 million patients were leaked since American Medical Collection Agency (AMCA), a billing service vendor, was hacked for around 8 months between the period of August 2018 to March 2019. However, various governments are imposing stringent regulations on companies for better compliance, which will change the market dynamics in the coming years.

Component Insights

The mHealth apps component segment dominated the market with a share of over 87% in 2020. This high share is attributed to the increased penetration of smartphones & the internet and high awareness levels about mHealth among healthcare professionals. The segment will expand further at the fastest CAGR from 2021 to 2028 due to the growing adoption and visibility of mobile health apps.

In addition, these apps help improve the treatment outcomes or results and lifestyle, along with reducing the incidence of chronic diseases and other healthcare conditions. Furthermore, these apps help access the health information and enhance patient experience & engagement. This, in turn, helps build a smooth physician-patient interface that ensures transparency in the diagnosis and treatment process.

Services Insights

The monitoring services segment accounted for the highest revenue share of 62.3% in 2020 owing to an increased incidence of chronic diseases and demand for remote monitoring systems in post-acute care and independent aging solutions. Furthermore, there has been an increase in the number of market players investing in mHealth services for patient monitoring, which is expected to propel the growth of this segment.

The others' segment is expected to register the fastest CAGR over the forecast period. Other services include ensuring the wellness of patients and prevention of diseases through various mobile health applications. Rising health-consciousness and a growing number of fitness apps are the key factors driving the demand for mHealth services in wellness & prevention. Furthermore, demand for effective healthcare administration and workflow efficiency is anticipated to boost the segment growth in the coming years.

Participants Insights

The mobile operators' segment accounted for the highest revenue share of 47.5% in 2020 owing to improvements in network infrastructure, a rise in the use of 3G & 4G technologies, and an increase in the number of mobile subscribers. The segment will grow further at a steady CAGR from 2021 to 2028 due to a rise in the number of industry partnerships. The content players segment is expected to register the fastest CAGR over the forecast period.

Global mHealth market share, by participants, 2020 (%)

With the growing use of smartphones, there is an increasing trend of using various apps for communication and other purposes, which has led to the development of various healthcare apps that can effectively deliver different types of mHealth services. This, in turn, is fueling the demand for content players, thereby supporting the segment growth. The increasing involvement of content players in the development of mobile health platforms and technologies that are useful in diagnosis, remote patient monitoring, documentation handling, and appointment scheduling & tracking is likely to boost the segment growth during the forecast period.

Regional Insights

North America dominated the global mHealth market with a revenue share of 38.8% in 2020 owing to various factors including high healthcare expenditure & incidence of chronic diseases, a rise in geriatric population, and improved network infrastructure. Favorable government initiatives and increasing adoption of mobile health apps are projected to drive the regional market over the forecast period.

Asia Pacific is expected to be the fastest-growing regional market over the forecast period owing to the rising penetration of smartphones in the regional consumer market. For instance, according to The Mobile Economy 2020 by GSMA, unique mobile subscriptions in the Asia Pacific region reached 2.8 billion in 2019 and this number is estimated to reach 3.0 billion by 2025. In addition, an increasing number of digitalization programs by the governments of various emerging economies, such as China and India, is anticipated to drive the regional market in the coming years.

Key Companies & Market Share Insights

The market is highly competitive owing to the rise in demand for mobile health platforms and services coupled with technological advancements, which is likely to boost the entry of new companies. Mergers & acquisitions, strategic alliances, and extensive R&D in the area of mHealth technologies are some of the initiatives being undertaken by key companies to increase their market shares. For instance, in August 2020, Allscripts announced its strategic partnership with Sheba Medical Center for accelerating the development of AI-based technologies and improving patient care through the ARC Innovation Center of various hospitals. This partnership will help in increasing the visibility of the company in the mobile health domain. Some of the key companies in the global mHealth market are:

  • 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

mHealth Market Report Scope

Report Attribute

Details

Market size value in 2021

USD 53.6 billion

Revenue forecast in 2028

USD 166.2 billion

Growth Rate

CAGR of 17.6% from 2021 to 2028

Base year for estimation

2020

Historical data

2016 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Component, services, participants, region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; Spain; France; Italy, Russia; China; Japan; India; South Korea; Singapore; Australia; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

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

Customization scope

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2028. For the purpose of this study, Grand View Research, Inc. has segmented the global mHealth market report on the basis of component, services, participants, and region:

  • 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

  • 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

  • Participants Outlook (Revenue, USD Million, 2016 - 2028)

    • Mobile Operators

    • Device Vendors

    • Content Players

    • Healthcare Providers

  • 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

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