mHealth Market Size, Share & Trends Analysis Report By Component (Wearables, mHealth Apps), By Services (Monitoring Services, Diagnosis Services), By Participants, By Region, And Segment Forecasts, 2024 - 2030

mHealth Market Size & Trends

The global mHealth market size was estimated at USD 63.5 billion in 2023 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.7% from 2024 to 2030. Rising penetration of digital health services for remote patient monitoring is also increasing demand for mobile health apps, which in turn is expected to propel market growth over the forecast years. Growing awareness among individuals to use mobile health solutions and supportive government initiatives to introduce and promote remote digital healthcare are some of the factors expected to boost market growth over the years. In addition, increasing use of smartphones among adult population and teenagers is also anticipated to drive growth of mHealth platforms and technologies in the upcoming years.

The pandemic has created multiple challenges for global healthcare services. However, this situation has provided a much-needed boost to digital health technologies in the field of disease surveillance, new strategy development, and frontline care services, which has led to the change in its product life cycle trajectory. Furthermore, to improve health of populations, mobile health platforms have gained traction during the COVID-19 pandemic. The pandemic has encouraged patients and healthcare providers for adoption of digital health platforms owing to infection fear and shutdown and lockdown scenarios across the globe. Moreover, growing adoption of mobile health technology and remote patient monitoring are some of the major factors anticipated to drive the market over the years.

Market Concentration & Characteristics

The global mHealth market is characterized by a high degree of innovation, with new technologies and methods being developed and introduced at regular intervals. For instance, in January 2022, AT&T collaborated with Smart Meter to develop advanced digital health solutions for monitoring and tracking chronic ailments, such as diabetes, using Smart Meter’s IoT devices and AT&T’s well-established IoT network.

Several market players such as AT&T, Google, Inc., Airstrip Technologies, Inc., Samsung Electronics Co. Ltd., Allscripts Healthcare Solutions, Apple, Inc., Orange, mQure, Qualcomm Technologies, Inc., Vodafone Group are involved in merger and acquisition activities. Through M&A activity, these companies can expand their geographic reach and enter new territories.

Favorable government policies & initiatives pertaining to development of healthcare IT infrastructure are positively impacting the market. Smokefree.gov and BeTobaccoFree.gov are some of the health initiatives undertaken by the U.S. Department of Health and Human Services, the National Institute of Health, and the National Cancer Institute.

Key players in the market adopt this strategy to increase their reach in the market. Product expansion includes adding new features to existing products. For instance, in March 2023, Apple Inc., to improve digital health, announced plans to upgrade AirPods with health tracking features, including temperature monitors, motion detectors, and biometric sensors to detect perspiration & heart rate, by 2025.

Market Dynamics

Favorable government strategies and increasing collaboration of the manufacturers with several healthcare institutions are also expected to drive the market over the years. For instance, Philips collaborated with the American Telemedicine Association (ATA) in 2020 to increase implementation and adoption of telehealth services during the COVID-19 pandemic. Similarly, the increasing investments in digital health are also one of the major factors anticipated to propel the growth of the market. For instance, as per Becker's Healthcare report during the first three quarters of 2021, there has been 251 digital health investment deals.

Moreover, privacy and data security concerns are some of the factors anticipated to hamper adoption of mHealth technologies. Data accessibility issues, configuration changes, data breaches, and cyber security threats are concerns expected to impede the market growth. For example, in 2019, personal and medical data of about 24.4 million people was leaked by the American Medical Collection Agency (AMCA), a medical bill collector for several companies. However, this type of restraint is expected to reduce during forecast periods with the government imposing stringent regulations on the market players regarding data privacy.

As per statistics published by the GSM Association report, The Mobile Economy2022, number of people connected to mobile services was 5.3 billion in 2021, and number of unique mobile subscribers is expected to reach 5.7 billion by 2025(70% of the global population). Penetration of smartphones is also rising significantly. As per The Mobile Economy 2022, smartphone penetration was 75% in 2021 and is expected to reach 84% by 2025. Recently, mHealth has rapidly grown in low-income countries due to high penetration of mobile phones. The number of health apps has increased significantly in recent years. As per data published by MobiusMD, as of 2021, there were 350,000 health, medical, and fitness apps in the market. Health apps facilitate effective communication between patients living in remote locations and healthcare professionals. Moreover, usage of mobile devices is rising among physicians. As per a report by BMC Health, around 82% of people use mobile phones for patient engagement. Thus, the rising importance of mobile phones and mHealth for improving health outcomes & patient care is driving the market.

Component Insights

Based on component, the mHealth apps segment dominated the market with a revenue share of 77.5% in 2023. Increasing penetration of internet & smartphones and growing adoption of mobile health apps by healthcare professionals and patient population are factors responsible for high market value of the segment. Furthermore, growing awareness of to use mobile health apps for remote patient monitoring, patient tracking, medication management, disease management, fitness and wellness, women's health, personal health record management, etc. are also anticipated to drive segment growth over the forecast years.

The growing prevalence of chronic diseases, coupled with high adoption of remote patient management technologies is anticipated to provide growth to mHealth apps segment at the fastest rate over the forecast period. Increasing recommendations by healthcare professionals to adopt mobile health apps to improve clinical outcomes and better patient engagement are also anticipated to accelerate the segment growth over the forecast period.

Services Insights

Based on services, monitoring services segment accounted for largest revenue share in 2023. Growing incidence of infectious and chronic diseases and rising demand for remote monitoring platforms in post-acute care are among the factors driving the growth of the segment. In addition, an increase in investments for inpatient monitoring by leading market players is also anticipated to accelerate the segment growth over the years.

The diagnosis services segment is anticipated to grow at the fastest growth rate over the forecast period. The growing number of applications and platforms that are capable of diagnosis and increase in health consciousness are major factors driving the segment growth. Furthermore, growing demand for workflow efficiency and effective healthcare administration is expected to accelerate the demand for mobile health services in the upcoming years.

Participants Insights

Based on participants, the mobile operators segment dominated the market with the largest revenue share in 2023. An increase in the number of mobile subscribers and improvements in network infrastructure are major factors responsible for the largest share of the segment. In addition, rising 3G & 4G technologies and growing industry consolidation activities by the leading players are also anticipated to drive the segment growth over the forecast years.

The content players segment is anticipated to grow at the fastest growth rate during the forecast years. Increasing trend of using smartphones and rapid development of several healthcare mobile apps are the factors driving the growth of this segment. Furthermore, direct involvement of content players in the development of medical health applications and technologies, documentation handling, remote patient monitoring, health activity tracking, and appointment scheduling are also anticipated to drive the segment growth over the forecast years.

Regional Insights

North America accounted for the highest market share of 36.5% in 2023 owing to several factors, including growing healthcare expenditure, increasing incidences of chronic diseases, rising geriatric population, and highly developed network infrastructure. In addition, favorable government initiatives and growing adoption of mobile healthcare applications are accelerating the demand for mHealth services in the region.

Asia Pacific region is expected to witness the fastest growth over the forecast period due to increasing smartphone penetration in the consumer market of the region. For instance, as per the data published by The Mobile Economy 2020, GSMA, unique mobile subscriptions are estimated to reach 3 billion by 2025 in the Asia Pacific region which was 2.8 billion in 2019. In addition, growing government programs for digitalization of healthcare systems in various emerging economies such as India and China are further expected to drive market growth over the forecast years.

Key Companies & Market Share Insights

Increasing demand for technologically advanced mobile health platforms and services is responsible for high competition among the players. Growing acceptance and awareness to adopt healthcare applications are likely to provide opportunities for the entry of new players in the coming years.

Furthermore, increasing industry consolidation activities such as acquisitions and mergers by the top market players as well as growing initiatives in R&D of mobile health applications by key players are also anticipated to increase their share in the market. For instance, in 2020, Allscripts made strategic partnerships with Sheba Medical Center to improve patient care through accelerating the development of AI-based technologies. Hence, these types of partnerships are anticipated to help in increasing the company's market share in the mobile health industry.

Recent Developments

• In October 2023, Cedars-Sinai introduced a new artificial intelligence-powered mobile health application, the Cedars-Sinai Connect app, that offers virtual care alternatives for various clinical issues. It offers same-day primary care visits and round-the-clock virtual access to medical specialists for urgent treatment.

• In November 2022, Hartford HealthCare entered a long-term partnership with Google Cloud for advancement of healthcare system with improvement in data analytics, digital transformation, and enhancement of delivery care & access.

• In April 2022, AirStrip Technologies, Inc. collaborated with FifthEye to combine and resell the FDA-approved software-AHI System-as Fifth Eye’s AHI System for real-time detection & prediction of hemodynamic instability.

• In June 2021, Orange launched Future4care, a start-up accelerator program with an aim to support 150 start-ups in developing e-health solutions with the motive of benefiting both healthcare professionals and patients.

• In April 2020, Google announced the launch of the Google Cloud Healthcare API platform. This software is designed to enable data exchange between solutions built on Google Cloud and healthcare applications. 

mHealth Market Report Scope

Global mHealth Market Report Segmentation

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 2018 to 2030. For this study, Grand View Research, Inc. has segmented the global mHealth market report based on component, services, participants and region:

• Component Outlook (Revenue, USD Million, 2018 - 2030)

  • 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, 2018 – 2030)

  • Monitoring Services

    • Independent Aging Solutions

    • Chronic Disease Management & Post-acute Care Services

  • Diagnosis Services

  • Healthcare Systems Strengthening Services

  • Others

• Participants Outlook (Revenue, USD Million, 2018 – 2030)

  • Mobile Operators

  • Device Vendors

  • Content Players

  • Healthcare Providers

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • Italy

    • France

    • Spain

    • Russia

  • Asia-Pacific

    • Australia

    • China

    • Japan

    • South Korea

    • India

    • Singapore

  • Latin America

    • Mexico

    • Brazil

    • Argentina

  • Middle East Africa

    • South Africa

    • Saudi Arabia

    • UAE