The high penetration of smartphones across the globe is expected to fuel market growth. As per the statistics published by GSM Association’s report, the number of people connected to mobile services exceeded 5.1 billion in 2018. The number of unique mobile subscribers is anticipated to reach 5.8 billion by 2025 (71% of the global population). Growing number of mobile subscriptions in countries such as China, India, Indonesia, Bangladesh, and some African & Latin American countries is anticipated to drive the market growth. Rapid technological advancements and continuous improvement in network infrastructure are predicted to market growth. High demand for health apps and growing awareness of health apps for their benefits such as promote effective communication between patients living in remote areas and healthcare providers. Furthermore, smartphones offer benefits such as large storage capacity, ease of use, and portability, making them an optimal solution for monitoring and diagnostic services. Growing affordability and reduction in hardware costs are driving the demand for smartphones in the market. Recently mHealth has rapidly grown in low-income countries due to high penetration of mobile phones.
Several government initiatives such as R&D funding for healthcare IT and increased investment by market players are predicted to drive market growth. Recently, the Indian government launched four new mHealth initiatives, namely Kilkari, M-Cessation, Mobile Academy, and TB Missed Call Initiative, as a part of its Digital India program. These initiatives are aimed at enhancing access to medical care. The number of government initiatives in various countries is rising as mHealth aids in reducing healthcare expenditure. Moreover, increasing trend of preventive healthcare, growing geriatric population, and rising disease burden have increased the focus of policymakers on mHealt.
Data privacy and security concerns are the restraining factors in the market. The security of mobile devices is a top concern faced by these organizations. Risk of accessing connected devices or media is rising significantly as anyone in direct contact with connected technologies can install malicious programs, change configurations, access sensitive information, or change information. Thus, patients can hide some information due to lack of confidence in the security system, which may further hamper the efficiency of the overall treatment.
This section will provide insights into the contents included in this mHealth market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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