The global mHealth market size is expected to reach USD 151.57 billion by 2025, progressing at a CAGR 25.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is majorly driven by growing geriatric population, rising prevalence of chronic diseases, and increasing penetration of smartphones and internet connections. Technological advancements are leading to product innovations in the area of mHealth, which in turn will bode well for the market.
Growing inclination towards preventive healthcare and subsequently rising subscription to mHealth apps have been working in favor of the market. mHealth apps exhibit several features that offer healthcare benefits to healthcare providers as well as patients. mHealth apps provide accessibility to health related information. mHealth apps also ensure continuous communication between patients and providers, thereby allowing providers to diagnose, recommend, and monitor patients without even seeing them in person.
Adoption of smartphones with subscription to mHealth apps among adult population in the U.S. is rising in order to maintain routine check. For instance, according to a paper published in NCBI in February 2016, around 91.0% of adult population in the U.S. own a mobile phone, with 61.0% of them possessing smartphones.
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Further Key Findings From the Report Suggest:
In 2017, monitoring services held the largest revenue share owing to growing adoption of mhealth solutions for monitoring health conditions such as diabetes
The healthcare system strengthening services segment is likely to register the highest CAGR of 27.7% over the forecast period
Healthcare providers will be the most promising participant segment during the forecast period, mainly due to adoption of digital technology by healthcare facilities in order to optimize care management process
In 2017, Europe accounted for the largest revenue share in the market owing to rising research initiatives in the area of mHealth
Key players in this space include Apple Inc.; AT&T; Airstrip Technologies; Allscripts Healthcare Solutions; Google Inc; Orange; Soft Serve; mQure; and Samsung Electronics.
Grand View Research has segmented the global mHealth market on the basis of services, participants and region:
mHealth Services Outlook (Revenue, USD Million, 2014 - 2025)
Independent aging solutions
Chronic disease management and post-acute care services
Healthcare systems strengthening services
mHealth Participants Outlook (Revenue, USD Million, 2014 - 2025)
mHealth Regional Outlook (Revenue, USD Million, 2014 - 2025)
Middle East & Africa
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