mHealth Market Information, By Therapeutics(respiratory, mental and neurological disorders, fitness & lifestyle) By Application(monitoring, diagnosis & treatment, wellness & prevention) - Forecast to 2022
The report on the mHealth market suggests that the market may surpass a valuation of USD 21.71 billion by 2022, with a 36.5% CAGR during the forecast period with details of 2016 to 2022. Market Research Future (MRFR) enlisted several factors like a hike in smartphone users, growing inclusion of tablets, better percolation of digitalized networks, increasing awareness regarding personal care, expanding wearable device industry, improving lifestyle, and others as major reasons supporting the mHealth market growth. The health and fitness apps statistics indicate that health and fitness app market size would grow rapidly in the coming years, which would bolster mHealth market growth. A surge in the number of obese people worldwide would also boost the mHealth market.
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The global mHealth market had been studied by MRFR analysts on the basis of a segmentation that includes therapeutics and applications. These segments hold several insights of great worth that can boost the understanding of the market.
By therapeutics, the global market for mHealth can be segmented into mental and neurological disorders, diabetes, fitness & lifestyle therapeutics, respiratory, and others. The health app usage statistics are showing considerable rise in the segment of fitness & lifestyle therapeutics.
By application, the report with details of mHealth can be segmented into diagnosis & treatment, wellness & prevention, monitoring applications, healthcare management, education and awareness, remote data collection. The monitoring application segment has 61.8% of the market share.
The global market for mHealth is expected to be led by the Americas as their health-related infrastructure is better than most of the regions. It has 34% of the total market share. The regional market is expected to get thrust from technological advancements and their easy inclusion in the market. This market is also benefiting from a continuous influx of investment from both government and private players. In fact, the market is getting a huge push from the research and development sector, where constant innovation is playing a huge role. It is also getting backed by factors like digital awareness, high inclusion rate of smart rates, and growing health awareness. The same is also true for the European market where advanced nations like France, Germany, Italy, the UK, and others are becoming a better market for mHealth just like the US and Canada from North America.
In the Asia Pacific region, surging technological advancement is expected to play a better role in taking the market ahead. Growing digitalization, hike in smartphone users, and increasing health awareness would play prominent market-defining roles. India, China, Japan, Thailand, Australia, and others would contribute substantially.
The mHealth market has several players, and their strategic moves are really important for the market. Various tools they employ like mergers, collaborations, hike in investment for research, innovations, marketing strategies, acquisitions to inspire substantial changes. Their competitive dynamics to inspire market advancement. These companies are Alivecor, INC, Agamatrix, INC, Athenahealth INC, Apple, INC, Biotelemetry INC. (CARDIONET), AT&T, INC, Google INC, Jawbone INC, GE Healthcare, Philips Healthcare, Laboratory Corporation of America Holdings, Johnson & Johnson, and others.
In March 2020, researchers from the University of Waterloo declared that they have come up with a new mHealth wearable device that is flexible and durable and can fit the user very well. To introduce such changes, they used 3D printing technology. These devices would monitor every single detail from the performance of athletes to any vital signs. The device would gain easy traction with the rising health and wellness app market.
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