Global mHealth Market Report and Forecast 2024-2032

Global mHealth Market Outlook

The global mHealth market size was valued at USD 70.2 billion in 2023, driven by the increasing technological advancement in healthcare across the globe. The market size is anticipated to grow at a CAGR of 18.86% during the forecast period of 2024-2032 to achieve a value of USD 329.1 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global mHealth Market Overview

The increasing prevalence of chronic diseases has been contributing significantly to the rising demand for healthcare services, and applications such as chronic disease management and remote monitoring. These services are expected to enhance mHealth market growth as demand for these services is constantly rising.

Institutes and companies are increasingly investing in the development of digital healthcare services as it is widely accepted that these services have helped doctors provide better care and improve healthy lifestyles. Further, people are becoming more aware of the importance of early diagnosis of diseases, which allows patients to take preventive measures. Mobile medical platforms have risen in preference among people for consultation and book slots for consultation due to the convenience they provide.

The healthcare sector is increasingly becoming accustomed to patient-centered treatment and medication. This can provide excellent market enhancement opportunities as mHealth services can significantly help with this shift in trend by easily providing detailed information about the patient and tracking treatment records. Additionally, governments around the world are initiating plans and collaborating with institutions to support the development of remote digital healthcare. The efforts have dramatically increased in scale after the COVID-19 pandemic.

Rising Innovations Aiding the mHealth Market Demand

In June 2023, Know Labs (NYSE American: KNW), an emerging developer of non-invasive medical diagnostic technology, revealed the next stage in the development of its proprietary Bio-RFID™ technology, the Generation (Gen) 1 Device. Gen 1 incorporates Know Labs’ Bio-RFID sensor, proven as technically feasible and stable in delivering repeatable results in measuring blood glucose when used in a lab environment in a portable device.

Due to the absence of medical-grade, commercially available, non-invasive devices for measuring blood glucose, completion of Gen 1 is expected to make Know Labs the first company to deliver the world’s first FDA-approved non-invasive blood glucose monitor for the billions of people living with diseases such as diabetes and pre-diabetes worldwide. This development is further poised to boost mHealth market growth due to the availability of an innovative and non-invasive device that is convenient to use in the market. The market growth is also attributed to the increasing preference for minimally invasive blood glucose monitoring devices.

Gen-1 is like a portable research lab that can collect data in substantial amounts. With the help of this enormous amount of data, the device can be put to the test in several situations to perform better and learn about the efficacy it provides, which will be crucial for the users so that they can rely on the device.

Rising Product Launches to Aid the Market Growth

In November 2023, DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital health market, launched a new smart blood sugar meter for Apple iPhone 15 users to support ongoing engagement with new and existing members.

Additionally, In August 2023, Suki, the leader in voice artificial intelligence (AI) technology for healthcare, announced an enhancement for Cerner like the bidirectional ambient sync for Epic. The development of Suki Assistant empowers Cerner users to accelerate the creation of clinical documentation with ease and efficiency, enabling reduced cognitive load and documentation time. The rising introduction of such innovative products is likely to contribute significantly to the mHealth market share.

With bidirectional sync, doctors can work seamlessly across Cerner and Suki to stay productive and efficient with their documentation, providing incredible flexibility in their workflow. Such developments align right with the goals of mHealth which is to focus on leveraging technology to make healthcare processes more efficient and convenient.

Strategic Collaborations Between Market Players

In December 2023, Medtronic plc (opens new window) (NYSE: MDT), a global leader in healthcare technology, announced that it has entered into a definitive agreement to expand its partnership with Cosmo Intelligent Medical Devices, a subsidiary of Cosmo Pharmaceuticals. This AI-driven partnership will further capitalize on the achievements already realized with the GI Genius™ intelligent endoscopy module by offering continued innovation and scalable healthcare advancements for patients and caregivers globally.

Integration of advanced technologies such as artificial intelligence (AI) aligns with advancements in mHealth, a trend poised to expand the global mHealth market reach. The focus on expanding global reach and advancing healthcare aligns right with the broader goals of mHealth to provide accessible and innovative healthcare solutions on a global level with this exclusive collaboration.

Such collaborations focused on bringing innovation to healthcare to enable better and more effective diagnostic resources and procedures are expected to drive market growth during the forecast period.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global mHealth Market Segmentations

Market Breakup by Type

• mHealth Apps
  • Healthcare Apps
  • Medication Management Apps

• mHealth Devices
  • Blood Glucose Monitors
  • Cardiac Monitors
  • Hemodynamic Monitors
  • Neurological Monitors
  • Respiratory Monitors
  • Body and Temperature Monitors
  • Remote Patient Monitoring Devices
  • Other Devices

• mHealth Services
  • Treatment Services
  • Independent Aging Solutions
  • Chronic Disease Management
  • Diagnostic Services
  • Monitoring Services
  • Remote Patient Monitoring Devices
  • Medical Call Centers Manned by Healthcare Professionals
  • Teleconsultation
  • Post Acute Care Services
  • Wellness and Fitness Solutions
  • Other Services

Market Breakup by Application

• Cardiovascular

• Diabetes

• Respiratory

• Neurology

• Others

Market Breakup by Stakeholders

• Mobile Operators

• Device Vendors

• Healthcare Providers

• Application and Content Players

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global mHealth Market Regional Analysis

North America is leading the regional market due to factors such as increasing incidence of chronic diseases, rising geriatric population, growing healthcare expenditure, and increasing integration of advanced technologies in the healthcare domain. In addition, favorable government initiatives and the growing adoption of mobile healthcare applications are accelerating the demand for mHealth services in the regional market.

In October 2023, Cedars-Sinai launched a new artificial intelligence-driven mHealth application for patients in California providing virtual care options for various clinical conditions. The Cedars-Sinai Connect app offers 24/7 virtual access to healthcare professionals for urgent care and same-day appointments for primary care. Users can access the app to seek care for several conditions, including colds, headaches, anxiety, type 2 diabetes, wellness visits, and specialist referrals.

The app offers a step-by-step process to assist new and existing patients input their health-related details and symptoms. Once the information is submitted, the app evaluates the data and forwards it to a healthcare professional for review. The patient can then communicate with a healthcare provider through a video call.

This development aligns perfectly with mHealth which is focused on increasing productivity and providing convenience to its users through leveraging advanced technologies in healthcare.

Global mHealth Market: Competitor Landscape

In April 2023, Abbott (NYSE: ABT) announced the FDA approval for its FreeStyle Libre® 3 integrated continuous glucose monitoring (iCGM) system, featuring the world's smallest, thinnest, and most discreet glucose sensor. With the FDA's clearance of a standalone reader, Abbott is working to get the FreeStyle Libre 3 system added to Medicare's list of covered systems as soon as possible.

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Koninklijke Philips N.V.

• Abbott

• Medtronic

• Apple, Inc.

• AirStrip Technologies Inc.

• AliveCor India

• Omron Corporation

• BioTelemetry, a Philips Company

• Athenahealth, Inc.

• AgaMatrix

• Withings

• iHealth Labs, Inc.

• Cerner Corporation

• ZTE Corporation

• Cisco Systems, Inc.

• AT&T Intellectual Property

• Qualcomm Technologies, Inc.

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Read Our Top Selling Reports

Latin America In-vitro Diagnostics Market

Latin America Advanced Wound Care Market

Global Aortic Valve Replacement Devices Market

Global Acute Kidney Injury Treatment Market

Global JE (Japanese Encephalitis) Vaccine Market

North America Laboratory Informatics Market

Global Laboratory Information System Market

South Africa Orthopaedic Braces and Supports Market

Health Economics and Outcomes Research (HEOR) Market

Picture Archiving and Communication System (PACS) Market

mHealth Market Report Snapshots

mHealth Market Size

mHealth Market Analysis

mHealth Companies