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Mobile Health (mHealth) Market is poised to grow at a CAGR of 25% in the forecast period and was USD 51,635 million in 2020 and had increased to USD 2,25,765 million by 2026.
The COVID-19 pandemic is likely to have a relatively positive impact on the overall market. In a bid to avoid the spread of infection further and protect front-line workers and patients alike, mobile health has emerged as a new savior. mobile health solutions largely through smartphones and remote monitoring have become a lifeline for consultation. The major factor for it is that many healthcare professionals taking a two-way approach to treating patients. Therefore, the rising cases of COVID-19 are expected to increase the mobile health business in the short term, and in the long run, this situation will result in the acceleration and wide adoption of digital solutions, especially those with remote care components. Before the pandemic, technology has been on the back-end in most hospitals. This is an opportunity to get in the front, by dealing with the patients through online gateways.
In March 2020, accuRx, which is a digital healthcare start-up that was supported by Innovate UK, developed and rolled out a video consultation software that could enable United Kingdom-based healthcare providers to communicate remotely with their patients, and the process is expected to minimize infection risk from seeing patients with COVID-19. Again, in 2020, LIVI, the United Kingdom branch of Europe’s largest digital healthcare provider KRY, announced the launch of a free web-based platform called ‘LIVI Connect’ across Europe that is expected to enable healthcare professionals to connect with remote patients during COVID-19 via video consultations.
The sudden global outbreak of corona virus is expected to boost the usage of telehealth and mobile health solutions such as tele-ICU devices as these will help caregivers to communicate effectively with their patients during pandemic and provide better solutions to their health concerns. Owing to social distancing implemented by various countries around the world, virtual care delivery is stepping up as an effective solution for safe and better communication
In recent years, the number of internet applications in healthcare increased exponentially. The internet has linked all the points in healthcare administration/services and created a separate network, which can be called the Internet of Things (IoT), for healthcare. With the help of the internet, healthcare professionals can deliver health information to consumers more conveniently, in lesser time, and at reduced costs. A growing preference toward mobile technology and internet and mounting demand for digital health is expected to boost market growth. As per Eurostat data, in 2019, the share of EU-27 households which had internet access increased to 90%, and which rose by 26 percent than in 2009 (64%) and Broadband internet access was used by 88% of the households in the EU-27 in 2019, which was 33 percent higher than in 2009 (55%). According to longitudinal research from the EC (Eurostat), European citizens are increasingly seeking health information online. In 2019, 54.9 percent of the survey respondents announced that they seeked health information online as compared to 46 per cent in 2015. As per the same source, in 2018, 17.3 per cent of people in Europe used the internet to book a healthcare appointment as compared to conly 10.1 per cent in 2014, however, the use of the internet to book appointments was highest in Denmark (41.24%) and lowest in Italy (9.14%). These developments are expected to have a positive effect on the market growth.
Scope of the Report
According to WHO, mHealth is a component of eHealth. The National Institutes of Health (NIH) defined mHealth as ‘the use of mobile and wireless devices (that includes cell phones, tablets, etc., patient monitoring devices, personal digital assistants (PDAs)) to improve health outcomes, health care services, and health research.’
The Mobile Health (mHealth) Market is segmented by Service Type (Monitoring Services, Diagnostic Services, Treatment Services, Wellness, and Fitness Solutions and Other Services), Device Type (Blood Glucose Monitors, Cardiac Monitors, Hemodynamic Monitors, Neurological Monitors, Respiratory Monitors, Body and Temperature Monitors, Remote Patient Monitoring Devices, and Other Device Types), Stake Holder (Mobile Operators, Healthcare Providers, Application/Content Players, and Other Stake Holders), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments.
|By Service Type|
|Wellness and Fitness Solutions|
|By Device Type|
|Blood Glucose Monitors|
|Body and Temperature Monitors|
|Remote Patient Monitoring Devices|
|Other Device Types|
|By Stake Holder|
|Other Stake Holders|
Key Market Trends
Remote Patient Monitoring Services are Expected to Show Better Growth in the Forecast Period
Mobile-Health for monitoring and collecting real-time patient data plays a critical role in the management of various vital parameters of the patients for better health outcomes. According to the research article published in International Conference on Computer Science, Engineering and Applications, 2020, IoT health wearable devices are used for collecting data from a patient in various living areas such as hospitals, homes, and work- stations.
By using the wearable device the patient information can be easily tracked and verified by the concerned doctor and ground the result analysis for Treatment services. If in case the patient abnormal condition is found in e-health Monitoring System (EHMS) analysis, the doctor has the possibility to take appropriate decisions based on the abnormal results. Treatment can be started immediately and relevant medication setups can be sent in an ambulance within less time to the patient.
Remote patient monitoring platforms helps to provide with various additional health-related services such as daily health alerts, doctor appointment, E-Health check-up reports, suggests food diet, and other benefits through SMS services. Consequently, hospitals can also customize EHMS applications altogether and provide the best suggestable EHealth services.
In Sep 2020, Abbott Laboratories received CE mark for its next-generation FreeStyle Libre 3 system, for use in people living with diabetes in Europe. The new FreeStyle Libre 3 technology helps to provide continuous, real-time glucose readings that are automatically delivered to smartphones every minute, thus providing unmatched 14-day accuracy.
In Dec 2020, Samsung received CE mark for its Samsung health Monitor App, which aid in monitoring blood pressure through pulse wave analysis, with the Heart Rate Monitoring sensors and also the ECG feature analyses the heart's electrical activity through a sensor by installing t he app in both phone and smartwatch.
Thus, owing to the increasing product approvals for continuous monitoring of vital parameters and the growing awareness on health management, the studied segment is expected to propel over the forecast period in Europe
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North America is Expected to Dominate the Mobile-Health (m-Health) Market
The North America region is expected to dominate the market during the forecast period. Healthcare in the North American region is experiencing positive trends, with the emergence of mobile health applications that help people to be active in personal health management. Smartphones and the presence of mobile technology make it possible to use both clinical and lifestyle applications, in order to help, educate, and change health behaviors. More people are now using mobile health applications.
The United States is likely to be the largest market in the region. According to the World Ageing 2019 report, estimated that in 2019 there were about 53.340 million (16.2%) population aged 65 years or over in the United States. This number is projected to reach 70.842 million (20.3%) in 2030. As the number of the elderly population is expected to increase soon and this population is more prone to chronic conditions such as diabetes, cardiovascular and other diseases which will show a positive impact on the market. The extensive consumer interest in, and adoption rate of, mobile health applications, such as wearable technology (bands and watches) that monitor and report throughout the day, is supporting the market growth by driving the digitalization, and converting conventional forms of healthcare management to connected and remote healthcare. Due to the outbreak of COVID-19 in the United States and lockdown situation, it is also important to maintain core and critical medical and public health services, the telemedicine services has widely increased in the country as per CDC which is significantly driving the market. As per American Academy of Family Physicians Fact sheet 2020, due to outbreak of COVID-19, the Centers for Medicare & Medicaid Services (CMS) has broadened access to Medicare telehealth services so that beneficiaries can receive a wider range of services from their doctors without having to travel to a healthcare facility. Moreover, the US government has initiated "telehealth and telemedicine tool Kit“ which provides three main types of virtual services physicians and other professionals can provide to Medicare such as "MEDICARE TELEHEALTH VISITS", "VIRTUAL CHECK-INS" and "E-VISITS". These developments are expected to boost market growth.
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The mobile-health (m-Health) market is at a growing stage and is moderately competitive. Market players are focusing on new product launches, such as basic cardiology and blood glucose monitors. Moreover, smartwatches, health monitors, pedometers and activity trackers are some of the trendy wearable devices launched by several companies. Furthermore, companies are focusing on industry collaborations, mergers, acquisitions, and partnerships in order to enhance their presence in the mHealth market. For instance, in November 2020, Cerner Corporation announced that it would be offering a new video care platform called the Video Visit program to its CommunityWorks clients.
In Feb 2021, Philips completed the acquisition of BioTelemetry, Inc., a leading United States-based provider of remote cardiac diagnostics and monitoring services.
In May 2020, the Dedalus Group announced that it had reached an agreement for the acquisition of the healthcare software solutions division of DXC Technology company.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Use of Smartphones, Tablets, Across the Globe
4.2.2 Increasing Focus on Personalized Medicine and Patient-Centered Approach
4.2.3 Increased Need of Point of Care Diagnosis and Treatment
4.3 Market Restraints
4.3.1 Data Security Issues
4.3.2 Stringent Regulatory Scenario for mHealth Applications
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Service Type
5.1.1 Monitoring Services
184.108.40.206 Independent Aging Solutions
220.127.116.11 Chronic Disease Management
18.104.22.168 Post Acute Care Services
5.1.2 Diagnostic Services
22.214.171.124 Self Diagnosis Services
126.96.36.199 Telemedicine Solutions
188.8.131.52 Medical Call centers manned by Healthcare Professionals
5.1.3 Treatment Services
184.108.40.206 Remote Patient Monitoring Services
5.1.4 Wellness and Fitness Solutions
5.1.5 Other Services
5.2 By Device Type
5.2.1 Blood Glucose Monitors
5.2.2 Cardiac Monitors
5.2.3 Hemodynamic Monitors
5.2.4 Neurological Monitors
5.2.5 Respiratory Monitors
5.2.6 Body and Temperature Monitors
5.2.7 Remote Patient Monitoring Devices
5.2.8 Other Device Types
5.3 By Stake Holder
5.3.1 Mobile Operators
5.3.2 Healthcare Providers
5.3.3 Application/Content Players
5.3.4 Other Stake Holders
5.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.4.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.4.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 Koninklijke Philips N.V.
6.1.3 Omron Corporation
6.1.4 Johnson & Johnson
6.1.5 Capsule Technologies, Inc.
6.1.6 AT&T Inc.
6.1.7 Cisco Systems, Inc.
6.1.8 Bayer AG
6.1.10 GE Healthcare Ltd.
6.1.11 Cerner Corp.
6.1.12 Allscripts Healthcare Solutions Inc.
6.1.13 Voxiva (Welltok)
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Mobile Health (mHealth) Market market is studied from 2018 - 2026.
What is the growth rate of Mobile Health (mHealth) Market?
The Mobile Health (mHealth) Market is growing at a CAGR of 20% over the next 5 years.
Which region has highest growth rate in Mobile Health (mHealth) Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Mobile Health (mHealth) Market?
North America holds highest share in 2020.
Who are the key players in Mobile Health (mHealth) Market?
- Medtronic PLC
- Cisco Systems, Inc.
- Koninklijke Philips N.V.
- Johnson & Johnson
Are the major companies operating in Mobile Health (mHealth) Market.