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  • 12 November 2019 23:30

mHealth Market: Recent Development and Innovations

With digitization successfully penetrating in the healthcare sector, the global mHealth market is expected to rise at an impressive 26.1% CAGR between 2018 and 2026.

The report offers insights into prevailing mHealth market trends. Besides this, it highlights growth opportunities across the world and identifies the segments offering the most lucrative prospects for growth. The report includes information obtained from trusted industrial sources. In addition to this, it reveals the growth strategies undertaken by leading companies in the market. It therefore profiles some of the leading market players and gauges the impact of their expansion strategies on the overall mHealth market. It is intended to help stakeholders gain a comprehensive overview of the global market.

Rising Demand for Digital Health Technologies to Boost Growth

It is important to note that mHealth is one of the most widely adopted digital health technologies across the world. In fact the market is predicted to exhibit a double-digit growth during the course of the report's forecast period. Factors such as the rising internet penetration and increasing incidence of chronic ailments such as diabetes and cardiovascular diseases will support the mHealth market growth in the coming years. Considering this, the rising demand for smartphones and improving accessibility to digital technologies will prove a boon to the market.

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As per the statistics published in one of the recent studies conducted by GSM Association, the number of users connected via mobile services surpassed five billion in 2017. Furthermore, the pool of unique mobile subscribers is likely to exponentially rise, reaching 5.9 billion by the end of 2025. This coupled with funding towards mHealth start-ups and skyrocketing demand for preventive healthcare will boost the market in the near future.

Government Support Expected to Encourage Growth in Coming Years

In addition to the penetration of digital technologies, government support to encourage digitization in healthcare sector will bode well for the overall market. Besides this, economic factors such as the rising geriatric population, increasing prevalence of chronic ailments, and increasing willingness to spend on advanced healthcare will boost the global mHealth market in the coming years.

In order to provide in-depth study, the report segments the global market in terms of three main parameters. These include region, service, and participants. In terms of service, the global mHealth market can be segmented into diagnosis services, monitoring services, services to strengthen healthcare systems and others. The monitoring services segment can be further classified into chronic disease management, independent aging solutions, and post-acute care services. The report offers detailed information on the drivers and restraints impacting the growth of this market across each of the aforementioned segments.

Europe captures the largest revenue share at 35.0% and will continue to retain its dominance position over the forthcoming years

In 2018, Europe was generating highest revenue in the global mhealth market

Asia Pacific is anticipated to showcase the highest CAGR of 27.0% over the forthcoming years

Key Players Analysis

Besides highlighting prevailing trends, the report profiles some of the leading players operating in the market. These include Vodafone Group, Apple Inc., AllScripts Healthcare Solutions, AirStrip Technologies, mQure, Qualcomm Inc., Softserve, Orange, Telefonica, Samsung Electronics, Google Inc., and AT&T. Besides investing in product launches, these companies are focusing on strategic collaborations to expand their footprint globally.

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