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The growing infiltration for smartphone and internet connectivity in emerging nations is driving the growth of the market.
— Emergen Research
VANCOUVER, BC, UNITED STATES, May 19, 2022 /EINPresswire.com/ —
The Global mHealth Market is forecasted to be worth USD 361.67 Billion by 2027, according to a current analysis by Emergen Research.
The mHealth market has experienced an increase in demand in the past couple of years, due to the surge in the prevalence of smartphones and the advent of advanced technologies in the medical industry. Digital health has emerged as a triumphant venture, attracting several organizations and industries from outside the healthcare domain. Applications on mobile help people in managing their own health, have access to necessary information wherever and whenever required, and promote healthy living. These technologies are being rapidly adopted, which is promoting their development. The advent of advanced technologies has revolutionized the industry for healthcare. Increased investments in health start-ups have also gained momentum, which has further propelled the demand for the market. New entrants to the industry are coming up with innovative ideas to make these apps more customer-friendly and are trying to tap into ample growth opportunities.
Ineffective communication between doctors and patients is among the biggest cause of errors in the medical sector. mHealth mobile apps are held with these issues. They provide point-of-care tools in the devices and allow for effective communication, better clinical decision-making, and improve patient outcomes.
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The Global mHealth Market report contains historical, current, and forecast estimation of the revenue generation and profits for each segment and sub-segment of the mHealth Market in each key region of the world. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market.
Key participants include mQure, AT&T, Allscripts Healthcare Solutions, Omron Healthcare Inc., Apple Inc., Samsung Electronics Corporation, Bayer Healthcare, Philips Healthcare, Cardionet Inc., and LifeWatch AG, among others.
Key Highlights from the Report
In September 2020, The University of California and eight other digital health companies will receive approximately USD 23 million in federal funding. The funding is for the development of mHealth and telehealth platforms that address the SARS-COV-2 pandemic.
mHealth helps healthcare providers move seamlessly between patients without having to go back to a work station or office. The use of these apps among patients is estimated to grow at a CAGR of 32.9% during the forecast period.
Modern technology has helped in the development of methods and tools to enable people to stay in shape and also maintain a healthy lifestyle. With people becoming more aware of the benefits of exercise and diet, wearable technology and fitness apps are becoming highly popular. Wearable devices are forecast to grow at a CAGR of 32.5% during the forecast period.
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The report is an investigative study of the technological developments and product advancements, along with a regional analysis for each product and application offered in the market. The fundamental objective of the report is to give an insight into the workings of the MHealth industry. It provides an accurate and strategic outlook of the market with a thorough assessment of the segments and sub-segments of the market. It provides a panoramic view of the industry to offer a deeper understanding of the global industry.
For the purpose of this report, Emergen Research has segmented the Global mHealth Market on the basis of platform, application, end-use, and region:
Platform Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Education and Awareness
Disease and Epidemic Outbreak Tracking
Communication and Training
Diagnostics and Treatment
Remote Data Collection
End-Use Outlook (Revenue, USD Billion; 2017-2027)
The complete regional analysis covers:
North America (U.S., Canada, Mexico
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report offers a comprehensive understanding of the impact of the COVID-19 pandemic on the overall market growth and expansion. COVID-19 has affected the global economy by interfering with production and demand, causing market disruption, and inducing financial instability.
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Key Highlights from the Report
There is a consequential increase in the number of diabetic patients across the globe, which is boosting the adoption of a remote monitoring app, such as Glooko, for patients who suffer from diabetes. Remote monitoring held a significant market share in the year 2019.
The recently developed mHealth is the most effective and globally accepted technology that aids patients across the world, especially in the Asia Pacific region. Unchecked population in China and India and an increase in the geriatric population in countries such as Japan and Singapore are factors influencing the market.
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mHealth Market Size Worth USD 361.67 Billion by 2027