Global mHealth Market growth to reach USD 102.43 Billion by 2022

According to the report, the global mHealth market was valued at USD 11.47 billion in 2014 and is expected to reach USD 102.43 billion by 2022, growing at a CAGR of at 32.5% between 2016 and 2022.

mHealth uses mobile and communication technologies in order to provide effective, safe, and affordable healthcare services through mobile such as mobile phones, PDA, tablet computers and wireless devices. mHealth technology captures real-time health information and helps in monitoring and diagnosis of diseases in remote locations. mHealth is an attractive solution that leverages the ability of mobile devices to address the prevalent problem of access to health care and rising costs.

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Based on the device, the mHealth market has been segmented into pulse oximeters, multi-parameter trackers, blood glucose meters, sleep & apnea monitor, wearable fitness sensor device, neurological monitoring device, heart rate meters, blood pressure monitors, ECG monitors, cardiac monitors, peak flow meters and others. The market of blood pressure monitors emerged as the major segment in mHealth market and it accounted for over 20% share of total revenue generated in 2014. Mobile blood pressure monitors are becoming popular and usually occurs without physician encouragement. Moreover, blood glucose meter was the second largest segment and is expected to grow at a CAGR of 33.3 % during the forecast period.

By stakeholders, the market can be segmented into healthcare providers, mobile operators, application players, device vendors and others. Mobile operator was the leading segment and it held 25.8% share of the overall market in 2014. Mobile operators are shifting to solutions that connect the different stakeholders in the healthcare system to the patients to provide fully integrated care.

The mHealth market has been segmented on the basis of different services such as treatment service, monitoring services, wellness services, diagnosis service, prevention services, healthcare system strengthening services and another service. By therapeutics, the market can be segmented into neurology, diabetes, cardiovascular, respiratory and others. Monitoring services accounted for over 34% share of the total market in 2014. The diagnosis & consultation service was the second largest segment for the global mHealth market. Diagnosis services allow healthcare professionals to connect with patients distantly. Diagnosis services consist of mobile telemedicine services and IVR-based services or call center services.

Neurology, diabetes, cardiovascular, respiratory and others are some of the key therapeutics segments in the market. Diabetes was the leading segment and it accounted for over 29% share of total revenue generated in 2014. The increasing prevalence of diabetes coupled with health awareness is expected to drive the growth of this segment in the near future. Cardiovascular is another key outlet of this market and is expected to witness exponential growth within the forecast period.

The mHealth market has been segmented on the basis of different applications such as chronic care management apps, medical apps, women’s health apps, and medication management, personal health record (PHR) apps, healthcare and fitness apps and others. Chronic care management apps include blood pressure & ECG monitoring apps, cancer management apps, diabetes management apps, mental health and behavioral disorder management apps and others. Healthcare and fitness apps are anticipated to show witness fastest growth in the years to come.

Geographically, North America dominated the mHealth with over 30% share in terms of revenue for the year 2014 followed by Europe and Asia-Pacific region. The dominance of North America is expected to be maintained in the years to come on account due to increased mHealth adoption rate. Europe was the second largest regional market and is expected to show strong growth in the years to come. The Asia Pacific region also exhibited the highest growth rate. This growth is mainly due to rise government initiatives and growing geriatric population in this region.

Some of the major participants in global AT&T, Inc. (U.S.), Athenahealth, Inc. (U.S.), BioTelemetry, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Sanofi S.A. (France), Johnson & Johnson (U.S.), Philips N.V. (Netherlands), Apple, Inc. (U.S.), AirStrip Technologies Inc. (U.S.), LifeWatch AG (Switzerland), Nike Inc. (U.S.) Cerner Corporation (U.S.), Medtronic, Inc. (U.S.) and Omron Healthcare (Japan).

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