mHealth market is anticipated to grow at a significant CAGR of 9.5% during the forecast period (2024-2031). The market growth is attributed to the increased usage of digital health services for remote patient monitoring is driving up demand for mHealth apps. It is also expected that the proliferation of cell phones among adults and teenagers will propel the development of mHealth platforms and technology. According to the National Center for Biotechnology Information (NCBI), in December 2021, the total market size of mHealth applications globally was forecasted to reach nearly $100 billion in 2021. In the US, more than 60.0% of patients use mHealth applications and other digital devices to manage their health, while in China, the number of active users of the most popular mHealth applications was over 10.5 million in January 2020.

Market Dynamics

Innovations in Wearables, Internet of Things (IoT) Solutions, and Mobile Technologies

Innovations in wearables, mobile technology, and Internet of Things (IoT) solutions are driving the continued evolution of the mHealth industry. By enhancing the capabilities of customer-focused healthcare solutions and remote monitoring, these developments support individualized care and successful health outcomes. The development of mHealth has also been significantly influenced by wearable technology. Wearables were first only able to track fitness metrics, but they have since developed into effective instruments for tracking health and identifying diseases early on. Innovative wearables can monitor stress levels, sleep habits, heart rate variability, and even abnormalities in vital signs. Healthcare practitioners can get real-time insights into the health of their patients through the integration of wearable data with mHealth apps. This enables the creation of individualized treatment plans and preventive interventions.

Augmented Reality (AR) in Healthcare Elevating Patient Engagement

The use of augmented reality (AR) technology is a significant advancement in the field of mHealth. AR has created new opportunities in patient interaction, surgery, and medical education. Medical students may now examine intricate anatomical features and rehearse surgical operations in a virtual environment thanks to mHealth apps that use augmented reality (AR) to create immersive experiences. With the use of this technology, medical personnel can improve their accuracy and skill levels, which benefits patients.

Market Segmentation

• Based on the product, the market is segmented into medical devices and medical & healthcare applications.

• Based on medical devices, the market is segmented into blood glucose meters, blood pressure monitors, pulse oximetry, neurological monitoring devices, apnea and sleep monitoring devices, heart rate monitors, and wearable fitness sensor devices.

• Based on the medical & healthcare applications, the market is sub-segmented segmented into general health and fitness apps, chronic care management apps, medication management apps, and patient management & monitoring apps.

• Based on the service, the market is segmented into diagnosis services, monitoring services, prevention services, treatment services, and fitness and wellness services.

• Based on the application, the market is segmented into diabetes, respiratory diseases, neurological diseases, and cardiovascular diseases.

Medical & Healthcare Applications is Projected to Hold the Largest Segment

The primary factors supporting the growth include the expanding use of smartphones and the internet, as well as the growing number of patients and medical professionals using mHealth applications. Growth is also being fueled by the growing awareness of mHealth apps for uses including personal health record management, disease tracking, fitness & well-being, remote patient monitoring, and women's health, among others. Various healthcare AI platforms allow patients to accurately track their health with disease-specific tools, keeping doctors updated and ensuring medications are working properly, all in one place. For instance, in March 2024, Ubie introduced a checkup platform for patient self-monitoring, medication management, and improved provider communication. Routine patient-generated data can ensure patients stay on track, provide a comprehensive view of health, and provide critical information between provider visits. 

Diagnosis Services Segment to Hold a Considerable Market Share

The factors supporting segment growth include special qualities of wireless technology and the pressing need to change the way healthcare is delivered, patients can use mHealth for point-of-care diagnostics, illness screening, and treatment processes of ailments. Owing to technological advancements, patients now have access to a wider range of mHealth innovations, including follow-ups, appointment reminders, medication adherence, diagnostics, screening, and more. For instance, in April 2024, IIT Madras introduced India's first mobile Medical Devices Calibration Facility. The maintenance and quality assurance of life-saving medical devices are of paramount importance for healthcare delivery. Calibration is crucial as it ensures the accuracy of medical instruments for precise disease diagnosis and effectiveness. This facility is first-of-its-kind in India and is geared towards providing an affordable quality calibration facility and enabling accurate disease diagnosis and treatment.

Regional Outlook

Global mHealth market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America). 

Growing Demand for mHealth in Europe

• The regional growth is attributed to the growing variety of mHealth applications and services being introduced in Europe, with a primary focus on tracking individuals with chronic illnesses and supporting self-sufficient aging strategies. According to Eurostat, in January 2023, the estimated population of the EU was 448.8 million, with 21.3% of it aged 65 years and above. The aging population is expected to drive the demand for mHealth services in chronic care management, diagnostic solutions, and post-acute care management.

Global MHealth Market Growth by Region 2024-2031

North America Holds Major Market Share

The regional market growth is attributed to the presence of numerous players working in different fields, including software development, healthcare management, and mobile and network operations. Manufacturers are constructing network infrastructure, launching innovative healthcare apps, and boosting the uptake of diverse mHealth services in the US. The community's ability to access healthcare, irrespective of their location or financial standing, is greatly enhanced by the presence of mHealth clinics. By concentrating on illness management, early identification, and prevention. For instance, in August 2023, Regional Health Systems, a member of the Regional Care Group, celebrated the grand opening of its state-of-the-art mHealth clinic. The mHealth clinic represents an innovative approach to delivering comprehensive medical care, bringing essential services to neighborhoods and individuals who face barriers to accessing traditional healthcare facilities. Equipped with innovative technology and staffed by a dedicated team of healthcare professionals, the mHealth clinic offers a wide range of services, including primary care, dental care, and preventative screenings.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the mHealth market include Apple Inc., Boston Scientific Corp., General Electric Co., Medtronic Plc, and OMRON Corp. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. 

Recent Development

• In January 2023, CSL Behring, in global biotherapeutics, announced the expansion of its Hizentra app to Japan. CSL Behring’s Japanese app supports patients taking Hizentra with medication reminders, record management, infusion tracking, and more. The global expansion of the app is driven by significant adoption and high retention rates among users of the US Hizentra app.

The Report Covers

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the mHealth market. Based on the availability of data, information related to new products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.