PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418741
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1418741
Global MHealth Services Market is valued at approximately USD 50.06 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 14.7% over the forecast period 2023-2030. MHealth, or mobile health, is the application of public health and medical practices using mobile devices such as mobile phones, personal digital assistants, tablets, and wireless networks. Under the broader umbrella of digital health, mHealth incorporates the utilization of multimedia and telecommunications technologies for the dissemination of health-related information. Its applications span a variety of areas, including education and awareness, diagnostic and treatment support, healthcare supply chain management, remote monitoring, chronic disease management, and more. MHealth services involve integrating the capabilities of mobile devices such as smartphones and tablets to provide healthcare services and information. This integration of mobile technology aims to improve the accessibility, efficiency, and effectiveness of healthcare delivery. It encompasses a diverse array of applications and services tailored to support different facets of healthcare, ranging from facilitating patient communication and education to enabling remote monitoring and diagnostics. The market is poised for growth due to several factors, including an increased emphasis on leveraging smart devices and wearables for enhancing personal health and fitness. The strong penetration of 4G and 5G networks and the imperative of cost containment in healthcare delivery, coupled with the growing acceptance of mHealth technology by both healthcare providers and patients are the most prominent factors that are propelling the market demand across the globe.
Additionally, the widespread use of smartphones and other mobile platforms is anticipated to further fuel market expansion. According to Statista, the number of users of smartphones in the year 2019 was 287.76 million and the number of users is likely to reach 301.65 million by 2022. Also, as per the same source, in 2020, the shipments of a 5G-enabled smartphone were estimated to record 20% globally, which is anticipated to constantly rise and is likely to reach 69% by the year 2023. Therefore, the escalating demand for the 5G-enabled smartphone is exhibiting a positive influence on the growth of the market. Moreover, the growing investment and rising penetration of digital health services, as well as the rising global burden of chronic disease presents various lucrative opportunities over the forecast years. However, the lack of standardization and the risk of cyberattacks are hindering the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global MHealth Services Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the escalating healthcare expenditure, a surge in chronic diseases, a growing aging population, and a well-established network infrastructure, the demand for mHealth services in the region is on the rise. Furthermore, favorable government initiatives, an increase in FDA approvals for wearable devices, and the widespread adoption of mobile healthcare applications are further propelling the demand for mHealth services in the region. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The growing affordability of smartphones is driving increased adoption, enabling access to diverse applications for mHealth services. Factors such as the rise in healthcare expenditure, a surge in chronic and infectious diseases, inefficiencies in hospital service management, and an aging population are compelling governments and healthcare providers to innovate new healthcare delivery models are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable.