PUBLISHER: Orion Market Research | PRODUCT CODE: 1078119
PUBLISHER: Orion Market Research | PRODUCT CODE: 1078119
Global mHealth Market Size, Share & Trends Analysis Report By Product (Medical Devices (Types), Medical & Healthcare Application), by Service (Diagnosis Services, Monitoring Services, Prevention Services, Treatment Services and, Fitness And Wellness Services) and by Application (Diabetes, Respiratory Diseases, Neurological Diseases, and Cardiovascular Diseases) Forecast Period (2022-2028)
The global mHealth market is anticipated to grow at a substantial CAGR of 9.5% during the forecast period. The shifting trend toward patient-centric and preventive approaches from conventional healthcare practices is excepted to drive the market for mHealth. Moreover, the growing preference for mobile medical platforms and the attitude of healthcare professionals is changing, and redirecting towards real-time patient care is also likely to augment the growth of the market. For instance, in May 2020, UAE firm MyMedicNow launched a new app to bridge the gap between patients and doctors and it helps patients search for medical conditions and find related local healthcare providers quickly and efficiently.
The mHealth is segmented on the basis of product, services, and application. Based on product, the market is segmented into medical devices (types), and medical & healthcare applications. On the basis of services, the market is sub-divided into diagnosis services, monitoring services, prevention services, treatment services, and, fitness and wellness services. Furthermore, based on application, the market is sub-classified into diabetes, respiratory diseases, neurological diseases, and cardiovascular diseases. Among the service segment, the diagnosis services sub-segment is anticipated to fastest growing due to the increased number of applications and platforms that can diagnose and increase health consciousness. In addition, the rising demand for workflow efficiency and effective healthcare administration are factors that drive the segmental growth in the market.
Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. North America is holding a prominent share in the mHealth market attributed to its well-developed healthcare infrastructure and rising geriatric population. Moreover, the high adoption rate of innovative technologies, rising incidences of chronic diseases, and growing awareness among the population regarding their health are factors for the region's dominance in the market. Furthermore, the presence of major key players companies in the region and favorable government initiatives, and the growing adoption of the mHealth app are the major factors backing the growth of the market. For instance, in April 2021, The American Health Information Management Association(AHIMA), launched the mHealth Resource, Assessment Tool, with a resource site and assessment standards for digital health companies. It has developed the AHIMA health site that offers resources for healthcare providers on digital health products, including privacy and data security practices and policies.
The competitive landscape includes key strategies of leading players, recent developments, and key company analysis. The major players that contribute to the growth of the market include Analog Apple Inc., Boston Scientific Corp., Cerner Corp., Cisco Systems Inc., General Electric Co., Medtronic Plc, OMRON Corp., and many others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, In September 2021, Mount Sinai Health System launched a new mHealth app to improve patient data access, enhance patient-provider communication, and create a centralized platform for all patient healthcare needs. The new app MyMountSinai app allows patients to continue to access lab results and health records, pay bills, request prescription refills, book and check in for appointments, and attend video visits with their providers through the mHealth app.
Research Methodology
The market study of the global mHealth market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report provides an in-depth analysis of the market size, and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation
The Report Covers
Category -Medical Devices