MHealth Market Size to Hit $310 billion by 2027 | Exhibit a CAGR of 27.4% (2022-2027)

August 29 13:30 2022
MHealth Market Size to Hit $310 billion by 2027 | Exhibit a CAGR of 27.4% (2022-2027)
Market Research Reports, Business Consulting Services & Analytics

MHealth Market size is estimated to reach $310 billion by 2027, growing at a CAGR of 27.4% during the forecast period 2022-2027. Lengthening health responsiveness among people and augmented hazard of long-lasting sicknesses are set to drive the growth of the MHealth Industry for the period 2022-2027. Top players in this market are Apple, Google and Samsung Electronics Co.

MHealth Market size is estimated to reach $310 billion by 2027, growing at a CAGR of 27.4% during the forecast period 2022-2027. With expeditious technological progressions, many portable healthcare devices have come to the forefront such as Blood Glucose monitors, portable Bluetooth devices, heart monitors, patient monitors, and many more. These devices stockpile data and this data can be used by doctors in case of necessity while diagnosing the patient or prescribing a medication. The trend of health monitoring services is budding as these take care of individuals’ health in their eventful lives. Devices like SIMpill tape-record the time logs whenever medication is taken out of them and remind if on any given day patients forget to take the dose. The MHealth market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

 

Competitive Landscape:

The top 5 players in the MHealth industry are –

1. Biotelemetry

2. Airstrip technologies

3. SoftServe

4. Qualcomm

5. Telefonica S.A.

 

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Segmental Analysis:

1. The MHealth application segment held the largest share owing to the factors such as ascension in health awareness among people around the globe, elevating health benefits such as better metabolism, reduce various complications such as obesity.

2. The Intensive care segment held the largest share in 2021 owing to factors such as a convenient way of monitoring an individual’s health, the most affordable and effective alternative to extortionate health care procedures which most people can’t afford, shifting attitudes of people from treatment to prevention.

3. The Asia-pacific segment is estimated to be the fastest-growing over the forecast period 2022-2027. This growth is owing to shooting up chronic illnesses, the massive population of India and China, densely populated cities such Dhaka, Mumbai and many more Health Market Drivers, growing smartphone usage as the purchasing power of people in countries like Indonesia, India, Vietnam, and China is increasing. For example, in India close to 173 million units were shipped and recorded, which accumulates to YoY growth of 14%.

 

Report Coverage

Report Attributes

Details

By platform

MHealth applications, Wearable devices, Heart monitors

By Application

Intensive Care, Edification And Alertness, Diagnostic And Treatment, And Data Assortment

By End User

Patients, Government, Hospitals, Pharmacies, clinicians

By Geography

North America, Europe, Asia-Pacific, South America and Rest of World

 

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Market Drivers and Challenges:

1. Increasing awareness along with health illnesses are estimated to Drive Market Growth: People are becoming more health cognizant regarding their nutritional diet and exercise programs and adopting various contemporary techniques and procedures available in the market to handle them.

2. Shooting up smartphone usage is Expected to Boost Product Demand: With growing digitalization and technological breakthrough, these statistics are estimated to rise in foreseeable future.

3. Technical faults and data privacy issues are Anticipated to Hamper Market Growth: Even though MHealth trends are growing very swiftly but several factors are anticipated to cripple the progress of these platforms.

 

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Similar Reports:

A. Digital Health Market

https://www.industryarc.com/Report/16913/digital-health-market.html

B. Machine Health Monitoring Market

https://www.industryarc.com/Report/17157/machine-health-monitoring-market.html

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