mHealth Market Information, By Therapeutics (respiratory, mental and neurological disorders, fitness & lifestyle) Application (monitoring)- Forecast to 2030

NEW YORK CITY, NEW YORK, USA, April 20, 2023/EINPresswire.com/ -- The mobile health market, also known as mHealth, refers to the use of mobile devices such as smartphones, tablets, and wearables to deliver healthcare services and information. It is a rapidly growing field with enormous potential to improve healthcare access, outcomes, and cost-effectiveness.

MHealth Market Size was valued at USD 58.2 billion in 2022. The mHealth market industry is projected to grow from USD 64.8 Billion in 2023 to USD 123.1 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.30% during the forecast period (2023 - 2030). The growth is attributed to various factors, such as the increasing adoption of smartphones and tablets, the growing demand for remote patient monitoring, and the need for cost-effective healthcare solutions.

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Key Players

Some of the major players in the market include Apple Inc., Google Inc., Fitbit, Inc., Samsung Electronics Co., Ltd., and Medtronic plc.

Market Segmentation

The mobile health market can be segmented based on various factors, such as application, end-user, and region.

Based on application: Fitness and wellness apps, Medical reference and education apps, Remote monitoring and consultation apps, Medication management apps, Others

Based on end-user: Patients, Healthcare providers, Payers, Employers, Others

Based on region: North America, Europe, Asia-Pacific, Middle East and Africa, Latin America

The fitness and wellness apps segment is expected to hold the largest share of the mobile health market, owing to the increasing adoption of mobile health apps for maintaining fitness and wellness. The remote monitoring and consultation apps segment is also expected to witness significant growth due to the growing demand for remote healthcare services.

Based on end-users, the patients segment is expected to dominate the market, as patients are increasingly using mobile health apps to manage their health and receive personalized healthcare services. The healthcare providers segment is also expected to witness substantial growth due to the increasing adoption of mobile health apps by healthcare providers to improve patient care and streamline their workflow.

North America and Europe are expected to hold the largest share of the mobile health market due to the high adoption of mobile devices and favorable government initiatives to promote mHealth services. The Asia-Pacific and Middle East and Africa regions are also expected to witness substantial growth in the coming years due to the increasing adoption of mobile devices and rising healthcare spending in these regions.

Regional Analysis

The mobile health market is experiencing significant growth across various regions globally, with North America and Europe being the largest markets. Asia-Pacific and the Middle East and Africa regions are also expected to witness substantial growth in the coming years.

North America dominates the global mobile health market due to the high adoption of smartphones, tablets, and wearable devices, as well as favorable government initiatives to promote mHealth services. The increasing demand for personalized healthcare, rising prevalence of chronic diseases, and the need for cost-effective healthcare solutions are also driving the growth of the market in this region.

Europe is the second-largest market for mobile health, with increasing government initiatives and growing awareness among patients and healthcare providers about the benefits of mHealth. The increasing prevalence of chronic diseases, aging population, and shortage of healthcare professionals are some of the major factors driving the growth of the market in this region.

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The Asia-Pacific region is expected to witness significant growth in the mobile health market due to the increasing adoption of smartphones, growing internet penetration, and increasing healthcare spending in countries such as China, India, and Japan. The rising prevalence of chronic diseases and the need for remote patient monitoring and consultation services are also expected to drive the growth of the market in this region.

The Middle East and Africa region are also expected to witness substantial growth in the mobile health market due to increasing government initiatives, rising healthcare expenditure, and the need for improved healthcare infrastructure. However, the market growth in this region may be hindered by factors such as the low penetration of smartphones and lack of healthcare professionals.

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