Market Definition:
The MHealth Market was valued at USD 112.3 Billion in 2022 and it is anticipated to grow up to USD 209.4 Billion by 2032 at a CAGR of 6.4% during the forecast period.
mHealth is defined as a separate branch of eHealth, which deals with the collection of patient data. This patient data is collected through wireless electronic means such as cell phones, wearable and other mHealth devices. In addition, the collected patient data is stored in the cloud remotely using mHealth application. This stored data is made available to healthcare professionals for the purpose of analyzing health-related parameters. For example, the mHealth Blood Pressure Monitor collects data related to patient BP fluctuations. These values are immediately checked by healthcare professionals to determine the severity of the condition. In addition, various types of medical devices and services are available in the market. For example, blood glucose monitor, BP monitor, pulse oximetry, neurological monitoring, heart monitor, apnea and sleep monitor, and others.
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Market Outlook:
The rising focus on improving personal health and fitness using smart devices and wearables is the major factor accelerating market growth. Besides, increasing penetration of the internet and smartphones and growing adoption of mHealth technology and platforms by physicians and patients are also anticipated to propel market growth. Furthermore, the rising penetration of digital health services for remote patient monitoring is also increasing the demand for mobile health apps, which in turn is expected to propel market growth over the forecast years. In addition, the increasing use of smartphones among the adult population and teenagers is also anticipated to drive the growth of mHealth platforms and technologies in the upcoming years. Moreover, the shift in trend from conventional healthcare practices to patient-centric and preventive approaches is also anticipated to drive the market for mHealth over the years. The high preference for mobile medical platforms and the positive attitude of healthcare professionals toward real-time patient care are also likely to accelerate the growth of the market during the forecast years.
Market Restraints and Challenges
Privacy and data security concerns are some of the factors anticipated to hamper the adoption of mHealth technologies. Data accessibility issues, configuration changes, data breaches, and the leakage of sensitive health information are the concerns expected to impede market growth. For example, in 2019, the personal and medical data of about 24.4 million people was leaked by the American Medical Collection Agency (AMCA), a medical bill collector for several companies. However, this type of restraint is expected to reduce during forecast periods with the government imposing stringent regulations on the market players regarding data privacy.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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MHealth Market Segmental Overview
The report analyses the mHealth Market based on product & Services, end-user, and region.
Major Players in the MHealth Market
The key players in the market are AgaMatrix, Inc. (US), AIRSTRIP TECHNOLOGIES, INC. (US), Apple Inc. (US), AT&T Inc. (US), athenahealth, Inc. (US), iHealth Labs, Inc. (US), Koninklijke Philips N.V. (Netherlands), Medtronic (US), OMRON HEALTHCARE Co., Ltd. (Japan), and TrueCare24, Inc. (US).
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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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