Global mHealth Solutions Market to grow at 34.1% CAGR through 2026

June 01, 2020

According to the research report titled ‘Global MHealth Solutions Market Size study, by Product & Devices (Connected Medical Devices, Consumer Health Devices, Healthcare Applications (General & Fitness Applications), mhealth services (Remote Monitoring Services, Diagnosis & Consultation Services, Treatment Services, Healthcare System Strengthening Services, Fitness & Wellness Services, Prevention Services) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global mHealth solutions market was worth USD 43.7 billion in the year 2019 and is expected to register a growth rate of 34.1% during 2020-2026.

For the record, mHealth solutions are used with healthcare information and applications which can be offered on patients’ mobile devices by healthcare and medical experts.

Rising penetration of smartphones across the globe is a prime factor augmenting the demand for mHealth solutions, cites the market research report. For instance, smartphone shipments in China recorded 467 million units in 2016, which accounted for 31.8% of global smartphone shipments. However, lack of awareness pertaining to mHealth solutions may hinder the market growth in the approaching years.

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As per product & devices, the market is split into mHealth services, healthcare applications, consumer health devices and connected medical devices. MHealth services are further classified into prevention services, fitness & wellness services, healthcare system strengthening services, treatment services, diagnosis & consultation services and remote monitoring services.

Citing the regional scope, the North America mHealth solutions industry is presumed to expand substantially during the forecast period. Increased pervasiveness of chronic conditions and rising adoption of connected devices are increasing the revenue in North America. On the other hand, the Asia-Pacific mHealth solutions market is poised to accumulate commendable returns in the ensuing years, primarily due to rising adoption of smartphones and increasing penetration of 3G and 4G services.

The prominent companies operating in global mHealth solutions market are AT&T Inc., Airstrip Technologies, Nokia Corp., Omron Corp., Johnson & Johnson, Apple Inc., Koninklijke Philips N.V., Athenahealth Corp., Medtronic PLC, and Cerner Corp. among others.

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