The global mHealth market size is expected to reach USD 293.29 billion by 2026, exhibiting a CAGR of 29.1% during the forecast period. The increasing penetration of smart phones and smart devices will boost the mHealth market trends during the forecast period. According to Pew Research Center’s first survey of smart phone ownership conducted in 2011, 96% of Americans own a cell phone. Out of which ,81% of the American use smart phones. While roughly three-quarters of U.S. adultsown desktop or laptop computers, furthermore, the launch of technologically advanced smart phones and wearable devices will consequently aid the mHealth market share, sates our lead analysts at Fortune Business Insights. For instance, One Plus launched a new concept phone, the One Plus Concept One McLaren Edition has various features including electrochromic glass technology. In addition, Fitbit CEO James said in a statement, “We see ourselves evenly split between being a consumer company and being a health company.”
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The report covers :
o Global mHealth market trends, with detailed analysis on consumer trends & manufacturer trends.
o Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
o Key areas of investments identifying market opportunities and challenges in forecast timeframe.
o Competitive analysis of the industry players along with the overview on strategic management.
o Comprehensive company profiles of the major industry players.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of corona virus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this [Market].
Leading Players operating in the mHealth Market are :
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Fitbit, Inc.
- Apple Inc.
- Jawbone Health Hub, Inc.
- Omada Health, Inc.
- BioTelemetry, Inc.
- Livongo Health
Growing Geriatric Population to Spur Business Opportunities for the Market
The increasing demand for mHealth solutions around the globe, owing to its user-friendly benefits and high calling efficiency in handling an emergency situation, will aid the mHealth market revenue in the forthcoming years. The increasing number of mHealth applications such as chronic disease management, remote monitoring owing to its cost-effective advantage will further fuel demand for mHealth solutions in the foreseeable future. The growing geriatric population will also contribute positively to the growth of the market. For instance, people above the age of 65, are more prone to chronic ailments; in the U.S., 40 million people, i.e., around 12.9% of the population is above 65 years. Thus, there is a colossal scope for the mHealth market in the countries where the geriatric population is surging.
Rising Prevalence of Cardiovascular Diseases to Bolster Growth in Europe
Europe held significant share in 2018 and is expected to grow rapidly during the forecast period. The increasing cases of cardiovascular health diseases and diabetes will enable speedy growth of the market in Europe. The rising demand for remote patient monitoring for people deprived of basic medical facilities due to geographical barriers will further create new sales opportunities for the market in Europe. The mHealth market size in North America stood at USD 10.20 billion in 2018 and is expected to witness significant growth in the forthcoming years. The presence of key players will boost the mHealth market trends in North America. Additionally, the increasing burden of chronic diseases across the U.S will further propel the growth of the market in North America.
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