Mobile Health (mHealth) Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The mobile health mHealth market has witnessed substantial growth in recent years and is projected to escalate from $72.69 billion in 2023 to $84.99 billion in 2024, at a compound annual growth rate CAGR of 16.9%. Factors contributing to this substantial growth include the rising adoption of smartphones, significant development of mHealth solutions, escalating incidence of chronic diseases, increasing demand for remote monitoring and management solutions, and increasing promotion of digital health and telemedicine initiatives.

What's The Future Projection For The Mobile Health mHealth Market?

Looking ahead, the mobile health mHealth market is forecasted to show even more rapid growth. The market size is expected to accelerate to $159.66 billion by 2028, sustaining a compound annual growth rate CAGR of 17.1%. The growth over the forecast period could be attributed to an increasing preference for at-home care solutions, the incorporation of AI and machine learning, faster and more reliable connections enabled by 5G technology, and greater awareness of health and wellness. An increase in the usage of fitness apps and wearable devices will also likely contribute to this growth.

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How Are Chronic Diseases Driving The Growth Of The Mobile Health mHealth Market?

A key driver for mobile health mHealth market growth is the rising incidence of chronic diseases. Chronic diseases are health conditions that are long-lasting, usually persisting for a year or more and often necessitating ongoing medical attention or limiting daily activities. The surge in chronic diseases largely correlates with aging populations, with longer life spans resulting in more health conditions that last for extended periods. Mobile health facilitates the management of chronic diseases by providing health monitoring tools, enhancing communication with doctors, and promoting adherence to treatment regimens.

For instance, in June 2024, the UK-based National Health Service reported that 3,615,330 people registered with a GP had been diagnosed with non-diabetic hyperglycemia—also known as pre-diabetes—in 2023, compared to 3,065,825 in 2022—an increase of nearly 18%. As such, the escalating prevalence of chronic diseases is a significant factor propelling growth in the mobile health mHealth market.

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What Are Some Key Industry Players in the Mobile Health mHealth Market?
Major players in the mobile health mHealth market include Apple Inc., Samsung Group, Huawei Technologies Co. Ltd., Oracle Corporation, Abbott Laboratories, Xiaomi Corporation, Medtronic plc, Koninklijke Philips N.V., Stryker Corporation, GE HealthCare Technologies, Omron Corporation, Garmin Ltd., Hill-Rom Holdings Inc., Dexcom Inc., Masimo Corporation, Nihon Kohden Corporation, Polar Electro Oy, Verily Life Sciences LLC, Withings S.A.S., Empatica Inc., TempTraq, and LifeSense Group B.V.

What Are The Emerging Trends In Mobile Health mHealth Market?
A notable emerging trend amongst major companies operating in the mobile health mHealth market is the development of whole-person care digital apps. These apps integrate physical, mental, and emotional health services, providing comprehensive and personalized healthcare solutions. For instance, in January 2023, US-based healthcare company Teladoc Health launched a fully integrated digital health app, enabling users to access primary care, mental health services, and manage chronic conditions, all through a single account.

How Is The Mobile Health mHealth Market Segmented?
The mobile health mHealth market report covers various segments —

1 By Type: Mobile Health mHealth Devices, Mobile Health mHealth Services
2 By Application: Cardiovascular, Diabetes, Respiratory, Neurology, Other Applications
3 By End-Use: Patients, Providers, Payers, Other End Users

Which Regions Hold the Largest Share in Mobile Health mHealth Market?
In terms of regional insights, North America had the lion's share in the mobile health mHealth market in 2023. However, Asia-Pacific is set to be the fastest-growing region over the course of the forecast period. The regions covered in the mobile health mHealth market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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