MHealth Solutions Market Set to Reach Valuation of USD 1,952.9 Billion with growing CAGR of 50.0% by 2029, Size, Share, Demand, Future Growth and Key Players Outlook
VANCOUVER, BC, Oct. 13, 2022 /PRNewswire/ -- Data Bridge Market Research has recently published a report, titled, "Global MHealth Solutions Market". The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. In this MHealth Solutions market research report, industry trends are put together on macro level with which clients can figure out market landscape and possible future issues about MHealth Solutions industry. A team of innovative analysts, research experts, statisticians, forecasters and economists work strictly to present this advanced and all-inclusive market research report. This market research report also covers strategic profiling of major players in the market, meticulously analyzing their core competencies, and drawing a competitive landscape for the market. To achieve the desired success in business, this MHealth Solutions market report plays a key role.
Data Bridge Market Research analyses that the mobile health (mhealth) solutions market was valued at USD 50.8 billion in 2021 and is expected to reach USD 1,952.9 billion by 2029, registering a CAGR of 50.0% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Growing adoption of smart devices coupled with high internet penetration
Moreover, the rising adoption of smart devices coupled with high internet penetration will benefit mobile health (mhealth) solutions market growth. Nearly half of all adults and teenagers in the United States are expected to own a tablet by 2021, which might expand the use of mhealth apps to access healthcare services from residence. Non-communicable illnesses claim the lives of 41 million people each year, accounting for 71 percent of all fatalities worldwide, according to the WHO. This significant illness burden is expected to contribute to the growing use of mobile technologies for disease management success over the world.
Moreover, rise in the adoption of artificial intelligence and 5G and increasing number of emerging markets will further provide beneficial opportunities for the mobile health (mhealth) solutions market growth during the forecast period.
The mobile health (mhealth) solutions market is estimated to increase rapidly over the forecast period. Mhealth, according to the World Health Organization, is "the use of mobile and wireless technology to promote the attainment of health objectives." Mobile health (mhealth) solutions have been witnessing high demand in the healthcare industry due to rising ownership of gadgets and development in technology. Currently, more than 325,000 mhealth apps and the number are increasing along with the integration of novel technologies. Hence, these are the contributing factors that led to the introduction of mobile health (mhealth) solutions in the market.
The term mobile health (mhealth) refers to the use of mobile phones in the practice of medicine and public health. The use of mobile phones to educate consumers about preventive healthcare services and the management, storage, and assessment of data is an illustration of mhealth. Mhealth is the use of mobile devices such as cell phones, iPads, tablets, and wireless infrastructure to improve public health and medicine.
Some of the major players operating in the MHealth Solutions market are:
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The Primary Objectives of This Global Market Research Report Are as Follows:
Market Dynamics: MHealth Solutions Market
According to the World Health Organization (WHO), roughly 17.9 million people died from CVDs in 2019, accounting for 32 percent of all deaths globally, with heart attacks and strokes accounting for 85 percent of these deaths. In light of WHO's accompanying statistics, mobile health wearable advancements are true game changers. Mobile health (mhealth) solutions market demand will be driven by such mobile health advances throughout the projected period.
Performing surgery on the human body is a difficult procedure. At the moment, however, a mix of wearables is supporting surgeons in performing even the most intricate surgery with precision. During the projected period, the wearable trend in mobile health (mhealth apps) will boost the growth of the mobile health (mhealth) solutions market.
Furthermore, the lack of standards and administrations and capacity of repayments will act as a major factor influencing the growth of mobile health (mhealth) solutions market. Along with this, restricted guidance from physicians in choosing apps and struggle from traditional healthcare providers are the driving factors accelerating the growth of the mobile health (mhealth) solutions market. Also, the rise in the prevalence of lifestyle diseases and increasing expenditre on healthcare infrastructure are the major market drivers that will further escalate the growth of mobile health (mhealth) solutions market.
The dearth of standards and regulations
However, the lack of standards and regulations will impede the mobile health (mhealth) solutions market's growth rate. Along with this, an unfavorable reimbursement scenario will act as major market restrain and hamper the market's growth rate.
Mobile design improvements may necessitate consideration of mobile health (mhealth) usability issues. These obstacles can be as simple as the size of a cell phone screen, the text size or type on that screen, or a person's ability to use a cell phone for purposes other than making phone calls.
On the other hand, the dearth of data security resulting in rising concern about data theft and healthcare fraud will challenge the market for mhealth solutions. Additionally, patent protection for mhealth devices and applications will restrain and further hinder the growth rate of the market. Also, limited guidance from physicians and lack of awareness will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
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Key Industry Segmentation: MHealth Solutions Market
Regional Analysis/Insights: MHealth Solutions Market
The countries covered in the mobile health (mhealth) solutions market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the mobile health (mhealth) solutions market because of the increasing use of mhealth intervention for healthcare needs and presence of advanced healthcare IT infrastructure in this region. Additionally, an increasing level of investments in digital health sectors and rising burden of chronic diseases will flourish the market's growth rate in this region.
North America is expected to grow during the forecast period due to the rising acceptance of digital technologies and increasing consciousness about combined care in this region. Along with this, the high seepage of internet and smartphones and use of medical or health-related apps will flourish the market's growth rate in this region.
Table of Contents:
2. Market Segmentation
3. Executive Summary
4. Premium Insights
5. Global MHealth Solutions Market: Regulations
6. Market Overview
7. Global MHealth Solutions Market, By Connected Devices
8. Global MHealth Solutions Market, By Apps
9. Global MHealth Solutions Market, By Services
10. Global MHealth Solutions Market, By Region
11. Global MHealth Solutions Market: Company Landscape
12. SWOT Analyses
13. Company Profile
15. Related Reports
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