Explosive Growth Predicted for mHealth Solutions Market: Projected to Surge from $127.9 Billion in 2023 to $1.37 Trillion by 2033

The mHealth solutions market is expected to increase from US$ 1,27,865.0 million in 2023 to US$ 13,73,865.50 million by 2033, expanding at a CAGR of 26.8%

mHealth involves the use of mobile devices such as tablets, cell phones, and iPads to improve public health. Nowadays, consumers are well-educated about preventive healthcare services through mHealth apps.

Increasing usage of mobile devices and wireless technology for promoting the attainment of health objectives drives the market growth. Moreover, the development in technology and increasing preference towards using preventive healthcare services is fueling the demand for mHealth solutions in the healthcare industry.

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Mobile health advances during the forecast period are estimated to propel the mHealth solutions market. Additionally, the wearable trend in mHealth apps is likely to drive the mHealth market for mHealth solutions.

An increase in expenditure on healthcare expenditure and rising lifestyle-related diseases are projected to contribute towards accelerating the mHealth solutions market. There are a few more important factors propelling the mHealth solutions market further including the growing adoption of artificial intelligence and rising emerging markets.

Key Points from the mHealth Solutions Market

• mHealth solutions marketis expected to hold a CAGR of 26.8% during the forecast period 2023 to 2033.
• North America followed by Europe dominated the mHealth solutions market
• Based on the end-user category, the hospitals’ segment is estimated to lead in terms of market value and is predicted to lead the market.
• Based on application type, the patient monitoring segment is leading the mHealth solutions market in terms of market value and is anticipated to lead the market.
• Based on the product and service category, the mHealthcare apps segment recorded a significant CAGR of 20.3% in the mHealth solutions market and continue to account for a large share in future years.
• North America and East Asia are predicted to grow significantly in the future period.

Competitive Landscape: 

The key players in the market aim at strengthening their position and expanding the customer base by introducing novel products into the market. They further focus on adopting strategies such as partnerships, acquisitions, and collaborations to expand the business around the world globally. In order to gain a competitive advantage over other competitors in the market, key players also focus on following strategic initiatives. Moreover, these companies further aim at expanding their operation in competitive markets to grab novel opportunities and consequently increase their market share.

Key players in the market constantly make efforts to reinforce their position in the market by focusing on innovations and new product launches.

Key Players of the mHealth Solutions Market:

• Bayer Pharmaceuticals
• Medtronic
• Apple
• AirStrip
• AliveCor Inc.
• BioTelemetry Inc.
• Athenahealth
• AgaMatrix
• LifeWatch Services Inc.
• Philips
• iHealth
• AT&T
• Omron Healthcare Inc.
• Qualcomm Technologies

Key Development:

A leader in healthcare technology, Royal Philips announced the acquisition of a prominent remote cardiac diagnostic and monitoring provider based in the United States, BioTelemetry in February 2021. The acquired organization is going to be a part of the Connected Care business division of Philip now.