According to a new report Global mHealth Market, published by KBV research, The Global mHealth Market size is expected to reach $206.1 billion by 2026, rising at a market growth of 31.6% CAGR during the forecast period. The market is driven by the advent of digital healthcare that has gained traction due to US-based mobile health app providers, manufacturers of wearable devices, and e-prescription structures. In addition, because of supporting government initiatives across all regions, the healthcare industry exhibits high growth potential for the IT industry.
In 2019, mHealth apps emerged as a key component segment, primarily due to the increasing adoption of smartphones by consumers. Mobile network operators perceive mHealth apps as a valuable investment tool with increasing mobile penetration and knowledge of health, nutrition, and diet. Mobile operators accounted for the largest market share in 2019 and this trend is projected to continue throughout the forecast period. The rising in the number of mobile subscribers worldwide generates growth opportunities for mobile operators.
Wearables are expected to grow at a steady CAGR over the forecast period. Mobile phone integration, wireless communication, and long battery life are some of the main features that users are looking for in a wearable device. Rapid improvements in the features of these mHealth wearables play a significant role in driving the growth of the market.
The Asia Pacific was the market leader with the largest market share due to the growing use of mHealth for healthcare needs. Countries such as Singapore, Australia, and South Korea have tremendous potential due to their advanced healthcare IT infrastructure and rising investments in the digital health sector. The increasing geriatric population in countries such as China and Japan and the rising burden of chronic conditions are also driving demand for mHealth technologies in the region.
Structural Insights: https://www.kbvresearch.com/mhealth-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bayer AG, Medtronic PLC, Johnson and Johnson, Koninklijke Philips N.V., DexCom, Inc., Samsung Electronics Co., Ltd. (Samsung Group), Omron Corporation, AllScripts Healthcare Solutions, Inc., Sanofi S.A., Cerner Corporation.
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