The total revenue of the mHealth market was USD 59,640 million in 2022, which will grow at a rate of 12.60% in the years to come, to touch a value of USD 154,115 million by 2030.
Connected devices had the largest share of revenue, of about 48% in the recent past, and it will consolidate its position in the future.
This has a lot to do with the growing use of internet, increasing usage of tablets and smartphones, mounting need for enhanced patient care, increasing demand for a lower cost of care, and robust emphasis on real-time management of diseases.
Healthcare apps had the larger revenue share, and this trend will continue in the years to come as well. This is because of the increasing cases of chronic diseases amongst the elderly population, increasing preference for suitable health solutions, and high internet penetration along with the usage of smartphones.
Service apps also generated a considerable revenue in the past. This is credited to the growing requirement for online consultation, healthcare surveillance, remote monitoring, and emergency response; increasing count of outpatient settings, growing requirement for frequently tracking the health of patients, and increasing number of initiatives by the government to spread consciousness about overall health.
Mobile operators dominated the mHealth market with a share of 51%, in 2022, and they will maintain their dominance by the end of this decade as well. This is owing to the increase in the subscriber count, incessant development in the network infra, rise in the acceptance of the 4G and 5G, and increase in the number of industry consolidation activities.
The growing use of smartphones and tablets in various developed and developing countries is a main factor powering the growth of the industry. Mobile users are quickly switching to smartphones because of the obtainability of reasonably priced 3G and 4G spectra.
This increasing use of smartphones, together with the increasing awareness of the numerous advantages of these services and devices, such as preventive care, will power the requirement for them.
North America had the largest revenue share of about 38% in the past, and it will continue its dominance in the future, as per a report published by P&S Intelligence.
It is because of the increasing healthcare spending, rising number of cases of chronic ailments, growing elderly population, and sophisticated network infra.
Apart from this, the increasing burden of cardiovascular diseases, and increasing number of in-house patients boost the growth of the industry.
It is because of the increasing use of internet and smartphone, the demand for mHealth services will continue to rise in the future as well.
