The Global Connected mHealth Devices Market was valued at USD 25.09 Billion and is projected to reach a market size of USD 48.58 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 9.9%.
mHealth (also written as mhealth or m-health) is an abbreviation for mobile health, a term used for the practice of medicine and health care over smartphones, tablets, and computers. The widespread utilization of mobile technology in developing nations and its increasing accessibility have contributed to the rapid expansion of the mHealth field in recent years. The subfield of healthcare known as eHealth, which makes use of computers, emails, satellite communications, and monitors, is well-known to a lot of individuals. On smartphones, tablets, and other portable devices, mHealth technology carries out similar functions, including gathering vital signs, sending information to doctors, and enabling remote examinations.
In underdeveloped nations, mHealth focuses on obtaining immediate information for illness diagnosis, disease tracking, and timely information dissemination. In remote areas where doctors and nurses may not be present to provide treatment, mobile health (mHealth) is especially important. mHealth enables doctors and nurses in these remote areas to obtain timely information on disease management and to share actionable health information with their colleagues. Medical students and interns working in remote communities can benefit from this mobile health technology by receiving training and education faster on health-related topics.
Global Connected mHealth Devices Market Drivers:
The increasing focus on improving personal health and fitness using smart devices and wearables are fuelling the growth of the global connected mHealth devices market.
With the ease of accessibility and convenience of using smart devices and wearables, many individuals have started to adopt these devices to monitor their health and fitness levels, which provides them with real-time data and feedback. Therefore, this factor fuels the demand for connected mHealth devices globally augmenting the market expansion.
The rising prevalence of chronic diseases is another factor contributing to the growth of the global connected mHealth devices market.
The rising incidence of chronic diseases, including diabetes, heart disease, high blood pressure, and obesity globally is causing concern over the availability and accessibility of healthcare and forcing companies and government to take initiatives to promote them. Connected mHealth devices provide a way for individuals to monitor their health and prevent the onset of these diseases. Therefore, this factor propels the demand for connected mHealth devices.
Global Connected mHealth Devices Market Challenges:
The global connected mHealth devices market is encountering challenges, primarily in terms of a lack of technological awareness among the elderly population and the cost associated with connected mHealth devices. The elderly population may not be as familiar with technology as the younger population or may be hesitant to adopt new technologies, which can restrict the demand for connected mHealth devices. Moreover, high-quality connected mHealth devices, which provide data with high accuracy can be costly to individuals with lower incomes or limited access to healthcare. Thus, these challenges inhibit the growth of the global connected mHealth devices market.
Global Connected mHealth Devices Market Opportunities:
Improved sensor technology and the integration of advanced technologies in connected mHealth devices present lucrative opportunities in the global Connected mHealth Devices market. Connected mHealth devices can capture more detailed and accurate health data and provide more personalized insights and recommendations based on a patient's health data with the integration of advanced technologies, including artificial intelligence (AI) and machine learning (ML), and enhanced sensor technology. This may lead to more accurate diagnoses, earlier detection of health problems, and more effective treatment recommendations.
The outbreak of the COVID-19 pandemic substantially impacted the global connected mHealth devices market. The implementation of strict lockdowns, travelling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the distribution of connected mHealth devices. These factors negatively impacted the growth of the global connected mHealth devices market. However, as patients sought ways to monitor their health from home and communicate with healthcare providers remotely, the pandemic accelerated the adoption of remote healthcare services like telemedicine and remote patient monitoring. In addition, there has been a shift toward the management of chronic diseases as healthcare resources have been diverted to the pandemic. Remote monitoring of chronic diseases using connected mHealth devices helped to prevent disease exacerbations and reduce the need for in-person visits. These factors positively impacted the market's growth. Therefore, the global connected mHealth devices market experienced both challenges and opportunities during the difficult time of the COVID-19 pandemic.
Global Connected mHealth Devices Market Recent Developments:
CONNECTED MHEALTH DEVICES MARKET REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2023 - 2030 |
|
Base Year |
2023 |
|
Forecast Period |
2024 - 2030 |
|
CAGR |
9.9% |
|
Segments Covered |
By Device Type, Smartphone Applications, Technology, Age Group, and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regional Scope |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Key Companies Profiled |
Omron Corporation (Japan), Garmin Ltd. (United States), Fitbit, Inc. (United States), AirStrip Technologies (United States), iHealth Labs, Inc. (United States), Apple, Inc. (United States), Koninklijke Philips N.V. (Netherlands), Xiaomi Corporation (China), Dexcom, Inc. (United States), Nike, Inc. (United States) |
Global Connected mHealth Devices Market Segmentation:
In 2022, the blood glucose meter segment held the highest market share. The growth can be attributed to the rising incidence of diabetes among both the elder and young populations. Moreover, the technological advancements in blood glucose meters over the years, such as continuous glucose monitoring (CGM) systems, to provide more accurate results and reduce the number of frequent blood draws further propel this segment's growth.
In 2022, the exercise and fitness apps segment held the highest market share. The growth can be attributed to the increased focus on fitness and wellness among individuals accelerated by the COVID-19 pandemic, which enabled individuals to stay active and fit from the safety of their homes. Moreover, the personalization feature in fitness apps for workout and training routines and the integration of fitness apps with wearable devices further propels this segment's growth.
In 2022, the smart wearables segment held the highest market share. The growth can be attributed to the features that smart wearables, such as smartwatches and fitness bands, possess. These smart wearables are equipped with various sensor technology, which enables individuals to track and monitor their physical activity, heart rate, blood oxygen levels, sleep patterns, and other health-related data. Moreover, the increased demand for remote patient monitoring and telehealth services also propels this segment's growth.
Based on the age group, the global connected mHealth devices market is segmented into geriatrics, adults, and pediatrics. In 2022, the geriatrics segment held the highest market share. The growth can be attributed to the requirement for continuous health monitoring and management devices for elders who are more likely to have chronic diseases.
In 2022, the region of North America held the largest share of the global connected mHealth devices market. The growth can be attributed to the rising adoption of smartphones, internet penetration, the presence of sophisticated IT and telecommunications infrastructure, and the growing adoption of digital technologies in the healthcare industry. The increased incidence of various diseases, such as diabetes, sleep apnea, hypertension, cardiovascular diseases, and obesity, among the geriatric population, further propels the region's growth. In addition, the region is home to several key market players, including Garmin Ltd., Fitbit, Inc., iHealth Labs, Inc., Dexcom, Inc., and AirStrip Technologies.
Global Connected mHealth Devices Market Key Players:
The Global Connected mHealth Devices Market was valued at USD 25.09 Billion and is projected to reach a market size of USD 48.58 Billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 9.9%.
The Global Connected mHealth Devices Market Drivers are the increasing focus on improving health and fitness using smart devices and wearables and the rising prevalence of chronic diseases.
Based on the Device Type, the Global Connected mHealth Devices Market is segmented into Apnea and Sleep Monitors, Blood Glucose Meters, Blood Pressure Monitors, ECG/ Heart Rate Monitors, Pulse Oximeters, Neurological Monitors, Multiparameter Trackers, and Others.
The United States is the most dominating country in the region of North America for the Global Connected mHealth Devices Market.
Omron Corporation, iHealth Labs, Inc., and Koninklijke Philips N.V. are the leading players in the Global Connected mHealth Devices Market.
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