Summary

The mobile health (mHealth) market is expected to register a CAGR of 25% in the forecast period, from USD 51,635 million in 2020 to USD 2,25,765 million by 2026.

The COVID-19 pandemic is likely to have a relatively positive impact on the overall market. In a bid to avoid the spread of infection further and protect front-line workers and patients alike, mobile health has emerged as a new savior. Mobile health solutions, primarily through smartphones and remote monitoring, have become a lifeline for consultation. The major factor for it is that many healthcare professionals are taking a two-way approach to treat patients. Therefore, the rising cases of COVID-19 are expected to increase the mobile health business in the short term. In the long run, this situation will result in the acceleration and wide adoption of digital solutions, especially those with remote care components. Before the pandemic, technology has been on the back-end in most hospitals, which is an opportunity to get in the front by dealing with the patients through online gateways.

In March 2020, accuRx, a digital healthcare start-up that Innovate UK supported, developed and rolled out a video consultation software that could enable United Kingdom-based healthcare providers to communicate remotely with their patients, and the process was expected to minimize infection risk from seeing patients with COVID-19. Again, in 2020, LIVI, the United Kingdom branch of Europe’s largest digital healthcare provider KRY, announced the launch of a free web-based platform called ‘LIVI Connect’ across Europe that is expected to enable healthcare professionals to connect with remote patients during COVID-19 via video consultations.

The sudden global outbreak of the coronavirus is expected to boost telehealth usage and mobile health solutions such as tele-ICU devices, as these will help caregivers communicate effectively with their patients during the pandemic and provide better solutions to their health concerns. Due to social distancing implemented by various countries worldwide, virtual care delivery is stepping up as an effective solution for safe and better communication.

In recent years, the number of internet applications in healthcare increased exponentially. The internet has linked all the points in healthcare administration/services and created a separate network, called the Internet of Things (IoT), for healthcare. With the help of the internet, healthcare professionals can deliver health information to consumers more conveniently, in lesser time, and at reduced costs. A growing preference toward mobile technology and the internet and mounting demand for digital health is expected to boost the market growth. As per Eurostat data, in 2019, the share of EU-27 households which had internet access increased to 90%, and which rose by 26 percent than in 2009 (64%), and Broadband internet access was used by 88% of the households in the EU-27 in 2019, which was 33 percent higher than in 2009 (55%). According to longitudinal research from the EC (Eurostat), European citizens are increasingly seeking health information online. In 2019, 54.9% of the survey respondents announced that they sought health information online compared to 46% in 2015. As per the same source, in 2018, 17.3% of people in Europe used the internet to book a healthcare appointment compared to only 10.1% in 2014. However, the use of the internet to book appointments was highest in Denmark (41.24%) and lowest in Italy (9.14%). These developments are expected to have a positive effect on market growth.

Key Market Trends

Remote Patient Monitoring Devices are Expected to Show Better Growth in the Forecast Period

Mobile-Health for monitoring and collecting real-time patient data plays a critical role in managing various vital parameters of the patients for better health outcomes. According to the research article published in International Conference on Computer Science, Engineering and Applications, 2020, IoT health wearable devices collect data from a patient in various living areas such as hospitals, homes, and work-stations.

By using the wearable device, the patient information can be easily tracked and verified by the concerned doctor and ground the result analysis for Treatment services. If the patient's abnormal condition is found in e-health Monitoring System (EHMS) analysis, the doctor can take appropriate decisions based on the abnormal results. Treatment can be started immediately, and relevant medication setups can be sent in an ambulance within less time to the patient.

Remote patient monitoring platforms help to provide various additional health-related services such as daily health alerts, doctor appointments, E-Health check-up reports, suggests food diet, and other benefits through SMS services. Consequently, hospitals can also customize EHMS applications altogether and provide the best suggestable EHealth services.

In Sep 2020, Abbott Laboratories received a CE mark for its next-generation FreeStyle Libre 3 system for use in people with diabetes. The new FreeStyle Libre 3 technology helps to provide continuous, real-time glucose readings that are automatically delivered to smartphones every minute, thus providing unmatched 14-day accuracy.

In Dec 2020, Samsung received a CE mark for its Samsung health Monitor App, which aid in monitoring blood pressure through pulse wave analysis, with the Heart Rate Monitoring sensors and also the ECG feature analyses the heart's electrical activity through a sensor by installing t he app in both phone and smartwatch.

Thus, owing to the increasing product approvals for continuous monitoring of vital parameters and the growing awareness of health management, the studied segment is expected to propel over the forecast period.

North America is Expected to Dominate the Mobile-Health (m-Health) Market

North America is expected to dominate the market during the forecast period. Healthcare in the North American region is experiencing positive trends, with the emergence of mobile health applications that help people to be active in personal health management. Smartphones and mobile technology make it possible to use both clinical and lifestyle applications to help, educate, and change health behaviors. More people are now using mobile health applications.

The United States is likely to be the largest market in the region. According to the World Ageing 2019 report, estimated that in 2019 there were about 53.340 million (16.2%) population aged 65 years or over in the United States. This number is projected to reach 70.842 million (20.3%) in 2030. As the elderly population is expected to increase soon, and this population is more prone to chronic conditions such as diabetes, cardiovascular and other diseases, which will show a positive impact on the market. The extensive consumer interest in and adoption rate of mobile health applications, such as wearable technology (bands and watches) that monitor and report throughout the day, supports market growth by driving digitalization and converting conventional forms of healthcare management to connected and remote healthcare. Due to the outbreak of COVID-19 in the United States and the lockdown situation, it is also important to maintain core and critical medical and public health services. Telemedicine services widely increased in the country, as per CDC, which is significantly driving the market. As per the American Academy of Family Physicians Fact sheet 2020, due to the outbreak of COVID-19, the Centers for Medicare & Medicaid Services (CMS) has broadened access to Medicare telehealth services so that beneficiaries can receive a wider range of services from their doctors without having to travel to a healthcare facility. Moreover, the US government initiated the "telehealth and telemedicine Tool Kit, “ which provides three main types of virtual services physicians and other professionals can provide to Medicare such as "MEDICARE TELEHEALTH VISITS," "VIRTUAL CHECK-INS" and "E-VISITS." These developments are expected to boost the market growth.

Competitive Landscape

The mobile-health (m-Health) market is at a growing stage, and it is moderately competitive. Market players are focusing on new product launches, such as basic cardiology and blood glucose monitors. Moreover, smartwatches, health monitors, pedometers, and activity trackers are trendy wearable devices launched by several companies. Furthermore, companies are focusing on industry collaborations, mergers, acquisitions, and partnerships to enhance their presence in the mHealth market. For instance, in November 2020, Cerner Corporation announced that it would be offering a new video care platform called the Video Visit program to its CommunityWorks clients.

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in Use of Smartphones and Tablets, across the World
4.2.2 Increasing Focus on Personalized Medicine and Patient-Centered Approach
4.2.3 Increased Need of Point of Care Diagnosis and Treatment
4.3 Market Restraints
4.3.1 Data Security Issues
4.3.2 Stringent Regulatory Scenario for mHealth Applications
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Service Type
5.1.1 Treatment Services
5.1.1.1 Independent Aging Solutions
5.1.1.2 Chronic Disease Management
5.1.2 Diagnostic Services
5.1.3 Monitoring Services
5.1.3.1 Remote Patient Monitoring Devices
5.1.3.2 Medical Call Centers Manned by Healthcare Professionals
5.1.3.3 Teleconsultation
5.1.3.4 Post Acute Care Services
5.1.4 Wellness and Fitness Solutions
5.1.5 Other Services
5.2 By Device Type
5.2.1 Blood Glucose Monitors
5.2.2 Cardiac Monitors
5.2.3 Hemodynamic Monitors
5.2.4 Neurological Monitors
5.2.5 Respiratory Monitors
5.2.6 Body and Temperature Monitors
5.2.7 Remote Patient Monitoring Devices
5.2.8 Other Device Types
5.3 By Stake Holder
5.3.1 Mobile Operators
5.3.2 Healthcare Providers
5.3.3 Application/Content Players
5.3.4 Other Stake Holders
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle-East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Medtronic PLC
6.1.2 Koninklijke Philips NV
6.1.3 Omron Corporation
6.1.4 Johnson & Johnson
6.1.5 Capsule Technologies Inc.
6.1.6 AT&T Inc.
6.1.7 Cisco Systems Inc.
6.1.8 Bayer AG
6.1.9 Samsung
6.1.10 GE Healthcare Ltd.
6.1.11 Cerner Corp.
6.1.12 Allscripts Healthcare Solutions Inc.
6.1.13 Voxiva (Welltok)
6.1.14 Athenahealth

7 MARKET OPPORTUNITIES AND FUTURE TRENDS