North America Is Dominating Mobile Health Industry

In 2022, the mobile health industry was worth around USD 59,640 million, and it is predicted to advance at a 12.60% CAGR from 2022 to 2030, hitting USD 154,115 million in 2030.

This growth can be credited to the increasing usage of tablets, smartphones, and other phone communication channels, along with that of connected mHealth applications and medical equipment. Additionally, the increasing occurrence of chronic disease and the rising elderly populace, the increasing need for remote patient monitoring facilities, and the rising concentration on patient-centric healthcare facilities are contributing to the market growth.

In 2022, the connected devices category held the largest market share, approximately 48%, and is projected to continue to be dominant in the future as well. This can be credited to the increasing usage of the internet, mounting usage of tablets and smartphones, rising demand for a lower cost of care, solid concentration on real-time illness management, and ever-increasing requirements for better patient care.

Furthermore, the growing population, increase in the frequency of several lifestyle-related illnesses, development in the trend of home-based analyses, and fast execution of EHRs are boosting the adoption of connected medical devices.

In 2022, Mobile operators held the largest mHealth market share, at 51%, and are projected to continue with the leading spot till the end of the decade. Mainly because of the growth in the number of subscribers, surge in the number of industry merging activities, constant betterment in the network infrastructure, and increase in the acceptance of the 4G & 5G technologies.

In 2022, North America held the largest market share, at approximately 38%, and is projected to lead the market in the future as well. This can be credited to the snowballing frequency of chronic disease cases, sophisticated network infrastructure, increasing healthcare investment, and growing geriatric population. Additionally, the increasing burden of CVDs and the mounting number of patients in hospitals contribute to the growth of the regional market.

During the forecast period, the APAC market is all set to grow at the fastest pace with a CAGR of 14.7%. This growth can be credited to the escalating expenditure by the key players in HIT solutions because of the surge in healthcare investment in the emerging countries of the region and the growing frequency of chronic diseases.

Developing countries, such as India, South Korea, and China are boosting the regional market. This is because of the growing need for better healthcare technologies, rising research and development investment by healthcare firms, and the entrance of new giants in the market.

Hence, the increasing usage of tablets, smartphones, and other phone communication channels, along with that of connected mHealth applications and medical equipment are the major factors driving the market.