Over $130.0 Billion Revenue Expected in Global Mobile Health (mHealth) Market by 2023

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The increasing penetration of internet across the world is one of the key factors responsible for the surge in the demand for mobile health (mHealth) technology. Due to the development of affordable 3G and 4G spectrum and numerous mobile applications, the number of mobile phone users is soaring in several countries. As per the World Bank development indicators, 44 out of 100 people were found to use internet globally in 2016. As per the China Internet Network Information Center (CNNIC), the country had 731 million internet users in 2016, with 95% of them being mobile users.

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Driven by the above-mentioned factors, the global mHealth market generated revenue of $23.0 billion in 2017 and is further expected to attain a value of $132.2 billion by 2023, demonstrating a CAGR of 33.5% during the forecast period (2018–2023). The mHealth services available throughout the world include diagnosis and consulting, preventive services, healthcare system strengthening services, treatment services, remote monitoring, and fitness and wellness services. Additionally, connected devices and mHealth apps are also available.

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Globally, North America recorded the highest adoption of mHealth technology in 2017, owing to the presence of a huge geriatric population, high incidence of chronic diseases, huge healthcare spending, and easier customer accessibility to connected medical devices in the region. Asia-Pacific (APAC), on account of the surging geriatric population, rising prevalence of chronic diseases, and skyrocketing healthcare investments, is expected to observe the fastest growth in the utilization of mHealth technology during the forecast period. The surging geriatric population propels the demand for remote monitoring devices, thereby driving the growth of the mHealth market in the region.


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