The global mHealth market size stood at USD 83.17 billion in 2023. The market value is slated to rise from USD 93.12 billion in 2024 to USD 249.05 billion by 2032 at a CAGR of 13.1% during 2024-2032.
mHealth solutions are used across various applications such as healthcare supply chain management, diagnostic & treatment support, education & awareness, chronic disease management, remote monitoring, and others. The market’s growth is being favored by the rising demand for home-based remote patient monitoring services across various regions.
The COVID-19 pandemic period witnessed an increase in the adoption of mobile-based health apps owing to the postponement of elective body check-ups and restrictions on movement.
Samsung Electronics Added a New Feature to the Samsung Health App to Provide Comprehensive Health Management
In December 2023, Samsung Electronics announced the addition of a new feature focused on ‘Medications tracking’ to the Samsung Health app. The feature was launched for aiding users in comprehensive health management. This would help users keep track of their over-the-counter and prescription medications. In addition, it would offer relevant information regarding these medications.
Industry Value to Surge Impelled by Escalating Preference for Remote Patient Monitoring Solutions
There has been a mounting preference for the adoption of remote patient monitoring systems. This can be attributed to the outbreak of highly infectious diseases across various regions. The versatility and convenience offered by these devices are the major aspects driving their adoption.
Leading Industry Participants Develop and Roll out New Solutions to Establish a Strong Market Footing
Major industry participants are focused on the development and launch of new products to gain a strong footing in the market. Such initiatives are being undertaken by companies to outpace their rivals and increase their mHealth market share. Omron Healthcare, Inc., and Boston Scientific Corporation are a few of the leading companies in the market.