Mobile health solutions market to grow by USD 256.69B from 2022-27

The mobile health solutions market size is estimated to grow by USD 256.69 billion from 2022 to 2027, at a CAGR of 27.09% according to Technavio. Increasing smartphone penetration drives the mobile health solutions market. Generally, mobile health applications are designed to provide a wide range of functionalities such as health tracking, medication reminders, appointment scheduling, virtual consultations, and access to health resources. Furthermore, the growth can be attributed to factors such as intuitive touchscreens, easy-to-navigate menus, and the availability of multiple languages and accessibility features market smartphones inclusive and user-centric. Hence, such factors boost the growth of the mobile health solutions market during the forecast period.

Mobile health solutions market – Vendor insights
The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market vendors including Abbott Laboratories, AirStrip Technologies Inc., Apple Inc., athenahealth Inc., Boston Scientific Corp., Cisco Systems Inc., Dexcom Inc., Johnson and Johnson Services Inc., Koninklijke Philips NV, Medtronic Plc, Mobile Wellness Solutions MWS Ltd., Omada Health Inc., OMRON Corp., Oracle Corp., Qualcomm Inc., Samsung Electronics Co. Ltd., Veradigm LLC, Fitbit LLC, Nokia Corp., and WaveForm Technologies Inc.

Mobile health solutions market – Market dynamics
Significant trends –
Growing recent developments related to mobile health solutions is an emerging mobile health solutions market trend. Various market vendors contribute to this trend by introducing new solutions, mergers and acquisitions, and new investments to expand their market reach. In August 2022, Kaiser Permanente of the Northwest and Medical Teams International started a ground-breaking program called Kaiser Permanente Care & Connect which promotes the Mobile Health (mHealth) Solutions Market.

Similarly, in January 2023, global medical technology company Masimo and medical technology giant Royal Philips announced an expanded partnership to enhance patient monitoring capabilities in home telemedicine with the Masimo W1TM advanced health monitoring watch. Hence, such trends boost the market growth during the forecast period.

Key challenges –
Privacy and security concerns associated with mobile health solutions challenge the growth of the mobile health solutions market. Mobile health applications collect and transmit sensitive health data. This ensures the privacy and security of this information is of utmost importance.

Moreover, mobile health solutions are mainly integrated with third-party platforms or devices, such as wearable fitness trackers or electronic health record systems. Hence, such challenges impede the growth of the mobile health solutions market during the forecast period. Technavio