The global mHealth market is expected to reach $111.8 billion by 2025, growing at a CAGR of 44.2%, according to a new report by Grand View Research.
The need to reduce long waiting periods in order to access health care facilities from specialists is the primary driver responsible for the adoption of mHealth.
The availability of applications for consumers is continuing to grow rapidly, especially healthcare apps. These applications assist users in self-management of wellness, disease and chronic abnormalities.
According to the report, this has led to the patient playing an important and active role in staying informed and updated on their own healthcare decisions, contributing to the rise in adoption of mHealth apps globally.
Healthcare is gradually transitioning towards a precision-based model, better known as a ‘personalized medicine’ model. mHealth is becoming a widespread trend due to the introduction of technologies such as EMR, remote monitoring, and other communication platforms.
mHealth leverages the 4Ps of healthcare delivery, that is personalised, predictive, participatory, and preventive, to ensure delivery of optimal care to its users.
In addition, growing penetration of smartphones, especially in low- & middle-income countries and growing focus on utilising mobile technology to leverage healthcare delivery and ensure a population health plan is anticipated to benefit the market.