mHealth Market Size

mHealth Market size was valued at USD 125.18 Billion in 2023 and is set to cross USD 672.02 Billion by the end of 2036, expanding at more than 13.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of mhealth is estimated at USD 140.73 Billion.The market is estimated to grow on the back of rising adoption of smart devices and wearables among population in order to improve personal health and fitness. As per estimates, the number of connected wearable devices globally was around 320 million in 2016, which increased to 720 million in 2019. In addition, this figure is projected to exceed 1 billion by the end of 2022.

The global mhealth market is also estimated to witness growth on the back of rising prevalence of chronic diseases globally. According to data from the Centers for Disease Control and Prevention (CDC), approximately 1,752,735 new cancer cases were diagnosed in the United States in 2019. In addition, cancer became the leading cause of death globally in 2020, accounting for approximately 10 million deaths, as per data by the World Health Organization (WHO). Moreover, increasing trend of patient-centered approach in mHealth along with rising technological innovations and developments is also anticipated to propel the market growth in the coming years.