Berg Insight has recently unveiled new findings that shed light on the thriving mHealth market. In 2023, the number of patients under remote monitoring reached a staggering 76.7 million globally, a testament to the increasing acceptance of mHealth solutions across various industries. This statistic encompasses patients enrolled in mHealth care programs that leverage connected medical devices as part of their treatment plans, excluding devices used solely for personal health tracking. Looking ahead, Berg Insight projects a compound annual growth rate (CAGR) of 12.8%, anticipating the number of remotely monitored patients to soar to 140.1 million by 2028.
The mHealth landscape is dominated by three key applications: monitoring patients with sleep therapy devices, tracking glucose levels in diabetic patients, and overseeing patients with implantable cardiac rhythm management (CRM) devices. Sleep therapy, spearheaded by ResMed, stands out as the most interconnected sector, with roughly 32.2 million patients under remote monitoring in 2023, more than double the figures from 2018. This growth is propelled by compliance monitoring regulations in the US and Europe. Glucose level monitoring has also seen substantial growth, making it the second-largest segment with 12.6 million connections by the end of the year. Increased adoption of continuous glucose monitoring (CGM) systems from Abbott and Dexcom is driving this surge. The CRM market, championed by industry giants like Medtronic, Abbott, Boston Scientific, and BIOTRONIK, have been incorporating connectivity into their CRM solutions for over two decades. Other device categories in mHealth include ECG, telehealth, medication compliance monitoring, blood pressure monitors, and more. The fastest-growing segments in the next five years are predicted to be remote ECG monitoring and medication compliance monitoring, with key players like AliveCor, Boston Scientific, Compliance Meds Technologies, Evondos, GE HealthCare, Phillips, Hero, InfoBionic.Ai, iRhythm Technologies, MedMinder, MedReady, and VitalConnect leading the charge.
The realm of mHealth software and services is undergoing rapid evolution, constituting a critical part of the mHealth value chain. This segment encompasses platforms and software solutions enabling remote patient monitoring through connected devices like wearables and sensors that capture real-time vital signs data and health metrics. Service providers in this domain deliver holistic solutions integrating data analytics, telehealth capabilities, and patient engagement tools to ensure seamless and effective care. Notable companies in this space include Accuhealth, Amwell, Aptar Digital Health, Alira Health (Bepatient), Biofourmis, Doccla, Huma Therapeutics, Omron Healthcare (Luscii), Medixine, Medisanté, MedM, S3 Connected Health, Current Health, SHL Telemedicine, Teladoc Health (Livongo), TytoCare, Enovation, and Welldoc.
The surge in demand for home monitoring solutions echoes the shift towards value-based care globally, necessitating cost-efficient, high-quality care solutions. The healthcare industry’s response has been marked by data-driven innovations like remote diagnostics and self-engagement apps, ensuring patient compliance and treatment effectiveness. Incorporating artificial intelligence into mHealth solutions further enhances disease detection and tailors treatment plans by leveraging substantial datasets.
“With advancements in AI and machine learning, mHealth platforms are evolving from monitoring tools to comprehensive systems that assist in diagnosing and treating patients, paving the way for more effective healthcare”, remarked Vatsala Raina, the IoT analyst at Berg Insight.
Indeed, digital health solutions have the potential to alleviate the strain on healthcare systems by streamlining access to patient data, enhancing efficiency, and elevating the quality of care. Raina foresees continued robust growth in this market as regulations and reimbursement models increasingly favor remote patient monitoring solutions worldwide.
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