Market could see a $36 billion healthcare saving by 2018.
Mobile health comes in various forms, whether as a standalone device, one connected to smartphones and tablets or health and fitness apps.
M-health apps aim to use mobile technology to improve health throughout the world delivering professional advice straight to device without the need for a waiting list. This shortens the timespan between a patients receiving treatment, spending less time in hospital and creating less outpatient visits.
As such, Juniper Research predicts the m-health market could save the remote patient monitoring market $36 billion over the next five years.
This significant opportunity comes at a good time as healthcare in the developing world takes steps towards 'accountable care,' which funds patients based on the health of the patient or individual as opposed to the cost of treatment required.
Telefonica Digital is among those looking to strengthen the market, making a big move into m-health in emerging markets earlier this year by buying a controlling stake in Brazilian care provider Axismed.
Meanwhile, companion apps and m-health attachments are creating a new route for providing services - a route that is expected to grow faster than bespoke devices.
Anthony Cox, author of Juniper's report, said: "m-health hardware linked directly to a companion app on the smartphone has become an exciting new area for m-health."
The report also found that Western Europe - second to the US - will be the most promising new market for cardiac outpatient monitoring, and that to effectively advance m-health, the cost-saving projections need to reach those funding the healthcare centre.