In a rifle the .22m is a niche round. Great if you're mandated by law for use on larger critters where a .22lr isn't quite enough (some states and areas don't allow centerfires for certain times and uses) or in areas where the extra umph and noise of a centerfire would be a definite no no.
In a handgun it's perhaps the biggest joke going. Frankly if you need more than a .22lr than you need a centerfire. The .22m is a squirrel and bunny gun (same as a .22lr rifle) but it's far from a requirement for that job and not big enough for anything bigger and/or tougher. Just bite the bullet and buy a .38. Bigger, better, more versatile, not much if any more expensive to shoot.