The mHealth services dominated the market in 2014 and are expected to grow over $55.63 billion by the end of the forecast period due to the increasing usage of mHealth solutions by healthcare providers and pharmaceutical companies along with end users (patients). However, device segment is expected to grow in near future with a high CAGR of 38.02%, from 2015 to 2022, due to increasing integration of mHealth devices with smart phones and weareables, and also, increasing opportunities of connected health solutions are predicted to promote the growth of this market through the forecast period.
Mobile health (mHealth) is one of the most modernized trends in the healthcare industry that has shown tremendous progress in the last few years. This trend is observed due to the flourishing growth of personal health devices, which can be easily worn or used with a smartphone or tablet. Mobile Health refers to the use of mobile communications, such as personal digital assistant (PDAs), laptops, and mobile phones among others, for health services and information.
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Medtronic plc (Ireland), Apple, Inc. (U.S.), AirStrip Technologies, Inc. (U.S.), AliveCor, Inc. (U.S.), LifeWatch AG (Switzerland), Nike Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Jawbone (U.S.), OMRON Corporation (Japan), Withings (France), BioTelemetry Inc. (U.S.), athenahealth, Inc. (U.S.), AgaMatrix, Inc. (U.S.), iHealth Lab, Inc. (U.S.), AT&T (U.S.), Qualcomm (U.S.), Cerner Corporation (U.S.), and Cisco Systems, Inc. (U.S.), and Nokia Corporation (Finland).
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Global Mhealth Market to grow at a CAGR of +37% during forecast period 2015-2022
Some of the other factors responsible for substantial market growth include low cost and convenience of medical devices, technological innovations, integration of wireless technologies, and affordability of smartphones, government initiatives and increasing lifestyle diseases. Factors such as lower adoption due to lower accuracy, nascent technology in underdeveloped economies, limited reimbursement coverage, lack of technological awareness among the ageing population and uncertainty in government regulations are restricting market growth to a certain extent.
Global mHealth services market consists of diagnostic services, monitoring services, treatment, prevention and wellness & healthcare system strengthening solutions. The growth of mHealth services market is attributed to rising revenues generated from monitoring services market. The rising adoption of monitoring services for chronic disease management, post-acute care management as well as aging population are supporting the monitoring services market growth.
This research, highlighting the current situation of the global Mhealth market, focuses on answering some of the important questions faced by stakeholders. By providing answers to all of these questions related to the key drivers and dominant companies, the report’s authors also focus on different factors, which would create new growth opportunities in the global Mhealth market. Prepared by an expert team, the report on the global Mhealth market highlights recent developments, key trends, and new project developments in the market. As leading companies take efforts to maintain their dominance in the global Mhealth market, the right way to do so is by adopting new technologies and strategies.
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The report is presented in a clear and concise manner so that readers can understand the market structure and dynamics effectively. Recent trends and developments in the global Mhealth market have been analyzed. Opportunities leading to the growth of the market have been analyzed and stated. The report focuses on the global Mhealth market, and answers some of the most critical questions stakeholders are currently facing across the globe. Information about the size of the market (by the end of the forecast year), companies that are most likely to scale up their competitive abilities, leading segments, and challenges impeding the growth of the market are given.
Drivers and restraints impacting the growth of the market have also been analyzed. A segmentation of the global Mhealth market has been done for the purpose of a detailed study. The profiling of the leading players is done in order to judge the current competitive scenario. The competitive landscape is assessed by taking into consideration many important factors such as business growth, recent developments, product pipeline, and others. The research report further makes use of graphical representations such as tables, info graphics, and charts to forecast figures and historical data of the global Mhealth market.
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