mHealth Market (Mobile Health) Is Expected To Reach USD 156.9 Billion Globally By 20XX:Decisiondatabases.Com Market Research

  • Analysis
  • 09-August-2017 announces the release of a comprehensive global report on mHealth. The mHealth market was valued $10.4 billion and is expected to reach $156.9 billion in 2023, supported by a CAGR of 47.2%. mHealth (mobile health) is a general term that makes use of mobile phones and other communication technologies in medical care.

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The global mHealth market is primarily driven by factors such as technological innovations, low cost & convenience of medical devices, integration of wireless technologies & affordability of smartphones, government initiatives and increasing lifestyle diseases. However the use of smartphone applications is anticipated to revolutionize the mHealth market by improving healthcare delivery and dissemination of medical information. Also the mHealth solutions that allow patient consultation and monitoring are gaining huge popularity owing to the adoption of smartphones and tablets. 

On the basis of device, the global mHealth market has been fragmented into multi-parameter trackers, neurological monitoring device, pulse oximeters, blood glucose meters, sleep & apnea monitor, wearable fitness sensor device, blood pressure monitors, ECG monitors, heart rate meters, peak flow meters, cardiac monitors and others. The largest segment for mHealth market is anticipated to be captured by blood pressure monitors. The second biggest segment is anticipated to be hold by blood glucose meter during the study period.

Based on stakeholders, the market for mHealth can be classified into mobile operators, application players, healthcare providers, device vendors and others. The leading segment in terms of market share is expected to be captured by mobile operator during the estimated period.

By services, the global mHealth market has been sectioned into treatment service, wellness services, monitoring services, prevention services, diagnosis service, healthcare system strengthening services and another service. Among these, the greatest share of the mHealth market across the world is anticipated to be captured by the monitoring services due to their usability in acute conditions such as coronary artery disease, hypertension, and congestive heart failure, followed by diagnostic services and healthcare systems strengthening. The second biggest segment for the global mHealth market is diagnosis & consultation service as these services allow healthcare professionals to connect with patients remotely.

Based on applications, the global mHealth market has been classified into personal health record (PHR) apps, medical apps, chronic care management apps and medication management, healthcare and fitness apps and others. Of these, the rapid growth is expected to be achieved by the healthcare and fitness apps in the near future.

Geographically, North America is anticipated to dominate the mHealth market in the coming years owing to increased mHealth adoption rate, followed by Europe and Asia-Pacific region. The second biggest leading regional market is expected to be occupied by Europe and thus is supposed to observe potential growth over the four years. This growth can be attributed to the factors such as increase adoption of smartphones, health and wellness-oriented mobile apps. The Asia Pacific region is expected to achieve the largest growth rate due to increasing government initiatives and rising geriatric population in this region. However, the countries such as India, China and Japan are anticipated to lead the Asia-Pacific market, with China having the largest share followed by India in terms of revenue.India is evolving as one of the mHealth hotspots in the region with a varied range of mHealth solution launches. U.K. is indulged in managing long-term care medical solutions and thus accounts for the greatest mHealth market.
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The key players operating in the global mHealth market are BioTelemetry, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Sanofi S.A. (France), Johnson & Johnson (U.S.), Athenahealth, Inc. (U.S.),Philips N.V. (Netherlands), Apple, Inc. (U.S.), AT&T, Inc. (U.S.), AirStrip Technologies Inc. (U.S.), LifeWatch AG (Switzerland), Nike Inc. (U.S.) Cerner Corporation (U.S.), Medtronic, Inc. (U.S.) and Omron Healthcare (Japan).
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