Universal $217 Bn mHealth Market With Major Eminent Vendors | Medtronic plc, Omron Healthcare, Koninklijke Philips N.V, AliveCor, Nokia Corporation, LifeWatch AG, athenahealth, Cerner Corporation, Apple…

A Research Study Titled, mHealth Market by Product - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the mHealth market is projected to be around $217 billion by 2025.

mHealth is an abbreviation for mobile health. It refers to the practice of medical support available on mobile devices. It is closely related with digital health and uses all aspects of telecommunications and multimedia technologies for providing healthcare support. health focuses basically on patient empowerment and providing them better healthcare access. This technology is supposed to increase medical efficiency and decrease the medical care delivery costs.

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mHealth Market - Competitive Analysis:

The key players operating in the global mHealth market focus on product development and innovations by incorporating new and improved functionalities in them. With consistent advancements in information technology, companies are constantly strengthening their existing product portfolio in order to gain competitive advantage over other players. For instance, in March 2016, Apple, Inc. launched Carekit, a software framework which enables users to keep a track of care plans, and monitor symptoms and medication. Carekit also enables users to share information with family members, nurses, and doctors. Some of the major players operating in the global mHealth market are, Medtronic plc, Omron Healthcare, Inc., Koninklijke Philips N.V, AliveCor, Inc., Nokia Corporation, LifeWatch AG (acquired by BioTelemetry, Inc.), athenahealth, Inc., Cerner Corporation, Apple, Inc., iHealth Labs Inc., AgaMatrix, Inc., AT&T Corp., Nike, Inc., Dexcom, Inc., Fitbit, Inc. and AliphCom dba. Jawbone.

mHealth Market - Trend Analysis:

The global mHealth market is expected to be around $217 billion by 2025. Some of the key factors driving this market are, increasing penetration of smartphones around the world, increasing adoption of wireless technology oriented devices by the healthcare fraternity and rapid adoption of health related mobile apps by people. With increasing emphasis on devising and delivering patient-centric healthcare by healthcare providers, the mHealth market is slated to witness robust growth in coming years. Moreover, rapid penetration and advancement of internet connectivity across the world is also expected to boost the market growth during the forecast period. However, factors such as reluctance in adopting this technology by conventional healthcare providers in emerging countries and concerns related to security of patients’ data on mHealth platforms can hamper the growth of global mHealth market during the forecast period.

mHealth Market - Product Outlook and Trend Analysis:

Vital signs monitoring segment accounted for the largest share of the mHealth market in 2016 owing to the convenience of monitoring various vital parameters such as pulse rate, blood pressure, blood glucose levels using portable devices. Patients no longer need to visit clinics or hospitals to measure and monitor such parameters. Moreover, easy and timely detection of fluctuations in such important parameters can be effectively observed which can enable early disease diagnosis and treatment. Within the mHealth apps segment, healthcare apps sub-segment held the major market-share in 2016 as such apps can be installed and used directly by the patients on their smart devices such as tablets and smartphones anytime and anywhere. Due to such convenience offered by these apps, patients are rapidly adopting them resulting in a significant market share for the segment.

mHealth Market Segmentation:

mHealth Market - By mHealth Product: Vital Signs Monitoring Devices, Blood pressure Monitors, Pulse Oximeters, Blood Glucose Meters, ECG Monitors/Heart rate monitors, Fetal Monitoring Devices, Peak Flow Monitors, Neurological Monitoring Devices, Sleep Apnea Monitors, Multi-parameter Trackers, Consumer Health Devices, mHealth Apps, Healthcare Apps, General Health & Fitness Apps, Obesity & Weight Management Apps, Health Tracking Apps, Fitness & Nutrition Apps, Medication Management Apps, Chronic Care Management Apps, Diabetes Management Apps, Cancer Management Apps, Blood Pressure & ECG Monitoring Apps, Mental Health & Behavioral Disorder Management Apps, Other Chronic Care Management Apps, Personal Health Record Apps, Women’s Health Apps, Fertility Apps, Pregnancy Apps, Breastfeeding Apps, Other Women’s Health Apps, Other Healthcare Apps, Medical Apps for Healthcare Professionals, Continuing Medical Education Apps, Communication & Consulting Apps, Medical Reference Apps, Patient Management & Monitoring Apps

By mHealth Service:

Remote Monitoring Services
Treatment Services
Fitness & Wellness Services
Diagnosis & Consultation Services
Healthcare System Strengthening Services
Prevention Services

mHealth Market - Market Opportunities:

The future growth of mHealth market will be dominated by product development and innovations consisting of next-generation mHealth devices having enhanced data management and interpretation capabilities. Consistent additions in product portfolios will ensure competitive advantage for key players in the mHealth market. Strategic expansion in emerging markets is also a key opportunity for market-players to capture new and untapped markets.

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mHealth Market - By Region:

North America - U.S, Canada, Mexico

Europe - Germany, France, UK, Italy, Spain, Rest of Europe

Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific

Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others

mHealth Market - Regional Outlook and Trend Analysis:

North America accounted for a major share of the global mHealth market in 2016 owing to rising demand for better healthcare delivery, rapid adoption of mHealth solutions by people, extensive use of smart mobile devices such as tablets and smartphones by the people and availability of advanced internet connectivity services in the region. Asia-Pacific mHealth market is projected to witness fastest growth during the forecast period due to increasing awareness related to the use of mHealth solutions to reduce the cost of healthcare delivery which in turn aids in decreasing the burden on healthcare institutions. Also favorable government initiatives to promote adoption of mHealth services will also contribute to the market-growth over the forecast period.

mHealth Market - List of Tables:

Table 1.mHealth Market, By Product ($Million), 2016-2025
Table 2.Vital Signs Monitoring Devices Market, By Type ($Million), 2016-2025
Table 3.Vital Signs Monitoring Devices Market, By Region ($Million), 2016-2025
Table 4.Blood pressure Monitors Market, By Region ($Million), 2016-2025
Table 5.Pulse Oximeters Market, By Region ($Million), 2016-2025
Table 6.Blood Glucose Meters Market, By Region ($Million), 2016-2025
...

mHealth Market - List of Figures:

Figure 1.mHealth Market Share, By Product, 2016 & 2025
Figure 2.mHealth Market Share, By Service, 2016 & 2025
Figure 3.mhealth Market Share, By Region, 2016 & 2025
Figure 4.Medtronic plc: Net Revenues, 2014-2016 ($Million)
Figure 5.Medtronic plc: Net Revenue Share, By Segment, 2016
...

BENEFITS OF mHEALTH -

• Standardization of data: The medical analysis need to be in a standard form if it is to be easily accessible and understandable by all.

• Integration of data streams: Data can be acquired from many devices like a cardiac pacemaker or glucose monitoring device, mHealth makes it possible to see all the information visually in a comfortable setting.

• Sharing data: Sharing data is very crucial to a patient as the reports can be shared to an over-sees doctor who can provide instantaneous but crucial advice concerning the patient.

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Key Findings of the Research Study:

• Vital signs monitoring segment held the largest share of mHealth market in 2016 owing to the associated convenience of these devices for the patients in monitoring their vital health parameters personally eliminating the need to visit a physician.

• In the mHealth apps segment, the healthcare apps sub-segment accounted for a majority market-share in 2016 as such consumer-centric apps are being rapidly adopted around the world for regularly monitoring heath status by consumers.

• North America held the largest share of the global mHealth market in 2016 owing to factors such as rapid adoption of mHealth devices and mobile apps by the population, presence of robust internet connectivity in the region along with extensive penetration of smart mobile devices such as tablets and smartphones.

• Asia-Pacific mHealth market is expected to grow with the highest CAGR throughout the forecast period owing to increasing demand for mHealth solutions such as wearable health devices in the region along with favorable government initiative to promote adoption of mHealth solutions.

Continued…

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