mHealth Market is Expected to Reach 217 billion by 2025: Medtronic plc, Omron Healthcare, Inc., Koninklijke Philips N.V, AliveCor, Inc., Nokia Corporation, LifeWatch AG (acquired by BioTelemetry, Inc.)

Industry 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.

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.

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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.

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.

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 Segmentation:

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

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By mHealth Service:
Remote Monitoring Services
Treatment Services
Fitness & Wellness Services
Diagnosis & Consultation Services
Healthcare System Strengthening Services
Prevention Services

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