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mHealth Market Expected to Grow CAGR of 33.5% by 2015 - 2020 : Allied Market Research

12-10-2018 02:03 PM CET | Health & Medicine

Press release from: Allied Market Research

mHealth Market

mHealth Market

"Blood pressure monitors account for the largest portion of the global mHealth device market, followed by blood glucose monitors and cardiac monitors. Geographically, North America will remain a leader in the overall mHealth market throughout the analysis period."

A latest report "mHealth Market to Grow at an Impressive CAGR of 33.5% During 2015 - 2020", published by Allied Market Research. Mobile health provides health services and information through mobile communication devices to address health priorities and concerns. Advanced mobile and wireless technologies have transformed the face of global healthcare services and led to the growth of the mHealth market. Increased awareness of key factors driving the continued growth of the mobile cellular network coverage, the rapid development of mobile technologies and applications, the growth of lifestyle diseases, population growth, emerging economies and mHealth markets. On the contrary, the accuracy of the technology is low, to some extent due to the inflation of middle and low income countries, the uncertainties of government regulations in certain regions, and the low adoption of the elderly population.

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The major chunk of mHealth devices market - i.e. ~71% - is collectively commanded by BP monitors, blood glucose monitors and cardiac monitors. The largest share of these monitors can be attributed to increased affordability of mobile compatible devices, integration of innovative technologies in monitoring devices and the increasing lifestyle disease such as diabetes, stroke, COPD, ischemic heart to name a few. Within mHealth services, diagnostic, monitoring and treatment services collectively hold about 74% of the market. The rapid growth of mHealth services market is attributed to rising government initiatives, increasing mHealth awareness programs in underdeveloped regions etc.

Key finding of mhealth Market:

• Blood glucose meters are projected to be the fastest growing segment in mHealth devices market registering a CAGR of 41% during the forecast period
• United States continueto be the leading market in the North America mHealth market throughout the forecast period
• Asia-Pacific is projected to be the fastest growing mHealth market registering a CAGR of 35.9% during 2015-2020
• United Kingdome, France and Germany collectively accounts to 45% share in the Europe mHealth device market in 2014
• Cardiovascular and diabetes mHelath application market remains the lucrative market segment for manufacturers

Geographically, North America and Europe constitute the two largest markets for mHealth and collectively accounted for 67% of the market revenue in 2014. They are expected to continue its hold on the global market throughout the forecast period. Early adoption of innovative technology, large patient population and high capacity to pay for services are some of the key factors responsible for the growth of mHealth market in these regions. However, the market outlook across developing economies is looking favorable and strong owing to the increasing awareness of chronic diseases, favorable government regulations and increased healthcare expenditure. Philips healthcare, Bayer Healthcare and Sanofi are some of the key companies enjoying a strong foothold in mHealth market, especially in Asian countries. Key players profiled in this report include - Philips healthcare, Omron HealthCare Inc., Bayer Healthcare, LifeWatch, Cardionet Inc., Masimo Corporation, Sanofi, Boston Scientific, AT&T Inc., and Johnson & Johnson.

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About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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