Growth factors of mHealth Market pinned by the year 2015 - 2020 : AMR Report
Mobile health provides health service and information through mobile communication devices to address the health priorities and concerns. The advanced mobile and wireless technologies have transformed the face of healthcare services across the globe and are rendering the growth of mHealth market. Moreover, the continued growth in coverage of mobile cellular networks, rapid advances in mobile technologies & applications, increasing lifestyle diseases and growing awareness among patient population in emerging economies, are some of the key factors fostering the growth of mHealth market. On contrary, the lower accuracy of the devices, technology's infancy in middle and lower income economies, weak reimbursement coverage, uncertainty in government regulations in certain regions, and low adoption among ageing population is hampering the market growth to a certain extent.
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
Currently mobile penetration is more than 100% in developed markets and is expected to increase in developing markets such as Asia-Pacific, Latin America and Africa. Additionally, increasing exposure to smartphones along with 3G and 4G networks will further increase the use of mobile platforms in most of the sectors, especially in the healthcare systems.
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The growth of mHealth device market is mainly attributed to the high revenue generated from blood glucose meters, cardiac monitors and BP monitors, which collectively accounted for 5/7th of the global mHealth devices revenue in 2015. This is attributed to the growing number of cardiac and BP disorders. BP monitors is the highest revenue generating segment in global mHealth devices market, whereas, blood glucose monitor is the fastest growing segment. Cardiac monitors market is the third largest segment growing with a CAGR of 37.5% during the forecast period.
Global mHealth services market consists of diagnostic services, monitoring services, treatment, prevention and wellness & healthcare system strengthening solutions. The global mHealth service market is projected to grow at a CAGR of 32.2% during the analysis period. 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. Going forward, diagnosis services and wellness & healthcare system strengthening solution collectively accounted for about 48% of global mHealth services market. The growth of these segments is attributed to the increased awareness about fitness & general wellness, growing government initiatives and rise in physician’s acceptance. Geographically, North America is expected to be the largest revenue-generating region for monitoring services market followed by Europe and Asia Pacific. Monitoring services are largely adopted in developed regions such as North America and Europe; however, Asia Pacific will generate significant level of revenue by 2020. This is mainly due to the increase in awareness of diseases and higher penetration of mobile platform in Asia Pacific region.
mHealth stakeholders market consist of mobile operator, healthcare providers, application/content players and device vendors. Mobile operators are the most crucial players in the overall mHealth stakeholders market. North America is expected to be the largest revenue-generating region, mainly due to well-penetrated healthcare system.
Global mHealth market further segmented into applications, which consists of cardiovascular disease, diabetes, respiratory diseases, neurological diseases and others. Cardiovascular segment was the largest revenue-generating segment, whereas, Diabetes, is the fastest growing segments registering a CAGR of 35.4% during the forecast period.
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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.
Key Benefits mHealth Market:
• The report covers a quantitative analysis of the current market scenario, size and estimations through 2014-2020 for mobile health market. The data would enable the stakeholders to capitalize on prevailing market opportunities as a result of health information systems.
• The mobile health market scenario is comprehensively analyzed based on key regions
• The report profiles the prominent market players and highlights their key strategies to stay ahead in the mHealth industry which helps in understanding the competitive outlook of the market.
• Extensive analysis of the mobile health market size is conducted by closely following key product positioning and monitoring the top contenders within the market framework
• Comprehensive analysis of factors that drive and restrict the growth of the m-health market is provided in the report
• Exhaustive analysis of the mHealth industry, by device type, helps in understanding the types of devices that are presently used, along with the variants that would gain prominence in future
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