Press release
Mobile Health Market Is Increasing Faster to Reach $58.8 Billion and Predicted to Show Highest Growth Rates by 2024
mobile Health
The global mHealth market was estimated at $10.57 billion in 2014 and is expected to hit $58.80 billion by 2024, growing at a CAGR of 33.5% during 2015-2020. The report provides a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
Integration of wireless technologies with portable healthcare devices, cost and convenience factors, high-end innovations in technology, government initiatives, and affordability of smartphones have fueled the growth of the global mHealth market. On the other hand, lower adoption across developing economies, weak reimbursement coverage, technological awareness among the ageing population, and uncertainty in government regulations hamper the growth to certain extent. However, untapped market of developing economies is expected to create multiple opportunities in the segment.
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Based on devices & services, the mHealth services segment held the largest share in 2014, accounting for more than two-third of the total market. Simultaneously, the mHealth devices segment is expected to grow at the highest CAGR of 36.4% during the study period.
Based on application, the cardiovascular segment accounted for more than half of the total market share in 2014 and is anticipated to retain its top status during the analysis period. At the same time, the neurology segment would register a CAGR of 38.8% through 2015-2020.
Based on geography, North America contributed to two-fifth of the total market share in 2014 and is expected to dominate through 2015-2020. The Asia-Pacific region, on the other hand, is projected to garner the highest CAGR of 35.9% during the estimate period.
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The Major market players Are:
o Philips healthcare
o Omron HealthCare Inc.
o Bayer Healthcare
o LifeWatch
o Cardionet Inc.
o Masimo Corporation
o Sanofi
o Boston Scientific
o AT&T Inc.
o Johnson & Johnson.
Key finding of mobile health Market:
o Blood glucose meters are projected to be the fastest growing segment in mHealth devices market registering a CAGR of 41% during the forecast period
o United States continueto be the leading market in the North America mHealth market throughout the forecast period
o Asia-Pacific is projected to be the fastest growing mHealth market registering a CAGR of 35.9% during 2015-2020
o United Kingdome, France and Germany collectively accounts to 45% share in the Europe mHealth device market in 2014
o Cardiovascular and diabetes mHelath application market remains the lucrative market segment for manufacturers
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