mHealth Market: How Current mHealth Trends Are Improving Healthcare | LifeWatch, KONINKLIJKE PHILIPS N.V., Medtronic, Boston Scientific Corporation, athenahealth, Inc., Honeywell Life Care Solutions

Mobile technology has expanded significantly across the globe in recent years. As per the Cisco Visual Networking Index, mobile traffic has increased four-fold in recent years and it is expected to grow exponentially in the near future. This increase in mobile traffic is seen due to advances in 3G and 4G network that has enabled utilization of smartphones and tablets in the field of commerce, entertainment, healthcare and others.

The key players operating in the field of mhealth market worldwide include LifeWatch, KONINKLIJKE PHILIPS N.V., Medtronic, Boston Scientific Corporation, athenahealth, Inc., Honeywell Life Care Solutions, Cisco Systems, Inc., OMRON Corporation, Masimo, AgaMatrix, Inc. and among others.

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The Insight Partners market research study titled ‘mHealth Market to 2025 – Global Analysis and Forecasts by Services, Devices and End User, the global mhealth market was valued at US$ 22,722.1 Mn in 2017 and is estimated to reach US$ 246,820.4 Mn by 2025. The report highlights the trends prevalent in the global mhealth market and the factors driving the market along with those that act as deterrents to its growth.

mHealth is referred to the practice of medicine and public health supported by mobile devices such as mobile phones, tablets, personal digital assistants and other wireless infrastructure. mHealth allows the education and awareness, remote monitoring, diagnostic and treatment support and other services. The global mhealth market is a mature market which is segmented on the basis of services, devices end user.

Based on services, the market is classified as remote monitoring services, diagnosis services, treatment services, health support services, fitness & wellness services and others. By devices, the mhealth market is segmented into insulin pump, BP monitor, glucose monitor, personal pulse oximeters and others. On the basis of end user segment, the market is classified as mobile operators, devices vendors, health providers and others.

The increasing acceptance of mobile health expected to propel the growth of the mhealth market in the forecast period. The mobile health is the most advanced and exciting development which is developed to widely distribute the medical information or health data to patients, in a timely manner. The ongoing progression of wireless communications technology with doubtless help bring the mHealth initiatives to maturity in the forecast period. Additionally, the other applications of mhealth including emergency response systems, patient safety systems and health extension services are the emerging trends that help to boost the demand for mhealth services.

The object of developing mhealth services is to support the long-distance clinical health care, patient & professional health-related education, public health and health administration, the wireless and electronic information and telecommunications technologies are developed. These advanced and innovative technologies known as mhealth that include live video-conferencing, store-and-forward imaging, streaming media, mobile health, terrestrial & wireless communications and the internet.

Moreover, product innovation such as increasing adoption of smartphones & other mobile platforms are also expected to propel the growth of the market. Smartphones are potentially promising tools that helps in changing the health-related behaviors and also helps to manage chronic conditions. Through using mobile communication technologies, smartphones makes healthcare practices more accessible to the public, such as healthcare information, collect health data and observe patients. The mHealth technology support treatments, disease surveillance and chronic disease management.

Among the devices, the demand for the mhealth is significantly high for insulin pumps, followed by BP monitor. Diabetes is rapidly becoming a major health widespread in most regions of the world. The insulin pumps are portable devices that are used to check the sugar level in diabetic patients. For the diagnosis of the diabetes, diabetes self-management products has been developed in the market, aimed at help to improve the lives of people with diabetes. Additionally, increased in technological advancements in the products and devices can be another factor which likely to drive the growth of the mhealth market during the forecast period.

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