Global mHealth Market is growing at a CAGR of 33.5% from 2015 to 2020

Global mHealth Industry analysis by 2020 analyzed the world’s main region market size, share, trends, conditions, including the product price, profit, capacity, production, capacity utilization, supply, demand and industry growth rate etc.

Mobile health (mHealth) is a branch of electronic health (eHealth) that delivers revolutionized healthcare service in which communication devices are used for the remote monitoring of patients suffering from acute and chronic diseases. mHealth majorly involves the use of mobile and wireless technologies, which are deployed in monitoring and treatment of several diseases. Rising prevalence of lifestyle diseases such as diabetes, obesity, hypertension, chronic obstructive pulmonary disease (COPD and obstructive sleep apnea (OSA) and other diseases has created an impending need of technologically advanced and less time consuming methods for prevention and treatment of these diseases. According to the World Health Organization (WHO), there were an estimated 3.1 million deaths due to COPD in 2012, which accounted for around 5.6% of all deaths worldwide. Further, nearly 6.7 million deaths occurred due to stroke in 2012, which represented around 11.9% of all deaths across the globe. The continued introduction of mobile phone based medical devices such as cardiac monitors, respiratory monitors and blood glucose monitors has addressed the need of regular monitoring and treatment of diseases in the market.

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The global mHealth market was valued $10.5 billion in 2014 growing at a CAGR of 33.5% from 2015 to 2020, primarily driven by the increasing prevalence of lifestyle diseases, growing government initiatives and rising adoption of smart phones across the globe. Currently, the market is experiencing a resurgence due to the increased mobile penetration, which is more than 100% in developed markets and the similar trends in developing markets such as Asia-Pacific and Africa. Despite the mentioned benefits, low accuracy and technology infancy related to mHealth devices especially in developing and under-developed regions are the major factors limiting the growth of mHealth market.

The global mHealth market is segmented into devices, services, application, stakeholders and geography. Based on device type, the market is further segmented into blood glucose meters, BP monitors, pulse oximetry, neurological monitoring devices, apnea and sleep monitors, wearable fitness sensor device & heart rate meters and others. BP monitors hold the dominant share in device types segment, however, blood glucose meters is estimated to be the fastest growing segment in the global mHealth devices market. This is due to the factors such as incidences of hypertension, sedentary lifestyle, increasing cases of diabetes, etc. Based on services, the market is further segmented into diagnosis services, monitoring services, prevention, treatment and wellness & healthcare system strengthening solutions. Monitoring services occupy the dominant share in the mHealth services market and would register highest CAGR throughout the forecast period of 2015-2020. Based on stake holders, the market is segmented into mobile operators, device vendors, healthcare providers and application players. Mobile operators occupy the dominant share in the mHealth stakeholders market, whereas, the application players would register highest CAGR during the forecast period 2015-2020. Furthermore, based on applications, the mHealth market is segmented into cardiovascular diseases, diabetes, respiratory diseases, neurological diseases and others. Cardiovascular diseases is found to be the highest revenue generating segment, whereas diabetes is expected to register the highest CAGR during the forecast period 2015-2020.

Based on the geography, the market is segmented into North America, Europe, Asia-Pacific and LAMEA. North America holds the dominant share in the global mHealth market. Asia-Pacific is found to be the fastest growing segment.

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The players profiled in this report include - Philips Healthcare, Omron HealthCare Inc., Bayer Healthcare, LifeWatch AG, Cardionet Inc., Masimo Corporation, Sanofi S.A., Boston Scientific Corporation, AT&T Inc. and Johnson & Johnson. Product launch and collaboration are some of the key strategies adopted by the players in global mHealth market. For example, in January 2015, Masimo Corporation launched MightySat, a Fingertip Pulse Oximeter with Masimo SET Measure-through Motion and Low Perfusion Technology. Moreover, in March 2015, Omron launched smartphone connected activity tracker and fitness app.

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