mHealth (Mobile Healthcare) Market Is Forecasted To Grow At A CAGR of More Than 35% By 2020: Hexa Reports

With more than 7 Billion mobile network subscriptions worldwide, the mobile communications sector is rapidly gaining traction from a diverse range of vertical sectors. Healthcare is no exception to this trend.

As healthcare service providers seek to maximize their patient outreach while minimizing costs, many view mobile healthcare (or mHealth) as the solution to improve healthcare cost–efficiency. mHealth refers to the usage of mobile communications technology and devices to enhance access to healthcare information, improve distribution of routine and emergency health services, and provide diagnostic services.

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Mobile operators also view mHealth as a lucrative opportunity for the monetization of their mobile connectivity services as a growing proportion of their subscribers adopt healthcare centric wearables. Given that most operators have established themselves as reputable consumer brands, they are also eyeing at opportunities to offer services beyond simple connectivity. Many operators already offer branded or co-branded end-to-end mHealth solutions to their customer bases.

In addition, mHealth offers a multitude to opportunities to the pharmaceutical industry ranging from enhanced R&D activities and medication adherence to securing the supply chain and combating counterfeit drugs.

Driven by the thriving ecosystem, the mHealth market will account for over $23 Billion in 2017 alone. Despite barriers relating to regulation, patient acceptance and privacy concerns, further growth at a CAGR of more than 35% over the next three years.

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The “mHealth (Mobile Healthcare) Ecosystem: 2017 – 2030 – Opportunities, Challenges, Strategies & Forecasts“ report presents an in–depth assessment of the global mHealth market. In addition to covering key market drivers, challenges, future roadmap, value chain analysis, deployment case studies, service/product strategies and strategic recommendations, the report also presents comprehensive forecasts for the mHealth market from 2017 till 2030. The forecasts and historical revenue figures are individually segmented for 5 individual submarkets, 29 use case categories, 5 ecosystem player categories, 6 geographical regions and 34 countries.

Key Findings

The report has the following key findings:

• Driven by the thriving ecosystem, the mHealth market will account for over $23 Billion in 2017 alone. Despite barriers relating to regulation, patient acceptance and privacy concerns, further growth at a CAGR of more than 35% over the next three years.
• While the use of mHealth devices and apps is already widespread in clinical trials, pharmaceutical giants are now setting their sights on connected drug delivery platforms that will automatically detect and log patients’ medication use to improve adherence.
• The mHealth centric wearable devices will account for over 60 Million unit shipments by the end of 2017. In order to gain valuable insights from the data generated by these devices, healthcare service providers and other stakeholders are increasingly investing in Big Data and analytics technology.
• mHealth has the potential to dramatically reduce the costs of healthcare operations, while improving the quality of healthcare. By the end of 2017, mHealth could represent up to $370 Billion in annual healthcare cost savings worldwide.

Key Questions Answered

The report provides answers to the following key questions:

1. What are the key market drivers and challenges for mHealth?
2. What are the key applications of mHealth?
3. How is the mHealth value chain structured and how will it evolve overtime?
4. How big is the mHealth market, and how much revenue will it generate in 2020?
5. What will be the installed base of IoT connections for mHealth applications in 2020?
6. How many mHealth centric wearable devices will be shipped in 2020?
7. Which regions, countries and submarkets will see the highest percentage of growth?
8. Who are the key market players and what are their strategies?
9. What level of cost savings can mHealth facilitate for healthcare service providers in each region?
10. What are the key applications of LTE and 5G networks in the mHealth market?
11. What considerations should be taken into account to devise a successful mHealth strategy for a hospital?
12. What strategies should mobile operators, enabling technology providers, mHealth device OEMs, healthcare service providers, pharmaceutical companies and application developers adopt to capitalize on the mHealth opportunity?

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