Global MHealth Market Report, published by Variant Market Research, forecast that the global market is expected to reach $332.7 Billion by 2025 from $30.3 Billion in 2017, growing at a CAGR of 34.9% from 2017 to 2025. By Geography, Asia-Pacific and Europe are expected to grow at a CAGR of 35.9% and 35.1%, respectively, during the forecast period.
"mHealth Market (By Devices: Pulse Oximetry, Apnea & Sleep Monitors Neurological Monitoring Devices, Wearable Fitness Sensor Device & Heart Rate Meters, Blood Glucose Meters, BP Monitors, and Other Devices; By Services: Monitoring Services, Diagnosis Services, Treatment & Wellness Healthcare System Strengthening Solutions and Prevention; By Stakeholders: Mobile Operators, Healthcare Providers, Device Vendors and Application Players; By Application: Cardiovascular Diseases, Respiratory Diseases, Diabetes, Neurological Diseases and Other Applications.; By Geography: North America, Europe, Asia-Pacific and Row) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
The global mHealth Market is mainly driven by development of construction industry globally
The factors fueling the mHealth market are increasing penetration of smartphones, rising focus on patient-centric healthcare delivery, increasing utilization of connected devices, and robust penetration of 3g & 4g networks for uninterrupted healthcare services. Additionally, cost containment in healthcare have also encouraged the market growth. However, low guidance from physicians in selecting apps and resistance from traditional healthcare providers acts as a restraint of the market growth. Moreover, increasing incidence of lifestyle disorders and growing adoption of mHealth solutions in other mobile platforms are expected to create ample of opportunities in the world mHealth market.
Devices, services, stakeholders, application and geography are the bifurcations of the global mHealth market. Devices segment comprises pulse oximetry, apnea & sleep monitors neurological monitoring devices, wearable fitness sensor device & heart rate meters, blood glucose meters, BP monitors, and other devices. On the basis of services, the segment is bifurcated into monitoring services, diagnosis services, treatment & wellness healthcare system strengthening solutions and prevention. By stakeholders, the market is segmented into mobile operators, healthcare providers, device vendors and application players. further application segment includes cardiovascular diseases, respiratory diseases, diabetes, neurological diseases and other applications.
The country wise analysis has been also covered under the scope of the report. North America covers the U.S., Canada, and Mexico. Germany, France, UK, Russia,and Rest of Europe are analyzed under the European market. India, China, Japan, and Rest of Asia-Pacific are included under the Asia-Pacific market. While RoW is bifurcated into South America, Middle East, and Africa.
BP monitors, by devicessegment led the market with major share in 2017
BP monitors contributed for the majority of the share in 2017, in the devices segment, and is expected to continue itstrend during the forecast period. In terms of growth, Blood Glucose Meters segment expected to achieve the fastest CAGR during the forecast period, owing to incidences of hypertension, sedentary lifestyles, supplement the adoption of mHealth devices, andrising count of diabetics.
Monitoring services segment is anticipated to gain the fastest CAGR
Monitoring Services is foreseen to achieve the fastest CAGR during the forecast period, owing to better access to healthcare, Improved quality of care, Peace of mind and daily assurance, and Improved support, education and feedback. Moreover, monitoring increases the capacity for physicians to treat more patients.
By stakeholders, mobile operatorssegment anticipated to gain the fastest CAGR between 2017 to 2025
On the basis of stakeholders, mobile operators occupied the largest market share in the application segment, and is likely to continue its dominance throughout the forecast period. Also, this segment is expected to attain the fastest CAGR during the forecast period 2017 – 2025. The reason being, ithas the potential to enhance productivity,increase information access and communication, and lower failure-to-respond rates.
North America accounted for the maximum share in the global mHealth market
In 2017, North America was the highest revenue generating region accounting for 37.2% of the global mHealth market share. The high penetration of mobile devices, the adoption and development of advanced technologies, developingconsumer accessibility to connected medicalappliances, and the presence of companies in this region are propelling the growth of the mHealth solutions market. Also, Asia-Pacific is likely to achieve the fastest CAGR during the forecast period, owing to increasing construction investments in the region. The high growth is attributed to rising demand to decrease the burden of the healthcare systems, rising geriatric population and the need for better healthcare services, curtail healthcare delivery prices and the numerous government initiatives for empowering affordable, efficient, and on-time delivery of quality care.
Prominent players operating in the market include Vodafone Group Plc., Telefónica S.A., Qualcomm Technologies, Inc., SoftServe Inc., MQure, SAMSUNG ELECTRONICS CO., LTD., AT&T, Apple Inc., AirStrip Technologies., and Allscripts Healthcare Solutions, among others.