mHealth Market to observe 30%+ gains to 2023
Date: 2018-10-08   Author: Ronak Bora  Category: #news

mHealth Market to observe 30%+ gains to 2023

North America mHealth market accumulated around 30% of the overall industry share in 2014. The spur in the region can be attributed to flourishing number of live health and pilot projects in the U.S. and Canada. Increasing number of health and wellness apps coupled with rising smartphones adoption among the population is expected to drive the region over the forecast period. Mobile telemedicine is likely to benefit emerging nations through video calls with rural health centres and healthcare professionals. Diagnosis service includes IVR-based services or call centre services along with mobile telemedicine services.

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mHealth market size was estimated at over USD 4.8 billion in 2015 and it is anticipated to exceed USD 60 billion by 2023 growing at a CAGR of over 30% from 2016 to 2023. Rising awareness regarding preventative medication is expected to drive the industry growth.

It offers various services such as healthcare system strengthening, diagnosis and monitoring. Furthermore, it provides services related to prevention as well as wellness such as elderly care, drug abuse prevention, child care, smoking de-addiction and healthy living. Monitoring services accounted for more than 60% of the overall industry share in 2014. Diagnosis services help healthcare experts to distantly connect with their patients and thus offer diagnosis of illness and other health issues.

The mHealth market can be segmented on the basis of service, connected devices and participants. Based on service the industry can be segregated into diagnosis services, healthcare system strengthening services and monitoring services. Healthcare systems strengthening can be further segmented into emergency response, healthcare practitioners support and healthcare surveillance and administration. On the basis of application the industry can be further segregated as women’s health, weight loss, medication and personal health record.

Monitoring services can also be segregated as chronic disease management, post acute care services, independent aging solutions along with devices such as body trackers that aids in monitoring vital health signs. On the basis of connected devices it can be segmented as glucose meter, blood pressure monitor and pulse oximeter. Based on participants the industry can be segmented into device vendors, mobile operators, content players and healthcare providers.

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Asia Pacific mHealth market size is anticipated to witness significant growth due to increasing rural population. In addition, lack of medical practitioners in the region is likely to open new avenues for profit generation. Developed countries such as Japan, Singapore, South Korea and Australia are anticipated to furnish numerous growth opportunities owing to rising per user expenditure. Emerging nations are likely face challenges due to scarcity of healthcare delivery infrastructure along with lack of skilled professionals during 2016 to 2023.

Key industry participants occupying major mHealth market share include AT&T, Vodafone, Allscripts Healthcare Solutions, mQure, Apple Inc., Samsung Electronics Corporation, Omron HealthCare Inc., Philips healthcare, Bayer Healthcare, Cardionet Inc., LifeWatch, Masimo Corporation, Boston Scientific, Sanofie, and Qualcomm Inc.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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