The market for monitoring and diagnostic devices and services is estimated to be USD 3.62 billion in 2014 and is expected to reach USD 24 billion by 2019 with a CAGR of 46% during the period (2017 – 2022).
Global mHealth Monitoring & Diagnostic Devices and Services Market- Market Dynamics
It is estimated that three million patients worldwide are connected to some form of remote monitoring device at home and monitored by a professional caregiver. The report details several factors driving and restraining the market. Some of these are listed below.
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Some of the factors responsible for a decade of impressive growth of the market are:
Technological advances that can track patient health and inform about any vital changes in the body
Vital sign monitoring devices
In-vitro diagnostic devices
Rising patient awareness for chronic diseases
Increasing usage of mobile phones for healthcare
In spite of the scope for growth, there are factors restraining the market. These include:
Stringent regulatory norms from the government
Security concerns to maintain a secure infrastructure for the data collected from the patients
The market is segmented into cardiac monitors, diagnostic devices, diabetes management devices, and multi-parameter trackers. By geography, the market is segmented into North America, Europe, Asia-Pacific and RoW (Rest of the World). By 2017, the largest market for monitoring and diagnostic device and services will be Europe and Asia-pacific (APAC) with 30% of the market share, followed by North America (USA/ Canada) with 28% of the market share.
Among the various categories in monitoring and diagnostic devices and services market, monitoring services will account for the largest share globally, corresponding to about USD 15 billion in 2019. The market is primarily driven by solutions that aid chronic disease management and independent aging. Diagnosis services are expected to comprise nearly 15% of the mobile health market, corresponding to almost USD 3.4 billion in 2017, with most of the revenues coming from developing countries. Diagnosis services are expected to support developing countries in the healthcare sector.
Some of the key players in the market are:
Cardiac Science Corporation
Ecardio Diagnostics, LLC
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What the Report Offers
Market definition for the global mobile health monitoring and diagnostic devices and services market with information on drivers and restraints.
Market analysis for the global mobile health monitoring and diagnostic devices and services market.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a global and regional scale.
Extensively researched competitive landscape with profiles of major companies along with their market share.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
We provide you the longest market segmentation by monitoring and diagnostic device involving cardiac monitors, diabetes management devices etc.
A comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade.
Wide-ranging information provided about the leading market players, major strategies adopted by them and new products launched by them.
Some points from TOC:
1.1 Report Description
1.2 Major Stakeholders
1.3 Research Methodology
- Executive Summary
- Market Overview
3.1 Mobile healthcare ecosystem
3.2 Market Dynamics
188.8.131.52 Growing usage of Smartphones, Tablets, and Mobile Technology in Healthcare
184.108.40.206 Increasing Awareness of People For Chronic Diseases
220.127.116.11 Advanced Connectivity To Enhance Quality of Healthcare
18.104.22.168 Better Cost Efficiency
22.214.171.124 Stringent Regulations
126.96.36.199 Data Insecurity
188.8.131.52 Rapid Innovations Challenging Mobile Health Apps
184.108.40.206 Expansion in mhealth Applications
3.2.5 Porter's Five Force Analysis
220.127.116.11 Threat of New Entrants
18.104.22.168 Buyer's Bargaining Power
22.214.171.124 Supplier Bargaining Power
126.96.36.199 Internal Rivalry
188.8.131.52 Threat of Substituents
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