Agamatrix, INC, Alivecor, INC, Apple, INC, Athenahealth INC, AT&T, INC, Biotelemetry INC. (CARDIONET), GE Healthcare, Google INC, Jawbone INC, Johnson & Johnson, Laboratory Corporation of America Holdings, Philips Healthcare are some of the prominent players at the forefront of competition in the global mHealth Market and are profiled in MRFR Analysis.
Global mHealth Market – Overview
The dynamic nature of the regulatory compliances in the healthcare industry and reduced risk factors are pushing the acceptance of mHealth devices. There is a growing acceptance of wearable devices pertaining to medical applications is further propelling the demand of mHealth devices across the ecosystem.
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m-Health enables various electronic health (e-health) data content and services to users, by using wireless technologies such as WiMax, Bluetooth, GSM/GPRS/3G, and WiFi among others. These devices are deployed for monitoring, diagnosis, and treatment applications that augment the chances of better healthcare and fitness systems. These devices work as a guiding framework to record the data by the patient and send it to the healthcare providers for feedback. The market is forecasted to demonstrate a spectacular growth by 2022. The global mHealth market is expected to grow at an estimated CAGR of 35.03% from 2017 to 2022.
Global mHealth Market – Competitive Analysis
The m-health devices market has turned into a critical factor in the global connected healthcare industry. Through extensive research it is found out that the market players have adopted the strategy of product launch in the market. The key players involved in this strategy are GE Healthcare, Apple Inc., and Philips. Product launch (34%) was the most widely adopted strategy which was adopted by the key market players. For example, GE Healthcare an American based multinational company involved in manufacturing medical devices, in November 2015 launched GE Health Cloud and apps to connect medical imaging with analytics and insights. They are designed exclusively for the healthcare industry, the new cloud ecosystem and its applications will connect radiologists and clinicians to speed, efficiency and collaboration across care pathways and multidisciplinary teams – both inside and outside the hospital setting. Furthermore, in July 2016, Philips launched CarePoint 5.0 which is an intuitive wireless health technology solution to enhance resident safety and response in senior living communities. It is a powerful, integrated, intuitive resident safety and wanders management system used by thousands of senior living communities across the U.S. and Canada to help keep their residents safe.
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CarePoint 5.0 is a truly unique system that allows senior living communities to support their best practices, protocols and management needs in an ever evolving market – showcasing Philips’s all-encompassing approach to improve care. Adding to the product launch Apple has been playing very important role in introducing new products with its updates with higher and advance version. In September 2014, Apple launches Apple Watch, its most personal device ever; featuring revolutionary new technologies and a pioneering user interface with a beautiful design and it also introduces comprehensive health and fitness apps that can help people lead healthier lives. This devices has been gaining popularity since the launch of the device. The company has been further upgrading this device and new features to it that is attracting consumer’s attention.
Global mHealth Market – Regional Analysis
The global mHealth market is segmented into four different regions namely; The Americas, Europe, Asia-Pacific (APAC), and Middle East & Africa (MEA). We can also classify regions on the basis of economic development that includes: untapped markets, emerging markets, developing markets, and the developed markets. Among all the regions in the world, the U.S. has been the first choice for the deployment of mobile health solutions due to established healthcare systems and technology advancement. The monitoring and diagnosis and treatment applications are dominating the m-health device solutions and application market. It has gained a significant position in the global m-health device market with the increase in large numbers of mobile apps usage those targets at wellness and fitness. Thus, these m-health device solutions help in cost reduction, saves time by reducing visits to physicians, and provides better healthcare systems. Furthermore, the inherent difference in various types of m-health device solutions has compelled the formation of a strong framework that provides standardized processes and approach for deploying various healthcare services and applications. This is influencing the growth of the market and reason North America holding the largest market share globally.
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