mHealth Market Outlook 2017-2024:
Global mhealth market leading players are Bayer Healthcare, LifeWatch AG, Masimo Corporation, Omron Healthcare, AT&T Inc., Philips Healthcare, Sanofi, Boston Scientific, and Johnson & Johnson. These players have incorporated different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.
Integration of wireless technologies with portable healthcare devices, cost and convenience factors, high-end innovations in technology, government initiatives, and affordability of smartphones have fueled the growth of the global mHealth market. On the other hand, lower adoption across developing economies, weak reimbursement coverage, technological awareness among the ageing population, and uncertainty in government regulations hamper the growth to certain extent. However, untapped market of developing economies is expected to create multiple opportunities in the segment.
According to the report published by Allied Market Research, the global mobile Health market was estimated at $10.57 billion in 2014 and is expected to hit $58.80 billion by 2024, growing at a CAGR of 33.5% during 2015-2020. The report provides a detailed analysis of top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
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The mHealth services segment to rule the roost-
Based on devices & services, the mHealth services segment held the largest share in 2014, accounting for more than two-third of the total market. Simultaneously, the mHealth devices segment is expected to grow at the highest CAGR of 36.4% during the study period.
The cardiovascular segment to lead the trail till 2020-
Based on application, the cardiovascular segment accounted for more than half of the total market share in 2014 and is anticipated to retain its top status during the analysis period. At the same time, the neurology segment would register a CAGR of 38.8% through 2015-2020.
“Blood pressure monitors hold the largest share in the global mHealth device market followed by blood glucose monitors and cardiac monitors. Geographically, North America will continue to retain its leading position in the overall mHealth market throughout the analysis period.”
North America to maintain its dominance throughout the forecast period-
Based on geography, North America contributed to two-fifth of the total market share in 2014 and is expected to dominate through 2015-2020. The Asia-Pacific region, on the other hand, is projected to garner the highest CAGR of 35.9% during the estimate period.
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