Global mHealth Market was valued at $10.5 billion in 2014 and is expected to grow at a CAGR of 33.5% during 2015-2020. The mHealth market is in its nascent stage and is expected to yield significant revenues with increasing awareness and favorable regulatory impositions specific to the quality and feasibility of mobile-based medical devices. Penetration of mobile phones in healthcare segment has had a significant impact on the overall healthcare industry.
Currently mobile penetration is more than 100% in developed markets and is expected to increase in developing markets such as Asia-Pacific, Latin America and Africa. Additionally, increasing exposure to smartphones along with 3G and 4G networks will further increase the use of mobile platforms in most of the sectors, especially in the healthcare systems.
Get Access to TOC / Sample Report @ https://www.alliedmarketresearch.com/request-sample/676
Some of the other factors responsible for substantial market growth include low cost and convenience of medical devices, technological innovations, integration of wireless technologies, and affordability of smartphones, government initiatives and increasing lifestyle diseases. Factors such as lower adoption due to lower accuracy, nascent technology in underdeveloped economies, limited reimbursement coverage, lack of technological awareness among the ageing population and uncertainty in government regulations are restricting market growth to a certain extent.
The growth of mHealth device market is mainly attributed to the high revenue generated from blood glucose meters, cardiac monitors and BP monitors, which collectively accounted for 5/7th of the global mHealth devices revenue in 2015. This is attributed to the growing number of cardiac and BP disorders. BP monitors is the highest revenue generating segment in global mHealth devices market, whereas, blood glucose monitor is the fastest growing segment. Cardiac monitors market is the third largest segment growing with a CAGR of 37.5% during the forecast period.
Global mHealth services market consists of diagnostic services, monitoring services, treatment, prevention and wellness & healthcare system strengthening solutions. The global mHealth service market is projected to grow at a CAGR of 32.2% during the analysis period. The growth of mHealth services market is attributed to rising revenues generated from monitoring services market. The rising adoption of monitoring services for chronic disease management, post-acute care management as well as aging population are supporting the monitoring services market growth. Going forward, diagnosis services and wellness & healthcare system strengthening solution collectively accounted for about 48% of global mHealth services market. The growth of these segments is attributed to the increased awareness about fitness & general wellness, growing government initiatives and rise in physician’s acceptance. Geographically, North America is expected to be the largest revenue-generating region for monitoring services market followed by Europe and Asia Pacific. Monitoring services are largely adopted in developed regions such as North America and Europe; however, Asia Pacific will generate significant level of revenue by 2020. This is mainly due to the increase in awareness of diseases and higher penetration of mobile platform in Asia Pacific region.
mHealth stakeholders market consist of mobile operator, healthcare providers, application/content players and device vendors. Mobile operators are the most crucial players in the overall mHealth stakeholders market. North America is expected to be the largest revenue-generating region, mainly due to well-penetrated healthcare system.
Global mHealth market further segmented into applications, which consists of cardiovascular disease, diabetes, respiratory diseases, neurological diseases and others. Cardiovascular segment was the largest revenue-generating segment, whereas, Diabetes, is the fastest growing segments registering a CAGR of 35.4% during the forecast period.
Send Enquiry on this report @ https://www.alliedmarketresearch.com/purchase-enquiry/77
Key finding of mhealth Market:
- Blood glucose meters are projected to be the fastest growing segment in mHealth devices market registering a CAGR of 41% during the forecast period
- United States continueto be the leading market in the North America mHealth market throughout the forecast period
- Asia-Pacific is projected to be the fastest growing mHealth market registering a CAGR of 35.9% during 2015-2020
- United Kingdome, France and Germany collectively accounts to 45% share in the Europe mHealth device market in 2014
- Cardiovascular and diabetes mHelath application market remains the lucrative market segment for manufacturers
Allied Market Research, a market research and advisory company of Allied Analytics LLP,
provides business insights and market research reports to large as well as small &
medium enterprises. The company assists its clients to strategize business policies and
achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection
to investment advice. The analysts at Allied Market Research dig out factors that help
clients to understand the significance and impact of market dynamics. The company
amplies client’s insight on the factors, such as strategies, future estimations, growth
or fall forecasting, opportunity analysis, and consumer surveys among others. As
follows, the company offers consistent business intelligent support to aid the clients
to turn into prominent business firm.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: +1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060