Acumen Research and Consulting, a global provider of market research studies, in a latest published report titled “mHealth Monitoring Diagnostic Medical Devices Market, Global Industry Analysis, Market Size, Opportunities and Forecast, 2021 – 2028”
The global mHealth monitoring diagnostic medical devices market is expected to reach the market value of around US$ 263 Bn by 2028 and is anticipated to grow at a CAGR of around 20.8% in terms of revenue during the forecast period 2021 – 2028.
mHealth is a mobile health abbreviation, a term used in general education and public health that is assisted by mobile apps. It is most widely used in reference to the use of mobile communications devices for health care and information, such as cell phones, tablets, computers, and PDAs. The current scenario as well as the potential business opportunities of mHealth diagnostic products, such as medical devices with embedded plug-ins for compatibility with devices such as smartphones and tablets, will be analyzed globally in this study. Picked into seven main items, including glucose sensors, blood pressure monitors, pulse oximeters, cardiac monitoring, sleep apnea monitors, multi-parameter tracking equipment, and other instruments (fetal monitors, neurologic monitors), the mHealth medical tools and tracking systems segment.
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In 2019, Asia Pacific led the market with the highest share of near about 45.0% due to the increasing demand for mHealth intervention for healthcare needs. Through its developed healthcare IT infrastructure and increasing spending in digital health sectors, countries such as Singapore, Australia, and South Korea show considerable potential. The growing population and persistent demand for m-health technology in the area are also pushing the growing burden of the geriatric population in China and Japan.
The growing number of mobile users is largely due to the high pace in digitization of the Asia-Pacific region. Increasing numbers of policy digitalization projects are projected to propel modern health care approaches, such as mHealth systems, in developing economies like India and China. Nevertheless, the digitization of health care in emerging regions can be delayed by factors such as low mHealth awareness, lack of computer literacy, limited network penetration, and data protection concerns.
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The dynamic existence of healthcare regulatory enforcement and common risk factors press for mHealth instruments to be approved. Wearable apps for medical uses are increasingly approved, which further fuel competition for mHealth products in the ecosystem. The involvement of patients with personal care and the introduction of connected health solutions in the health market are the main drivers of market growth for the patient and are the advantages of cost-effectiveness, patients convenience, and lifestyle disease increase. Nevertheless, the growth of the industry will be limited by an increased degree of privacy and cybercrime, and lack of knowledge of new health applications, and reluctance to exchange health information.
B2C Segment to be Highly Lucrative Segment
The global B2C and B2B market is split into end-users, mHealth Monitoring Diagnostic Medical Products. During the forecast era, the B2C category is expected to be experiencing high growth as patients become more conscious and follow IT medical care goods. Therefore, the patient sub-segment’s market share is superior over other caregivers and is expected to grow during the service era. This segment is anticipated to be improved by the expanded proliferation of numerous software and Web-based tools for patients to access and store diagnostic data and to view electronic medical examination results.
The global mHealth monitoring diagnostic medical devices market includes prominent players such as Omron Healthcare, FitBit, Inc., Apple, Inc., Medtronic, Inc., Bayer HealthCare, BioTelemetry, Inc. (CardioNet, Inc.), LifeWatch AG, DexCom, Inc., Boston Scientific Corporation, iHealth Labs, Inc., AT&T, Inc, Johnson & Johnson, F. Hoffmann-La Roche Ltd., Masimo Corporation, Fora Care Inc, Dräger AG, Medisana AG, Nonin Medical, Inc., Withings (Nokia), Firstbeat Technologies Ltd., and others.
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• In July 2020, Dräger expands capacity for respiratory masks and sets up a production facility in the UK
• In June 2020, Dräger expands production of FFP masks in Europe
• In August 2019, Dräger acquires a stake in Canada-based software company Focus FS
• M-health device manufacturer
• Application developing companies for mHealth devices
• M-health device vendors
• Mobile Health Market research and consulting service providers
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