MHealth Solutions Market worth 90.49 Billion USD by 2022
According to the new market research report "mHealth Solutions Market by Connected Devices (Blood Pressure Monitor, Glucose Meter, Peak Flow Meter) Apps (Weight Loss, Woman Health, Personal Health Record, & Medication) Services (Diagnostic, Remote Monitoring, Consultation) - Global Forecasts to 2022", The global mHealth solutions market is expected to reach USD 90.49 Billion by 2022 from USD 21.17 Billion in 2017, at a CAGR of 33.7%.
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Factors driving market growth include the increasing penetration of smartphones, tablets, and other mobile platforms, increasing utilization of connected devices and mHealth apps for the management of chronic diseases, and the rising cost containment in healthcare delivery. In addition, the penetration of 3G and 4G networks for uninterrupted healthcare services and rising focus on patient-centric healthcare delivery further increases the demand for mHealth solutions in the healthcare industry.
By product and service, the connected devices segment accounted for the largest share of the market in 2016
On the basis of product and service, the mHealth solutions market is segmented into connected medical devices, mHealth applications, and mHealth services. In 2016, connected medical devices accounted for the largest share of the mHealth solutions market, mainly due to the increasing incidence of chronic diseases and lifestyle-associated diseases requiring continuous health monitoring and the shifting consumer preferences towards a healthier lifestyle.
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Within connected medical devices segment, the vital signs monitoring devices accounted for the largest share of the market
The connected medical devices market is further segmented into consumer health devices and clinical devices. Clinical devices segment is categorized into vital signs monitoring devices, peak flow meters, neurological monitoring devices, sleep apnea monitors, multi-parameter trackers, and others. In 2016, vital signs monitoring devices accounted for the largest share of of the global connected medical devices market. This is attributed to the rise in prevalence and incidence of diabetes and cardiovascular diseases across the globe and increasing adoption of continuous glucose monitoring (CGM) systems and various health monitoring devices.
Within mHealth applications segment, the healthcare applications accounted for the largest share of the market
The mHealth applications market is segmented into healthcare applications (designed for patients) by activity, and medical applications (designed for professionals). In 2016, the healthcare applications accounted for the largest share of the mHealth applications market. This growth is attributed to the factors such as increasing number of people using smart phones, the increasing preference for personal health and wellness app for self-health management and the increasing need for tracking daily activities and various health conditions of patients leading to the rising adoption of healthcare apps.
Within mHealth services segment, the remote monitoring services is expected to register the highest CAGR during the forecast period
On the basis of mHealth services, the market is categorized into remote monitoring, diagnosis services, treatment services, consultation services, fitness and wellness services, prevention services and healthcare system strengthening services. The remote monitoring services segment is expected to register the highest CAGR in the mHealth solutions market. The large share can be attributed to the increasing adoption of remote monitoring solutions by patients in remote rural areas and technological advancements in medicine and telecommunication.
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North America dominated the market in 2016
In 2016, North America dominated the global mHealth solutions market. The increasing demand for better healthcare services, government initiatives for digital health, stringent regulations regarding patient safety and patient care, and increasing number of smartphone users coupled with the rising awareness of self-health management are driving the growth of the mHealth solutions market in this region.
The key players in the mHealth solutions market are Medtronic plc (Ireland), Apple, Inc. (U.S.), AirStrip Technologies, Inc. (U.S.), AliveCor, Inc. (U.S.), LifeWatch AG (Switzerland), Nike Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Jawbone (U.S.), OMRON Corporation (Japan), Withings (France), BioTelemetry Inc. (U.S.), athenahealth, Inc. (U.S.), AgaMatrix, Inc. (U.S.), iHealth Lab, Inc. (U.S.), AT&T (U.S.), Qualcomm (U.S.), Cerner Corporation (U.S.), and Cisco Systems, Inc. (U.S.), and Nokia Corporation (Finland).
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