Growing Popularity of IoT and Wearable Devices Spurs Widespread Adoption of Mobile Healthcare (mHealth)

Published Date : Dec 05, 2016

Albany, NY, Dec 05, 2016: The rapidly expanding mobile communications sector owes it growth to a massive mobile network subscriber base, which presently stands at over seven billion. A report added to the vast repository of finds that the application of mobile communications across a wide range of sectors, including the healthcare industry, has brought about the revolutionary concept of mobile healthcare (mHealth). The 424-page report, titled “The MHealth (Mobile Healthcare) Ecosystem: 2017 - 2030 - Opportunities, Challenges, Strategies & Forecasts”, studies the present and future state of the overall market, offering sharp insights on the same. 

Offering a detailed evaluation of the worldwide market for mHealth, the report highlights the main drivers and restraints impacting the scenario. Service and product strategies, future prospects, value chain reports, recommendations by leading experts, and deployment case studies have been included in the publication. Historical as well as future revenue figures have been provided for the various end-use, ecosystem, submarket, and regional categories. 

mHealth offers a host of key advantages, of which, improved healthcare cost-efficiency is of utmost significance. As a result, healthcare service providers have been turning to mHealth solutions to reduce costs and at the same time, increase their patient outreach. mHealth solutions also enhance the distribution of emergency and routine health services, improve access to healthcare information, and offer a range of effective diagnostic devices. In the pharmaceutical sector, mHealth presents a host of opportunities right from tackling counterfeit drugs and securing the supply chain to ensuring medication adherence and improved R&D activities. 

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On account of these benefits, the global market for mHealth solutions is slated to register a revenue of US$23 bn in 2017 alone. The report predicts that the market will expand at an astounding 35.0% CAGR in the coming three years. This growth rate is estimated to stay strong despite various challenges such as privacy concerns, low patient acceptance, and regulatory barriers. In fact, recent trends such as the growing penetration of the Internet of Things (IoT) and wearable devices, the rising adoption of cloud-based services, and the increasing focus on the deployment of LTE/5G networks are anticipated to render the mHealth market a major boost. 

The report studies the global market for mobile healthcare based on five leading applications: information and healthcare management, pharmaceutical, remote diagnostic and consultation services, healthcare and fitness, and wearable technology, IoT, monitoring, and sensors. The main players in the mHealth ecosystem include mobile and mHealth device OEMs, mobile operators and connectivity providers, healthcare service providers, content and application providers, and the pharmaceutical industry. The global mHealh market comprises several geographical segments, namely Western Europe, Eastern Europe, Asia Pacific, North America, Latin America, and the Middle East and Africa. The report also studies several country-wise markets, identifying the leading contributors and those that hold immense promise. 

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