Published Date : Feb 06, 2018
ALBANY, New York, February 6, 2018 – On the back of growing ubiquity of smartphones, innovations are in full flow to devise new tools that can improve various aspects of daily life. Consequently, the mHealth market is prospering, which primarily relates with providing fitness and wellness information to individuals and caregivers on a real-time basis. According to a recent business and commerce study acquired by MarketResearchReports.biz, the demand in the global mHealth market will multiply at a phenomenal CAGR of 22.1% during the forecast period of 2017 to 2025. The analysts of the report have estimated that there will be opportunities worth US$118.4 bn in the mHealth market across the world by the end of 2025, substantially up from its evaluated valuation of US$23.9 bn in 2017.
This report on the global mHealth market is a quantitative and qualitative study of how the demand is evolving in this relatively new segment of the healthcare industry and what its growth prospects are. Embarking with an executive summary that broadly elaborated the finer aspects of the market, the report contains in-depth reports of all factors such as opportunities, trends, driver, and challenges that will determine the demand in the near future. Understanding the need to highlight most profitable avenues of the market, the report segments the mHealth market on the basis of product and end-user. Geographically, the report evaluates the potential of demand that can be expected out of every important region and country. To complete a thorough study, the report included a featured section on the competitive landscape of the global mHealth market, wherein several leading players have been profiled for their market presence on the basis of each segments, revenue and operating profits, SWOT reports, and recent strategic decisions.
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Increasing number of government initiatives to provide efficient and transparent healthcare to their citizens, strategic acquisitions that are enabling product distribution in underprivileged regions, rising incidences of cardiovascular diseases and diabetic, increasing collaboration between companies for technological advancements, and growing adoption of mHealth products by caregivers are some of the key factors augmenting the demand in the global mHealth market. On the other hand, the analysts have detected factors such as cyber threat and challenges in measuring the outcome of the solutions are some of the restraints obstructing the market from flourishing. Nevertheless, growing adoption among small and medium sized healthcare centers, increase in demand for mobile applications, emergence of digital therapeutics business, and venturing funding are expected to open new revenue avenues in the near future.
Based on product, the mHealth market has been segmented into connected medical devices, mHealth applications, and mHealth services. The connected medical devices segment is further sub-segmented into activity monitors, heart rate monitors, fetal monitoring, electrocardiograph, and neuromonitoring. Currently, the connected medical devices segment provides for the maxium chunk of demand. Additionally, the mHealth applications segment has been bifurcated into diabetes, fitness and wellness, central nervous system diseases, cardiovascular diseases, smoking cessation, musculoskeletal diseases, respiratory diseases, and medical adherence. On the basis of end user, the market has been classified into B2B including patients and caregivers and B2C including employers, payers, and providers.
Geographically, the analysts highlight North America are the existing lucrative region while Asia Pacific is projected for a higher CAGR during the forecast period, gaining traction from the improvements in healthcare infrastructure in emerging economies such as China, India, Japan, and South Korea.
Withings, Jawbone, FitBit, Inc., Dexcom, Inc., and Apple Inc. are some of the key companies currently ahead of the curve in the global mHealth market.
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