Global mHealth Market – Analysis and Forecast (2018-2024)

Industry Insights by Product and Services (Connected Medical Devices (Clinical Devices (Vital Signs Monitoring Devices, Multiparameter Trackers, Neurological Monitoring Devices, Peak Flowmeters, Sleep Apnea Monitors, Fetal Monitoring Devices and Other Clinical Devices) and Consumer Health Devices), mHealth Services (Diagnosis & Consultation Services, Healthcare System Strengthening Services, Remote Monitoring Services, Fitness & Wellness Services, Treatment Services, and Prevention Services), and mHealth Apps (Healthcare Apps (Medication Management Apps, General Health & Fitness Apps, Personal Health Records Apps, Chronic Care Management Apps, Women’s Health Apps, and Other Healthcare Apps), and Medical Apps(Patient Management & Monitoring Apps, Medical Reference Apps, Communication & Consulting Apps, and Continuing Medical Education Apps))), and by Stakeholders (Healthcare Provider, Content Players, Mobile Operator, and Device Vendor)

Status : Upcoming
Report Code : VRHC1086
Available Format : PDF
Industry : Healthcare

Industry Overview

mHealth is the usage of mobile information and communication technologies for improving healthcare. It is used in various healthcare purposes such as electronic payments, information system, health promotion and illness prevention, and training and supervision. The global mhealth market is growing at a significant rate, due to mounting access of smartphones, tablets, and other mobile platforms, and escalating emphasis on patient-centric healthcare delivery.

Different product and services such as connected medical devices, mhealth services, and mhealth apps contributed to the mhealth market size. The market has witnessed a high demand for connected medical devices due to the mounting occurrence of lifestyle associated diseases and lifestyle associated diseases.

Market Segmentation

Insight by Product and Services

On the basis of product and services, the market is subdivided into connected medical devices, mhealth services, and mhealth apps. Of all product and services, connected medical devices segment accounted the largest share in the market, due to the mounting occurrence of lifestyle associated diseases and lifestyle associated diseases, and need for continuous monitoring of various health conditions.

The connected medical devices are further subdivided into clinical devices and consumer health devices. The clinical devices market is further subdivided into vital signs monitoring devices, multiparameter trackers, neurological monitoring devices, peak flow meters, sleep apnea monitors, fetal monitoring devices and other clinical devices. The vital signs monitoring devices segment accounted the largest share in the market, due to escalating acceptance of continuous glucose monitoring system, and mounting occurrence of diabetes and cardiovascular diseases.

The mhealth apps are further subdivided into healthcare apps and medical apps. The healthcare apps segment accounted the largest share in the market due to escalating number of people using smartphones, and mounting demand for tracking daily activities and various health conditions. The healthcare apps are further subdivided into medication management apps, general health & fitness apps, personal health records apps, chronic care management apps, women’s health apps, and other healthcare apps. The medical apps are further subdivided into patient management & monitoring apps, medical reference apps, communication & consulting apps, and continuing medical education apps.

The mhealth services are further subdivided into diagnosis & consultation services, healthcare system strengthening services, remote monitoring services, fitness & wellness services, treatment services, and prevention services. The remote monitoring services segment is expected to grow at the fastest rate in the market.

Insight by Stakeholders

On the basis of stakeholders, the market is subdivided into healthcare provider, content players, mobile operator, and device vendor. Of all the stakeholders, the mobile operator accounted for a foremost share in the mhealth market. Moreover, the content players are expected to grow at the fastest rate in the market, due to technological advancement, and mounting acceptance of remote monitoring solutions.

Industry Dynamics

Industry Trends

Expanding employment of mhealth solutions for personalized patient engagement, mounting acceptance of cloud-based mhealth solutions, escalating emphasis on consumer-centric mobility solutions, and wearable health technology is the trends in the mhealth market.

Growth Drivers

Mounting access of smartphones, tablets, and other mobile platforms, escalating emphasis on patient-centric healthcare delivery, the mounting occurrence of lifestyle associated disorder, expanding consumption of connected medical devices and mhealth apps for the treatment of chronic and lifestyle associated diseases and mounting need of remote patient monitoring services are the primary growth drivers for the mhealth market.

Shortage of physician in developing countries, escalating healthcare cost, expanding geriatric population, strong dispersion of 3G and 4G networks to provide continuous healthcare service and mounting implementation of mhealth solutions are also facilitating the growth for the mhealth market.

Challenges

Lack of standards and regulations, lack of data security and privacy, difficulties in locating mhealth Apps on android or apple stores, little assistance from physicians in choosing apps, and patent protection for mhealth devices and applications are the major challenges for the growth of mhealth market.

Industry Ecosystem

Globally, the manufacturing companies trying to enter the mhealth market are required to maintain stringent regulatory standards. Moreover, the high level of capital requirement also poses a major barrier to the entry of new players. This offers an edge to the established players in the industry competition.

Geographic Overview

Geographically, North America is the largest mhealth market as in the region the smartphone users are increasing. In addition, strict regulations regarding patient safety and patient care, the mounting occurrence of chronic and lifestyle associated diseases, expanding the geriatric population, and government initiatives for digital health are also up surging growth of the North American mhealth market.

Asia-Pacific is observed to witness the fastest growth in the market, due to the mounting occurrence of chronic and lifestyle associated diseases. In addition, escalating healthcare expenditure, expanding the geriatric population, and mounting need of remote patient monitoring services are also creating a positive impact on the mhealth market growth in the region.

Competitive Insight

Key players in the mhealth market are catering to the demand of these devices by investing in technologically advanced products in their product portfolio across the globe. In January 2016, AT&T signed an agreement with YOFiMeter to enable people with diabetes to wirelessly transmit their blood sugar levels. Cerner Corporation, Koninklijke Philips N.V., Omron Corporation, Medtronic PLC, Cisco Systems, Inc., BioTelemetry, Inc., Ihealth Lab Inc., Apple Inc., AT&T, Inc., Johnson & Johnson, and Airstrip Technologies are the key players offering mhealth.

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