mHealth market is estimated to account for US$ 246,820.4 Mn by the end of 2025, escalating at a CAGR of 31.3% during the forecast period from 2018 to 2025
Among the devices, the demand for the mhealth is significantly high for insulin pumps, followed by BP monitor. Diabetes is rapidly becoming a major health widespread in most regions of the world. The insulin pumps are portable devices that are used to check the sugar level in diabetic patients. For the diagnosis of the diabetes, diabetes self-management products has been developed in the market, aimed at help to improve the lives of people with diabetes. Additionally, increased in technological advancements in the products and devices can be another factor which likely to drive the growth of the mhealth market during the forecast period.
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According to a new market research study titled ‘mHealth Market to 2025 – Global Analysis and Forecasts by Services, Devices and End User, the global mhealth market was valued at US$ 22,722.1 Mn in 2017 and is estimated to reach US$ 246,820.4 Mn by 2025. The report highlights the trends prevalent in the global mhealth market and the factors driving the market along with those that act as deterrents to its growth.
The key players operating in the field of mhealth market worldwide include:
- KONINKLIJKE PHILIPS N.V.,
- Boston Scientific Corporation,
- athenahealth, Inc.,
- Honeywell Life Care Solutions,
- Cisco Systems, Inc.,
- OMRON Corporation,
- AgaMatrix, Inc.
- and among others.
mHealth is referred to the practice of medicine and public health supported by mobile devices such as mobile phones, tablets, personal digital assistants and other wireless infrastructure. mHealth allows the education and awareness, remote monitoring, diagnostic and treatment support and other services. The global mhealth market is a mature market which is segmented on the basis of services, devices end user. Based on services, the market is classified as remote monitoring services, diagnosis services, treatment services, health support services, fitness & wellness services and others. By devices, the mhealth market is segmented into insulin pump, BP monitor, glucose monitor, personal pulse oximeters and others. On the basis of end user segment, the market is classified as mobile operators, devices vendors, health providers and others.
The increasing acceptance of mobile health expected to propel the growth of the mhealth market in the forecast period. The mobile health is the most advanced and exciting development which is developed to widely distribute the medical information or health data to patients, in a timely manner. The ongoing progression of wireless communications technology with doubtless help bring the mHealth initiatives to maturity in the forecast period. Additionally, the other applications of mhealth including emergency response systems, patient safety systems and health extension services are the emerging trends that help to boost the demand for mhealth services.
The object of developing mhealth services is to support the long-distance clinical health care, patient & professional health-related education, public health and health administration, the wireless and electronic information and telecommunications technologies are developed. These advanced and innovative technologies known as mhealth that include live video-conferencing, store-and-forward imaging, streaming media, mobile health, terrestrial & wireless communications and the internet.”
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