mHealth market size was estimated at over USD 4.8 billion in 2015 and it is anticipated to exceed USD 60 billion by 2023 growing at a CAGR of over 30% from 2016 to 2023. Rising awareness regarding preventative medication is expected to drive the industry growth.
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Increasing implementation of mobile and wireless technologies helps to generate data base on individual’s daily environment, biology as well as physiology. Growing proliferation of chronic diseases namely diabetes, cancer and heart ailments is expected to fuel the industry demand over the forecast period. Advent on technology such as 3G and 4G LTE network services aids in high speed data transfers and video calling features which further facilitates swift telemedicine service delivery.
North America mHealth market accumulated around 30% of the overall industry share in 2014. The spur in the region can be attributed to flourishing number of live health and pilot projects in the U.S. and Canada. Increasing number of health and wellness apps coupled with rising smartphones adoption among the population is expected to drive the region over the forecast period. Mobile telemedicine is likely to benefit emerging nations through video calls with rural health centres and healthcare professionals. Diagnosis service includes IVR-based services or call centre services along with mobile telemedicine services.
Asia Pacific mHealth market size is anticipated to witness significant growth due to increasing rural population. In addition, lack of medical practitioners in the region is likely to open new avenues for profit generation. Developed countries such as Japan, Singapore, South Korea and Australia are anticipated to furnish numerous growth opportunities owing to rising per user expenditure. Emerging nations are likely face challenges due to scarcity of healthcare delivery infrastructure along with lack of skilled professionals during 2016 to 2023.
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Key industry participants occupying major mHealth market share include AT&T, Vodafone, Allscripts Healthcare Solutions, mQure, Apple Inc., Samsung Electronics Corporation, Omron HealthCare Inc., Philips healthcare, Bayer Healthcare, Cardionet Inc., LifeWatch, Masimo Corporation, Boston Scientific, Sanofie, and Qualcomm Inc.
This latest mHealth Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across a number of regional markets. The report also analyzes the mHealth Industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “mHealth Market Size, Industry Analysis Report, Regional Outlook, Application Development, Price Trend, Competitive Market Share & Forecast, 2016 – 2023” in detail along with the table of contents:
Key Insights in this Report
- mHealth Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key mHealth Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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