Currently, mobile penetration is more than 100% in developed markets and is rapidly increasing in developing markets such as Asia-Pacific, Latin America and Africa. Moreover, increasing exposure to smartphones along with 3G and 4G networks will further boost the adoption of mobile devices in most sectors, especially in healthcare systems. Furthermore, shift is observed from hospital-care to personal-care, as Mobile Healthcare systems are providing seamless support and care to patients irrespective of their locations. On top of that, the advent of new generation of connected medical devices is making it easier for healthcare providers to serve patients effectively and at a lower cost. Mobile medical devices provides adequate and systematic recording of biomedical signals such as respiratory parameters, glucose analysis, electrocardiogram (ECG) recordings and blood pressure measurements irrespective of the location. Thus, major factors that mobile health market players use to differentiate their product and services are portability, automation, ease of use and customization. These have proved to be an optimal solution for monitoring and diagnosing of chronic conditions. Thus, mobile access is expected to become ubiquitous part of healthcare system over next few years, worldwide, just like healthcare access.
Increasing number of active subscribers and growing coverage of mobile networks is primarily driving the demand for smart and connected devices, which in turn is steering the growth of Mobile Healthcare Market. On top of that, increase in incidence of lifestyle driven diseases, namely diabetes and obesity, which is enabling the mobile healthcare devices market growth. In spite of technological advancement in medical devices and rise in per capita income, the higher cost of healthcare systems poses challenges such as affordability and complexity worldwide. In developed markets, due to rise in chronic diseases, per capita expenditure on healthcare is increasing at a faster rate than increase in income level and inflation rate. Yet, there has been no corresponding increase in quality of healthcare services rendered in many countries, thus can be treated as an opportunity for Mobile Health Market. On the other hand, developing countries are still struggling to provide adequate healthcare solutions to their citizens.
Owing to factors detailed above, the global mobile health (mHealth) market is estimated to reach $58.8 billion by the end of 2020 at a CAGR of 32.3% between 2013 and 2020. Blood Glucose Meters market is projected to lead the mHealth devices market followed by cardiac monitoring devices during the forecast period (2013 - 2020). Increasing emphasis on preventive medication is expected to drive the mHealth service market. Monitoring services is expected to take away major chunk of the market with most of the revenue coming from the developed regions.
Europe leads the regional market landscape of the global mHealth market followed by Asia Pacific and North America. Furthermore, by 2020, Asia Pacific will take away the lead from North America, occupying more than 28.2% of the market. The players profiled in this report include: Philips healthcare, Omron HealthCare Inc., Bayer Healthcare, LifeWatch, Cardionet Inc., Masimo Corporation, Sanofie, Boston Scientific, AT&T Inc., and Johnson & Johnson.
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