mHealth Market : making the most of smartphone technology
Market Overview According to a new report published by Reports Monitor titled, “Mhealth Market by Component, Application, and End-User: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the mhealth market was valued at XX million in 2016, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
Growing use of mobile and wireless technology in recent past few years helps achieve great health objectives and has the potential to transform entire healthcare industry. Mobile health is sub segment of e-health and encompasses medical and public health practices supported by mobile devices. It is complex network of wide range of services, devices, software products, regulatory webs, market participants and end-user. It empowers self-assessment & remote monitoring solution for individual patient as well as assists healthcare professionals in treating patients efficiently as mobile apps strengthens adherence to healthy lifestyle.
Deep infiltration & affordability of smartphone, various other integrated wireless platforms and expanding connectivity amidst devices boost the growth of the market. In addition, High adoption of 3G, 4G networks, convenience & cost restriction and technological innovation further propels the market growth. Besides, developing healthcare infrastructure, number of government supportive activities and rising expenditure on healthcare to improve public health is expected to propel the market in coming years. However, less technological awareness among aging population, resistance from traditional healthcare providers and inflexibility in government regulation may hinder the growth market. Asia-Pacific mhealth solution market possess substantial potential owing to increase funding for research & development, government initiatives regarding mhealth, penetrating smartphone technology and need for accessible healthcare tool.
The global mhealth market is segmented on the basis of component, application, end-user and region.
Based on component the market is broadly categorized into hardware, mhealth apps, services and others. Hardware segment further divided into blood pressure monitors, blood glucose meters, multi-parameter trackers, pulse oximeters, peak flowmeters and others. mhealth apps is bifurcated into general health & fitness apps, chronic care management app, personal health record apps and others. Services are sub-segmented into treatment services, diagnosis & consultation services, fitness & wellness services and others.
Application wise the market is segmented into diagnostic treatment, remote monitoring, remote data collection and others. Diagnostic & treatment segment further spilt into neurology, diabetes, cardiovascular, respiratory and others. Depending upon end-user the market is segmented into mobile operators, healthcare providers, application players and others.
Competitive Landscape Numbers of companies in the market are blending their knowledge of medical devices with smartphone technology to produce new mobile health devices. The major key players in the market include Medtronic plc., AliveCor, Inc., OMRON Corporation, Apple, Inc., AirStrip Technologies, Inc., BioTelemetry Inc., Jawbone, Nike Inc., LifeWatch AG, Koninklijke Philips N.V., Withings, AgaMatrix, Inc., Cisco Systems, Inc., athenahealth, Inc., and iHealth Lab, Inc.
In December 2016, Medtronic plc. the global leader in medical technology announced a partnership with fitbit. Fitbit is the leader in the connected health and fitness market. Under this partnership company aims to integrate sophisticated medical technology with the convenience of automatic activity tracking. The iPro 2 myLog mobile app will allow patients living with type 2 diabetes to monitor their glucose levels and physical activity data in one streamlined application.
About Garner Insights:
We at Garner Insights.com provide a comprehensive analysis by providing in-depth reports of the various market verticals. Our Mission is to provide a detailed analysis of the vast markets worldwide backed by rich data. Decision makers can now rely on our well-defined data gathering methods to get the correct and accurate market forecasting along with detailed analysis.