Global M-Health Solutions Market Insights, Opportunity Analysis, Market Shares and Forecast 2017 – 2023
The m-Health solutions market is growing with an impressive CAGR of approximately 33.8% during the forecast period. The demand for m-Health solutions is driving due to some crucial factors such as growing prevalence of lifestyle oriented diseases, rapid penetration of 3G & 4G networks to offer constant healthcare services, rapid increase in mobile health awareness and growing emphasis on patient-centric healthcare delivery. Furthermore, growing penetration of mobile phones, smartphones in low & middle income countries is also one of the key boosting factors. There has been a growing focus in capitalizing on the high presence of mobile technology infrastructure to improve health call centers in low and lower-middle income countries that can enhance convenience of health instruction and information to public and the patients. This attitude has been originating to overcome extensive health system obstacles such as shortages of health professional, dependence on informal or untrained providers, lack of sources of trustworthy information and cost of transportation and service. Although, the market has high driving reasons, but still the market is facing some crucial challenges such as lack of standard & regulations and patent security for m-Health applications & devices. Moreover, there are some restraints in the market growth such as lack of data prevention and problem in searching m-Health apps on android stores. In various cases, the patients have found difficulty to use app features & enter data, and in several cases patients couldn’t take any utilization of that data. Though, there are some positive factors creating scope for the market such as growing adoption of health-related smartphone apps and developments in 5G networks to encourage mobile health applications. North America is the leader in the market due to high health consciousness in the region, majorly in the U.S. Asia Pacific is also playing a major role in the market. It has been supported due to growing government support to develop healthcare system. The presence of major companies such as AT & T Inc., Medtronics Inc., Johnson & Johnson, Cisco Systems Inc., AliveCor Inc. and so on are increasing the opportunity for innovations in m-Health solutions as well as to gain competitive advantage across the globe.
The m-Health Solutions market has been segmented on the basis of product, application and services. According to product, the market is further segmented into ECG monitors, pulse Oximeters, sleep apnea monitors, blood pressure monitors, peak flow meters, blood glucose meters and other products. Blood pressure monitors is expected to held largest market revenue share in product segment in 2015. According to application, the market is further segmented into medical apps and healthcare apps. Medical apps are further sub-segmented into diagnostic apps, continuing medical education (CME) apps, medical reference apps and alert & awareness apps. Healthcare apps are also further sub-segmented into general Healthcare & Fitness Apps, women’s health apps, medication management, chronic care management apps, personal health record (PHR) apps and other healthcare applications. The general healthcare & fitness apps in healthcare apps segment held the largest market revenue share in 2015. Among the 165,000 medical and health apps currently available on the market, approximately two thirds are emphasized on general wellness issues such as diet, fitness and lifestyle & stress. It shows high popularity of general healthcare & fitness apps. According to services, the market is further segmented into prevention services, diagnostic & consultation services, treatment services, treatment services, fitness & wellness services, remote monitoring services and healthcare system strengthening services. In service segment, the remote monitoring services market is expected to held largest market revenue share in 2015.
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