Mobile Health (mhealth) Market Overview
The mobile health (mhealth) market was valued at USD 24,216.8 million in 2017, is expected to register a CAGR of about 28.7%during the forecast period, 2018-2023. The mhealth market is in the development stage and is projected to provide significant revenues in the future, with increasing awareness among people and favorable regulatory regulations specific to the quality and feasibility of the mobile-based medical devices.
Rise in Use of Smartphones and Tablets across the World Boosts the Growth of m-health Market
From tablets to wearable’s, the use of mobile devices has been increasing in the market, and healthcare providers are no exception. It has been observed that approximately 80% physicians use smartphones. The use of mobile devices by healthcare professionals has transformed many aspects of clinical practice. It has led to rapid growth in the development of medical software applications (apps) for these platforms. Mobile devices and apps provide many benefits for healthcare professionals, most-significantly, the increased access to point-of-care tools, shown to support better clinical decision-making and improved patient outcomes. In 2014, it was estimated that around 60% of smartphone owners had used their mobile phone to look up for information about a health condition. Approximately 40,000 mHealth apps are in use, globally, and in the coming years, many more health apps are expected to be introduced. Currently, mobile applications are being developed adhering to HIPAA-compliances. The apps developed adhering to HIPAA-compliances make private practices, hospitals, and other healthcare systems implement mobile devices without any major regulatory complications. Hence, the rise in mobile and tablet usage is driving the mobile health market.
Moreover, factors, such as increased awareness levels among the population about the potential benefits of healthcare management, increased need of point-of-care diagnosis and treatment, and increasing focus on personalized medicine and patient-centered approach, are driving the growth of the mobile health market.
Data Security Issues Hinders the Growth of m-health Market
Rapid technological advancements in mHealth research generate both opportunities and challenges, including creating scalable systems capable of collecting unprecedented amounts of data and conducting interventions, while protecting the privacy and safety of research participants. Most top data breaches in 2015 involved cybersecurity threats from third parties. The Health Insurance Portability and Accountability Act of 1996 (HIPAA) compliance is still a key issue when it comes to mobile device security. Until security and privacy are assured, the use of apps by physicians continues to be limited, thereby hindering the market growth. Additionally, the stringent regulatory policies for mhealth applications are expected to restrain the market growth.
Market Segmentation Insights for the m-health Market
Global m-health service type is segmented into Monitoring Services, Diagnostic Services, Treatment Services, Wellness and Fitness Solutions and others. Monitoring services has the highest share, about 36% owing to rising adoption of monitoring services for the management of chronic disease, post-acute care management and also rising geriatric population. Furthermore, treatment services is projected to grow at a CAGR of 31.0% during the forecast period. Monitoring services are further divided into independent aging solutions, chronic disease management and post-acute care services. Diagnostics Services are further segmented into self-diagnosis services, telemedicine solutions and medical call centers manned by healthcare professionals. The treatment services are re segmented into remote patient monitoring services and tele-consultation.
By Device type, the market is segmented into Blood Glucose Monitors, Cardiac Monitors, Hemodynamic Monitors, Neurological Monitors, Respiratory Monitors, Body & Temperature Monitors, Remote Patient Monitoring Devices and others. Remote patient monitoring services have the highest share, about 26% as it allows the monitoring and remote treatment of chronic conditions. Also, development of various innovative system that is helping in securely monitoring and reporting patient information in real-time circumstances. For instance, GoTelecare’s Remote Patient Monitoring (RPM) system sends instant alerts if there is a change in abnormality in the vital signs and helps timely intervention by the physician, and prevents further deterioration of patient health.
By stake holder the m health market is segmented into Mobile Operators, Healthcare Providers, Application/Content Players and others. Mobile operators has the major share in the m health market, about 46% which is due to many mobile network operators (MNOs) are engaging in m Health. Healthcare providers are showing rapid growth with a CAGR of 29.9% during the forecast period.
Asia-Pacific is expected to have High Growth Opportunities in Mobile-Health (m-Health) Market
North America dominates the market of mobile health as monitoring services are largely adopted in the region. Europe and Asia-Pacific follow North America, in terms of market shares. The Asia-Pacific region is expected to witness the highest growth rate during the forecast period; this is due to the increase in awareness of diseases among the people and high penetration of mobile platforms in the Asia-Pacific region. Several Asian countries are also adopting the digital health strategies for managing healthcare delivery. For instance, in 2015, the Japanese health and life insurance giant, Japan Post offered mobile health devices to elderly citizens. Through this initiative, Japan Post is expected to gather more data about its customers, which thereby, can help improve their overall well-being.
Key Developments in the Market
- July 2017: Cisco acquired network security startup, Observable Networks.
- June 2017: Johnson & Johnson acquired the Actelion.
Major Players: Medtronic Plc, Philips Healthcare, Omron Corporation, Johnson & Johnson, Qualcomm Life, AT&T Inc., Cisco Systems, Inc., Bayer Healthcare, and Samsung Healthcare Solutions, among others.
Mobile Health (m- Health) Market Segmentation
- By Service Type
- Monitoring Services
- Independent Aging Solutions
- Chronic Disease Management
- Post-Acute Care Services
- Monitoring Services
- Diagnostic Services
- Self-Diagnosis Services
- Telemedicine Solutions
- Medical Call centers manned by Healthcare Professionals
- Treatment Services
- Remote Patient Monitoring Services
- Wellness and Fitness Solutions
- Other Services
- Diagnostic Services
- By Device Type
- Blood Glucose Monitors
- Cardiac Monitors
- Hemodynamic Monitors
- Neurological Monitors
- Respiratory Monitors
- Body & Temperature Monitors
- Remote Patient Monitoring Devices
- By Stake Holder
- Mobile Operators
- Healthcare Providers
- Application/Content Players
- By Geography
- North America
- Asia Pacific
- South Korea
- Middle East and Africa
- South Africa
- South America
- North America
Country Level Data Points Coverage and Deliverables for Mobile Health (m- Health) Market
Mobile Health (m- Health) Market Report Summary
Mobile Health (m- Health) Market
(2015 – 2023)
The global mobile health (mHealth) market is segmented on the basis of service type, device type and stake holder. Service type is segmented into Monitoring Services, Diagnostic Services, Treatment Services, Wellness and Fitness Solutions and others. Monitoring services are further divided into independent aging solutions, chronic disease management and post-acute care services. Diagnostics Services are further segmented into self-diagnosis services, telemedicine solutions and medical call centers manned by healthcare professionals. The treatment services are re segmented into remote patient monitoring services and tele-consultation. By Device type the market is segmented into Blood Glucose Monitors, Cardiac Monitors, Hemodynamic Monitors, Neurological Monitors, Respiratory Monitors, Body & Temperature Monitors, Remote Patient Monitoring Devices and others. By stake holder the m health market is segmented into Mobile Operators, Healthcare Providers, Application/Content Players and others.
North America (US, Canada, Mexico), Europe (UK, Germany, France, Italy Spain, Rest of Europe), Asia-Pacific (Japan, China, India, Australia, South Korea and Rest of Asia Pacific), Middle East & Africa (GCC, South Africa and Rest of MEA) and South America (Brazil, Argentina and Rest of South America)
AT&T announced the acquisition of AppNexus, now part of AT&T advertising and analytics. AppNexus operates a leading global advertising marketplace and provides enterprise technology products for digital advertising, serving publishers, agencies, and marketers.
Medtronic Plc, Philips Healthcare, Omron Corporation, Johnson & Johnson, Qualcomm Life, AT&T Inc., Cisco Systems, Inc., Bayer Healthcare, and Samsung Healthcare Solutions, among others.
Mobile Health (m-Health) Market offers latest trends, growth prospects, industry competitiveness, major players, regional share of market and forecast to 2023.
Reasons to Purchase this Report
- Current and future mobile health market outlook in the developed and emerging markets
- Analyze various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threats of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Rise in Use of Smartphones, Tablets, Across the Globe
6.1.2 Increased Awareness Levels among the Population about the Potential Benefits of Healthcare Management
6.1.3 Increasing Focus on Personalized Medicine and Patient-Centered Approach
6.1.4 Increased Need of Point of Care Diagnosis and Treatment
6.2 Market Restraints
6.2.1 Data Security Issues
6.2.2 Stringent Regulatory Policies for mHealth Applications
6.4 Key Challenges
7. Market Segmentation
7.1 Segmentation -by Service Type
7.1.1 Monitoring Services
184.108.40.206 Independent Aging Solutions
220.127.116.11 Chronic Disease Management
18.104.22.168 Post Acute Care Services
7.1.2 Diagnostic Services
22.214.171.124 Self Diagnosis Services
126.96.36.199 Telemedicine Solutions
188.8.131.52 Medical Call centers manned by Healthcare Professionals
7.1.3 Treatment Services
184.108.40.206 Remote Patient Monitoring Services
7.1.4 Wellness and Fitness Solutions
7.1.5 Other Services
7.2 Segmentation -by Device Type
7.2.1 Blood Glucose Monitors
7.2.2 Cardiac Monitors
7.2.3 Hemodynamic Monitors
7.2.4 Neurological Monitors
7.2.5 Respiratory Monitors
7.2.6 Body & Temperature Monitors
7.2.7 Remote Patient Monitoring Devices
7.3 Segmentation -by Stake Holder
7.3.1 Mobile Operators
7.3.2 Healthcare Providers
7.3.3 Application/Content Players
7.4 Segmentation - by Geography
7.4.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest Of Europe
126.96.36.199 Australia & New Zealand
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
7.4.4 Middle East & Africa
220.127.116.11 South Africa
18.104.22.168 Rest of the Middle East & Africa
7.4.5 South America
22.214.171.124 Rest of South America
8. Competitive Landscape
8.1 Mergers & Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.1 Medtronic Plc
9.2 Philips Healthcare
9.3 Omron Corporation
9.4 Johnson & Johnson
9.5 Qualcomm Life
9.6 AT&T Inc.
9.7 Cisco Systems, Inc.
9.8 Bayer Healthcare
9.9 Samsung Healthcare Solutions
* List not Exhaustive
10. Future of the Market