The global market for mHealth
(Mobile health) is expected to reach USD 49,119.2 million by 2020, according to
a new study by Grand View Research, Inc. Monitoring services is expected to
remain the dominant and fastest growing market segment, with market revenue of
USD 1,227.5 million in 2012, and an estimated CAGR of 49.7% from 2014 to
2020.
Per capita healthcare
expenditures have been increasing, which makes medical services unaffordable
for a large percentage of the population. As a result, demand for mobile health
is expected to increase considerably over the next six years. In addition to
smartphone proliferation, uptake of 3G and 4G networks is expected to increase
demand for telemedicine services. Aging population and growing incidences of
diseases linked to changing lifestyles have intensified the need for affordable
and accessible healthcare. Concerns among users, regarding the safety and
privacy of information, along with the need for secure infrastructure, are the
key challenges for market participants.
For Market Research Report on “mHealth
Market ” Visit http://www.grandviewresearch.com/industry-analysis/mhealth-market
Further Key findings from the study suggest:
- The global market was valued at USD 1,950 million in 2012, and is expected to grow at a CAGR of 47.6% from 2014 to 2020.
- Chronic disease management was the largest contributor to the monitoring services market, with higher demand from developed markets of North America and Europe. The market for post acute care services accounted for 19.5% of the overall monitoring services revenue in 2012. Diagnosis services are more prevalent in developing markets, and growing adoption of these services is expected to considerably augment access to healthcare in these regions.
- Mobile operators accounted for 48% of the overall market in 2012, with majority of their revenue originating from monitoring services such as independent aging solutions. The market for healthcare providers is expected to grow slower than the global average, at an estimated CAGR of 45.1% from 2014 to 2020. Quelling credible concerns among users, along with availability of regulatory support is crucial for driving profitability of industry stakeholders.
- North America dominated the global market, accounting for 33.5% of total revenue in 2012. Highest demand originated from monitoring services, with growing incidences of chronic diseases necessitating the need for mobile health solutions among others. High per capita healthcare expenditure in developed markets is expected to be the key driver for regional growth. Driven by the need for accessible healthcare, the Asia Pacific market is expected to the fastest growing regional market, at an estimated CAGR of 49.1% from 2014 to 2020.
- The market comprises of many stakeholders including mobile operators, device vendors, healthcare providers as well as content players. Companies operating in the market differ on the basis of their offering, and play a key role in overall mHealth adoption. Strategic collaborations and partnerships with healthcare providers, and resolving standardization and interoperability issues are essential for mass acceptance. Industry participants include AT&T, Apple Inc., Google Inc., Allscripts Healthcare Solutions, SoftServe Inc., and Vodafone Group and several others.
For the purpose of this study, Grand View Research has
segmented the global mHealth market on the basis of services, participants and
region:
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For More Information, Visit Grand View Research
Contact:
Sherry James
Corporate Sales
Specialist, U.S.A.
Grand View Research,
Inc.
United States
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
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