mHealth market could grow 33.5%

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It states that the global mHealth market was valued at $10.5 billion in 2014, with blood pressure monitors holding the largest share, followed by blood glucose monitors and cardiac monitors - these combined hold 71% of the mHealth devices market. The large share of these monitors can be attributed to increased affordability of mobile compatible devices, integration of innovative technologies in monitoring devices and the increasing lifestyle disease such as diabetes, stroke, COPD, ischemic heart to name a few.

Mobile health provides health service and information through mobile communication devices to address the health priorities and concerns. The advanced mobile and wireless technologies have transformed the face of healthcare services across the globe and are rendering the growth of mHealth market.

Moreover, the continued growth in coverage of mobile cellular networks, rapid advances in mobile technologies and applications, increasing lifestyle diseases and growing awareness among patient population in emerging economies, are some of the key factors fostering the growth of global mHealth market.

On the contrary, the lower accuracy of devices, technology infancy in middle and lower income economies, weak reimbursement coverage, uncertainty in government regulations in certain regions, and low adoption among ageing population is hampering the market growth to certain extent.

Within mHealth services, diagnostic, monitoring and treatment services collectively hold about 74% of the market. The rapid growth of mHealth services market is attributed to rising government initiatives, increasing mHealth awareness programs in underdeveloped regions etc.

Key findings

• Blood glucose meters is projected to be the fastest growing segment in global mHealth devices market registering a CAGR of 41% during the forecast period
  
• US continues to be the leading market in the North America mHealth market throughout the forecast period
  
• Asia-Pacific is projected to be the fastest growing mHealth market registering a CAGR of 35.9% during 2015-2020
  
• UK, France and Germany collectively accounts to 45% share in the Europe mHealth device market in 2014
  
• Cardiovascular and diabetes mHealth application market remains the lucrative market segment for manufacturers

Geographically, North America and Europe constitute the two largest markets for mHealth and collectively accounted for 67% of the market revenue in 2014, with North America continuing to retain its leading position in the overall mHealth market throughout the analysis period. Early adoption of innovative technology, large patient population and high capacity to pay for services are some of the key factors responsible for the growth of mHealth market in these regions. However, the market outlook across developing economies is looking favourable and strong owing to the increasing awareness of chronic diseases, favourable government regulations and increased healthcare expenditure.

Big players

Philips healthcare, Bayer Healthcare and Sanofi are some of the key companies enjoying a strong foothold in global mHealth market, especially in Asian countries. Key players profiled in this report include - Philips healthcare, Omron HealthCare Inc., Bayer Healthcare, LifeWatch, Cardionet Inc., Masimo Corporation, Sanofi, Boston Scientific, AT&T Inc., and Johnson & Johnson.

For more information, go to www.alliedmarketresearch.com/mhealth-2015-market.