The Global Mhealth Market is likely to expand at an impressive CAGR, finds Fortune Business Insights in a report, titled “mHealth Market: Global Market Analysis, Insights and Forecast, 2018-2025.” Growth witnessed in the market backed by increasing adoption of wearable devices for health monitoring. In addition to this, increased availability of mobile apps manufactured by leading companies will enable fuel the demand for mHealth solutions in the forecast period.
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The increase in the number of mobile phone users, worldwide, is favoring the growth of the global market. mHealth applications enable access to health information with the option of avoiding hospital visits. Furthermore, ease in availability of network providers is one of the factors favoring the global mHealth market. The rising uptake of mHealth services among the elderly population is a major factor driving the global market.
Some of the Main Key Players Covered in the Report
- Bayer Pharmaceuticals
- AliveCor, Inc.
- BioTelemetry Inc.
- LifeWatch Services, Inc.
- Omron Healthcare, Inc.
- Qualcomm Technologies
- Cerner Corporation
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Increasing Adoption of Smartphone Services among Global Population to Enable Growth
The adoption of a fast-paced lifestyle among people around the world has fuelled the demand for convenient yet high-performing mobile applications. The advent of cloud-based services within mobile apps is favoring the expansion of the Global mHealth Market. Cloud-based services fulfill the need for excess storage that is required when availing mHealth solutions. According to Statista, in 2016, around 2.1 billion people around the world owned smartphones.
This number accounts for around 36% of the global population, and it is forecasted to grow even more by 2019. Thus, an increasing end-user availability may lead to a subsequent increase in demand for mHealth applications and services in the forthcoming years.
The demand for easy access to health information among the geriatric population is a key factor impelling innovations in mHealth services. Among various benefits of mHealth services, some noteworthy benefits are real-time monitoring, automated alerts, and treatment and wellness based on recorded data. mHealth devices possess advantages such as low cost, minimum maintenance, and reduced time frames. The factors above are resulting in the higher uptake of mHealth services over other services among end-users, globally.
By Product Type
- Patient Monitoring Products
- Diagnostics Products
- Nutrition and Fitness Support
- Mental Health Support
By End User
- Ambulatory Surgery Centers
- Home Care Settings
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Favorable Government Policies to Boost the Global mHealth Market
Increasing government initiatives targeted towards spreading health awareness are boosting the global mHealth market. Moreover, rising government initiatives that are promoting the use of mHealth apps are aiding the expansion of the global market. Organizations such as the National Health Service (NHS) have imposed stringent rules and regulations towards the safety and testing of mHealth apps and services.
Therefore, users can be sure of the efficiency of these apps as they have already been tested and verified clinically. This, in turn, has led to increased reliability and subsequently, more end-users are preferring apps that have been verified, clinically by organizations such as the NHS.
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