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Mobile health (mHealth) refers to the use of smartphones and mobiles for providing medical care to patients. It can enlighten patients with information pertaining to preventive care which can provide valuable assistance and save a trip to the doctor. The global mobile health market report by Market Research Future (MRFR) contains forecasts from 2016 to 2022 with trends, drivers, and opportunities being outlined in a comprehensive manner.Market Outlook
The Global Mobile Health Market is projected to touch USD 21.71 billion by 2022. It can exhibit 36.5% CAGR from 2016 to 2022 (forecast period). Main factors driving market growth include implementation of wearables and smartphones in the healthcare industry, integration of portable wireless devices, and high prevalence of various lifestyle diseases. Lack of sufficient medical care in remote regions with low number of skilled personnel can drive the global market growth.
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The use of mHealth applications to ensure adherence of patients to prescribed medications is likely to bode well for the market. These applications provide a direct link to the care provider and allows them to monitor the health of the patient. Inclination towards digital information is ensured to drive the market’s success.
But lack of standards and concerns of data privacy can restrict market growth.
Segmentation Analysis
The global mobile health market is segmented on the basis of therapeutics and application.
By therapeutics, the market is segmented into fitness & lifestyle therapeutics, mental and neurological disorders, respiratory, and others.
By application, the market is segmented into remote data collection, healthcare management, wellness & prevention, education and awareness, and diagnosis & treatment. Remote data collection is expected to gain a large portion of the global mobile heath market due to the mHealth platform allows patients to send data wirelessly via their mobile networks.
Regional Analysis
Geography-wise, the global mobile health market comprises Americas, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The Americas held close to 34% of the global market share. The region is fueled by technological advances and use of mobile phones by clinicians for providing medical care. Development of mobile applications which can increase the outcome of medical cases as well as reduce paperwork can drive the regional market growth. Adoption of portable phones and mobile apps in the U.S. is deemed to influence the value of the global mHealth market.
Europe, on the other hand, is touted to exhibit 35.65% CAGR over the forecast period. Increasing initiatives for undertaking research on chronic diseases and the growing geriatric populace can drive the regional market growth. Government funded mobile applications for assisting patients with normal checkups can bode well for the global mHealth market. Social gaming developed by researchers for assist children in understanding the benefits of nutrition is bound to bode well for the market.
The APAC region can generate significant revenue due to adoption of modern technologies by developing economies to cater to the large patient pool and high incidence of chronic diseases.
Competitive Outlook
Agamatrix, Inc., AT&T, Inc., Jawbone Inc., Alivecor, Inc., Philips Healthcare, Biotelemetry INC. (CARDIONET), Johnson & Johnson, Laboratory Corporation of America Holdings, Apple, Inc, Google Inc, GE Healthcare, Athenahealth INC, and others are some of the biggest names profiled in the market report.
Expansions, product launches, mergers, and acquisitions are some of the strategies formulated by these application developers to gain leverage in the intensively competitive market.
Industry News
LifeOmic, a U.S. company, has launched a new platform, LIFE Extend, for assisting elderly patients to take preventive measures usually encountered with aging. The user gains points for taking care of their health and can be cashed for rewards at specific outlets. It has an in-built digital assistant which runs due to artificial intelligence.
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