Currently mobile penetration is more than 100% in developed
markets and is rapidly increasing in developing markets such as Asia-Pacific,
Latin America and Africa. Moreover, increasing exposure to smartphones along
with 3G and 4G networks will further boost the adoption of mobile devices in
most sectors especially in healthcare systems. Furthermore, shift is observed
from hospital-care to personal-care as Mobile Healthcare systems are providing
seamless support and care to patients irrespective of their locations. On top
of that, the advent of new generation of connected medical devices is making it
easier for healthcare providers to serve patients effectively and at a lower
cost. Mobile medical devices provides adequate and systematic recording of
biomedical signals such as respiratory parameters, glucose analysis,
electrocardiogram (ECG) recordings and blood pressure measurements irrespective
of the location. Thus, major factors that mobile health market players use to
differentiate their product and services are portability, automation, ease of
use and customization and have proved to be an optimal solution for monitoring
and diagnosis of chronic conditions. Thus, mobile access is expected to become
ubiquitous part of healthcare system over next few years worldwide just like
healthcare access.
Increasing number of active subscribers and growing coverage
of mobile networks is primarily driving the demand for smart and connected
devices which in turn steering the growth of Mobile Healthcare Market. On top
of that, increasing incidence lifestyle driven diseases namely diabetes and
obesity is also enabling the mobile healthcare devices market growth. In spite
of technological advancement in medical devices and rise in per capita income,
the higher cost of healthcare systems poses challenges such as affordability
and complexity worldwide. In developed markets per capita expenditure on
healthcare is increasing at a faster rate than increase in income level and
inflation rate due to rise in chronic diseases. Yet there has been no
corresponding increase in quality of healthcare services rendered in many
countries and thus can be treated as opportunity for Mobile Health Market. On
the other hand, developing countries are still struggling to provide adequate
healthcare solutions to their citizens.
Owing to factors detailed above, the global mobile health
(mHealth) market is estimated to reach $58.8 billion by the end of 2020 at a
CAGR of 32.3% between 2013 and 2020. Blood Glucose Meters device market is
projected to lead in the mHealth devices market followed by cardiac monitoring
devices during the forecast period (2013 2020). Gradual maturation of Blood
Glucose Meter devices market has been observed and growing saturation will
result into relatively slower growth during the forecast period. On the other
hand, the research revealed that channel distribution will account for about
95% of total sales as compared to direct marketing.
Increasing emphasis on preventive medication is expected to
drive the mHealth service market. Monitoring services is expected to take away
major chunk of the market with most of the revenue will come from the developed
regions. The growth in monitoring services market will be primarily driven by
the increasing need of solutions that aid chronic disease management, and
independent aging population.
North America leads the regional market landscape of the
global mHealth market followed by Europe and Asia Pacific. However, by 2020,
Europe and Asia Pacific will take away the lead from North America with each
occupying more than 28% of the market.
Market attractiveness analysis, compares various devices
markets along with factors responsible for the most attractive devices market.
Market attractiveness analysis for the most attractive geographical region
worldwide is also considered and has detailed study of factors responsible for
rapid growth in the regions. Porters Five force analysis discusses five forces
such as bargaining power of buyers, bargaining power of suppliers, Degree of
Competition, Threat of New Entrants, and Threat of Substitute Product in
detailed for mHealth market.
This comprehensive market study takes into account various
economic factors which are significant in determining the market trends, buying
decisions and future course of the market. Detailed elaboration of drivers,
restraints and opportunities in the report will enable in strategic decision
making with perceptive to identify potential markets. In addition to this, the
study also discusses various environmental and regulatory factors critical for
the market growth. Thus, estimation of market numbers, with due consideration
to all these factors has helped in enhancing the scope of the report. This
analysis will support stakeholders such as manufacturers and distributers of
medical devices in identifying and capturing markets with high potential.
Historical data is provided for 2012 whereas forecast is available through 2020
in terms of revenue ($million) for each and every market segments.
The market is also analyzed on the basis of market shares of
major market players in the global mobile health market. This analysis is
carried out on the basis of their business strategies, recent organic and
inorganic developments, and their market presence and penetration. Company
profiles of top worldwide market players included in this report covers their
business strategies, financial overview, SWOT analysis and recent development.
This inclusion will enhance the strategic business decision making of the
stakeholders. The players profiled in this report includes: Philips healthcare,
Omron HealthCare Inc., Bayer Healthcare, LifeWatch, Cardionet Inc., Masimo
Corporation, Sanofie, Boston Scientific, AT&T Inc., and Johnson &
Johnson.
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