mHealth (Mobile Health) Devices Market Overview
According to Market Research Future (MRFR), the global m-health device market is expected to reach a valuation of USD 4757.2 million by 2023, growing at a substantial CAGR of 35.03% during the assessment period (2017-2023).
The global m-health market is driven by the growth in advanced connectivity technologies and solutions such as 3G/4G/GPRS/GSM/ and Wi-Fi. Increasing demand for mobile medical devices among doctors, coupled with the increased usage of these devices by the medical professionals to monitor their patients’ health and vitals is supporting the market growth to a certain extent. in addition, growing awareness among patients towards the benefits of m-health devices and their aid in easy management of the chronic disease is expected to contribute substantially to the market growth over the review period .
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mHealth (Mobile Health) Devices Market Segmental Analysis
The global market for m-health devices has been segmented on the basis of type and application. Based on type, the m-health devices market has been segmented into health and fitness devices, medical devices, and other devices),
Based on application, the demand for m-health has been segmented into education and awareness, healthcare management, monitoring application, treatment and diagnostics, wellness and prevention, and others.
mHealth (Mobile Health) Devices Market Regional Analysis
The global m-health devices market has been segmented into North America, Europe, Asia Pacific (APAC), and the rest of the world.
North America region accounts for the dominant market share for the m-health device and is expected to reach USD 16,443.4 million by 2023. Favorable factors such as supportive government policies and the rapid adoption of m-health devices coupled with the augmented incentives are expected to drive the market growth in the region over the forecast period. additional developed healthcare infrastructure and significant healthcare expenditure contribute to the market growth, enabling the enhanced development and adoption of these devices. The presence of an established healthcare sector in the US and technological advancement in the country is expected to register the highest market share, which is followed by Canada.
Europe accounts for the second-largest region for the global m-health device market, which is anticipated to grow at a substantial CAGR. Favorable governmental policies and initiatives drive the market growth in the region significantly. Moreover, the growing economy is also expected to contribute to the market growth over the assessment period considerably, along with the expansion of the healthcare sector in the region with increasing healthcare expenditure. Developed countries such as Germany backed by its growing medical devices sector dominates the deployment of the m-health device in the region. Increasing digitalization, along with the growing focus on data governance, data integration, data quality management, hence, contributing to the market growth in Europe.
The Asia Pacific region is estimated to grow at a 35.71% CAGR through the review period, emerging as an emerging market for m-health devices. Factors such as the growing development opportunities along with the continually developing healthcare infrastructure in the region are driving the market growth. Besides the expanding adoption of m-health devices in multiple healthcare facilities, coupled with the presence of high-quality and improved healthcare infrastructure and institutions, is expected to impact the market growth positively. Countries such as China, Japan, and India, account for the wide implementation of these m-health devices which, consequently, drives the market growth in the region.
mHealth (Mobile Health) Devices Market Key players
The key players identified in the global m-health devices market are Allscripts, Apple Inc., Athenahealth, Cerner, GE Healthcare, Koninklijke, and Medtronics.
mHealth (Mobile Health) Devices Industry News
June 2019 – UK’s National Health Service launched a digital health portal, enabling experts to review and validate mHealth applications under development.
June 2019 – Georgia State University announced their plan to use USD 3.15 million grant from National Institute for Health for expansion of mHealth platform for smoking cessation.
June 2019 – the University of California successfully launched a mHealth app for engaging millennials in meditation.
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