Mobile health or mhealth is a term used for advanced practice of medicine and public healthcare by usage of mobile phones or wireless communication technology. Mhealth is mainly used for consultation, remote monitoring, diagnosis and consultation, and fitness & wellness.
The global mhealth market was valued at US$XX, XXX.X million currently, and it is expected to grow at a CAGR of XX% in next 10 years. Demand for the global mhealth market is growing at a significant rate, owing to increasing healthcare costs at medical centers or hospitals, increasing demand for patient centric healthcare model, rising prevalence of chronic diseases, and changing lifestyles. In addition, increasing demand for quality healthcare, increasing error occurrence and integration with existing IT systems, development of mhealth technologies, increasing usage of mobiles, tablets and smartphones, increasing utilization of connected medical devices and mhealth applications, and growing need for remote patient monitoring services for examination, post-surgery care, etc., are also driving its adoption rate and growth of the global mhealth market.
Restraining factors such as computational, and energy limitations, lack of data security and privacy, insufficient memory, poor reimbursement policies, are inhibiting the growth of the global market. However, increasing number of collaborations and partnerships, growing number of product launches and approvals, and rising demand for cloud technology in healthcare are trends expected to widen the opportunities scope of the global mhealth market.
Region-wise, North America market dominated the global mhealth market and is expected to maintain its dominance in the years to come. Europe market accounts as second largest market and is expected to witness strong growth rate, followed by Asia Pacific due to high adoption rate and government initiatives.
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Key players in global mhealth market include AT&T Inc., Athenahealth Inc., BioTelemetry Inc., Cisco Systems Inc., Sanofi S.A., Johnson & Johnson, Philips N.V., Apple Inc., AirStrip Technologies Inc., LifeWatch AG, Nike Inc., Cerner Corporation, Medtronic Inc., and Omron Healthcare.