Industry Background:
mHealth being one of the eHealth aspects is getting advanced in acquiring, transporting, storing, processing and securing raw & processed data to deliver meaningful results. The rapid rise in the incidence of the chronic diseases as well as the advancing technologies in the mobile health apps has delivered information of personal healthcare on the regular basis which is one of the major factor fuelling the mHealth market. Mobile Health (mHealth) is a general term used for mobile health, which provides assistance to public health using smart devices such as; mobile phones, tablet computers & PDAs, and wearable devices such as smartwatches. It helps in educating consumers about preventive health care services.
According to AMA, the market for Mhealth is expected to register a CAGR of 25.4% during the forecast period to 2026. This growth is primarily driven by Rising Use of Mobile phones, Tablets, Smart Phones and other Mobile Platform, Cost Containment of Healthcare Delivery, Rising Focus on Patient-Centric Healthcare Delivery and Increasing Consumption of Connected Devices and mHealth Apps for the Management of Chronic Diseases.
Globally, a noticeable market trend is evident Advancement in Technology of Connected Devices and mHealth App with Rise in use of Wearable Health Technology
. The Health Care Technology sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Omron Corporation (United States), Apple, Inc. (United States), AirStrip Technologies (United States), AliveCor, Inc. (United States), BioTelemetry Inc. (United States), athenahealth, Inc. (United States), AgaMatrix, Inc. (United States), iHealth Lab, Inc. (United States), AT&T (United States), Cerner Corporation (United States), Cisco Systems, Inc. (United States), Medtronic plc (Ireland), Koninklijke Philips N.V. (Netherlands), LifeWatch AG (Switzerland), Nokia Corporation (Finland) and Johnson & Johnson (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In June 2017, Johnson & Johnson an American multinational medical devices, pharmaceutical and consumer packaged goods manufacturing company acquired the Actelion
Regulatory Insights:
According to the United Nation Department of Economic and Social Affairs (UNDESA), world population ageing 2017 report, in North America, the population of people aged 60 years or above was approximately 78.4 million in 2017, and the number is estimated to reach 122.8 billion by 2050.
Market Drivers
- Rising Use of Mobile phones, Tablets, Smart Phones and other Mobile Platform
- Cost Containment of Healthcare Delivery
- Rising Focus on Patient-Centric Healthcare Delivery
- Increasing Consumption of Connected Devices and mHealth Apps for the Management of Chronic Diseases
Market Trend
- Advancement in Technology of Connected Devices and mHealth App with Rise in use of Wearable Health Technology
- Growing Application of Cloud-Based mHealth Solution
- Remote monitoring and Growing Focus on Consumer- Centric Mobility Solutions
Restraints
- Lack of Standards and Regulations
- Increasing Concerns Regarding Health care Fraud And Data Theft which Require Data Security
- Lack of guidance from Physicians while Selecting Apps
Opportunities
Rising Incidence of Lifestyle Disorders and Growing Adoption of mHealth Solutions
Challenges
Difficulties in Finding mHealth Apps in Stores and Patent Protection for mHealth Devices and Applications
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Mhealth Study Sheds Light on
The Mhealth Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Mhealth industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Mhealth industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.