mHealth helps to reduce healthcare expenditure by limiting the number of hospital visits and also reduces readmissions. Mobile connectivity with healthcare professionals helps in decreasing the bridge between healthcare professionals and patients.
Albany, NY -- (SBWIRE) -- 02/14/2018 -- The global mHealth market to earn an estimated US$118.4 bn by the end of 2025 at a CAGR of 22.1% during the forecast timeframe 2017-2025. In 2017, the market had been worth a US$23.9 bn. By product, connected medical devices had secured a dominant share in 2016. By region, North America stood at a leading position while being worth a US$45.9 bn by the final forecast year. The launch of trendy wearable devices such as smartwatches could significantly add to market growth.
Global mHealth Market: Scope and Methodology
This report on the global mHealth market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
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The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2015 to 2025, considering the macro and micro environmental factors. Growth rates for each segment within the global mHealth market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global mHealth market.
Market revenue in terms of US$ Mn for the period between 2015 and 2025 along with the compound annual growth rate (CAGR %) from 2017 to 2025 are provided for all the segments, considering 2016 as the base year. Market size estimations involved in-depth study of services and product features of different types of applications. Additionally, market related factors such as increasing preference for technologically advanced products, product innovation, and increasing incidences and prevalence of chronic diseases in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
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mHealth Market: Segmentation
Based on product, the global mHealth market has been segmented into connected medical devices, mHealth applications and mHealth services. Further connected medical devices is segmented into heart rate monitors, activity monitors, electrocardiograph, fetal monitoring, neuromonitoring and others and mHealth applications is further segmented into fitness & wellness, diabetes, cardiovascular diseases, central nervous system disease, respiratory diseases, musculoskeletal diseases, smoking cessation, medication adherence and others. Based on end user, the mhealth market is segmented into B2C and B2B. B2C end user is further segmented into patients and caregivers and B2B is further classified into providers, payers, employers, and others.
mHealth Market: Geographical and Competitive Dynamics
Geographically, the global mHealth market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In addition, the regions have been further segmented by major countries from each region. These include the U.S., Canada, the U.K., Germany, France, Italy, Spain, Japan, China, India, Australia & New Zealand, Brazil, Mexico, Saudi Arabia, UAE and South Africa.
The report also profiles major players in the mHealth market based on various attributes such as company overview, financial overview, SWOT analysis, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Dexcom, Inc., Apple Inc., FitBit, Inc., Withings, Jawbone, Proteus Digital Health, Omada Health, Inc., WellDoc, Inc., Livongo Health, Noom, Inc., Ginger.io, Inc., Propeller Health, 2Morrow, Inc., Canary Health, Mango Health, BiogeniQ Inc., Twine Health, Inc., Glooko, Inc., Firstbeat Technologies Ltd., Claritas MindSciences, Big Health, Dthera Sciences, Virta Health Corp, Zest Health, LLC, Meru Health, Inc., HealthMine, Inc., Pear Therapeutics, Inc., BioTelemetry, Inc., Blue Mesa Health, and Digital Therapeutics.
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The global mHealth market has been segmented as follows:
Global mHealth Market, by Product
Connected Medical Devices
Heart Rate Monitors
Fitness & Wellness
Central Nervous System Disease
Global mHealth Market, by End User
Global mHealth Market, by Geography
Rest of Europe
Australia & New Zealand
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa