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Mobile Health (mHealth) market to Surge at a High CAGR of +28% by 2023 According New Research

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The report provides an In-depth analysis of Mobile Health (mHealth) market with major focus on Connected Devices, Apps and Services

PUNE , MAHARASHTRA , INDIA , April 10, 2018 /EINPresswire.com/ -- Mobile health applications enable healthcare professionals to manage and document complete records to improve productivity, deliver results, and allow access to information. The benefits of mobile health apps and solutions are improving health outcomes and reducing error rates while reducing overall healthcare costs. Mobile solutions can smooth the treatment process and automate management systems. Key drivers for the mobile health market are increased adoption of smartphones, multiple connectivity options such as Bluetooth and Wi-Fi, and expansion of 3G and 4G networks in developing countries. The market for mobile health applications is being positively influenced by cost effectiveness and increased awareness of chronic disease management during medical practices. However, market growth may be limited due to strict laws and regulations of the US Food and Drug Administration (FDA) and European Union regulations related to data security. The Global Mobile Health (mHealth) Technologies Markets is projected to grow at a CAGR of +28% by 2023 according to research experts

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The availability of applications for consumers is continuing to increase rapidly, especially as healthcare applications continue to grow. These applications support self-care users over health, illness and chronic. This has helped patients adopt the mHealth app around the world by playing an important and proactive role in maintaining up-to-date information and up-to-date information about their health care decisions.
Healthcare is increasingly moving to precision-based models, better known as "personalized medicine" models. mHealth is becoming widespread due to the introduction of technologies such as EMR, remote monitoring and other communication platforms.
mHealth utilizes customized, predictive, participative, and preventive 4P health services to deliver optimal health care to users. It is also expected to help the market, especially in low and mid-income countries, as smartphone penetration increases and focus on mobile technology leverages health services and assures population health plans.
Other factors responsible for significant market growth include low cost and convenience of medical devices, technological innovation, integration of wireless technologies, smartphone economics, government initiatives and lifestyle-related illnesses. Market growth is limited due to low accuracy, early technology in the underdeveloped economy, limited coverage, lack of skill recognition of the elderly population and uncertainty in government regulation, resulting in lower adoption rates.

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Growth in the mHealth device market is driven primarily by high sales from blood glucose meters, heart monitors and BP monitors, which account for 5/7 of worldwide mHealth device sales in 2016. This increases the number of heart and BP disorders. BP monitors are the highest monetization segment in the global mHealth device market and glucose monitors are the fastest growing segment. The cardiac monitor market is the third largest segment with a CAGR of 35% over the forecast period.
The global mHealth services market encompasses solutions that consist of diagnostic services, monitoring services, treatment, prevention and wellness and healthcare systems. The global mHealth services market is expected to grow at an annual average of 32.2% over the analysis period. The growth of the mHealth services market is due to increased sales in the monitoring services market. As the Monitoring services are mainly adopted in developed countries such as North America and Europe. However, the Asia-Pacific region will generate significant revenue by 2023. This is mainly due to increased awareness of the disease in the Asia Pacific region and increased mobile platform adoption.
adoption of monitoring services for chronic disease management, acute aftercare and population aging is increasing, we are supporting the growth of the monitoring services market. Approximately 48% of the global mHealth service market will be integrated in the future with diagnostic services and solutions for strengthening wellness and healthcare systems. Growth in this sector is due to increased awareness of fitness and general well-being, growth in government initiatives and increased acceptance of doctors. Geographically, North America is expected to be the largest monetization area in the monitoring services market, following Europe and Asia Pacific.

Vijay Tanna
It Intelligence Markets
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