Global M-Health Device Market Overview
M-Health or mobile health refers to the medicine and public health practice supported by mobile communication devices, such as mobile phones, computers, tablets or PDAs, along with the wearable devices like smartwatches, which can be used for health services, information, and data collection. M-health devices are used to collect commutative clinical health data using mobile devices, real-time monitoring of patient’s vital signs, and provision of care via mobile telemedicine.
Acknowledging the exponential growth, the market perceives currently, Market Research Future (MRFR), in its recently published market forecast asserts that the global m-health device market size report will reach USD 8.91 Billion by 2030, registering a massive 9.90% CAGR during the assessment period 2023-2030. The market proliferation of portable and smart devices like tablets and smartphones is the key driving force, pushing up the market growth.
M-health is one of the most disruptive trends ever occurred in the healthcare sector that has recolonized medical practices entirely, providing even surgical expertise into the most critical locations such as battlefields. The advantages of m-health devices are encouraging a growing number of HealthCare facilities to adopt and implement them to improve their services. The augmenting uptake is increasing the market size of m-health devices on the global platform.
Simultaneously, advanced connectivity technologies and solutions such as GSM/GPRS/3G/4G, and Wi-Fi also account for a key factor supporting the market growth. Augmenting demand for mobile medical devices among doctors coupled with the increased usages of these devices by the physicians to monitor their patients’ health remotely, is fostering the market growth to an extent. Furthermore, increasing awareness among patients towards the benefits of m-health devices that can make the management of chronic disease easier, is driving the market growth.
Global M-Health Device Market – Segments
MRFR has segmented its analysis into three key dynamics for the convenience of understanding.
By Types : Medical Devices, Health and Fitness Devices among others.
By Applications : Monitoring application, Treatment and Diagnostics, Education and Awareness, Healthcare Management, Wellness and Prevention among others.
By Regions : North America, Europe, APAC and Rest-of-the-World.
M-Health Device Market – Regional Analysis
Globally, The North American region accounted for the leading market for m-health device, in 2016. North America is one of the pioneers of mHealth and is expected to reach USD 16,443.4 MN in 2023. Factors such as favorable government policies and the fastest adoption of m-health devices along with the increased incentives drive the market growth in the region.
Simultaneously, well-developed healthcare infrastructure and high healthcare expenditure substantiate the market growth, allowing a suitable environment for the development and adoption of these devices. The US backed by the established health care system, and technological advancement accounts for the highest market share followed by Canada.
Europe accounts for the second-largest market for the m-health device which is expected to grow at a considerable CAGR. Favorable governmental support and initiatives, extensively drive the market growth in the region. Undoubtedly, the resurging economy is fostering market growth radiantly, proliferating the healthcare sector in the region with the increasing healthcare expenses.
Germany backed by its burgeoning medical devices sector leads the m-health devices deployments in the region. Increased digitization along with the increasing focus on data quality management, data integration, and data governance fosters the market growth in Europe.
The Asia Pacific region is estimated to grow at 35.71% CAGR during the forecast period, emerging as a promising market for m-health devices. Factors such as the huge development opportunities along with the constantly developing healthcare infrastructure in the region are propelling the market growth.
Besides the augmenting adoption of m-health devices market outlook report in an increasing number of healthcare facilities along with the emergence of high-quality and better healthcare infrastructure and institutions impacts the market growth positively. Countries such as China, Japan, and India, account for the wide adoption of these m-health devices which, in turn, drives the market growth in the region.
Global M-Health Device Market – Competitive Analysis
The M-health device market is witnessing fierce competition. Well-established players adorn the mHealth Application market as highly competitive. The key strategies traced from the analysis of recent developments of the key players include MA, partnership, collaboration, and expansion.
Some of the eminent leaders of the market include Apple Inc., Allscripts, GE Healthcare, Cerner, Athenahealth, Medtronics, and Koninklijke.
Industry/Innovation/ Related News:
October 05, 2018 – Researchers at the University of California (US) presented their study of a mHealth platform that they have developed at the recent IEEE Healthcom 2018 conference. The new mHealth platform can predict a consumer’s blood pressure from wearable data and offer health and wellness advice to keep those readings healthy.
This research shows that using wireless wearables and other m-health devices to collect and analyze personal data can help transition patients from reactive to continuous care where patients and doctors access to this type of system enabling themselves to manage their symptoms continually.
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