The Global Market for mHealth Services is Projected to Reach US$22.9 Billion by 2020

Convergence of Mobile Technology & Healthcare Spurs the Global mHealth Market, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on mHealth (Mobile Health) Services. The global market for mHealth Services is projected to reach US$22.9 billion by 2020, driven by spiraling sales of smartphones, growing awareness over proactive self-care, and development of innovative apps to address healthcare issues.

mHealth (mobile health) represents an alternate solution to traditional high-cost healthcare services. By enabling the use of smartphones, tablets, and PDAs to access critical healthcare information and leverage value-added services, mHealth benefits patients as well as healthcare providers. mHealth enables remote monitoring of chronic diseases, thus reducing the pressure on hospitals and healthcare facilities and minimizing healthcare expenditure considerably. Given the current challenging healthcare environment made complex by aging population, high prevalence of chronic diseases and budgetary constraints, mHealth stands to gain as an effective tool to provide efficient patient care. Healthcare enterprises are also utilizing mHealth services to actively involve patients for better treatment adherence for the best possible outcomes.

mHealth is gaining priority in mobile data capture applications, given its ability to simplify data collection using multimedia, barcodes, smartforms, and real-time data visualization. Mobile Health services continue to gain traction with the growing adoption of smartphones across the globe and increasing use of these devices for accessing a range of data services. High-speed internet access and the global proliferation of 3G, 4G and LTE networks are encouraging the use of smartphones for data intensive activities. Features such as built-in mobile multimedia applications, touchscreen display capabilities with easy one-touch access points and customized menu options, enhanced picture graphics and better sound clarity, make smartphones invaluable as a means to deliver mHealth services. Smartphones also come embedded with mobile app stores, which grant users direct access to a range of healthcare and fitness apps. Revolutionizing self-care strategies are fitness apps and ‘wellness’ apps that track general health, sleep behaviors, and mood changes.

As stated by the new market research report on mHealth Services Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 38.7% over the analysis period. The growth in the region is driven by proliferation of low cost smartphones, falling data service tariffs, access to  high speed mobile broadband and increasing adoption of remote mobile monitoring solutions.

Major players in the market include AgaMatrix Inc., AirStrip Technologies, AliveCor Inc., AT&T ForHealth, Apple Inc., athenahealth Inc., Bio Telemetry Inc., Fitbit Inc., iHealth Lab Inc., Jawbone, Motion Computing, Qualcomm Inc., PatientKeeper Inc., Sotera Wireless Inc., Telcare Vodafone Group Plc, Voxiva Inc., and Withings SA.

The research report titled “mHealth (Mobile Health) Services: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, service launches, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World.