mHealth Device Market – Overview
Considering the potential of the market to expand further during the upcoming years, Market Research Future (MRFR) in its recently published mHealth device market research report asserts that the global industry will accrue over USD 48.91 billion by 2030, registering a massive CAGR of 9.90% throughout the forecast period (2022 to 2030).
The global mHealth device market report publishes that the industry is expanding pervasively, mainly due to the augmenting uptake of these devices through the advanced healthcare facilities.
MHealth is a most disruptive trend ever occurred in the healthcare sector that has entirely changed the paradigm of medical practices, providing surgical expertise even to the most critical locations such as the battlefields.
Moreover, the market penetration of smart mobile devices such as phones, computers, tablet or PDAs and wearable devices like smartwatches alongside the proliferation of the Internet escalates the market on the global platform.
Additional factors boosting the growth of the mHealth device market include the advantages these mHealth devices provide which is encouraging a growing number of HealthCare facilities to adopt and implement them to improve their services. Furthermore,
advanced connectivity technologies and solutions such as GSM/GPRS/3G/4G, and Wi-Fi and the increasing usages of mobile medical devices by the physicians to monitor their patients’ health remotely, are propelling the growth of the mHealth devices market. Also, the spreading awareness among patients towards the benefits of mHealth devices is driving the market growth.
MHealth Device Market – Segmentations
The analysis can be segmented into three key dynamics.
By Type : Health & Fitness Devices and Medical Devices, among others.
By Application : Treatment & Diagnostics, Monitoring Application, Education & Awareness, Wellness & Prevention, and Healthcare Management, among others.
By Regions : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global MHealth Device Market – Geographical Analysis
The North American region will retain its dominance over the global mHealth market, holding the largest share of the market. Being one of the pioneers of mHealth, North America has been creating a substantial revenue pocket over the last few years.
Heading with the favorable government policies and the fastest adoption of mHealth devices along with the increased incentives the mHealth device market in the region.
Factors such as the presence of key manufacturers of these devices and well-developed healthcare infrastructure alongside the presence of futuristic infrastructure for the development of technology, positively impact the growth of the market.
Simultaneously, high per capita healthcare expenditures and a suitable environment for the development and adoption of these devices substantiate market growth.
The US followed by Canada accounts for the largest share in the regional market due to the well-established health care system and technological advancement.
The European mHealth device market stands the second-largest market, globally. Factors boosting the growth in the regional market are favorable governmental support & initiatives and the resurging economy that is proliferating the healthcare sector, increasing healthcare expenses.
Germany, heading with its burgeoning medical devices market leads the mHealth devices deployments in the region. Moreover, factors such as the increased digitization along with the increasing focus on data quality management, data integration, and data governance provide impetus to the growth in the European mHealth market.
The mHealth market in the Asia Pacific region is estimated to register rich CAGR throughout the forecast period. Factors such as the huge development opportunities along with the constantly developing healthcare infrastructure in the region propel the growth of the regional market.
Also, factors such as the increasing adoption of mHealth devices in an increasing number of healthcare facilities impact the market growth positively. Besides, the emergence of high-quality healthcare infrastructure and institutions drives the market growth in the region.
Countries such as China, Japan, and India, account for the key contributors to the market growth due to the wide adoption of these mHealth devices.
Global MHealth Device Market – Competitive Analysis
The highly competitive, MHealth device market appears to be fragmented due to the presence of several active players accounting for the substantial share in the market. The key strategies traced from the analysis of recent developments of the key players include agreement & partnership, product launch, acquisition, and expansion. Matured players strive to develop a comprehensive range of safe and reliable solutions portfolio, utilizing breakthrough technologies.
Key Players:
Some of the top key players profiled in the mHealth device market outlook report, are Apple Inc., GE Healthcare, Allscripts, Cerner, Medtronics, Koninklijke, and Athenahealth among others.
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