At 38% CAGR, mHealth Market to Hit $289.4 Billion by 2025: Global Market Insights, Inc.
The United States mHealth Market valued at over USD 8,057.6 million in the year 2018 and projected to achieve robust CAGR from 2019 to 2025 supported by presence of large number patient pool and increased affordability in the country.
SELBYVILLE, Del., Feb. 27, 2019 /PRNewswire/ -- Germany mHealth market is poised to reach USD 22,277.1 million by 2025. Major factors driving the global market is increased adoption of wearables and health apps for monitoring personal health. High disposable income coupled with momentous growth in companies offering technologically advanced wearables will foster Germany market in the future.
Global mHealth Market is expected to hit USD 289.4 billion by 2025; according to a new research report by Global Market Insights. Increasing focus on personalized care and precision medicine will stimulate mHealth market growth over the forecast period. Various pharmaceutical and healthcare companies are using apps and wearable devices to collect patient information and use that data to provide a holistic solution. Increasing online patient communities, growing usage of social media platforms for providing healthcare solutions and rising influence of advanced technologies will boost industry growth in the future.
Growing inclination and adoption of smartphone and tablets will propel the market in the future. In 2018, about 78% of the UK population used mobile phones compared to 17% in 2008. Sharp increase in mobile phone users is attributable to growing technological advancements coupled with better connectivity, thereby augmenting mHealth market growth.
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Favorable government initiatives and regulations for promoting usage of health apps will foster industry growth across the forecast timeframe. For instance, National Health Services (NHS) in UK has developed NHS Health Apps Library that have stringent criteria and judge the app for its safety and technical proficiency. Such initiatives will increase the adoption rate of mobile health services, thereby driving business growth in the future.
Mobile apps market is estimated to reach USD 198,601.3 million by 2025. Increasing number of smartphone users in both developed and developing economies will be the major driving factor. Moreover, various government initiatives to ensure safety and proficiency of health apps will favor mobile apps market growth in the future.
Browse key industry insights spread across 300 pages with 452 market data tables & 8 figures & charts from the report, "mHealth Market Size By Platform (Mobile Apps {Wellness Management [Diet and Nutrition, Lifestyle and Stress, Exercise and Fitness], Health Condition Management [Disease Specific, Medication Reminders, Women's Health and Pregnancy, Healthcare Providers/Insurance]}, Wearable Devices {Fitness Devices, Blood Glucose Monitors, Cardiac Monitors, Neurological Monitors, Respiratory Monitors, Body & Temperature Monitors}), By Application (Communication and Training, Education and Awareness, Diagnostics and Treatment, Disease and Epidemic Outbreak Tracking, Remote Data Collection, Remote Monitoring), By End-use (Physicians, Patients, Insurance Companies, Research Centers, Pharmacies, Biopharmaceutical Companies, Government, Tech Companies), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, Italy, France, Spain, Russia, Poland, Denmark, China, Japan, India, Australia, Brazil, Mexico, Argentina, Peru, South Africa, Saudi Arabia, UAE), Application Potential, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/mhealth-market
Remote monitoring business will grow at a momentous rate of 38.6% CAGR across the forecast period. High growth rate is attributable to increasing prevalence of chronic diseases and growing need to monitor the same. Remote monitoring of chronic diseases gives healthcare providers and caregivers real-time insights into patient's disease profile and enables them to suggest appropriate therapy course.
Insurance companies market is expected to reach USD 36,883.9 million by 2025. Increased data processing power and improved communication methods are enabling insurance companies to lower cost and identify potential clients. Furthermore, mHealth technology reduce administrative costs of health insurers, making policy renewals easier, that will further propel business growth.
China market is estimated to expand with 39.8% CAGR over the forecast timeframe owing to increasing prevalence of chronic diseases as well as substantial number of elderly people suffering from enfeebling condition. Mature telecommunications infrastructure and growing adoption of mobile apps for availing healthcare solutions will stimulate China mHealth market over the coming years.
Some of the notable industry players operating in global mHealth market are AT&T, Vodafone, Allscripts Healthcare Solutions, mQure, Apple Inc, Samsung Electronics Corporation, Omron HealthCare Inc., Philips healthcare, Bayer Healthcare, Cardionet Inc., LifeWatch AG, Boston Scientific, Sanofi and Qualcomm Inc. Industry players are focusing on developing new superior products capable of offering holistic healthcare solution to patients. Moreover, market players are adopting strategies such as merger & acquisition, strategic collaboration and geographic expansion to consolidate their market position as well as strengthen operational capability.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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