Global Mobile Health (mHealth) market will reach $58.8 billion by 2020 - Allied Market Research

Allied Market Research published the new research report titled “mHealth Market (Devices, Applications, Services & Therapeutics) - Global Mobile Healthcare Industry Size, Analysis, Share, Growth, Trends and Forecast, 2012 - 2020” which established that the global mHealth market was worth $6.7 billion in 2012 and will reach $58.8 billion in 2020, growing at a CAGR of 32.3% from 2013 to 2020. The growth will be largely fueled by the growing per capita healthcare expenditure in advance developing countries coupled with increasing incidences of lifestyle driven diseases.

Get the full access of the report at

The global mHealth market is going through a series of changes largely driven by the increasing adoption of smartphones and the growing number of mobile health applications. There is a growing preference for monitoring services as compared to other services and applications due to the rising incidences of chronic diseases such as coronary artery disease, congestive heart failure, hypertension and others. Monitoring services segment has a high growth and high market share and is expected to be the fastest growing segment in the coming years. The monitoring services market is also driven by the increasing demand for independent aging solutions and post-acute care monitoring. The diagnostic services are the second most preferred services due to the rising demand for medical services from rural areas. The other services include wellness, prevention, and treatment, among others. This segment will be driven by the demand for treatment services.

The most impactful trend witnessed in the mHealth market is the growth in the penetration of smartphones across the globe. It is estimated that smartphones are likely to account for more than half the global sales of mobile handsets by 2015, due to its rapidly falling prices in the market. Increasing penetration of smartphones and consumer adaptability to smart devices will enable mobiles to play an important role in the healthcare sector.

The mHealth market is also getting impacted by the growing number of mobile health applications such as DrawMD App, Isabel App, Visible Body App, VaxNation App and others. mHealth applications have become an essential tool for improved communication between doctors and patients.

Patients in developed countries are spending heavily on healthcare services. Rising healthcare expenditure is promoting the growth of mHealth applications in the market. The waiting time for elected surgeries such as cataract surgeries, hip replacement, knee replacement and other major surgeries is also very high. mHealth applications are gaining popularity due to their quick services and easy use. Both doctors and patients are benefitted by mobile applications since it is a fast and efficient way to stay in touch and exchange healthcare information.

Popular posts from this blog

Reinforced honeycomb sandwich material market

Technology Trends Drives The Capsule Endoscopy System In 2015

Contactless Payments Market Expected to Reach $25,565 Million by 2023