Technological advancements in semiconductor industry are proving to be a huge boost for a variety of business verticals. Constant inventions and technological advancements in portable devices like smart phones, notebooks and other wireless devices are responsible for growing expectations from healthcare and other industries. Integration of wireless communication in the medical devices has a huge influence on the semiconductor and mobile healthcare market since past few years. Mobile health or mhelath is a medicinal service offered by mobile devices that work with help of various wireless technological capacities, including WLAN, WMAN and WPAN.
The basic motive of using these mobile devices is to record and store in the form of images and digital representation for better monitoring individual health conditions of various patients. Smart phones and tablets are the most popular devices used for this purpose. Integration of latest technologies has contributed to the immense success of the mobile healthcare market, making it one of the fastest growing industries of the recent past. Segmentation in the market is based on the types of portable devices, semiconductor components used in these devices and mobile equipment used for the easy availability of these products.
Cardiac monitors, respiratory monitors, hemodynamic monitors, wearable fitness and wellness devices and independent ageing devices are the basic five segments of the market. Several other devices such as ultrasound equipments and insulin pumps are also included in the market. as far as mobile components and equipments are concerned, industry analysis about the IC chips, displays, sensors, processors and memory details also hold a special place. Geographical demands for each of these segments differ, which influences regional market trends for both semiconductor and Portable Medical Devices Market
According to the marketing research and forecasting trends, the entire market is expected to increase at a handsome CAGR from 2013 to 2018. Reports claim that the market will maintain an estimated CAGR of 30.5% for these five years, which makes it an industry booming with business and investment opportunities. As of 2013, the market has an estimated revenue of $6.21 billion, which is expected to reach past $23.49 billion by 2018. These figures speak for the remarkable growth that this industry is expected to witness.
According to the current geographical demands, North America is leading the mobile healthcare market with major shares and increasing demand. Improving healthcare standards, encouraging environment for medical reimbursements and strong insurance policies are the major drivers for the industry. These are also the contributing factors for the increasing demand of these devices in several developing countries from Asia Pacific, Middle East, Latin America and Africa.
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