The growth of the mHealth Solutions market can be attributed to the penetration of smart gadgets, increasing utilization of connected medical devices for remote monitoring and mHealth apps in the management of chronic diseases. Also, factors such as the advent of advanced connectivity and network technologies, robust penetration of 3G and 4G networks to provide uninterrupted healthcare services, and rising focus on patient-centric healthcare are expected to drive the growth of the mHealth Solutions market during the forecast period.
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Factors driving market growth include the increasing penetration of smartphones, tablets, and other mobile platforms, increasing utilization of connected devices and mHealth apps for the management of chronic diseases, and the rising cost containment in healthcare delivery. In addition, the penetration of 3G and 4G networks for uninterrupted healthcare services and rising focus on patient-centric healthcare delivery further increases the demand for mHealth solutions in the healthcare industry.
The mHealth applications market is segmented into healthcare applications (designed for patients) by activity, and medical applications (designed for professionals). In 2016, the healthcare applications accounted for the largest share of the mHealth applications market. This growth is attributed to the factors such as increasing number of people using smart phones, the increasing preference for personal health and wellness app for self-health management and the increasing need for tracking daily activities and various health conditions of patients leading to the rising adoption of healthcare apps.
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On the basis of mHealth services, the market is categorized into remote monitoring, diagnosis services, treatment services, consultation services, fitness and wellness services, prevention services and healthcare system strengthening services. The remote monitoring services segment is expected to register the highest CAGR in the mHealth solutions market. The large share can be attributed to the increasing adoption of remote monitoring solutions by patients in remote rural areas and technological advancements in medicine and telecommunication.
The key players in the mHealth solutions market are Medtronic plc (Ireland), Apple, Inc. (U.S.), AirStrip Technologies, Inc. (U.S.), AliveCor, Inc. (U.S.), LifeWatch AG (Switzerland), Nike Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Jawbone (U.S.), OMRON Corporation (Japan), Withings (France), BioTelemetry Inc. (U.S.), athenahealth, Inc. (U.S.), AgaMatrix, Inc. (U.S.), iHealth Lab, Inc. (U.S.), AT&T (U.S.), Qualcomm (U.S.), Cerner Corporation (U.S.), and Cisco Systems, Inc. (U.S.), and Nokia Corporation (Finland).
