|Source: Grand View Research|
Mobile health highlights the risks and opportunities of pharmaceutical and Medtech industries. Surge in number of purely digital players transformed the mHealth app market
According to the estimates of Grand View Research, the global mHealth market size was valued at USD 4.75 billion in 2014 and is expected to witness substantial gains throughout the forecast period. Improvement in 3G & 4G networks and favorable government initiatives in healthcare IT owing to increase in demand for such services. According to WHO Global Observatory for eHealth, about 58% of the health authorities around the globe is involved in the development and adoption of mHealth in health sector. High penetration of smartphones coupled with technological advancement in smartphone applications is also anticipated to further boost up the demand for mHealth services.
Furthermore, the growing adoption of mobile applications paved the way for driving up the demand for various mHealth apps that can be used for fitness tracking, diagnostic & monitoring, consultation, medical information & education services, chronic care management, and ageing solutions. Growing demand for mHealth technology to provide remote patient monitoring services and to run surveillance programs in developing countries, which is further anticipated to propel the market growth. However, lack of reimbursement policies, poor network coverage especially in emerging economies, and data security issues can hamper the growth of mHealth market.
|Source: Grand View Research|
mHealth: Market Segmentation
Based on the services, the market is segmented as monitoring services, diagnosis services, healthcare system strengthening, and other services. Monitoring services accounted for major share of over 65% in 2016 pertaining to the factors such as increasing ageing population and rising incidence of chronic diseases such as obesity & diabetes, congestive heart failure, cancer. mHealth helps in monitoring of various health parameters such as cholesterol levels, blood pressure, heart rate, and nutrient intake.
There is continuous advancements in diagnostic device technology that integrates digital technology in medical devices. It enables patients to send clinical data to the healthcare providers through their smartphones. Healthcare system strengthening services provide healthcare surveillance and administration, emergency response and support to healthcare providers. Other services consist of prevention and wellness of patients through mHealth applications. It focused on elderly care, drug abuse prevention, child and women care, smoking de-addiction and healthy living.
Mobile operators held the largest market share of about 49% in 2016. MNO’s provide 3G and 4G broadband network coverage. mHealth allows healthcare professionals to handle appointments and to monitor remote patients. Device vendors are involved in integrating digital technology in medical devices that allows transmission of clinical data such as blood pressure, heart rate, blood-glucose levels and others. Leading vendors such as Biotrick, Medtronic, ResMed and Philips Respironics are successfully using this technology.
Some of the key factors attributing to the market growth include rising number of health and wellness apps with growing adoption of smartphones by population. Asia pacific region is expected to be the fastest growing segment with a CAGR of 27.2% over the forecast period.
The growth in the region is driven by the factors such increased healthcare awareness, improving network infrastructure, rising rural population and government initiatives towards digitalization in countries like India and China.
In addition, improving internet connectivity, reduction in costs and increasing use of mHealth for various surveillance and awareness programs for rural areas drive the growth of mHealth in the region. Growing number of surveillance programs for AIDS & other infectious disease and rising incidence of chronic diseases in Latin America and Middle East Asia drives the demand for mHealth applications.