Global mHealth solutions market estimated to reach USD 59.15 billion by 2020
According to a research report published by Markets and Markets, the global mHealth solutions market is estimated to reach USD 59.15 billion by 2020 by growing at a CAGR of 33.4% over 2015-2020. North America is currently leading the global market with the largest share of 32.1% in 2014, followed by Europe, Asia Pacific, Latin America, and the Middle East and Africa. The major factors driving the growth of the market include, rising exposure to smart gadgets, increasing penetration of medical devices and mHealth apps’ entry into patients’ lives for management of chronic diseases, rising need for affordable treatment alternatives and availability of the 3G and 4G networks to provide undisturbed healthcare services. The co-existence of aspects such as risk of data theft, strict regulations, low level of deftness of physicians in selecting apps and training patients and inconvenience of finding mHealth apps on Android and Apple stores may limit the growth of the market. The blood glucose monitors segment, among various segments of mHealth solutions market is expected to grow at a CAGR of 26.1% over the forecast period and would continue to dominate over other segments owing to the rising number of diabetes patients. Germany, the UK, India and China are expected to provide ample growth opportunities for the major global players of the market during the forecast period. The key players in the mHealth solutions market are Medtronic, Apple, Sanofi, Mobisante, AirStrip Technologies, AliveCor, LifeWatch, Nike, Koninklijke Philips, Jawbone, Omron Corporation, Withings, BioTelemetry, athenahealth, AgaMatrix, iHealth Lab, AT&T, Qualcomm, Cerner Corporation, Diversinet and Cisco.