Monitoring services fuel growth in mHealth market
Monitoring services are expected to fuel growth in the mobile health market, which Grand View Research forecasts will reach $49.1 billion by 2020, up from $1.95 billion in 2012.
The research firm expects monitoring services to continue to be the fastest growth mHealth segment, posting a 49.7 percent compound annual growth rate, or CAGR, through 2020.
Chronic disease management and post-acute care services contributed to monitoring services revenue. Mobile operators accounted for 48 percent of the mHealth market in 2012.
Grand View's prediction is similar to one made last year by Allied Market Research, which forecasts that the mHealth market would increase at a 32.3 percent CAGR, reaching $58.8 billion by 2020.
According to market research firm Visiongain, the top 20 mHealth players generated $2.8 billion in revenues in 2013. These players include Vodafone, Qualcomm Life, Epocrates, Apple, CardioNet and Nike.
Visiongain said mHealth benefits include better healthcare system processes, such as mobile appointment booking software and wireless retrieval of crucial healthcare data.
Frost & Sullivan says that mHealth will be a top growth area for healthcare this year, based on a survey of 1,835 healthcare execs. "It is an exciting area of opportunity for healthcare growth and will provide innovative solutions for stakeholders, both providers and patients alike, across the spectrum," explains Frost & Sullivan.
Mobile health hubs will boost telehealth market, says IHS
Top 20 mHealth players generated $2.8 billion in revenues last year, says Visiongain
mHealth will be top growth area in healthcare next year, says Frost