Smartphones, mobile health apps to fuel growth in mHealth market, says Juniper
The combination of smartphones and mobile health applications and devices are fueling a rapid increase in mHealth services, according to Juniper Research.
Smartphone-based mHealth is forecast to grow more rapidly than mHealth services delivered through custom-made medical devices.
Anthony Cox, a Juniper analyst and author of the report, said: "mHealth hardware linking directly to a companion app on the smartphone has become an exciting new area of mHealth."
According to Juniper, mHealth includes basic health services, remote treatment and diagnosis, and remote patient monitoring, such as cardiac outpatient monitoring and chronic disease management.
Remote patient monitoring of all kinds could save the health care industry $36 billion over the next five years, primarily in North America.
"Even though remote patient monitoring, particularly for chronic diseases, is still at a very early state in the development cycle, it fits well with new health care practices and the goal of keeping patients out of hospital," an accompanying white paper (reg. req.) explained.
The United States will be the most promising new market for cardiac outpatient monitoring followed by Western Europe, the research firm predicted.
The global mHealth market is forecast to increase at a 30.5 percent compound annual growth rate over the next five years, reaching $23.5 billion by 2018, according to a recent report by MarketsandMarkets.
The two major segments that will contribute most to that growth are mobile cardiac monitors and independent ageing products.