Published Date: 2020-10-05
Request a sample
According to the Graphical Research new growth forecast report titled “North America mHealth Market Value By Platform (Mobile Apps {Wellness Management [Diet and Nutrition, Lifestyle and Stress, Exercise and Fitness], Health Condition Management [Disease Specific, Medication Reminders, Women’s Health and Pregnancy, Healthcare Providers/Insurance]}, Wearable Devices {Fitness Devices, Blood Glucose Monitors, Cardiac Monitors, Neurological Monitors, Respiratory Monitors, Body & Temperature Monitors}), By Application (Communication and Training, Education and Awareness, Diagnostics and Treatment, Disease and Epidemic Outbreak Tracking, Remote Data Collection, Remote Monitoring), By End-use (Physicians, Patients, Insurance Companies, Research Centers, Pharmacies, Biopharmaceutical Companies, Government, Tech Companies), Industry Analysis Report, Regional Outlook (U.S., Canada)”, Estimated To Exceed USD 113.0 Billion By 2026
Increasing penetration of mobile phones and internet has led to increased usage of mobile healthcare applications, including fitness and medical applications. According to a report, approximately 2,000 healthcare providers in San Francisco currently use mHealth wearables for monitoring temperature to identify the people infected with coronavirus. Owing to this factor, there is a considerable increase in the adoption of mHealth technologies by patients and physicians. Additionally, emergence of digital healthcare attributing to U.S. based wearable device manufacturers, and e-prescription systems are some of the factors driving the market growth. Hence, the North America mHealth market will witness a significant growth in the upcoming period.
Rising incidences of chronic diseases has elevated the demand for the mHealth applications, thereby increasing the growth of overall mHealth market. With the increase in prevalence of chronic diseases, there is an increased need for patient monitoring services provided through mHealth applications and devices. According to the American College of Cardiology, in 2018, around 6.5 million people in the U.S. suffered a heart failure. According to a report, remote patient monitoring has proved to be cost-effective in Canada, by reducing the emergency visits for patients suffering with chronic diseases. Hence, several companies have developed mobile applications for easy monitoring of vital signs and keeping a track of patients, thereby increasing the growth of the mHealth market in North America.
However, the effectiveness and efficiency of certain devices, lack of technological awareness along with data privacy and security issues hinders the growth of mHealth market in the North America region.
Mobile apps segment was valued at USD 7,877.2 million and held largest revenue share in 2019. The largest share of this segment can be attributed to the growing and high usage of smartphones and healthcare apps with rise in chronic diseases in the North America region. Additionally, the demand for fitness apps for maintaining a healthy body is growing continuously in the U.S and Canada, thereby propelling the market growth. Hence, attributing to the above factors the mHealth market will witness an increase in usage of mobile applications that will fuel the overall growth of the market in North America region.
Disease and epidemic outbreak tracking segment held a substantial revenue share and is expected to witness fastest growth at 41.0% over the estimation period. This can be attributed to the growing prevalence of diseases including obesity, particularly in the U.S., resulting in to increased use of mHealth services. Increasing adoption of online diagnosis and consultation for diseases through mHealth apps in COVID-19 times reduces the effort of going to the hospitals, thereby reducing the exposure to the virus. Hence, the above factors will significantly fuel the growth of the mHealth market in the North America region.
Physicians segment was valued at USD 3,431.1 million and held largest revenue share in 2019. The larger share of this segment can be attributed to increased adoption of digital technology in healthcare facilities with rising healthcare expenditure. Additionally, the use of mHealth applications and devices has enabled the physicians to bridge the gap with patients effectively. Hence, the abovementioned factors will boost the mHealth market significantly in the North America region.
Canada mHealth market held substantial revenue share in 2019 and is forecasted to expand at 42.8% over the projection time period. The high market growth can be attributed to the increasing burden of chronic diseases such as obesity, hypertension and cardiovascular diseases. Additionally, easy availability of mHealth devices and services, rising government initiatives, presence of major companies. and development can contribute to mHealth market growth. Hence, the above factors will boost the mHealth market in the region.
Major industry players involved in market include Allscripts Healthcare Solutions, AT&T, Apple, Philips Healthcare, Masimo Corporation, Cardionet, Boston Scientific, BioTelemetry, Qualcomm and others. These companies are adopting strategic mergers, partnerships, collaborations and acquisitions to maintain their market position. For instance, in June 2019, Philips healthcare reported on Future Health Index (FHI), focusing on digital health technology. This strategic move assisted the company in expanding in strengthening their industrial position.
mHealth market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2015 to 2026, for the following segments:
Market Share, By Platform, 2015-2026 (USD Million)
Market Trends, By Application, 2015-2026 (USD Million)
Market Value, By End-use, 2015-2026 (USD Million)
The above information is provided for the following region and countries:
The great explorer of the truth, the master-builder of human happiness no one rejects dislikes avoids pleasure itself because it is pleasure but because know who do not those how to pursue pleasures rationally encounter consequences that are extremely painful desires to obtain.
Read More