The global market for mHealth (Mobile health) is expected to reach USD 49,119.2 million by 2020, according to a new study by Grand View Research, Inc. Monitoring services is expected to remain the dominant and fastest growing market segment, with market revenue of USD 1,227.5 million in 2012, and an estimated CAGR of 49.7% from 2014 to 2020.
Per capita healthcare expenditures have been increasing, which makes medical services unaffordable for a large percentage of the population. As a result, demand for mobile health is expected to increase considerably over the next six years. In addition to smartphone proliferation, uptake of 3G and 4G networks is expected to increase demand for telemedicine services. Aging population and growing incidences of diseases linked to changing lifestyles have intensified the need for affordable and accessible healthcare. Concerns among users, regarding the safety and privacy of information, along with the need for secure infrastructure, are the key challenges for market participants.
The report “mHealth Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/mhealth-market
Further Key findings from the study suggest:
• The global market was valued at USD 1,950 million in 2012, and is expected to grow at a CAGR of 47.6% from 2014 to 2020. • Chronic disease management was the largest contributor to the monitoring services market, with higher demand from developed markets of North America and Europe. The market for post acute care services accounted for 19.5% of the overall monitoring services revenue in 2012. Diagnosis services are more prevalent in developing markets, and growing adoption of these services is expected to considerably augment access to healthcare in these regions. • Mobile operators accounted for 48% of the overall market in 2012, with majority of their revenue originating from...
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