mHealth Market – Know the Revenue and Profit-Sources of the Industry

The primary driver fueling mHealth market expansion is the growing emphasis on leveraging wearables and smart devices to improve personal fitness and health. Additionally, it is projected that expanding mHealth platform and increasing use of technology by doctors and patients as well as rising internet and smartphone usage would drive market expansion. The demand for mobile health applications is also rising as a result of rising use of digital health services for the purpose of remote patient monitoring, which is anticipated to drive revenue-generation opportunities in mHealth industry.

Additionally, increasing consumer awareness about the benefits of using mobile health solutions and encouraging government implementation and promotion of remote digital healthcare are anticipated to accelerate market expansion in the years to come. In the future years, it is also projected that the growing usage of smartphones amongst teenagers and adults would is likely to trigger development of mHealth platforms and technologies.

Additionally, it is projected that the market for mHealth is likely to be driven by the tendency toward patient-centric and preventative measures from traditional healthcare methods. The global mHealth market is also expected to rise more quickly owing to the increasing demand for mobile medical platforms and favorable opinions about real-time patient care amongst healthcare professionals.

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Rising Adoption of Healthcare Applications and Smartphones to Drive Demand in the Market

The market for mobile health solutions is expected to be dominated by the mHealth apps category. The high as well as increasing adoption of smartphones and healthcare applications, and also global increase in chronic and lifestyle-related disorders, are responsible for a significant portion of this segment.  Additionally, mHealth applications are being used more widely due to the growing emphasis on self-health management and preventative strategies among patients worldwide. These factors are likely to drive future market demand for mhealth.

These patient records are gathered through mobile health devices, wearables, and various wireless electronic equipment. Additionally, mHealth application is used to digitally store the patient data that has been gathered in the cloud. Healthcare practitioners can use this saved data to analyze parameters that are connected to their patients’ health, which is likely to drive growing demand for mHealth. For instance, the mHealth Blood Pressure Monitor gathers information on changes in patient BP. Healthcare practitioners evaluate these data right away to assess the disease’s severity. Additionally, there are many different kinds of medical products and services on the market. For instance, a sleep and apnea monitor, heart monitor, neurological monitor, blood pressure monitor, and others.

The market for connected medical devices was led by vital sign monitoring devices. The segment of connected medical devices is likely to continue to be dominated mostly by vital sign monitoring devices. These trends—a rise in the incidence of chronic diseases, a rise in the number of people who monitor their vital signs at home, and a rising emphasis on lowering the treatment cost of diseases linked to a certain lifestyle—are all contributing toward growth of the segment.

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North America Market to Thrive on High Prevalence of Chronic Diseases and Rising Healthcare Costs

The global mHealth market is led by North America, which holds a significant portion of the industry. The region is expanding due to presence of sophisticated network infrastructure, expanding population of elderly people, rising healthcare costs, and increasing prevalence of chronic diseases. Use of mHealth services in the region is also rising due to encouraging government initiatives as well as expanding usage of mobile healthcare applications. The need for real-time monitoring is also being driven by the region’s growing burden of cardiovascular diseases. Major health difficulties can be avoided and the fatality rate from sudden cardiac death can be decreased by the presence of mHealth applications that can deliver real-time information about cardiovascular health.

Additionally, the Asia Pacific region is predicted to expand profitably during the forecast period as more people in the region use smartphones.