mHealth Services Market Driven at 23.9% CAGR by Demand for Homecare : Transparency Market Research

By: GlobalNewswire News | Published: Tuesday, October 20, 2015

Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research's new market study "mHealth Services Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" is an in-depth analysis of the global mHealth market, aided by detailed analysis of key regional markets and expert projections regarding the course of the market for the forecast period. Displaying an explosive 23.9% CAGR from 2014 to 2020, the global mHealth market is expected to be highly promising in the coming years. If the figures hold true, the mHealth market will be valued at US$23.39 billion by 2020, increasing from US$5.79 billion in 2013.Excessive penetration of smartphones globally, the availability of high-speed telecommunication networks, and increasing awareness about the advantages of mHealth services are key factors leading the market to an escalating growth trajectory.Additionally, increasing prevalence of chronic diseases and need for affordable healthcare services for the masses is boosting demand for mHealth services. Inadequate presence of conventional brick and mortar healthcare centers to fulfill the healthcare needs of the population worldwide is driving demand for mHealth services.

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The global mHealth market benefits primarily from a combination of rising awareness about the benefits of mHealth services and rising ubiquity of 3G and 4G communication networks. The convenience of mHealth services to both doctors and patients has come to the fore in recent years, thanks to growing preference for homecare, as rehabilitation in the comforts in their own homes is preferred by a majority of patients. Homecare also eliminates the hospitalization bills for patients and frees up hospital resources for other, perhaps more urgent uses. This, according to TMR analysts, is one of the most prominent drivers of the mHealth services market.The growing demand for homecare is complemented by the emergence of next-gen communication technologies, which have made the rise of mHealth services possible. While 'mHealth' was limited to calls between the patient and the doctor in the past, the emergence of 3G and 4G communication technologies has made it possible for the two parties to hold video calls, making the interaction more intimate.

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mHealth services also include monitoring and diagnostic services that would not have been possible without modern smartphone technology. Thus, the unending rise of the smartphone market has broadened the horizons of the global mHealth services market.Accordingly, the dominant application segment of the global mHealth market is that of remote monitoring, collaboration, and consultancy. This segment is expected to grow at a stunning CAGR in excess of 28% in the forecast period, considerably higher than the overall market's CAGR. This segment is also aided by the growing geriatric population all over the world, since elderly people are more likely to fall prey to chronic diseases that require long-term monitoring, and also to prefer homecare over hospitalization.

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Due to the prevalence of high-end communication technologies and easy incorporation of the same in existing healthcare infrastructure, the North America market for mHealth services emerged as the leader in the global market in 2013. Europe followed North America, but continuous advancement of the healthcare sector in Asia Pacific countries is expected to elevate the share of this regional market in the global market.The report also includes a detailed analysis of major companies operating in the global mHealth services market, such as AT&T Inc., Koninklijke Philips N.V., Symantec Corporation, Vodafone Group plc, and Alcatel-Lucent Corporation.

The global mHealth market is divided as follows:

Global mHealth Services Market, By Application

General healthcare and fitness
Medication information
Remote monitoring, collaboration and consultancy
Healthcare management
Health data and record access

Global mHealth Services Market, By Services Type

Solutions for patients
Wellness
Prevention service
Monitoring service
Diagnostic service
Treatment service
Information and reference
Healthcare system strengthening
Emergency response
Health care practitioner support
Healthcare surveillance

Global mHealth Services Market, By End User

Public/Private healthcare institutions
Physicians
Healthcare workers
Individuals

Global mHealth Services Market, By Geography

North America
Europe
Asia Pacific
Rest of the World

Other Reports Published By Transparency Market Research:

Mobile Point-of-Sale (mPOS) Market

http://www.transparencymarketresearch.com/mpos-market.html

Enterprise Mobility Market

http://www.transparencymarketresearch.com/enterprise-mobility-market.html

Mobile Applications Market

http://www.transparencymarketresearch.com/mobile-applications-market.html

Mobile Robotics Market

http://www.transparencymarketresearch.com/mobile-robotics-market.html

Browse All Other Technology & Media Market Research Reports: http://www.transparencymarketresearch.com/technology-market-reports-8.html

About Us

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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