Global mHealth market is projected to reach a size of $ 132.2 billion by 2023. The market is mainly driven by mobile phones; increasing application of connected medical devices and mHealth application; and increasing healthcare cost. In addition to this growing geriatric population, rising demand for patient monitoring services and rising focus on patient-centric healthcare service also supports the growth of the market.
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Based on the offering, services, and mHealth apps. The market for mHealth apps is projected to grow faster, at CAGR 38.9% during the forecast period. This is a mobile phone app and mobile application downloads.
The blood glucose monitors, ECG monitors, multiparameter monitors, pulse oximeters, sleep apnea monitors, and others. Among these, blood pressure monitors held in the largest share of 28.7% in the mHealth connected devices market in 2017. This is attributed to the prevalence of high prevalence of chronic diseases and easy mobility of these devices.
Based on the stakeholder, the device marketers, application / content players and healthcare providers. CAGR of 37.4%, the fastest growth in this market is expected of the application / content player report.
Some of the key players in the mHealth market are Medtronic plc, Koninklijke Philips NV, Omron Corporation, Johnson & Johnson, Athenahealth Inc., Cisco Systems Inc., iHealth Labs Inc., AliveCor Inc., AgaMatrix Inc., and AirStrip Technologies Inc.