Global mobile health solutions market to grow at a CAGR of 34.88% through 2018

Source: TechNavio.

TechNavio, the independent tech-focused global research firm, has reported that the global mobile health solutions market is expected to grow at a CAGR of 34.88% through 2018.

The company defines mobile health solutions as those conveyed using smartphones and tablets, encompassing the distribution of healthcare services, the gathering of community and clinical health information, the provision of information associated with healthcare to practitioners, researchers, and patients, as well as direct care.

According to TechNavio, the market is highly fragmented, with mobile application developers and providers being the central sponsors to the market revenue.

“The most important trend in the market is the rapid growth of remote patient monitoring. Remote monitoring helps patients to reduce costs by lowering the time spent in hospitals and the frequency of visits to the physician or the hospital. Moreover, it offers quick service and provides ease of functionalities given rising healthcare expenditure. Thus, the demand for aging solutions and post-acute care services are also increasing the demand for mobile health solutions,” says Faisal Ghaus, Vice President of TechNavio.
The report highlights the following:

Key market drivers

• Increased usage of 3G and 4G networks
• Increased demand for advanced health monitoring systems
• Emergence of new EMR applications on mobile devices
• Rapid increase in adoption of smartphones and tablets

Key market trends

• Favourable government policies supporting mobile healthcare
• Usage of predictive modelling in mobile applications
• Demand for remote healthcare monitoring
• Increased demand for diabetes management products