mHealth Monitoring Diagnostic Medical Devices - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global mHealth Monitoring Diagnostic Medical Devices Market is accounted for $34.54 billion in 2019 and is expected to reach $137.97 billion by 2027 growing at a CAGR of 18.9% during the forecast period. Some of the key factors propelling the market growth include rise in prevalence of chronic disorders, aging population, technological advancements, entry of new players, Increase in government initiatives for the adoption of mhealth products, and increase in access to health care. However, high cost and cyber threat are likely to restraint the market.
mHealth is an abbreviation for mobile health, a term used for the practice of medicine and public health supported by mobile devices. The term is most commonly used in reference to using mobile communication devices such as mobile phones, tablets, computers and PDAs for health services and information. mHealth helps to reduce healthcare expenditure by limiting the number of hospital visits and also reduces re-admissions. In developing countries, mobile connectivity with healthcare professionals helps in decreasing the bridge between healthcare professionals and patients.
By product, the multi-parameter monitors are designed to give number of information on one screen and hence provides multiple information that is needed to understand the patient condition. It has emerged as a monitor to offer flexible solution for varying critical care need. These monitors provide reading such as heart rate, central venous pressure, non-invasive blood pressure, ECG, SpO2, PaCO2 and invasive blood pressure and temperature. The monitor has alarm where the parameters can be set and the care giver will be alerted for change beyond the set parameter.
On the basis of geography, North America leads the global market for mHealth monitoring and diagnostic medical devices during the forecast period, due to governments in developed countries such as the U.S. have begun to reach local communities by offering continual medical education (CME) classes. According to Partnership to Fight Chronic Disease (PFCD), chronic diseases are the leading cause of death and disability in the U.S. Nearly 133 million people in the U.S., or 45% of the population, have at least one chronic disease. These factors fuel the growth of the global mHealth monitoring diagnostic medical devices market in this region.
Some of the key players in mhealth monitoring diagnostic medical devices market include Omron Healthcare, FitBit, Inc., Apple, Inc., Medtronic, Inc., Bayer HealthCare, BioTelemetry, Inc. (CardioNet, Inc.), LifeWatch AG, Boston Scientific Corporation, DexCom, Inc., AT&T, Inc, iHealth Labs, Inc., Johnson & Johnson, Dräger AG, F. Hoffmann-La Roche Ltd., Masimo Corporation, Fora Care Inc, Medisana AG, Nonin Medical, Inc., Withings (Nokia), and Firstbeat Technologies Ltd.
• mHealth Applications
• mHealth Services
• Connected Medical Devices
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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