The global mHealth solutions market is projected to reach USD 90.49 billion by 2022 from USD 21.17 billion in 2017, reflecting a CAGR of 33.7 percent, estimates MarketsandMarkets. The growth of the market can be attributed to the growing demand for healthcare applications, the advent of advanced connectivity and network technologies, robust penetration of 3G and 4G networks to provide uninterrupted healthcare services, and rising focus on patient-centric healthcare.
Based on product and service, the connected medical device segment dominated the mHealth product and service market in 2016. The mHealth solutions market growth can be attributed to the shifting consumer preferences toward a healthier lifestyle, need for continuous monitoring of various chronic health conditions of patients, and the need to overcome the financial burden on the caregivers.
Based on mHealth services, the mHealth solutions market is categorized into remote monitoring, diagnosis services, treatment services, consultation services, fitness and wellness services, prevention services and healthcare system strengthening services. In 2016, remote monitoring services accounted for the largest share of the global mHealth services market. The large share can be attributed to the increasing adoption of remote monitoring solutions by patients in remote rural areas and technological advancements in medicine and telecommunication.
The key players in the market are Medtronic, Apple Inc., AirStrip Technologies, AliveCor, LifeWatch AG, Nike Inc., Koninklijke Philips, Jawbone, OMRON Corporation, Withings, BioTelemetry, athenahealth Inc., AgaMatrix Inc., iHealth Lab Inc., AT&T, Qualcomm, Cerner Corporation, Cisco System, and Nokia Corporation.