Transparency Market Research (TMR) has published a
new report titled, ‘mHealth Monitoring Diagnostic Medical Devices Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’.
According to the report, the global mHealth Monitoring Diagnostic Medical Devices market was valued at US$
29.0 Bn in 2018 and is projected to
expand at a CAGR of 20.5% from 2019 to 2027.
Overview
·
mHealth involves delivery of health care related services to end-users
through mobile phones (smartphones), tablets, and medical sensors. mHealth
includes connected medical devices, mHealth applications, and mHealth services.
·
North America dominated the global mHealth Monitoring Diagnostic Medical
Devices market in 2018 and the trend is anticipated to
continue during the forecast period. Increase in prevalence of chronic
diseases, diabetes, rise in health and fitness concerns among general
population, and surge in penetration of smartphone and internet services are
expected to drive the market in North America.
·
However, Asia Pacific is likely to be a highly lucrative market for
mHealth Monitoring Diagnostic Medical Devices and it is expected to expand at a
high CAGR during the forecast period
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Increasing Government
Initiatives to Drive Market
·
Increasing government initiatives for the adoption of mhealth products is
likely to drive the market during the forecast period
·
In July 2016, Japan's Ministry of Economy, Trade, and
Industry announced plans to launch a demonstration project to improve diabetes
management through the utilization of IoT and health information
·
In July 2017, the European Commission launched public
consultation on how Europe should promote digital innovation in health care for
the benefit of citizens and health systems in Europe
Connected Medical
Devices Segment to Dominate Market
·
Based on product, the global mHealth Monitoring Diagnostic Medical Devices
market is classified into connected medical devices, mHealth applications and
mHealth services.
·
The connected medical devices is estimated to claim the largest market
share in 2018 followed by mHealth applications segments. The connected medical
devices segment is projected to grow during the forecast period as these
devices reduce health care expenditure incurred during hospital visits for
monitoring vital parameters.
·
Moreover, increasing awareness about health and fitness among people across
the globe is likely to drive the segment during the forecast period.
·
Increasing penetration of Internet across the world and technological
advancements such as introduction of 3G/4G/5G Internet services are likely to
drive mHealth applications segments during the forecast period.
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Heart Rate Monitors to be
Highly Lucrative Sub-Segment
·
In terms of products, the global connected medical devices segment has been
segmented into heart rate monitors, activity monitors, electrocardiograph,
fetal monitoring, neuromonitoring, and others.
·
The heart rate monitors sub-segment is expected to hold the major market
share in 2018 due to increasing adoption of technologically advanced products
and advantages of heart rate monitors such as provision of real-time health
data, thereby allowing patients to track heart rate from anywhere anytime.
B2C Segment to be Highly
Lucrative Segment
·
In terms of end-user, the global mHealth Monitoring Diagnostic Medical
Devices market has been segmented into B2C and B2B.
·
The B2C segment is projected to witness strong growth during the forecast
period due to increase in awareness and adoption of health care IT products by
patients.
·
So, the market share of the patient sub-segment is predominant over other
caregiver sub-segment and is expected to grow during the forecast period.
Increase in availability of different apps and web based solutions for patients
to view and store medical records and see medical test results online is
expected to propel this sub-segment.
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North America to Dominate
Global Market
·
In terms of region, the global mHealth Monitoring Diagnostic Medical
Devices market has been segmented into North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America dominated the global
mHealth Monitoring Diagnostic Medical Devices market in 2018,
followed by Europe.
·
North America accounted for major share of the global mHealth Monitoring
Diagnostic Medical Devices market in 2018, due to increasing
funding and mergers & acquisitions
·
In June 2017, Teladoc acquired Best Doctors, a provider of
virtual medical consultation. Under the terms of the agreement, the purchase
price comprised US$ 375 Mn cash and US$ 65 Mn of
Teladoc common stock.
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Competitive Landscape
·
The global mHealth Monitoring Diagnostic Medical Devices market is
fragmented in terms of number of players. Key players in the global market
include Dexcom, Inc., Apple, Inc., FitBit, Inc., Withings (Nokia),
Proteus Digital Health, Omada Health, Inc., WellDoc, Inc., Livongo Health,
Noom, Inc., Ginger.io, Inc., Propeller Health, 2Morrow, Inc. Canary Health,
Mango Health, BiogeniQ Inc., Twine Health, Inc., Glooko, Inc., Firstbeat
Technologies Ltd, Claritas MindSciences, Big Health, Dthera Sciences, Virta
Health Corp, Zest Health, LLC, Meru Health, Inc., HealthMine, Inc., Pear
Therapeutics, Inc., BioTelemetry, Inc, Blue Mesa Health, and Digital
Therapeutics
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