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. Increasing geriatric population coupled with rising prevalence of chronic diseases are the key factors supporting the growth of the mHealth monitoring and diagnostic devices market globally. The global mHealth monitoring and diagnostic medical devices market is growing at a CAGR of 43.3% from 2013 to 2019. The market, worth US$0.65 billion in 2012, will be worth US$8.03 billion by 2019. A report released by Transparency Market (TMR), titled “mHealth Monitoring And Diagnostic Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019”, examines various aspects of this market and is for sale on TMR’s website.According to report, the rising prevalence of diabetes and other chronic illnesses is the primary growth factor for the global mHealth monitoring and diagnostic medical devices market. The market’s growth is also influenced by the growing geriatric population across the world.
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The report also cites statistics that explains the rapid growth of the global mHealth monitoring and diagnostic medical devices market. It includes a statement from the Center for Technology and Aging, which states that there can be savings of nearly US$200 billion within the coming 25 years in medical expenses, due to the products and services provided by mHealth market players.Another citation is a statement by the International Diabetes Federation that the number of diabetics in the world in 2013 was 392 million and could easily increase to 592 million by 2035. This rise in the number of diabetics, as per the report, is one of the greatest growth factors of the global mHealth monitoring and diagnostic medical devices market. This goes along with the rapid growth rate of the glucose monitors segment.
Modern factors that could drive the global mHealth monitoring and diagnostic medical devices market include the use of smartphones in tandem with the current advancements in the mHealth market. The segment of multi-parameter monitoring devices could be a possible favored target for this level of innovation, allowing it to gain substantial market share in the near future.The top companies in the global mHealth monitoring and diagnostic medical devices market discussed in the report include Omron Healthcare, Medtronic Inc., LifeWatch AG, Johnson & Johnson, F. Hoffmann La-Roche Ltd., DexCom, Inc., Dräger AG, Boston Scientific Corporation, Bayer HealthCare AG, BioTelemetry Inc., AT&T, Inc., and Masimo Corporation.
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