The report – “mhealth Apps & Solutions – Global Trends & Forecast to 2018″ has reported that seeing the current growth trend in mobile health industry, the mHealth Applications and solutions market will be worth $20.7 billion by 2018. The report analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.
The mHealth market comprises of areas like connected medical devices, mobile technology in healthcare and its related applications. The mHealth market is estimated to be at $6,336 million in 2013 and is poised to reach $20,683 million by 2018 at a CAGR of 26.7%.
The current market is dominated with connected devices having 85% of total revenue contribution. Cardiac monitoring and fitness trackers are also one of the most prominent uses of mobile applications. mHealth’s success also lies with the various factors driving the industry such as growing adoption of mobile devices, better and more robust connectivity, growth of telecom industry, increasing awareness of chronic disease management via mobile devices, and a promise of better cost efficient medical practices. In contrast, stringent FDA and EU regulations inhibit market growth by putting too many restrictions.
In terms of region-wise growth since the inception of mHealth, North America has contributed the maximum to both the devices and applications markets. The Asian mobile healthcare market is majorly contributed to by Japan and China, whereas the U.K. represents the most promising country in Europe.
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