According to a new research from BCC Research, the mobile health (mhealth) industry revenue growth will reach a staggering $21.5 billion in 2018. The mHealth industry is expected to grow at an impressive compound annual growth rate (CAGR) of 54.9%. Europe is coming up as a strong market in the mHealth division and is expected to outdo the current leader, North America, by 2018. [@HealthITplus]
BCC Research, a research firm publishing technology market reports, says smartphones will play key role in enabling new technologies in the mobile health market. Smartphones will also augment significant improvements in other areas such as wireless coverage and remote patient monitoring, all of which are key ingredients for the mHealth industry.
“mHealth solutions can help to rapidly improve healthcare access in developing countries and maintain quality healthcare services in the face of increased patient burden in the developed countries,” BCC healthcare analyst Dr. C. L. Barton said in a statement. “In addition, mHealth technologies can provide companies with a competitive advantage in the increasingly competitive pharmaceutical environment.”
BCC Research released a report earlier this year that predicted the global market for EHR-compatible wireless patient monitoring devices and mobile-enabled EHR software would hit $23.5 billion by 2018. The report also said that market was valued at $9.6 billion in 2012 and $11.2 billion in 2013.
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