Asia Pacific Mobile Health Market to grow at a CAGR of 37.82% during 2016 to 2021

The Asia Pacific Mobile Health market was worth USD 3.15 Billion in 2016 and is expected to reach USD 15.64 Billion by 2021 at a CAGR of 37.82%. Mobile health means to use mobiles and other communication technologies to educate user about healthcare services. The Asia-Pacific mobile health market is expected to witness significant growth during the forecast period.

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Mobile health features use of technologies like Data collection software, Patient Monitoring devices, microcomputers, telecare devices, smartphones and its apps and wireless enabled laptops for monitoring health. Mobile health evolved greatly because of development of smartphones and wireless technologies.

The main factors that are driving this market are to reduce the amount spent on healthcare, prevalent use of Mobile Smartphones, prospect of personal healthcare management, increase of aging population, Technological advances like 3G and 4G, rising incidence of persistent diseases, need for cost efficient healthcare delivery and increased awareness among people about personal healthcare management. Here, Market is still at a developing stage so, market can increase tremendously here. However, the risk of data theft, stringent regulations by FDA and EU, lack of proper guidance from physicians in selecting apps and resistance from traditional healthcare providers in developing countries are some of the key factors that restrain the overall market growth during forecast period.

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Mobile Health market is segmented into connected devices market (Glucose Meter, Pulse Oximeter and Blood Pressure Monitor) and applications market (Women’s Health, Weight Loss, Chronic care management, health and fitness, Medication, and Personal Health Record). Based on services, market can be further segmented into fitness and wellness, Remote Monitoring Consultation, Prevention. Remote monitoring market has highest revenue but fitness and wellness segment is expected to grow tremendously with the greatest CAGR during forecast period. This region has highest CAGR because of large population, increased healthcare expenditure, increased investments from major players.

 

Major players in this market are I health lab.inc, Philips healthcare, Cardionet.inc, QUALCOMM life, Samsung electronics co ltd, Medtronic.inc, Vodafone.

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