mHealth revenue to surpass $28 Billion in 2018, says SNS Telecom & IT
DUBAI, UAE. 27th May 2018: SNS Telecom & IT's latest research report indicates that global mHealth (Mobile Healthcare) revenue is expected to surpass $28 Billion by the end of 2018.
A key enabler in the digital transformation of the healthcare industry, mobile healthcare – or mHealth – refers to the use of mobile connectivity and associated technologies across the healthcare continuum. Healthcare providers and payers are increasingly embracing mHealth as a means to enhance care coordination, maximize outreach, boost patient engagement and improve outcomes, while minimizing costs.
Keen to monetize their vast wireless network assets, mobile operators view mHealth as a substantial revenue opportunity – and many are extending beyond providing pure connectivity services, towards end-to-end mHealth offerings such as remote patient monitoring.
mHealth also offers a wealth of opportunities to the pharmaceutical industry, ranging from accelerated clinical trial innovation and medication adherence monitoring to securing the supply chain and combating counterfeit drugs. In addition, with the increasing prevalence of mobile apps that provide therapeutic impact, the digital therapeutics space is beginning to emerge, which may one day rival mainstream pharmaceuticals in areas such as chronic disease care.
Other stakeholders that are set to benefit from mHealth include but are not limited to connected medical and wearable device OEMs, app developers, Big Data and analytics specialists, cloud computing giants, and even ride-hailing providers such as Uber and Lyft – whose platforms are increasingly being integrated with healthcare IT systems, letting healthcare providers improve their level of care by booking rides for their patients.
Driven by the thriving ecosystem, SNS Telecom & IT estimates that the mHealth market will account for more than $28 Billion in 2018 alone. Despite barriers relating to regulation, patient acceptance and privacy concerns, SNS Telecom & IT estimates further growth at a CAGR of approximately 30% over the next three years.
The “mHealth (Mobile Healthcare) Ecosystem: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts“ report presents an in-depth assessment of the mHealth ecosystem including market drivers, challenges, enabling technologies, applications, key trends, standardization, regulatory landscape, case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for mHealth investments from 2018 till 2030. The forecasts are segmented for 5 submarkets, 29 use case categories, 5 ecosystem player categories, 6 geographical regions and 34 countries.
The report will be of value to current and future potential investors into the mHealth ecosystem, as well as enabling technology providers, mHealth device OEMs, mobile operators, healthcare providers, pharmaceutical companies, health insurers, government healthcare institutions, application developers, software/service vendors and other ecosystem players who wish to broaden their knowledge of the ecosystem.
For further information concerning the SNS Telecom & IT publication "The mHealth (Mobile Healthcare) Ecosystem: 2018 – 2030 – Opportunities, Challenges, Strategies & Forecasts" please visit: http://www.snstelecom.com/mhealth
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About SNS Telecom & IT
Part of the SNS Worldwide group, SNS Telecom & IT is a global market intelligence and consulting firm with a primary focus on the telecommunications and information technology industries. Developed by in-house subject matter experts, our market intelligence and research reports provide unique insights on both established and emerging technologies. Our areas of coverage include but are not limited to wireless networks, 5G, LTE, SDN (Software Defined Networking), NFV (Network Functions Virtualization), IoT (Internet of Things), critical communications, big data, smart cities, smart homes, consumer electronics, wearable technologies, and vertical applications.