Market for Mobile Health Technology To Exceed USD 28 Billion In 2018

May 30, 2018  Source: Ddu 348

As per the surveys of market research reports recently published, the mobile health technology market is traversing a higher growth trajectory

According to an estimate by SNS Telecom & IT, the present vibrant ecosystem is bound to trigger the growth of the mHealth market at more than USD 28 billion in 2018. In spite of impediments presented by regulation, patient acceptance and privacy concerns, the sector is expected to clock a CAGR of around 30 percent over the next three years.

The growth has chiefly been driven by advances in key technologies including the miniaturization of sensors and development of 5G platforms. The effectiveness of these factors has been enhanced by the increasing number of health and fitness wearables shipped, in excess of 105 million in 2018, as per the report, has led to increased investment in analytics technology and digital health companies by more providers, pharmaceutical companies and other related stakeholders.

Players like connected medical and wearable device original equipment manufacturers, app developers, analytics specialists and unexpected entities like ride-hailing providers will be the beneficiaries of this growth. A report by Transparency Market Research anticipates a 19 percent compound annual growth in the teleradiology services market from this year till 2026.

By Ddu