the “global mHealth market is expected to reach USD 10.2 billion by 2018 from USD 1.3 billion in 2012 at a CAGR of 41.5% from 2012 to 2018.” If they are correct, growth in this market will be strong for at least the next five years.
The report also states that “The most impactful trend witnessed in the mHealth market is the growth in remote patient monitoring. Remote monitoring of patients can help reduce costs significantly by reducing the amount of time the patient spends in hospitals and also by lowering the frequency of follow-up visits to the physician. In addition, quick service and ease of use functionalities, and rising healthcare expenditure are supporting faster adoption of mHealth applications. Moreover, increasing demand for independent aging solutions and post-acute care services are also aiding the mHealth market growth.”
Any market with $10 billion potential is worth watching but this market has more than a financial appeal tied to it. The mHealth market represents a most important way to deal with health issues and makes mobile technology highly strategic to our overall well-being too.