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mHealth Market Is Generating Revenue of $10.5 billion by 2020, at CAGR 33.5% Growth Rate

• Global mHealth market was valued at $10.5 billion in 2014 and is expected to grow at a CAGR of 33.5% during 2015-2020.

Mobile health provides health service and information through mobile communication devices to address the health priorities and concerns. The advanced mobile and wireless technologies have transformed the face of healthcare services across the globe and are rendering the growth of mHealth market.

Moreover, the continued growth in coverage of mobile cellular networks, rapid advances in mobile technologies & applications, increasing lifestyle diseases and growing awareness among patient population in emerging economies, are some of the key factors fostering the growth of mHealth market. On contrary, the lower accuracy of the devices, technology’s infancy in middle and lower income economies, weak reimbursement coverage, uncertainty in government regulations in certain regions, and low adoption among ageing population is hampering the market growth to a certain extent.

The major chunk of mHealth devices market – i.e. ~71% – is collectively commanded by BP monitors, blood glucose monitors and cardiac monitors. The largest share of these monitors can be attributed to increased affordability of mobile compatible devices, integration of innovative technologies in monitoring devices and the increasing lifestyle disease such as diabetes, stroke, COPD, ischemic heart to name a few. Within mHealth services, diagnostic, monitoring and treatment services collectively hold about 74% of the market. The rapid growth of mHealth services market is attributed to rising government initiatives, increasing mHealth awareness programs in underdeveloped regions etc.

Geographically, North America and Europe constitute the two largest markets for mHealth and collectively accounted for 67% of the market revenue in 2014. They are expected to continue its hold on the global market throughout the forecast period. Early adoption of innovative technology, large patient population and high capacity to pay for services are some of the key factors responsible for the growth of mHealth market in these regions. However, the market outlook across developing economies is looking favorable and strong owing to the increasing awareness of chronic diseases, favorable government regulations and increased healthcare expenditure. Philips healthcare, Bayer Healthcare and Sanofi are some of the key companies enjoying a strong foothold in mHealth market, especially in Asian countries.

Source: https://www.openpr.com/news/1925119/mhealth-market-is-generating-revenue-of-10-5-billion-by-2020

SPONSOR: CardioComm Solutions (EKG: TSX-V) – The heartbeat of cardiovascular medicine and telemedicine. Patented systems enable medical professionals, patients, and other healthcare professionals, clinics, hospitals and call centres to access and manage patient information in a secure and reliable environment.

Scripps Researchers Use mHealth Wearables to Track Flu Outbreaks

The study used data from Fitbit users over two years to determine who was experiencing a flu-like illness. It shows that mHealth wearables could be used to identify and possibly even anticipate viral outbreaks.

• Led by digital health expert Eric Topol, MD, researchers at the Scripps Research Translational Institute used data from roughly 50,000 people wearing Fitbits between 2016 and 2018 and were able to plot outbreaks of seasonal respiratory infections like the flu.
• Researchers found they could identify and possibly even anticipate an outbreak by the activities of Fitbit users who became sick.

By Eric Wicklund

January 17, 2020 – Researchers have found a way to use mHealth wearables to tackle population health concerns.

Led by digital health expert Eric Topol, MD, researchers at the Scripps Research Translational Institute used data from roughly 50,000 people wearing Fitbits between 2016 and 2018 and were able to plot outbreaks of seasonal respiratory infections like the flu.

The first-of-its-kind study tracked sleep patterns, resting heart rate (RHR) and activity among users in Texas, California, New York, Illinois and Pennsylvania, and compared that data to influenza-like illnesses (ILIs) recorded by the US Centers for Disease Control in those states.

Researchers found they could identify and possibly even anticipate an outbreak by the activities of Fitbit users who became sick. People who develop the flu, they noted, tend to have an elevated RHR, sleep more and move around less.

“Activity and physiological trackers are increasingly used in the USA and globally to monitor individual health,” Topol and his colleagues said in a study published this week in The Lancet. “By accessing these data, it could be possible to improve real-time and geographically refined influenza surveillance. This information could be vital to enact timely outbreak response measures to prevent further transmission of influenza cases during outbreaks.”

Joining Topol in the research were Jennifer M. Radin, PhD; Nathan E. Wineinger, PhD, and Steve R. Steinhubl, MD, all of the San Diego-based organization, which has conducted dozens of mHealth and telehealth studies over the past decade.

This study, funded in part by the National Institutes of Health, aims to improve population health management for a virus that annually affects 20 percent of children and 7 percent of adults in the US, and which causes as many as 650,000 deaths worldwide. Traditional surveillance methods usually lag one to three weeks behind the outbreak, putting healthcare providers at a disadvantage in curbing the spread of the virus.

Topol and his colleagues are looking at mHealth to reduce that disadvantage and give providers and public health officials an opportunity to stop and outbreak earlier.

There are some challenges. While roughly 10 percent of the US population, according to a 2016 study, now uses wearables, that percentage has to be higher to make the results more meaningful. In addition, any connected health platform used to gather data shoud be able to draw information from a wide variety of wearables, including smart watches and smart clothing.

And finally, such a platform would need to be careful to distinguish behaviors caused by the onset of the flu with normal behaviors, and sensitive enough to detect those changes in behavior at the earliest possible moment.

“In the future, wearables could include additional sensors to prospectively track blood pressure, temperature, electrocardiogram, and cough analysis, which could be used to further characterize an individual’s baseline and identify abnormalities,” the study concluded. “Capturing physiological and behavioral data from a growing number of wearable device users globally could greatly improve timeliness and precision of public health responses and even inform individual clinical care. It could also fill major gaps in regions where influenza surveillance data are not available.”

Source: https://mhealthintelligence.com/news/scripps-researchers-use-mhealth-wearables-to-track-flu-outbreaks

SPONSOR: CardioComm Solutions (EKG: TSX-V) – The heartbeat of cardiovascular medicine and telemedicine. Patented systems enable medical professionals, patients, and other healthcare professionals, clinics, hospitals and call centres to access and manage patient information in a secure and reliable environment.

Current And Future Doctors Are More Than Ready to Use mHealth Wearables

A Stanford Medicine survey finds that doctors, residents and medical students are finding value in data drawn from mHealth wearables – and they’re using them as well. But they aren’t getting the training they need or want.

• Current and future physicians are eager to use self-reported data from patients with mHealth wearables
• In fact, they’re using wearables themselves to track health concerns.  

By Eric Wicklund

January 14, 2020 – Current and future physicians are eager to use self-reported data from patients with mHealth wearables – in fact, they’re using wearables themselves to track health concerns.

That’s one takeaway from Stanford Medicine’s 2020 Health Trends Report, which finds that physicians are ready to use mHealth and telehealth tools even if they aren’t getting the right training to use new technology. Instead, they’re looking for the help they need to apply connected health concepts to healthcare.

“We found that current and future physicians are not only open to new technologies but are actively seeking training in subjects such as data science to enhance care for their patients,” Lloyd Minor, MD, Dean of the Stanford University School of Medicine, said in a press release. “We are encouraged by these findings and the opportunity they present to improve patient outcomes. At the same time, we must be clear-eyed about the challenges that may stymie progress.”

The survey shows an eagerness among those practicing medicine (or getting ready to enter the field) to use connected health technology, including consumer-facing mHealth wearables, even as questions remain on their reliability and some payers are reluctant to cover their use.

According to the survey, which gathered the thoughts of more than 700 physicians, residents and medical students around the country, 83 percent of physicians and 79 percent of students and residents see value in self-reported data from patients using wearables. Almost 80 percent say that data holds value in clinical care management.

And they know from experience. Roughly half of those surveyed are using wearables, with 60 percent of students and residents and 71 percent of physicians saying they use digital health data to inform their own health decisions.

That said, those surveyed don’t think they’re getting the right training on how to use the technology.

Only 18 percent of students and residents said the education they’re now getting is “very helpful,” while 44 percent of physicians said their training was either “not very helpful” or “not helpful at all.” This should put pressure on teaching hospitals to improve curricula and training programs.

It’s also compelling current and future physicians to find new sources of information to prepare them for a digital health workplace – at a time when stress and burnout is high in the medical ranks.

According to the survey, 73 percent of medical students and 47 percent of physicians are seeking additional training, primarily in how to use digital health data. Roughly a third are looking for help on how to use artificial intelligence tools.

“The rise of the data-driven physician represents an opportunity to positively transform medicine and improve health outcomes by bringing new technologies and insights to the patient bedside,” Stanford Medicine officials said in the press release. “However, as it stands today, medical professionals still feel insufficiently trained to do so. Moreover, promising medical talent is being held back by challenges such as achieving work-life balance and student debt.”

Source: https://mhealthintelligence.com/news/current-and-future-doctors-are-more-than-ready-to-use-mhealth-wearables

SPONSOR: CardioComm Solutions (EKG: TSX-V) – The heartbeat of cardiovascular medicine and telemedicine. Patented systems enable medical professionals, patients, and other healthcare professionals, clinics, hospitals and call centres to access and manage patient information in a secure and reliable environment.

mHealth Market is Expected to Be the Fastest Growing By 2025

By [email protected]

• According to experts from TMR, the global mHelath market stood at US$23.9 bn in 2017.
• This revenue is expected to gain an impressive value of US$118.4bn by the end of 2025. Experts project this growth to occur with a meteoric CAGR of 22.1% during the forecast period from 2017 to 2025.

The global mHelath market bears a highly fragmented vendor landscape, says Transparency Market Research (TMR) in a recently published report. This is solely because of the existence of large, medium, and small-scale players in the market. Withings, FitBit, Apple Inc., Jawbone, and Dexcom are the dominant players working in the global mHelath market.

Out of the various strategic alliances adopted by players in the global mHelath market to hold a sizeable stakes, capitalizing on the emerging opportunities and acquiring latest technologies and tools has gained maximum popularity. The level of competition among leading vendors is getting escalated with rising use of technologies and smart devices such as wearables. The global mHelath market is expected to grow steadily due to the presence of highly established players who are concentrating on improving their product quality, facilitating product differentiation, and enhancing geographical reach. These companies are also attempting to introduce advanced and new products into the industry on a daily basis.

According to experts from TMR, the global mHelath market stood at US$23.9 bn in 2017. This revenue is expected to gain an impressive value of US$118.4bn by the end of 2025. Experts project this growth to occur with a meteoric CAGR of 22.1% during the forecast period from 2017 to 2025.

Among various products in the global mHelath market, connected medical devices hold substantial share, which is expected to boost the global mHelath market during the forecast period. This is because of rising focus towards fitness and increasing use of heart rate monitors among people.  Region wise, North America is expected to lead the global mHelath market in the coming years. This is attributed to a strong technological infrastructure along with high healthcare expenditure in the region.

Integration of Wireless Technologies to Fuel mHealth Market’s Growth

Health-related technologies and mobile applications are often known as mHealth, which helps in managing patients’ experiences. Such health mobile technologies and apps utilize advanced data analytics to help medical professionals in providing their patients best care at low cost. These health mobile applications facilitate easy and better health management through simple apps such as diet, exercise trackers, and calorie-counting. Such USPs are driving the global mHelath market. Along with this, rising penetration of internet connections and smartphones, and rapid technological advancements in healthcare industry are the factors majorly fueling growth in the global mHelath market.

Furthermore, mHelath ensures continuous communication between medical professionals and patients, thereby allow physicians to monitor, and diagnose patients without seeing them in person. Such benefits are also boosting the global mHelath market. Apart from these, rapid adoption of connected devices for monitoring various chronic diseases, and increasing demand for cost-effective medical services are also propelling expansion in the global mHelath market.

Low Physician Density May Hinder mHealth Market’s Growth

Growing reluctance of physicians to move over conventional methods, lack of regulations, concerns about data security, and low density of skilled professionals are some of the major challenges in the global mHealth market. Nonetheless, persistent demand and rising prevalence of   various lifestyle disorders is believed to help industry players overcome these challenges in the near future.

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Source: https://pronewstime.com/2020/01/08/mhealth-market-is-expected-to-be-the-fastest-growing-by-2025/