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Mhealth Market Value to Reach USD 152.2 Billion by 2026

• Global mHealth market is expected to rise at an impressive 26.1% CAGR between 2018 and 2026

LOS ANGELES, Nov. 7, 2019 — With digitization successfully penetrating in the healthcare sector, the global mHealth market is expected to rise at an impressive 26.1% CAGR between 2018 and 2026, finds Acumen Research and Consulting in a report, titled “mHealth Market (By Services – Connected Sensors [Inhaler Sensors, Injection Sensors], Integrated Connected Devices [ Integrated Inhaler, Integrated Injection];By Technology – Bluetooth, NFC, Other Technologies (Cellular, Low Power Wide Area Network); By Participants – Healthcare Providers, Homecare Centers) – Global Industry Size, Share, Trends and Forecast 2018 – 2026”.

Rising Demand for Digital Health Technologies to Boost Growth

It is important to note that mHealth is one of the most widely adopted digital health technologies across the world. In fact the market is predicted to exhibit a double-digit growth during the course of the report’s forecast period. Factors such as the rising internet penetration and increasing incidence of chronic ailments such as diabetes and cardiovascular diseases will support the mHealth market growth in the coming years. Considering this, the rising demand for smartphones and improving accessibility to digital technologies will prove a boon to the market.

As per the statistics published in one of the recent studies conducted by GSM Association, the number of users connected via mobile services surpassed five billion in 2017. Furthermore, the pool of unique mobile subscribers is likely to exponentially rise, reaching 5.9 billion by the end of 2025. This coupled with funding towards mHealth start-ups and skyrocketing demand for preventive healthcare will boost the market in the near future.

Government Support Expected to Encourage Growth in Coming Years

In addition to the penetration of digital technologies, government support to encourage digitization in healthcare sector will bode well for the overall market. Besides this, economic factors such as the rising geriatric population, increasing prevalence of chronic ailments, and increasing willingness to spend on advanced healthcare will boost the global mHealth market in the coming years.

In order to provide in-depth study, the report segments the global market in terms of three main parameters. These include region, service, and participants. In terms of service, the global mHealth market can be segmented into diagnosis services, monitoring services, services to strengthen healthcare systems and others. The monitoring services segment can be further classified into chronic disease management, independent aging solutions, and post-acute care services. The report offers detailed information on the drivers and restraints impacting the growth of this market across each of the aforementioned segments.

Growth in Europe Likely to Be Supported by High Adoption of Latest Technologies

In terms of participant, the mHealth market can be segmented into content players, mobile operators, device vendors, and healthcare providers. Regionally, the global mHealth market can be segmented into Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. According to the report, in 2018 Europe held the largest portion of the overall mHealth market share in terms of revenue. It is also expected to remain dominant over the course of the forecast period. The region shows a high adoption of latest technologies in healthcare. This coupled with the rising per capital healthcare expenditure, rising incidence of chronic ailments, and the increasing geriatric population will support the mHealth market growth in the region.

Read full report here: https://www.benzinga.com/pressreleases/19/11/n14758299/mhealth-market-value-to-reach-usd-152-2-billion-by-2026

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.

Global Digital Health Market Is Expected to Post a CAGR Close to 22% During the Period 2019-2023

The global digital health market is expected to post a CAGR close to 22% during the period 2019-2023, according to the latest market research report by Technavio.

• mHealth technologies are gaining significant prominence in the digital health market as these are used for chronic disease management, disease surveillance, and treatment support.
• Healthcare professionals are finding it easier to access patient information and diagnose diseases by using mHealth technology driven apps on smartphones

In addition, with the rise in adoption of smartphones and increase in penetration of the Internet, there has been a considerable growth in the use of mHealth technologies. Healthcare professionals are finding it easier to access patient information and diagnose diseases by using mHealth technology driven apps on smartphones. These apps also help the users in tracking personal health data including allergies and medications. Furthermore, mHealth services also enable the dissemination of essential medical information among healthcare professionals. This is expected to further drive the digital health market in the forthcoming years.

Source:https://finance.yahoo.com/news/global-digital-health-market-2019-200000445.html

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.

How Digital is Accelerating Healthcare

• A digital wave has swept the world. Technology advancements have transformed every aspect of life and healthcare isn’t far behind.
• Digital healthcare aims to amplify the shortcomings of traditional healthcare systems.

The digitization of the entire healthcare ecosystem is underway. From telemedicine to wearables to the remote patient monitoring device, Integration of technology with healthcare helps in meeting the unfulfilled challenges in the healthcare industry.

Digital healthcare aims to amplify the shortcomings of traditional healthcare systems. Prevention, helping patients monitor and manage chronic conditions, lowering the cost of healthcare provision, and making medicine more tailored to individual needs – some of the areas where applying technology to healthcare can immensely help.

Healthtech or Digital Health is a thriving market. Global Digital Health Market value expected to surpass $504.4 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing demand for remote monitoring services due to rising incidences of chronic diseases worldwide is a major factor propelling the global market growth. This could be the reason why Tech giants are betting big on healthcare with almost all the big firms be it Google or Amazon are investing billions in healthcare. The most valuable company in the world – Apple updated its Health app, last year, to display medical records from 39 hospitals.  The firm also added a new Apple Watch feature called the electrocardiogram (EKG), a more advanced method of heart monitoring. Apple received an FDA clearance for this.

 Alphabet, Google’s parent company is also making a number of bets in healthcare and life sciences. Calico, focuses on health and well-being, in particular, the challenge of ageing and associated diseases. And Verily is developing tools to collect and organize health data, then creating interventions and platforms that put insights derived from that health data to use for more holistic care management. 

 WHO’s push for Digital Health

In the April 2019, the World Health Organization (WHO) released new recommendations on 10 ways countries can use digital health technology to improve people’s health and essential services. The guideline demonstrates that health systems need to respond to the increased visibility and availability of information. People also must be assured that their own data is safe and that they are not being put at risk because they have accessed information on sensitive health topics, such as sexual and reproductive health issues, a press release from the WHO states. It further adds that Health workers need adequate training to boost their motivation to transition to this new way of working and need to use technology easily.

The guideline stresses the importance of providing supportive environments for training, dealing with unstable infrastructure, as well as policies to protect the privacy of individuals, and governance and coordination to ensure these tools are not fragmented across the health system.

The guideline encourages policy-makers to review and adapt to these conditions if they want digital tools to drive tangible changes and provides guidance on taking privacy considerations on access to patient data.

WHO has issued a number of resources to strengthen digital health research and implementation, including the mHealth Assessment and Planning for Scale (MAPS) toolkit, a handbook for Monitoring and Evaluation of Digital Health, and mechanisms toharness digital health to end TB, eHealth Strategy Toolkit in collaboration with International Telecommunications Union (ITU) and the Digital Health Atlas, an online global repository where implementers can register their digital health activities

Digital Health in Asia

Digital Health is thriving in Asia. Last year, Investment in digital health was around $6.3 billion in Asia, confirming it as the 2nd largest HealthTech ecosystem in the world. Significantly exceeding 2017 in dollar size, and doubling 2016, the Asia ecosystem is fast catching the US, says a report by HealthTech Alpha, a Galen Growth Asia solution. The most number of news new announcements and investments came from China and India.

Some other important initiatives include:

• Big technology companies, such as Tencent and Alibaba, announced new healthcare ventures
• In collaboration with the Food and Drug Administration of the Philippines (FDA), mClinica introduced a new mobile app, Electronic Logbook, to digitize prescriptions using cutting edge image recognition and machine learning. With this, the Philippines became the first country in Asia to use a nationwide mobile app to disrupt the pharmacy prescription process
• WeDoctor and Ping An Good Doctor – the “AI doctors” are increasingly becoming popular in China
• BioTel CareTM(formally known as Telcare), a BioTelemetry company, has developed a next-generation wireless blood glucose monitor for diabetes management. It is the first FDA-cleared, cellular-enabled glucometer which supports real-time transmission and consolidation of patient data in an FDA-cleared cloud
• Japan-based Omron Healthcare has developed a continuous, noninvasive Beat By Beat®blood pressure monitoring technology. Omron says this is the first of its kind in the world, uses Omron’s proprietary pressure sensor to apply pressure in a way to partially flatten the radial artery, thus enabling measurement of blood pressure for each heartbeat simply by attaching the monitor unit on the wrist

Health tech is an unprecedented opportunity to solve Asia’s healthcare woes. New technologies like Artificial Intelligence (AI), cognitive computing, natural language processing, wearable technology, virtual reality and augmented reality are providing new opportunities to provide more personalized prevention, diagnostic, and treatment.

As digital health improves, it will, in turn, strengthen health systems, enable universal health coverage, and improve health and well-being for all.

Source: https://www.biospectrumasia.com/analysis/46/14108/how-digital-is-accelerating-healthcare.html

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.

The use of mobile devices in healthcare

• The past decade has seen mobile devices become ubiquitous across a range of professions, and the world of medicine is no exception to this.
• In fact, the emergence of Mobile Health (usually shortened to mHealth) technology has enabled medical professionals around the world to deliver a better standard of care to their patients.

What is mHealth?

The World Health Organisation (WHO) defines mHealth as “medical and public health practice supported by mobile devices, such as mobile phones, patient monitoring devices, personal digital assistances and other wireless devices.” This technology leverages many smartphone functionalities such as SMS messaging, applications, web browsing, and Bluetooth connectivity to deliver a diverse range of services. 

The Rapid Rise of mHealth Technologies

The mHealth industry has shown impressive growth over the past few years. Constant innovation and increasing global connectivity have contributed to the widespread adaptation of this technology among medical professionals and patients alike. In fact, experts predict that this market will reach a global value of $60 billion by the year 2020.

How Are Healthcare Professionals Using Mobile Technology?

80% of healthcare professionals say that they employ mobile devices daily as part of their work and 93% of these state that access to health apps allows them to provide a better quality of care to their patients. There are many ways that this technology could be used as part of healthcare delivery; some examples of tasks that can be aided by mHealth tech include patient monitoring, clinical decision-making, and training.

Source: https://azbigmedia.com/business/mobile/the-use-of-mobile-devices-in-healthcare/