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mHealth Market Is Projected To Expand At A CAGR Of 25.7% By 2025

• Global mHealth market size is expected to reach USD 151.57 billion by 2025, progressing at a CAGR 25.7% over the forecast period, according to a new report by Grand View Research, Inc
• The market is majorly driven by growing geriatric population, rising prevalence of chronic diseases, and increasing penetration of smartphones and internet connections

According to a report, “ mHealth Market Analysis Report By Participants (Mobile Operators, Device Vendors, Healthcare Providers), By Service (Diagnosis, Monitoring, Healthcare Systems), And Segment Forecasts, 2018 – 2025 ”, published by Grand View Research, Inc.,The global mHealth market size is expected to reach USD 151.57 billion by 2025, progressing at a CAGR 25.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is majorly driven by growing geriatric population, rising prevalence of chronic diseases, and increasing penetration of smartphones and internet connections. Technological advancements are leading to product innovations in the area of mHealth, which in turn will bode well for the market.

Growing inclination towards preventive healthcare and subsequently rising subscription to mHealth apps have been working in favor of the market. mHealth apps exhibit several features that offer healthcare benefits to healthcare providers as well as patients. mHealth apps provide accessibility to health related information. mHealth apps also ensure continuous communication between patients and providers, thereby allowing providers to diagnose, recommend, and monitor patients without even seeing them in person.

Key players in this space include Apple Inc.; AT&T; Airstrip Technologies; Allscripts Healthcare Solutions; Google Inc; Orange; Soft Serve; mQure; and Samsung Electronics.

Adoption of smartphones with subscription to mHealth apps among adult population in the U.S. is rising in order to maintain routine check. For instance, according to a paper published in NCBI in February 2016, around 91.0% of adult population in the U.S. own a mobile phone, with 61.0% of them possessing smartphones.

Further Key Findings From the Report Suggest:

• In 2017, monitoring services held the largest revenue share owing to growing adoption of mhealth solutions for monitoring health conditions such as diabetes
• The healthcare system strengthening services segment is likely to register the highest CAGR of 27.7% over the forecast period
• Healthcare providers will be the most promising participant segment during the forecast period, mainly due to adoption of digital technology by healthcare facilities in order to optimize care management process
• In 2017, Europe accounted for the largest revenue share in the market owing to rising research initiatives in the area of mHealth

Participants Insights

The mobile operators segment dominated the mHealth market in 2017. Increasing number of partnerships of mobile network operators with mHealth service providers is one of the key factors contributing to the growth of the segment. Rising involvement of mobile operators in the healthcare sector is also supplementing the growth of the segment. According to a GSMA survey 2012, nearly 794 mobile operators were involved with mHealth in some way. This survey also showed that in 2012, there were nearly 269 mHealth services or products that were led by mobile operators.

The device vendors segment witnessed the second largest revenue share in 2017. Growing involvement of device vendors in mHealth is augmenting the . Device vendors are actively participating by providing security systems to the smartphones for reducing the incidences of data breaches pertaining to health records of the patients. This further results in growing adoption of mHealth by the general population.

Read more: http://www.digitaljournal.com/pr/4512981#ixzz65r40c8ML

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.

Congress Eyes Privacy Protections for Data on mHealth Wearables

A bill introduced this week – and another introduced this past June – aim to protect patient health data gathered on consumer-facing mHealth wearables like smartwatches, fitness bands and even apps.

• US Senators Bill Cassidy (R-LA) and Jacky Rosen (D-NV) have introduced a bill this week that aims to define how data gathered on smartwatches, fitness bands and other connected health devices – including mHealth apps – dis protected and prevent “entities that collect consumer health information” from exposing that data to other parties.

By Eric Wicklund

November 15, 2019 – Congress is jumping into the long-simmering debate over the protection of health data on consumer-facing mHealth wearables.

US Senators Bill Cassidy (R-LA) and Jacky Rosen (D-NV) have introduced a bill this week that aims to define how data gathered on smartwatches, fitness bands and other connected health devices – including mHealth apps – dis protected and prevent “entities that collect consumer health information” from exposing that data to other parties.

“The introduction of technology to our health care system in the form of apps and wearable health devices has brought up a number of important questions regarding data collection and privacy,” Rosen said in a press release announcing the bill, to be called The Stop Marketing And Revealing The Wearables And Trackers Consumer Health (SMARTWATCH) Data Act. “This commonsense, bipartisan legislation will extend existing health care privacy protections to personal health data collected by apps and wearables, preventing this data from being sold or used commercially without the consumer’s consent.” 

The bill’s introduction comes amidst a flurry of news in the consumer-facing mHealth arena, including Google’s pending purchase of Fitbit and the announcement that the tech giant will be working with Ascension – the largest non-profit health system in the US – to integrate mHealth technology and data collection into the health system’s care programs.

“The Google/Ascension news has brought needed scrutiny to the security of Americans’ health data,” Cassidy said in the press release. “The SMARTWATCH Act prevents big tech data harvesters from collecting intimate private data without patients’ consent. Americans should always know their health information is secure.”

The bill defines consumer health information as “any information about the health status, personal biometric information, or personal kinesthetic information (such as keystroke or gait patterns and sleep information) about a specific individual that is created or collected by a personal consumer device, whether detected from sensors or input manually.” This would include not only physiological, biological and behavioral data, but “deoxyribonucleic acid, imagery of the iris, retina, fingerprint, face, hand, palm, vein patterns, and voice recordings, from which an identifier template, such as a faceprint, a minutiae template, or a voiceprint, can be extracted.”

Under the bill, the organization that collects that data would be barred from transferring, selling, sharing or allowing access to that data, unless aggregated and anonymized, to “any domestic information broker or other domestic entity” whose primary function is to analyze that information for profit or whose primary purpose is to add commercial value to the entity collecting the data.

The bill goes on to direct the Health and Human Services Secretary to treat violations in the same way that it would treat HIPAA (Health and Insurance Portability and Accountability Act) violations.

The legislation mirrors a bill introduced in June by Senators Amy Klobuchar (D-MN) and Lisa Murkowski (R-AK) that aims to protect consumer health information not protected under current laws.

The Protecting Personal Health Data Act (S.1842) would require the development of regulations that strengthen privacy and security protections, including setting consent standards that address genetic, biometric and general personal health data, and give consumers the ability to access, amend and delete their data. It would also create a National Task Force on Health Data Protection that would:

• evaluate and provide input to address cybersecurity risks and privacy concerns associated with consumer products that handle personal health data, and the development of security standards for consumer devices, services, applications, and software; and
• study the long-term effectiveness of de-identification methodologies for genetic and biometric data, and advise on the creation of resources to educate consumers about direct-to-consumer genetic testing.

Source: https://mhealthintelligence.com/news/congress-eyes-privacy-protections-for-data-on-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 Solutions Market Forecasting CAGR of 34.34%

• mHealth solutions market is expected to rise from its initial estimated value of USD 28.06 billion in 2018 to a projected value of USD 297.70 billion by 2026, registering a CAGR of 34.34% in the forecast period of 2019-2026
• This rise in market value can be attributed to lower physician ratio as compared to patients requiring healthcare provisions.

Market Definition: Global mHealth Solutions Market

mHealth solutions can be defined as the technology utilized in providing healthcare services and products through smart devices and smart phones. This technology is used for collecting patient data, their patient history and also through this technology, healthcare providers can ease their workflow helping them work in a systematic and effective way.

Key Market Competitors: Global mHealth Solutions Market

Medtronic; Cerner Corporation; Koninklijke Philips N.V.; ZTE Corporation; Nokia; AirStrip Technologies; BioTelemetry, Inc.; Apple Inc.; iHealth Labs Inc.; athenahealth, Inc.; AliveCor, Inc.; Zebra Technologies Corp; Johnson & Johnson Services, Inc.; Cisco; AT&T Intellectual Property; AgaMatrix; OMRON Corporation; Withings and Qualcomm Technologies, Inc. are few of the major competitors currently working in the mHealth solutions market.

Market Drivers:

• Growth in adoption and usage of smart devices and smart phones in healthcare and medical monitoring; this factor is expected to act as a driver for the market growth
• Increasing focus on patient-focused and individual specific healthcare provisions; this factor is expected to drive the market growth

Market Restraints:

• Absence of any regulations and standardization in the market restraining the market growth
• Lack of enthusiasm in providing information regarding the identification of correct mHealth applications and solutions; this factor is expected to restrain the market growth

Key Developments in the Market:

• In January 2019, Zebra Technologies Corp announced that they are planning to launch “DS1800-HC” collection of scanners and “TC51-HC” cellular PC for healthcare professionals in India. These products will assist physicians in easing their workflow resulting in increased productivity and effectiveness.
• In March 2016, ZTE Corporation announced the launch of all-in-one mHealth product that utilizes a number of smart devices and incorporates IoT technology in identifying the diseases & disorders and providing patient specific medical care.

Global mHealth solutions market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of mHealth solutions market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Source: https://weeklyspy.com/2019/11/14/mhealth-solutions-market-forecasting-cagr-of-34-34-with-nokia-jawbone-ihealth-labs-cisco-athenahealth-alivecor-inc-omron-healthcare-inc-agamatrix/