APAC mHealth Market Report 2020 : Value to Hit $14.4 Billion, says AMR Research
Asia Pacific mHealth market projects a remarkable growth rate, supplemented with the growing awareness of mHealth devices and services that aid in improve the quality of life for patients stricken with lifestyle diseases. The growing prevalence of lifestyle diseases such as diabetes, obesity, hypertension, chronic obstructive pulmonary disease (COPD) and obstructive sleep apnea (OSA), in Asia Pacific region, creates an impending need of technologically advanced platforms for the prevention and treatment of these diseases.
Asia Pacific mHealth market is estimated to register a high CAGR of 35.8% during the forecast period of 2015-2020, according to a new report published by Allied Market Research. In 2014, blood pressure monitors, blood glucose monitors and cardiac monitors collectively accounted over two-thirds share in the Asia-Pacific mHealth device marketand would continue to dominate throughout the forecast period. China was the largest country market in the Asia Pacific region and is expected to maintain its dominant position during the forecast period. Factors such as growing population, rising disposable incomes and a large presence of local manufacturers would boost the market growth.
Mobile health (mHealth) is an area of electronic health (eHealth) that offers revolutionized healthcare services through uniquesmartphone based technologies that enable the remote monitoring of patients. Increasing adoption of smartphones, growing awareness of newer technologies and increasing consumer preferences towards healthy lifestyles are prime factors that supplement the adoption of mHealth devices. Moreover, the continued growth in coverage of mobile cellular networks and increasing count of lifestyle diseases such as diabetes, obesity, including others would further drive the growth of the Asia Pacific mHealth market. However, lower accuracy, weak reimbursement coverage and low adoption of devices among aging population are factors that could hinder the market growth.
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In the Asia-Pacific mHealth services market, monitoring was the largest revenue generating segment, accounting for about half of the mHealth services market share in 2014. Key factors responsible for the growth of Asia Pacific mHealth services market include increasing government initiatives, growing awareness among patient population among others.
Key finding ofAsia Pacific mHealth market:
- In 2014, mobile operators segment held a dominant shareinthe Asia Pacific mHealth market by stakeholders.
- Blood glucose meters segment is projected to register the fastest growth rate in the Asia Pacific mHealth devices market, registering a CAGR of 44.4% during the forecast period.mhealth market.
- Among all geographies, India is projected as one of the most lucrative markets, registering a CAGR of 42.6%
- In 2014, Cardiovascular application segment held leading position in the overall
In the Asia-pacific mHealth market, China and Japan collectively accounted for 2/3rd of the market revenue in 2014 and would continue to consolidate their market position over the forecast period. Furthermore,launch of innovative products and services largely contributes to the market growth in these countries. Key players profiled in this report include – Philips healthcare, Omron HealthCare Inc., Bayer Healthcare, LifeWatch, Masimo Corporation, Sanofi, Boston Scientific, AT&T Inc., and Johnson & Johnson.
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