Modern mobile networks are allowing healthcare professionals to diagnose, monitor, and communicate with patients with unprecedented speed and efficacy.
The emergence of low-cost smartphones has allowed wider access to mHealth apps, which range between freemium apps geared around diet and daily fitness routines, scaling up to costly premium apps with elaborate clinical reference points, images, diagnostic, and monitoring functions.
Austerity measures have forced many health departments around the globe to rein in their spending and find more cost-effective ways of operating.Austerity measures have forced many health departments around the globe to rein in their spending and find more cost-effective ways of operating. mHealth comes to the rescue, and will pay dividends not only to software makers, but also to network operators and data platform management providers who may transfer their core competencies onto the medical field. According to Visiongain, the mHealth market will reach a $6.7 billion value by the end of 2014.
Wearables dominated this year’s CES, with many major OEMs moving into their second and third generation efforts. The speed at which late model smart watches and smart bracelets are being upgraded threatens to outpace established smartphone and tablet markets. As these older device markets enter a maturity stage, wearable smart devices will be poised to fill revenue gaps for incumbent vendors.
The strongest drivers of the mHealth market are its reach and scope. Comprising telemedicine devices, fitness and lifestyle, remote diagnostic and monitoring tools, communications platforms, and e-Patient care, mHealth has an incredible range of applications and target markets.
Visiongain forecasts the mHealth market to experience significant growth during the coming years, as we experience a renaissance in doctor/patient communication, treatment methods, and the general approach to healthcare. Additional details are available from the research firm’s report, titled “The Mobile Health (mHealth) Market Forecast 2014-2024: A Revolution in eHealth, Telemedicine, Informatics, & Connected Health.”