mHealth Monitoring and Diagnostic Medical Devices Market to Exhibit Explosive 43.30% CAGR from 2013 to 2019
mHealth monitoring and diagnostic medical devices are used to deliver healthcare facilities with the help of communication devices, including tablet computers, mobile phones, and PDAs. The global market for mHealth monitoring and diagnostic medical devices is an emerging market and the demand has been growing at a fast pace due to the rising prevalence of chronic diseases.
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The global market for mHealth monitoring and diagnostic medical devices has been segmented on the basis of product type into sleep apnea monitors, blood pressure monitors, multi-parameter monitors, pulse oximeters, cardiac monitors, glucose monitors, and others. Among these, the glucose monitors segment is projected to exhibit an explosive 49.40% CAGR between 2013 and 2019. The increasing incidence of diabetes across the globe, along with the increasing demand for minimally invasive glucose monitoring devices, is estimated to fuel the growth of the glucose monitors segment in the next few years.
Moreover, the tremendous rise in the number of smartphones and innovations in mHealth devices due to technological advancements are other factors that are driving the overall market. Furthermore, the multi-parameter monitors segment is anticipated to witness rapid growth owing to rising awareness regarding healthy lifestyles and fitness in several developed economies.
The global market for mHealth monitoring and diagnostic medical devices has been divided on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. Currently, the North America market accounts for the largest share in the overall market, thanks to the presence of several manufacturers in the region, the growing population owning a smart consumer electronic device such as tablets or smartphones, technological developments, and rising awareness regarding new technology and devices.
On the other hand, the Asia Pacific market for mHealth monitoring and diagnostic medical devices is considered as one of the most favorable markets throughout the forecast period. This region is estimated to register a high growth rate, owing to the increasing geriatric population, growing prevalence of chronic diseases, rising awareness regarding the benefits of diagnostic devices, and increasing demand for home care monitoring devices. In addition, the growing use of smartphones in several countries such as Singapore, India, China, Australia, New Zealand, and Japan is further driving the global market for mHealth monitoring and diagnostic medical devices.
Furthermore, the study talks about the competitive landscape of the market, including detailed profiles of the major players. Some of the prominent players operating in the global market for mHealth monitoring and diagnostic medical devices are BioTelemetry Inc., F. Hoffmann La-Roche Ltd., AT&T, Inc., Johnson & Johnson, DexCom, Inc., Bayer HealthCare AG, Medtronic Inc., Boston Scientific Corporation, Masimo Corporation, Omron Healthcare, LifeWatch AG, and Dräger AG.
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