Mobile Health Market to Hit $26 Billion by 2017
The mobile health market is growing at a quick clip – and is expected to hit a value of $26 billion by 2017, according to a recently released market study from Research and Markets, Dublin.
Mobile Health Trends and Figures 2013-2017 describes the current market as being in the “commercialization” phase, a period characterized by “a massive increase of increase of offered solutions, the creation of new business models and the concentration on private, health-interested people, patients and corporations as major target groups.”
The following ten market drivers that will shape the market during the commercialization phase:
1) Smartphone user penetration will be the main driver for the mHealth uptake
2) mHealth applications will be tailored specifically for smartphones or tablets
3) mHealth applications will be native rather than web-based applications
4) mHealth niche stores will become the home of the 2nd generation of mHealth apps
5) Missing regulations are the main market barrier during the commercialization phase
6) Buyers will continue to drive the market
7) Applications will enter traditional health distribution channels
8) mHealth market will grow mainly in countries with high Smartphone penetration and health expenditures
9) 2nd generation mHealth applications will focus on chronic diseases
10) mHealth business models will broaden
In addition, the growth projections are based on the assumption that private buyers will continue to be the primary spenders in the next five years, while the integration of mHealth applications into traditional health care systems will become more common as well.