Healthcare Mobility Solutions Market is anticipated to have a prodigious CAGR of 21.9 % during the period of 2022-2032
NEW YORK, April 12, 2022 /PRNewswire/ -- As per a study by Persistence Market Research, from $3.4 billion in 2022 to $7.4 billion in 2032, the global healthcare mobility solutions market is predicted to grow at an 8.1% CAGR from 2022 to 2032.
The healthcare industry has been witnessing significant change as it has become one of the early users of advanced mobile technology in its goods and services. With the aid of fast awareness of the benefits provided by the mobile-enabled application, healthcare professionals have surmounted the majority of the problems they have experienced.
In the past, the healthcare business faced several obstacles such as distant region locations, skyrocketing overhead costs, and complex regulatory requirements, all of which had a significant impact on their total services. To become one of the economy's foundations, the healthcare industry has to overcome these hurdles.
Rising uses of technologically enhanced personal health devices, as well as a rise in smartphone and internet penetration from 53% to 93% in the United States, are important contributing reasons to the expansion of healthcare mobility solutions.
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Digitalization and the increased usage of smart devices are having a favourable impact on the healthcare mobility solutions market.
Other factors driving the growth of the healthcare mobility solutions market include the increased influence of social media on healthcare, increased population awareness of the potential benefits of healthcare management, increased need for point-of-care diagnosis and treatment, increased focus on personalized medicine, and patient-centred approach. However, data security issues and a shortage of experienced personnel are two more obstacles that may stymie healthcare mobility solutions market expansion.
Patient care management is expected to grow at a rapid pace throughout the projected period, owing to increased patient concerns and the desire for continuous monitoring.
Reduced healthcare costs reduce the burden on healthcare payers and providers, the rising geriatric population and chronic disease burden, implementation of initiatives to shift the burden of risk from healthcare payers to providers, and government initiatives to promote patient-centric care are all major driving factors for the patient care management segment.
Utilization management, case management, illness management, absence management, nursing, and advocacy services are all part of patient care management.
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As a result of increased knowledge and penetration of mHealth applications, patients are expected to use healthcare mobility solutions on a big scale in the future years.
Healthcare providers dominated the healthcare mobility solutions market due to the substantial use of business mobility solutions in hospitals for electronic health record maintenance, managing, treating, and assessing patients' health online, and offering medical education. One of the primary contributors to sector development is the growing influence of social media.
Social media has become a vital aspect of everyday life, evolving from a tool for posting private status updates to a forum for serious debate and a commercial platform. Despite the fact that the healthcare sector is constrained by regulatory standards, the usability of social media is having a significant influence on the current health industry.
North America has the biggest healthcare mobility solutions market share, which may be due to a greater number of smartphone users and increasing use of online services, both of which are expected to boost healthcare mobility solutions market growth throughout the projection period.
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With the introduction of mHealth and its apps that assist individuals in active personal health management, healthcare in the North American area is witnessing good changes.
The Asia Pacific region's healthcare mobility solutions market is also being pushed by an increase in the number of healthcare systems such as hospitals, clinics, nursing homes, and other ambulatory care settings, as well as the increased incidence of chronic illnesses and disorders that necessitate continuous patient monitoring.
Key Takeaways:
- The financial analytics from the healthcare mobility solutions market is expected to grow at the fastest CAGR of 11.5% during the forecast period in the function sector.
- On-premise deployments are expected to grow at a high rate in the deployment sector of the healthcare mobility solutions market, with a CAGR of 7.9% during the forecast period.
- China's healthcare mobility solutions market is expected to be worth US$ 564.2 million by 2032, with a CAGR of 8.8% over the forecast period.
- The market size for healthcare mobility solutions in the United States is expected to reach $2.1 billion by 2032, growing at a CAGR of 7.2% during the research period.
- Brazil is expected to reach a market size of US$ 33.1 million in the healthcare mobility solutions market by 2032, with a CAGR of 7.2% during the research period.
- Japan is expected to have a market size for healthcare mobility solutions of US$ 230.3 million by 2032, with a CAGR of 7.9% during the research period.
- By 2032, India is expected to reach a market size of US$ 684 million in the healthcare mobility solutions market, with a CAGR of 12.8% during the research period.
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Competitive Landscape:
The global market for healthcare mobility solutions is extremely fragmented, with many major and small enterprises operating at the regional and country levels. Prominent players in the healthcare mobility solutions market are Information Builders, IBM Corporation, Microsoft Corporation, Oracle Corporation, and OpenText Corporation.
- Fitbit Inc. released a new ready-for-work solution in June 2020 to provide employees with access to vital health information from their Fitbit devices. It offers symptom exposure as well as temperature logging.
- ThousandEyes, Inc. was bought by Cisco System Inc. in May 2020. ThousandEyes Inc., based in San Francisco, California, is a supplier of internet and cloud information.
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