Healthcare Mobility Solutions Market to Register 25.5% CAGR; Increased Adoption of Technology in Healthcare Settings to Drive Market, Says TMR

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Transparency Market Research

15 Nov, 2018, 11:30 GMT

ALBANY, New York, November 15, 2018 /PRNewswire/ --

According to the report, the global healthcare mobility solutions market will expand at an exceptional 25.5% CAGR between 2015 and 2023. As a result, the market, which had a valuation of US$20.13 bn in 2014, is projected to rise to a valuation of US$148.66 bn by 2023. In terms of the key applications of healthcare mobility solutions, the mHealth segment is likely to account for the dominant share in the market over the forecast period, registering an impressive 25.2% from 2015 to 2023. From a geographical standpoint, North America is the current leader of the market, holding nearly 53% of the overall market, followed by Europe and Asia Pacific.

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Shift from Manual to Digital Data Storage and Transfer Systems Drive Market 

One of the leading factor to have favored the steady expansion of the global healthcare mobility solutions is the shift from manual data recording and management to electronically stored data and instant forms of data transfer. Much of the healthcare data earlier conveyed through papers has now been turned into electronic records, including test results, healthcare records, consultation notes, and diagnoses history. This has significantly increased the speed and efficiency of diagnosis and treatment, ultimately leveraging patient satisfaction. With the evolution of electronic communication, mobile devices such as smartphones and tablets are becoming the preferred tools for patients and healthcare providers as well for convenient communication, irrespective of the time and place.

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Omnipresent Mobile Devices and High-speed Internet to Drive Market 

This has been compounded by the omnipresence of mobile devices and high-speed internet across the globe. It has been observed that a lion's share of the overall number of healthcare providers across the globe, including doctors, nurses, and other resources involved, have been using mobile computing devices such as tablets and smartphones in healthcare settings for several years now. Moreover, the number of people to have downloaded and uses mobile healthcare apps for personal use has also massively increased globally.

The number of healthcare mobile apps available in the market has also consistently increased over the years. Thus the high rate of adoption of mobile devices in healthcare facilities, the unprecedented pace at which technological advancements are taking place in the field of mobile connectivity, and the improved network of high-speed Internet across the globe are likely to remain the key factors propelling the healthcare mobility solutions market in the next few years as well.

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The presence of a large number of large-, medium-, and small-scale companies has rendered the vendor landscape of the global healthcare mobility solutions market highly competitive, observes TMR in a recent report. Companies are seen focusing more on bringing in more easy-to-use products, apps, and economical services in the market to cater to a larger set of consumers across emerging markets. Reactiveness towards collaboration opportunities has also increased as companies realize the benefits of a larger exposure to newer geographies and an enhanced product and services portfolio. Case in point is the collaboration between Truman Medical Centers and Cerner Corporation.

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Some of the leading companies in the market are McKesson Corporation, Koninklijke Philips N.V., Oracle Corporation, AT&T, Inc, and Cisco Systems.

This analysis of the global healthcare mobility market is based on a recent market research report by Transparency Market Research, titled "Healthcare Mobility Solutions Market (Product and Services - Mobile Devices, Mobile Applications, and Enterprise Mobility Platforms; Applications - Enterprise Solutions and mHealth Applications; End-Users - Payers, Providers, and Patients (Individuals)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023."

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