Home Press Releases mHealth Monitoring and Diagnostic Medical Devices Market to Grow at a CAGR of 43.3% due to Increasing Use of Smartphones
mHealth Monitoring and Diagnostic Medical Devices Market to Grow at a CAGR of 43.3% due to Increasing Use of Smartphones
Posted on Jun 9, 2014
A new report published by Transparency Market Research (TMR) “mHealth Monitoring And Diagnostic Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019”. According to the report, the global mHealth monitoring and diagnostic medical devices market was valued at US$0.65billion in 2012 and is expected to reach US$8.03billion in 2019, growing at a CAGR of 43.3% from 2013 to 2019.
mHealth refers to mobile health, a system that aims at delivering medical help through communication devices such as tablets, mobile phones, computers, and PDAs. The global mHealth monitoring and diagnostic medical devices market is growing at a rapid pace due to the growing prevalence of these devices in day-to-day lives, increasing incidences of chronic diseases, and a rising geriatric population pool. The global mHealth monitoring and diagnostic medical devices market has drastically reduced medical expenses, as they help in monitoring vital parameters for those suffering from diabetes and blood pressure. Additionally, these devices also help monitor heart rate, respiratory rate, and other body monitoring parameters. The Center for Technology and Aging reported that the global mHealth monitoring and diagnostic medical devices market could help reduce healthcare expenditure in the U.S. by US$200 billion in the coming 25 years.
The global mHealth monitoring and diagnostic medical devices market is segmented on the basis of products and geography. The product segmentation includes glucose monitors, cardiac monitors, blood pressure monitors, sleep apnea monitors, pulse oximeters, multi-parameter monitors, and others. Geographically, the global mHealth monitoring and diagnostic medical devices market is segmented into the following regions: North America, Asia Pacific, Europe, and Rest of the World (RoW).
The glucose monitors segment is expected to have the fastest growth rate from 2013 to 2019, growing at a CAGR of 49.4%. The International Diabetes Federation (IDF) stated that there are 392 million diabetics in the world in 2013, and the number is expected to grow to 592 million by 2035. Owing to these reasons the glucose monitor segment in the global mHealth monitoring and diagnostic medical devices market is expected to grow at a rapid pace, as it offers a minimally invasive glucose monitoring system to manage the condition. Growing usage of smartphones, innovations in mobile health devices, and technological advancement are some of the crucial factors that will contribute to the growth of the global mHealth monitoring and diagnostic medical devices market. The multi-parameter monitoring devices segment is also likely to grow significantly in the coming future due to growing awareness about health and fitness especially in the developed countries.
Browse the full mHealth Monitoring And Diagnostic Medical Devices Market (Focus On Medical Devices With In-Built Plug-Ins For Connectivity With Devices Like Smartphones And Tablets) Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/mhealth-monitoring-diagnostic-medical-devices.html
Some of the key players in the global mHealth monitoring and diagnostic medical devices market include Masimo Corporation, AT&T, Inc., BioTelemetry Inc. (CardioNet, Inc.), Bayer HealthCare AG, Boston Scientific Corporation, Dräger AG, DexCom, Inc., F. Hoffmann La-Roche Ltd., Johnson & Johnson, LifeWatch AG, Medtronic Inc., and Omron Healthcare.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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