Mobility in healthcare is improving the reach and accessibility of critical/expensive business and clinical systems. In the recent years, mobility has emerged as a crucial technology for the healthcare industry as it enables the medical community to adopt a patient-centric approach, minimizing healthcare costs, and the implications due to the shortage of nursing and healthcare professionals.
Statistics:
The global healthcare mobility solutions market is estimated to account for US$ 276.56 Bn in terms of value by the end of 2027.
Global Healthcare Mobility Solutions Market: Drivers
Increasing penetration of smartphones is expected to propel growth of the global healthcare mobility solutions market over the forecast period. For instance, according to Pew Research Center, as of February 2019, 81% of U.S. adults used smartphones compared to 77% in October 2018.
Moreover, advancements in wireless networks is also expected to aid in growth of the market. For instance, over 45 operators launched 5G services and more than 40 OEMs are introducing devices in the beginning of 2020.
Statistics:
North America held dominant position in the global healthcare mobility solutions market in 2019, accounting for 42.5% share in terms of value, followed by Europe and Asia Pacfic, respectively.
Figure 1: Global Healthcare Mobility Solutions Market Share (%) Value, By Region, 2019
Global Healthcare Mobility Solutions Market: Restraints
Privacy and security concerns are expected to hinder growth of the market. Ensuring data privacy and security is one of the major challenges faced by healthcare mobility solution providers. Security and privacy risks are a huge concern due to growing practices including unauthorized access, identity theft, data hacking, and patient data alteration/modification.
Moreover, limited data integration ability is also expected to limit the market growth. Although clinical professionals and consumers across the globe are preferring mobile devices and healthcare apps to track and manage healthcare outcomes, the limited ability of mHealth applications to both share and access information is posing a slight challenge to the swift growth of this market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 57.1 Bn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 21.1% | 2027 Value Projection: | US$ 276.6 Mn |
| Geographies covered: |
|
||
| Segments covered: |
|
||
| Companies covered: |
AirStrip Technologies, Inc., AT & T, Inc., Cerner Corporation, McKesson Corporation, Koninklijke Philips N.V, Cisco Systems, Inc., Oracle Corporation, SAP SE, Omron Corporation, Zebra Technologies Corporation. |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
Global Healthcare Mobility Solutions Market: Opportunities
Development of novel healthcare mobility systems that can support a larger volume and variety of connected devices is expected to offer lucrative growth opportunities for players in the global healthcare mobility solutions market.
Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
Statistics:
The global healthcare mobility solutions market was valued at US$ 57.1 Bn in 2019 and is forecast to reach a value of US$ 276.6 Bn by 2027 at a CAGR of 21.1% between 2020 and 2027.
Figure 2: Global Healthcare Mobility Solutions Market Value (US$ Bn), 2016 – 2027
Market Trends/Key Takeaways
Major players in the market are focused on adopting partnership strategies to enhance their market share. For instance, in October 2019, Cerner Corporation signed a definitive agreement to acquire AbleVets, a strategic IT consulting and engineering firm.
The market is witnessing launch of solutions in line with Covid-19 pandemic. For instance, June 2020, Fitbit launched a new Ready for Work solution that gives employees access to key health metrics from their Fitbit device along with exposure, symptom and temperature logging, to help employers with the unprecedented challenge of returning to the workplace during the COVID-19 pandemic.
Global Healthcare Mobility Solutions Market: Competitive Landscape
Major players operating in the global healthcare mobility solutions market include, AirStrip Technologies, Inc., AT & T, Inc., Cerner Corporation, McKesson Corporation, Koninklijke Philips N.V, Cisco Systems, Inc., Oracle Corporation, SAP SE, Omron Corporation, Zebra Technologies Corporation.
Global Healthcare Mobility Solutions Market: Key Developments
Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in May 2020, Cisco announced its intent to acquire privately held ThousandEyes, Inc., a provider of internet and cloud intelligence platform headquartered in San Francisco, U.S.
Healthcare Mobility Solutions bridge the gap between the patient and the doctor and helps in disease diagnosis, monitoring, and treatment. Mobility solutions also provide medical community to adopt patient-centric approach, minimizing healthcare costs, and the implications due to the shortage of nursing and healthcare professionals. Factors, such as advancements in wireless networks, and development of novel healthcare mobility systems is expected to assist the growth of the market during the forecasted period. Moreover, major players in the market are focused on adopting M&A strategies to expand their product portfolio which in turn is expected to propel the market growth
Key features of the study:
Detailed Segmentation:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients