The Global “mHealth” Market is likely to expand at an impressive CAGR, finds Fortune Business Insights in a report, titled “mHealth Market: Global Market Analysis, Insights and Forecast, 2018-2025.” Growth witnessed in the market backed by increasing adoption of wearable devices for health monitoring. In addition to this, increased availability of mobile apps manufactured by leading companies will enable fuel the demand for mHealth solutions in the forecast period.
The increase in the number of mobile phone users, worldwide, is favoring the growth of the global market. mHealth applications enable access to health information with the option of avoiding hospital visits. Furthermore, ease in availability of network providers is one of the factors favoring the global mHealth market. The rising uptake of mHealth services among the elderly population is a major factor driving the global market.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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Some of the Main Key Players Covered in the mHealth Market Report
- Bayer Pharmaceuticals
- AliveCor, Inc.
- BioTelemetry Inc.
- LifeWatch Services, Inc.
- Omron Healthcare, Inc.
- Qualcomm Technologies
- Cerner Corporation
Increasing Adoption of Smartphone Services among Global Population to Enable Growth
The adoption of a fast-paced lifestyle among people around the world has fuelled the demand for convenient yet high-performing mobile applications. The advent of cloud-based services within mobile apps is favoring the expansion of the Global mHealth Market. Cloud-based services fulfill the need for excess storage that is required when availing mHealth solutions. According to Statista, in 2016, around 2.1 billion people around the world owned smartphones.