The Asia-Pacific mobile health market is expected to register a positive CAGR during 2018-2023 (the forecast period). The market is developing and is projected to account for significant revenues in the future, owing to the rising awareness among people and favorable regulatory regulations specific to the quality and feasibility of the mobile-based medical devices.
Increased Use of Smartphones and Tablets
From tablets to wearables, the use of mobile devices has been increasing in the market, moreover, healthcare providers are no exception. It has been observed that approximately 80% of physicians use smartphones. The use of mobile devices by healthcare professionals has transformed many aspects of clinical practices. It has led to a rapid growth in the development of medical software applications (apps) for these platforms. Mobile devices and apps provide many benefits for healthcare professionals, most significantly, the increased access to point-of-care tools, shown to support better clinical decision-making and improved patient outcomes. In 2014, it was estimated that around 60% of smartphone owners had used their mobile phones to look up for information about a health condition. Currently, mobile applications are being developed adhering to HIPAA-compliances. Apps developed adhering to HIPAA-compliances make private practices, hospitals, and other healthcare systems implement mobile devices without any major regulatory complications. Hence, the rise in mobile and tablet usage is driving the Asia-Pacific mobile health market.
Moreover, factors, such as rise in awareness among the population about the potential benefits of healthcare management, increased need for point-of-care diagnosis and treatment, and focus on personalized medicine and patient-centered approach, are driving the growth of the Asia-Pacific mobile health market.
Data Security Issues
Rapid technological advancements in mHealth research generate, both, opportunities and challenges, including creating scalable systems capable of collecting unprecedented amounts of data and conducting interventions, while protecting the privacy and safety of research participants. In 2015, most top data breaches involved cybersecurity threats from third parties. The Health Insurance Portability and Accountability Act of 1996 (HIPAA) compliance is still a key issue when it comes to mobile device security. Until security and privacy are assured, the use of apps by physicians continues to be limited, thereby, hindering the market growth. Additionally, the stringent regulatory policies for mobile health applications are expected to restrain the market growth.
Asia-Pacific expected to Grow at a greater Rate than Other Regions
Asia-Pacific is expected to witness the highest growth rate during the forecast period, due to the rising awareness of diseases among the people and high market penetration of mobile platforms in the region. In Asia-Pacific, countries, like China and Japan, have been identified as potential emerging markets, due to high R&D investments.
Key Developments in the Market:
- June 2017 – Johnson & Johnson acquired Actelion.
Major Players: Apple, Vodafone, Qualcomm Life, Cardionet, Inc., Medtronic, Inc., Philips Healthcare, and Samsung Electronics Co. Ltd, among others.
Reasons to Purchase this Report
- Current and future Asia-pacific mobile health market outlook in the developed and emerging markets
- Various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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1.1 Market Definition
2. Research Methodology
3. Executive Summary
4. Key Inferences
5. Market Overview
5.1 Current Market Scenario
5.2 Porter's Five Forces Analysis
5.2.1 Bargaining Power of Suppliers
5.2.2 Bargaining Power of Consumers
5.2.3 Threat of New Entrants
5.2.4 Threat of Substitute Product and Services
5.2.5 Competitive Rivalry within the Industry
6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
6.1 Market Drivers
6.1.1 Rise in Use of Smartphones and Tablets in Asian Countries
6.1.2 Increased Awareness Levels among the Population about the Potential Benefits of Healthcare Management
6.1.3 Increasing Focus on Personalized Medicine and Patient-centered Approach
6.1.4 Increased Need of Point-of-Care Diagnosis and Treatment
6.2 Market Restraints
6.2.1 Data Security Issues
6.2.2 Stringent Regulatory Policies for Mobile Health Applications
6.4 Key Challenges
7. Market Segmentation
7.1 By Service Type
7.1.1 Monitoring Services
22.214.171.124 Independent Aging Solutions
126.96.36.199 Chronic Disease Management
188.8.131.52 Post-acute Care Services
7.1.2 Diagnostic Services
184.108.40.206 Self-diagnosis Services
220.127.116.11 Telemedicine Solutions
18.104.22.168 Medical Call centers manned by Healthcare Professionals
7.1.3 Treatment Services
22.214.171.124 Remote Patient Monitoring Services
7.1.4 Wellness and Fitness Solutions
7.1.5 Other Services
7.2 By Device Type
7.2.1 Blood Glucose Monitor
7.2.2 Cardiac Monitor
7.2.3 Hemodynamic Monitor
7.2.4 Neurological Monitor
7.2.5 Respiratory Monitor
7.3 By Stakeholder
7.3.1 Mobile Operators
7.3.2 Healthcare Providers
7.3.3 Application/Content Players
7.4 By Geography
126.96.36.199 Australia & New Zealand
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
8. Competitive Landscape
8.1 Mergers and Acquisition Analysis
8.2 Agreements, Collaborations, and Partnerships
8.3 New Products Launches
9. Key Players
9.3 Qualcomm Life
9.4 Cardionet, Inc.
9.5 Medtronic, Inc.
9.6 Philips Healthcare
9.7 Samsung Electronics Co. Ltd
*List not Exhaustive
10. Future of the Market