Dive Brief:
- The market for mobile health monitoring and diagnostics is due to rocket upward over the next several years, according to a new report from Transparency Market Research, MobiHealthNews reports.
- The market research firm defines the mobile health monitoring and diagnostic space as smart phone-connected cardiac monitors, glucose monitors, blood pressure monitors, pulse oximeters, multi-parameter monitors and sleep apnea monitors.
- This market, which was at $650 million in 2012, should grow at a compound annual growth rate of 43.3% from 2013 to 2019, putting it at $8 billion in 2019.
Dive Insight:
The huge jump in demand for mobile health monitoring is due to several factors, including increased demand for remote patient monitoring as a means of reducing the cost of care, researchers said. Not only is the mobile health monitoring market to grow dramatically in coming years, the devices that lead it are likely to shift, the research firm said. For example, over the next five years, glucose monitors are projected to grow faster than any other category, at a growth rate projected to be over 45%.