Mobile health market to reach $49B worldwide in 2020
- Grand View Research estimates the worldwide mobile health market will reach $49B in 2020, with a compound annual growth rate of 48% from 2013 to 2020.
- The aging population, along with rising chronic diseases like cancer, heart disease and diabetes are driving the market as well as new connected medical devices.
- Despite the estimated predicted growth, data security along with affordability and availability may curb it.
The research group also predicted that the Asia Pacific market will lead the charge in growth due to its lack of healthcare providers with a burgeoning rural population. However, North America will still hold a significant market share due to an increase in smartphone adoption, according to the report. Mobile operators made up 49% of the overall mobile health market in 2012, thanks to revenue from monitoring services for independent aging (mPERS).