mHealth Monitoring Diagnostic Medical Devices Market Insights by Leading Companies and Emerging Growth Till 2027

According to Transparency Market Research’s latest report on the global mHealth monitoring diagnostic medical devices market for the historical period 2017–2018 and forecast period 2019–2027, rise in prevalence of chronic disorders, aging population, technological advancements, entry of new players, and increase in access to health care are projected to drive the global mHealth monitoring diagnostic medical devices market
According to the report, the global mHealth monitoring diagnostic medical devices market was valued at US$ 29.05 Bn in 2018 and is projected to expand at a CAGR of 20.5% from 2019 to 2027

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Rise in Prevalence of Chronic Disorders and Increase in Government Initiatives: Key Drivers

Prevalence of disease indications such as diabetes, cardiovascular diseases, and other chronic diseases is increasing rapidly across regions due to aging population, unhealthy food habits, and rise in obesity. According to Partnership to Fight Chronic Disease (PFCD), chronic diseases are the leading cause of death and disability in the U.S. Nearly 133 million people in the U.S., or 45% of the population, have at least one chronic disease. These factors fuel the growth of the global mHealth monitoring diagnostic medical devices market.
High prevalence of diabetes and improvement in economic conditions are anticipated to propel demand for wearable devices. According to the International Diabetes Federation (IDF), more than 382 million people across the globe currently suffer from diabetes.
Increase in government initiatives for the adoption of mhealth products is likely to propel the global market during the forecast period. Governments are making efforts to increase awareness among health care professionals and patients about the usage and benefits of mHealth monitoring diagnostic medical devices.

Governments in developed countries such as the U.S. have begun to reach local communities by offering Continual Medical Education (CME) classes. This leads to increase in awareness among physicians and surgeons about the availability and usage of mHealth monitoring diagnostic medical devices. This is projected to augment the growth of the global mHealth monitoring diagnostic medical devices market.
In July 2017, the European Commission launched public discussion on how it should promote digital innovation in health care for the advantage of citizens and health systems in Europe

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Focus on Geographic Expansion

Companies in the global mHealth monitoring diagnostic medical devices market are undergoing strategic acquisitions which enable product distribution in various regions and also strengthen their global presence. Rise in demand for technology-driven solutions, economic growth, and increase in awareness about chronic disorders present significant opportunities for players operating in the global mHealth monitoring diagnostic medical devices market.
In April 2017, NextGen Healthcare, a subsidiary of Quality Systems and a provider of computer-based practice management applications for medical and dental group practices, acquired Entrada, a provider of mobile clinical documentation for ~US$ 34 Mn all in cash. The seller was represented by JEGI.

High Cost and Cyber Threat to Hamper Market

The global mHealth monitoring diagnostic medical devices market is technology driven. Introduction of new technologies in the market increases the demand for these systems due to improved efficiency and outcomes. However, high cost of these new devices raises the affordability issue, which hampers the growth of the global mHealth monitoring diagnostic medical devices market, especially in the developing countries. Moreover, lack of reimbursement affects demand for mHealth monitoring diagnostic medical devices.
mHealth monitoring diagnostic medical devices have been adopted by patients, therapists, and doctors in the last decade. However, data security breaches have been reported. Hence, cyber threat and increase in data security breaches hamper market growth.

Global mHealth Monitoring Diagnostic Medical Devices Market: Competitive Landscape

This report profiles major players in the global mHealth monitoring diagnostic medical devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The global mHealth monitoring diagnostic medical devices market is fragmented, with the presence of a number of international as well as regional players